Decentralized Identity Market Size Worth USD 394,261.6 Million in 2032 | Emergen Research
The Latest research study released by Emergen Research on “Decentralized Identity Market” with 150+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Generally speaking, the research is gathered from manufacturers, vendors, research papers, product catalogues, and other sources before being further confirmed. In terms of market prediction, industry segmentation, business models, and other criteria, the analysis includes both quantitative and qualitative research. Other elements that define the Decentralized Identity Market industry, such as the competitive landscape, important players, and relevant market strategies and revenue development, are also incorporated in studies to further retain their strategic worth.
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The global decentralized identity market size reached USD 725.0 Million in 2022 and is expected to register a revenue CAGR of 87.3% during the forecast period, according to the latest analysis by Emergen Research. Increased use of blockchain identity systems in banking is the key factor expected to drive the revenue growth of the market.
Digital onboarding is another use case for decentralized identities in banking. It allows customers to open bank accounts and complete other financial transactions without the need for in-person visits, which saves time and money for the customers and the bank.
In digital payments, decentralized identities can be used to authenticate and authorize transactions, which makes it more difficult for fraudsters to steal sensitive information such as credit card numbers or bank account information. Decentralized identities can also be used to provide customers with more control over their data, giving them more control over how their data is used.
List of Key Players Profiled in the Decentralized Identity Market Report:
Microsoft Corporation, Accenture plc, Secure Technologies, Inc., Persistent Systems, Civic Technologies, Inc., Validated ID, SL, Dragonchain, 1Kosmos Inc., Nuggets, and Datarella GmbH
Target Audience of the Global Decentralized Identity Market Report:
- Key Market Players.
- Investors.
- Venture capitalists.
- Small- and medium-sized and large enterprises.
- Third-party knowledge providers.
- Value-Added Resellers (VARs).
- Global market producers, distributors, traders, and suppliers.
- Research organizations, consulting companies, and various alliances interested in this sector.
- Government bodies, independent regulatory authorities, and policymakers.
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Some Key Highlights From the Report
- The biometrics segment accounted for a significant revenue share in 2022. A decentralized identity will be successful if it is widely adopted and if it develops into a mature global ecosystem quickly. Biometrics speed up this adoption by allowing use cases for the government, which are then often utilized by many individuals and in many public and private sector activities. Therefore, biometrics is the driving force behind the acceptance of decentralized identification and can be applied while maintaining security and privacy.
- The small & medium enterprises segment accounted for the largest revenue share in 2022. Decentralized systems can be more cost-effective for Small & Medium Enterprises (SMEs) because they do not require the use of expensive centralized servers or the need for specialized IT staff to manage them. Decentralized systems can be more flexible than centralized systems, which can be particularly useful for SMEs that need to quickly adapt to changing business environments.
Market Segmentation Analysis
Players can concentrate on high-growth regions and, if necessary, modify their business plan according to the research report. The Decentralized Identity Market is divided into a variety of categories, uses, and geographical areas. Players gain from the report’s regional segmentation research since it offers pertinent data and insights into important geographic marketplaces.
