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Blockchain Identity Management Market by End-user, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 151
  • SKU: IRTNTR44645
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The blockchain identity management market share is expected to increase by USD 3.58 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 70.8%.

This blockchain identity management market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blockchain identity management market segmentations by end-user (BFSI, government, healthcare, and others), application (end-point, network, and infrastructure), and geography (North America, Europe, APAC, South America, and MEA). The blockchain identity management market report also offers information on several market vendors, including Accenture Plc, Amazon.com Inc., Bitfury Group Ltd., BLOCKCHAINS LLC, Broadcom Inc., Civic Technologies Inc., International Business Machines Corp., Oracle Corp., SAP SE, and SecureKey Technologies Inc. among others.

What will the Blockchain Identity Management Market Size be During the Forecast Period?

Blockchain Identity Management Market Size

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Blockchain Identity Management Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and after the post-COVID-19 era. The rising demand for digitalization is notably driving the blockchain identity management market growth, although factors such as high price and complexity in the integration of application software computing may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blockchain identity management market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Blockchain Identity Management Market Driver

One of the key factors driving the global blockchain identity management market is the rising demand for digitalization. Several industries, including consumer products, healthcare, manufacturing, and retail, are increasingly adopting digitalization across the world. Due to this industry, IT resources are becoming more vulnerable to cyberattacks. As a result, there is a greater demand for blockchain identity management systems, which may be used to avoid cyberattacks. Furthermore, technical advancements such as the incorporation of chatbots in customer service apps and the global adoption of the bring your own device (BYOD) policy have raised the necessity for proactive cyberattack protection. The popularity of the Bring Your Own Device (BYOD) policy is growing across all industries since it allows employees to access corporate data using personal devices such as cellphones and laptops. Due to the growing popularity of the BYOD policy, firms including VMware Inc. (VMware), QlikTech International AB (QlikTech), and Parallels International GmbH (Parallels International) have developed a variety of BYOD solutions. When workers access corporate information on their own devices, such as cellphones, the solution assures security. As a result, various industries are integrating digitalization-based processes, which is propelling the worldwide blockchain identity management solutions market forward.

Key Blockchain Identity Management Market Trend

Data privacy concerns are another factor hindering the global blockchain identity management market growth in the forecast period. Data privacy is a key issue in conversational AI, which is one of the major challenges for the global blockchain identity management market. As chatbots are becoming increasingly popular, many enterprises across the globe are adopting this type of AI technology to simplify business processes. However, with an increase in the occurrence of cybercrimes around the world, concerns have been expressed about the security of chatbots and VAs. Furthermore, most of the time, customers are not even aware of the amount of data being shared and how it is being used by third-party vendors. Moreover, AI-based applications such as blockchain identity management need to be fed with a huge amount of data (mostly personal data), which raises privacy concerns regarding using these chatbots. Hence, with the growing popularity of chatbots and VAs, there is also a growing concern regarding data security issues, which is hindering their adoption.

Key Blockchain Identity Management Market Challenge

High price and complexity in the integration of application software computing will be a major challenge for the global blockchain identity management market during the forecast period. Enterprise application software solutions are generally expensive due to the high costs associated with the development and licensing. Furthermore, prices are decided on the basis of the features of application software, not on the basis of the individual features used by customers. However, the high price of application software restricts organizations from purchasing such solutions or delays their purchase decisions. In both ways, it limits market growth. Furthermore, enterprises use different applications such as CRM, TMS, and SCM, and integrating a new ERP with the existing applications becomes difficult. In addition, the growing popularity of Software as a Service (SaaS) in the market is further leading to the integration of SAP with cloud-based applications. However, technological differences between SAP and cloud-based applications create integration issues. Numerous applications are available for different purposes. In each case, the technology used is different, thereby making the integration complex. Furthermore, the major challenge is that the incompatibility often remains hidden during the development process and becomes visible only at the end phase. This results in increased costs, poor quality, and dissatisfaction among customers.

This blockchain identity management market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global blockchain identity manage market as a part of the global data processing and outsourced services market within the global IT services market. The parent global IT services market covers companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. The global data processing and outsourced services market covers providers of commercial electronic data processing and/or business process outsourcing services. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blockchain identity management market during the forecast period.

Who are the Major Blockchain Identity Management Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • Amazon.com Inc.
  • Bitfury Group Ltd.
  • BLOCKCHAINS LLC
  • Broadcom Inc.
  • Civic Technologies Inc.
  • International Business Machines Corp.
  • Oracle Corp.
  • SAP SE
  • SecureKey Technologies Inc.

 

This statistical study of the blockchain identity management market encompasses successful business strategies deployed by the key vendors. The blockchain identity management market is fragmented and the vendors are deploying growth strategies such as operations expansion through partnerships and collaborations with the end-user organization to compete in the market.

Product Insights and News

  • Accenture Plc. -  In May 2021, Accenture acquired Industrie & Co to help Australian clients maximize Cloud First Investments and transform them into digital businesses.
  • Amazon.com Inc. - In June 2021, Vodafone and Amazon partnered to launch 'edge computing' in the UK.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The blockchain identity management market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Blockchain Identity Management Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the blockchain identity management market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global data processing and outsourced services market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for Blockchain Identity Management Market?

Blockchain Identity Management Market Market segmentation by region

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35% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The rising demand for digitalization will facilitate the blockchain identity management market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in 2020 significantly impacted North America. The outbreak led to lockdowns across countries in the region that led to a stay-at-home situation and also resulted in the temporary closure of industries, offices, and schools, which forced people to work and learn from homes. These factors enhanced the adoption of digital technologies such as blockchain for offering ease of access and authentication of the data.

What are the Revenue-generating End-user Segments in the Blockchain Identity Management Market?

Blockchain Identity Management Market Segmentation

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The market share growth by the BFSI segment will be significant during the forecast period. BFSI segment is expected to record tremendous growth during the forecast period. The adoption of digital payments and the use of technologies such as artificial intelligence, and machine learning in the global banking system will significantly increase the demand for more secure network connections and drive the market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the blockchain identity management market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Blockchain Identity Management Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 70.8%

Market growth 2021-2025

$ 3.58 billion

Market structure

Fragmented

YoY growth (%)

55.46

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 35%

Key consumer countries

US, UK, Canada, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, Amazon.com Inc., Bitfury Group Ltd., BLOCKCHAINS LLC, Broadcom Inc., Civic Technologies Inc., International Business Machines Corp., Oracle Corp., SAP SE, and SecureKey Technologies Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Blockchain Identity Management Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive blockchain identity management market growth during the next five years
  • Precise estimation of the blockchain identity management market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the blockchain identity management industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of blockchain identity management market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Data processing and outsourced services

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 End-point - Market size and forecast 2020-2025
      • Exhibit 17: End-point - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: End-point - Year-over-year growth 2020-2025 (%)
    • 5.4 Network - Market size and forecast 2020-2025
      • Exhibit 19: Network - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Network - Year-over-year growth 2020-2025 (%)
    • 5.5 Infrastructure - Market size and forecast 2020-2025
      • Exhibit 21: Infrastructure - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Infrastructure - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 23: Market opportunity by Application

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 24: End user - Market share 2020-2025 (%)
    • 6.2 Comparison by End user
      • Exhibit 25: Comparison by End user
    • 6.3 BFSI - Market size and forecast 2020-2025
      • Exhibit 26: BFSI - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: BFSI - Year-over-year growth 2020-2025 (%)
    • 6.4 Government - Market size and forecast 2020-2025
      • Exhibit 28: Government - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Government - Year-over-year growth 2020-2025 (%)
    • 6.5 Healthcare - Market size and forecast 2020-2025
      • Exhibit 30: Healthcare - Market size and forecast 2020-2025 ($ million)
      • Exhibit 31: Healthcare - Year-over-year growth 2020-2025 (%)
    • 6.6 Others - Market size and forecast 2020-2025
      • Exhibit 32: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 33: Others - Year-over-year growth 2020-2025 (%)
    • 6.7 Market opportunity by End user
      • Exhibit 34: Market opportunity by End user

    7 Customer landscape

    • 7.1 Overview
      • Exhibit 35: Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 36: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 37: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 38: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 APAC - Market size and forecast 2020-2025
      • Exhibit 42: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: APAC - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 44: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 45: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 46: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 47: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 48: Key leading countries
    • 8.9 Market opportunity by geography

      9 Drivers, Challenges, and Trends

      • 9.1 Market drivers
        • 9.2 Market challenges
          • Exhibit 50: Impact of drivers and challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • Exhibit 51: Vendor landscape
          • 10.2 Landscape disruption
            • Exhibit 52: Landscape disruption
            • Exhibit 53: Industry risks
          • 10.3 Competitive Scenario

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 54: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 55: Market positioning of vendors
            • 11.3 Accenture Plc
              • Exhibit 56: Accenture Plc - Overview
              • Exhibit 57: Accenture Plc - Business segments
              • Exhibit 58: Accenture Plc – Key news
              • Exhibit 59: Accenture Plc - Key offerings
              • Exhibit 60: Accenture Plc - Segment focus
            • 11.4 Amazon.com Inc.
              • Exhibit 61: Amazon.com Inc. - Overview
              • Exhibit 62: Amazon.com Inc. - Business segments
              • Exhibit 63: Amazon.com Inc. – Key news
              • Exhibit 64: Amazon.com Inc. - Key offerings
              • Exhibit 65: Amazon.com Inc. - Segment focus
            • 11.5 Bitfury Group Ltd.
              • Exhibit 66: Bitfury Group Ltd. - Overview
              • Exhibit 67: Bitfury Group Ltd. - Product and service
              • Exhibit 68: Amazon.com Inc. – Key news
              • Exhibit 69: Bitfury Group Ltd. - Key offerings
            • 11.6 BLOCKCHAINS LLC
              • Exhibit 70: BLOCKCHAINS LLC - Overview
              • Exhibit 71: BLOCKCHAINS LLC - Product and service
              • Exhibit 72: BLOCKCHAINS LLC – Key news
              • Exhibit 73: BLOCKCHAINS LLC - Key offerings
              • Exhibit 74: BLOCKCHAINS LLC - Segment focus
            • 11.7 Broadcom Inc.
              • Exhibit 75: Broadcom Inc. - Overview
              • Exhibit 76: Broadcom Inc. - Business segments
              • Exhibit 77: Broadcom Inc. – Key news
              • Exhibit 78: Broadcom Inc. - Key offerings
              • Exhibit 79: Broadcom Inc. - Segment focus
            • 11.8 Civic Technologies Inc.
              • Exhibit 80: Civic Technologies Inc. - Overview
              • Exhibit 81: Civic Technologies Inc. - Product and service
              • Exhibit 82: Civic Technologies Inc – Key news
              • Exhibit 83: Civic Technologies Inc. - Key offerings
            • 11.9 International Business Machines Corp.
              • Exhibit 84: International Business Machines Corp. - Overview
              • Exhibit 85: International Business Machines Corp. - Business segments
              • Exhibit 86: International Business Machines Corp. – Key news
              • Exhibit 87: International Business Machines Corp. - Key offerings
              • Exhibit 88: International Business Machines Corp. - Segment focus
            • 11.10 Oracle Corp.
              • Exhibit 89: Oracle Corp. - Overview
              • Exhibit 90: Oracle Corp. - Business segments
              • Exhibit 91: Oracle Corp.– Key news
              • Exhibit 92: Oracle Corp. - Key offerings
              • Exhibit 93: Oracle Corp. - Segment focus
            • 11.11 SAP SE
              • Exhibit 94: SAP SE - Overview
              • Exhibit 95: SAP SE - Business segments
              • Exhibit 96: SAP SE – Key news
              • Exhibit 97: SAP SE - Key offerings
              • Exhibit 98: SAP SE - Segment focus
            • 11.12 SecureKey Technologies Inc.
              • Exhibit 99: SecureKey Technologies Inc. - Overview
              • Exhibit 100: SecureKey Technologies Inc. - Product and service
              • Exhibit 101: SecureKey Technologies Inc. – Key news
              • Exhibit 102: SecureKey Technologies Inc. - Key offerings

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 103: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 104: Research Methodology
                • Exhibit 105: Validation techniques employed for market sizing
                • Exhibit 106: Information sources
              • 12.4 List of abbreviations
                • Exhibit 107: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Blockchain Identity Management market growth will increase by $3584.47 million during 2021-2025.
              The blockchain identity management market is expected to grow at a CAGR of 70.8% during 2021-2025.
              Technavio has segmented the blockchain identity management market by end user (BFSI, Government, Healthcare, and Others) ,application (End-point, Network, and Infrastructure) , and geographic (North America, Europe, APAC, South America, and MEA).
              Accenture Plc, Amazon.com Inc., Bitfury Group Ltd., BLOCKCHAINS LLC, Broadcom Inc., Civic Technologies Inc., International Business Machines Corp., Oracle Corp., SAP SE, SecureKey Technologies Inc. are a few of the key vendors in the blockchain identity management market.
              North America will register the highest growth rate of 34.93% among the other regions. Therefore, the blockchain identity management market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the blockchain identity management market growth are:
              • Rising spend on IT technologies
              • Growth of quantum computing
              The blockchain identity management market vendors should focus on grabbing business opportunities from the bfsi segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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