The Decentralized Identity Market size was valued at USD 282.3 Million in 2022 and is estimated to reach over USD 46157.5 Million in 2030 with a growing CAGR of 89.1% Over the Forecast Period of 2023-2030. The decentralized identity market is burgeoning as traditional models of identity management face growing scrutiny over security and privacy concerns. Unlike centralized systems where identity data is stored in a single location, making it a lucrative target for hackers, decentralized identity solutions distribute data across a blockchain or other distributed ledger technologies. This approach enhances security by eliminating single points of failure and giving individuals control over their own identity information, which they can share selectively and securely with different entities as needed. One of the driving forces behind the adoption of decentralized identity solutions is the rise of data privacy regulations such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States. These regulations have increased the pressure on organizations to ensure that they handle personal data responsibly. Decentralized identity systems align well with these regulatory requirements by allowing individuals to manage their own data and provide verifiable credentials without needing to store large amounts of personal information in centralized databases..

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Covid 19 impact analysis:

The market is anticipated to grow exponentially due to the recent progression of technology and developments in products and services. The report further analyzes the revenue growth at the global, regional, and country level with an extensive analysis of current and future industry trends pertaining to each segment and sub-segment. Furthermore, the report analyses the manufacturing process segment, competitive benchmarking, revenue shares of the leading company, regional and global opportunities, latest trends, and market dynamics, and historical data and forecasts. The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruption, and inducing financial instability. The report further analyses the impact of COVID-19 on the global Decentralized Identity market and offers a futuristic outlook of the market in the post-COVID-19 world.

Major companies profiled in the market report include

 Validated ID, Persistent, Microsoft, Wipro, Dragonchain, SecureKey Technologies, Accenture, R3, Avast, Datarella, Serto, Ping Identity, NuID, SelfKey, Nuggets, Finema, Civic Technologies, Affinidy, Hu-manity, 1Kosmos, and others .

Research objectives: 

The latest research report serves as a perfect example of the precise analysis of the global Decentralized Identity market. It includes the ToC, list of tables and figures, research methodology, geographic segmentation, competitive landscape, future developments, and technological innovation. Moreover, the report offers the latest coverage of the massive impact of the COVID-19 pandemic on the worldwide Decentralized Identity industry. The globally-disrupting incidence has impacted nearly every aspect of this business domain. However, the latest study expounds on the present market scenario and forecasts the pandemic’s aftermath, with respect to this industry. Furthermore, the major aspects of the market have been discussed in the report, with expert opinions on the current status of the market.

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It has segmented the global Decentralized Identity market

By Identity type

• Non- biometrics
• Biometrics

By Organization size

• Large Enterprises
• SMEs

By End user

• Enterprises
• Individual

By Verticals

• BFSI
• Government
• Telecom and IT
• Retail & E-Commerce
• Transport and Logistics
• Real Estate
• Media and Entertainment
• Travel and Hospitality
• Others

Regional Outlook:

The research report is an investigative study providing a conclusive view of the Decentralized Identity business sphere by an in-depth segmentation of the market into key applications, types, and regions. These segments are analyzed on the basis of present, emerging, and future trends. The regional segmentation provides current and forecast demand estimation for the Decentralized Identity industry in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa

 Key Objectives of the Global Decentralized Identity Market Report:

• The report highlights the latest trends observed in the consumption pattern of each regional segment.
• Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
• The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Decentralized Identity
• The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

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