Reports
Sale
Global Decentralized Identity Market Size, Share, Forecast: By Identity Type: Biometric, Non-biometric; By Enterprise Size: Large Enterprises, Small and Medium Enterprises; By Application: Individual, Enterprises; By End Use: BFSI, Government, Healthcare, Media and Entertainment, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Decentralized Identity Market Outlook
The global decentralized identity market size attained approximately USD 548.39 million in 2023. The market is estimated to grow at a CAGR of 89.10% in the forecast period of 2024-2032, reaching a value of around USD 169556.03 million by 2032.
Key Trends in the Market
Decentralized identity, also referred to as self-sovereign identity, is a model or an approach to identify and authenticate users and entities without a central authority. It provides individuals control over their own identity data and enhances security and privacy.
- The growing trend of digitalisation in various sectors such as BFSI, e-commerce, healthcare, manufacturing, and retail, among others, is one of the crucial decentralized identity market trends. Digitalisation can elevate the risk of cyberattacks and identity threats, fuelling the demand for decentralized identity systems.
- A rise in the implementation of blockchain technology in decentralized identity systems of banks and other financial institutes for safeguarding the user data and allowing user control over data sharing also promotes the decentralized identity market growth.
- A surge in the integration of biometrics with decentralized identity systems to improve security and provide a verifiable credential that can be used across multiple platforms positively influences the market expansion.
- Strategic collaborations and agreements between providers and enterprises to reduce the risk of identity fraud and enhance overall security also promote the decentralized identity market demand.
Global Market Analysis
Based on identity type, the market is bifurcated into biometric and non-biometric. On the basis of enterprise size, the market is classified into large enterprises and small and medium enterprises. Based on application, the market is divided into individual and enterprises.
The decentralized identity market segmentation, on the basis of end use, includes BFSI, government, healthcare, media and entertainment, manufacturing, retail and e-commerce, and IT and telecom, among others. The major regional markets for decentralized identity are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global decentralized identity market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Microsoft Corporation
- Wipro Limited
- Civic Technologies, Inc.
- Validated ID, SL
- Dragonchain
- Nuggets Ltd.
- Ping Identity Corp.
- Finema Co., Ltd.
- Datarella GmbH
- NuID, Inc.
- Others
Market Share by End Use
The BFSI sector occupies a significant portion of the global decentralized identity market share owing to the increased usage of decentralized identity by banks and financial institutions for new customer identity verification through KYC. It also supports customers by providing secure authentication during online transactions to mitigate the risks of security breaches.
Moreover, banks are also offering digital credit cards that follow the protocol of decentralized identity to strengthen their security. Additionally, decentralized identity offers users control over the amount of personal data they are willing to share with financial institutes.
Market Share by Region
As per the decentralized identity market analysis, North America accounts for a substantial share of the global market due to rising cases of identity thefts, which boosts the adoption of decentralized identity systems in the public and private sectors. Increased investment by federal governments to strengthen the security solution by implementing decentralized identity and related technologies also bolsters the market growth.
Additionally, the surging launch of new decentralized identity solutions that can improve user privacy also provides a positive outlook to the market in the region.
Competitive Landscape
Microsoft Corporation is a multinational technology company, established in 1975 and based in Washington, the United States. The company, best known for its operating system and Microsoft Office suite, also provides other software, personal computers, and consumer electronics.
Wipro Limited, founded in 1945, is an Indian multinational company, which has its headquarters in Bengaluru, Karnataka. The company provides services like cloud computing, artificial intelligence, computer security, robotics, and digital transformation, among others.
Civic Technologies, Inc., founded in 2015 with its headquarters in California, the United States, provides identity management tools. These tools provide security for user and business identity and offer them control over the data they share.
Other decentralized identity market players include Validated ID, SL, Dragonchain, Nuggets Ltd., Ping Identity Corp., Finema Co., Ltd., Datarella GmbH, and NuID, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Identity Type |
|
| Breakup by Enterprise Size |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Decentralized Identity Market Analysis
8.1 Key Industry Highlights
8.2 Global Decentralized Identity Historical Market (2018-2023)
8.3 Global Decentralized Identity Market Forecast (2024-2032)
8.4 Global Decentralized Identity Market by Identity Type
8.4.1 Biometric
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Non-biometric
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Decentralized Identity Market by Enterprise Size
8.5.1 Large Enterprises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Small and Medium Enterprises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Decentralized Identity Market by Application
8.6.1 Individual
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Enterprises
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Decentralized Identity Market by End Use
8.7.1 BFSI
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Government
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Healthcare
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Media and Entertainment
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Manufacturing
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Retail and E-commerce
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 IT and Telecom
8.7.7.1 Historical Trend (2018-2023)
8.7.7.2 Forecast Trend (2024-2032)
8.7.8 Others
8.8 Global Decentralized Identity Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Decentralized Identity Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Decentralized Identity Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Decentralized Identity Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Decentralized Identity Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Decentralized Identity Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Microsoft Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Wipro Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Civic Technologies, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Validated ID, SL
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Dragonchain
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Nuggets Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Ping Identity Corp.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Finema Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Datarella GmbH
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 NuID, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Decentralized Identity Market: Key Industry Highlights, 2018 and 2032
2. Global Decentralized Identity Historical Market: Breakup by Identity Type (USD Million), 2018-2023
3. Global Decentralized Identity Market Forecast: Breakup by Identity Type (USD Million), 2024-2032
4. Global Decentralized Identity Historical Market: Breakup by Enterprise Size (USD Million), 2018-2023
5. Global Decentralized Identity Market Forecast: Breakup by Enterprise Size (USD Million), 2024-2032
6. Global Decentralized Identity Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Decentralized Identity Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Decentralized Identity Historical Market: Breakup by End Use (USD Million), 2018-2023
9. Global Decentralized Identity Market Forecast: Breakup by End Use (USD Million), 2024-2032
10. Global Decentralized Identity Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Decentralized Identity Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Decentralized Identity Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Decentralized Identity Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Decentralized Identity Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Decentralized Identity Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Decentralized Identity Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Decentralized Identity Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Decentralized Identity Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Decentralized Identity Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Decentralized Identity Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Decentralized Identity Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Decentralized Identity Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 548.39 million.
The market is assessed to grow at a CAGR of 89.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 169556.03 million by 2032.
The major market drivers are the increasing use of decentralized identity in the BFSI sector and growing incidents of identity fraud and security breaches.
The key trends of the market include growing digitalisation in several sectors, integration of blockchain with decentralized identity systems, and partnerships between decentralized identity service providers and organisations.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The different identity types considered in the market report are biometric and non-biometric.
The key players in the market are Microsoft Corporation, Wipro Limited, Civic Technologies, Inc., Validated ID, SL, Dragonchain, Nuggets Ltd., Ping Identity Corp., Finema Co., Ltd., Datarella GmbH, and NuID, Inc., among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER