Global Blockchain Identity Softwares Market by Type (Cloud-Based, On-Premises), By Application (Large Enterprises, SMEs) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The Global Blockchain Identity Software Market size is projected to grow from USD 1.1 billion in 2018, and reach USD 14.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 43.8% during the forecast period.

Blockchain Identity Software is software that enables users to store their identity-related data on the blockchain. It can be used for verifying and authenticating user identity with various applications, including access permissions. The Blockchain ID software is decentralized, which means it does not require a central server to function. The nodes in the network are all connected and synchronized with each other so that they can share information about blocks as well as transactions being processed by them. This way there will be no single point of failure for malicious hackers to attack among many other benefits offered by blockchain technology over traditional technologies like passwords. It also has an automatic integrity checking system integrated into its core design whereby any change made on one block would cause a mismatch with the original chain since it's been modified or hacked into altered content.

The modified chain will no longer match with the original one - A hacker can only hack into an individual block where he has control over it but still cannot hack the entire chain. This is to prevent any change made on one block would cause a mismatch with the original chain since it's been modified or hacked into altered content - This will help keep data safe and tamper-proof as well as making sure that all transactions being processed by them are verified, validated and secure. The lack of intermediaries in this system also means there is no single point of failure for malicious hackers to attack among many other benefits offered by blockchain technology over traditional technologies like passwords.

On the basis of Type, the global blockchain identity software market is segmented into Cloud-based and On-Premises.

Cloud-Based:

Cloud-based blockchain identity software is a subset of the broader term "cloud-based". Cloud-based software has its own advantages over on-premises systems. Cloud data centers are widely spread and do not have to be owned by any single entity. This means that if one cloud provider experiences an outage, subscribers can automatically switch to another available service without having their network interrupted and experiencing downtime. As a result, this type of system offers higher reliability for businesses reliant upon such services as it reduces dependency risk in cases when there is no single point of failure or central target for hackers to exploit. These types also offer a lower-cost model which is appealing to small businesses with tight budgets but still need robust security and uptime.

On-Premises:

On-premises blockchain identity software is a type of on-premise software that can be used to store and manage personal information. It may also provide authentication services for the organization’s employees or customers. On-premises blockchain identity software enables users to authenticate themselves without any intermediaries such as banks, government agencies, or credit card companies. on-premise Blockchain Identity Software deals with the installation from within an organization's buildings - these types offer more control over security-related matters like user permissions and encryption.

On the basis of Application, the global blockchain identity software market is segmented into Large Enterprises and SMEs.

Large Enterprises:

Blockchain identity software is used in Large Enterprises to offer a secure and effective approach for the employees. It protects sensitive data of the company which includes identification documents, social security information, health records, or financial information from human errors. The blockchain-based system has end-to-end encryption that prevents external entities from accessing it without permission. The high-level business-grade encryption ensures all data are secured with 256 bit AES keys and encrypted using the SHA256 hash algorithm during storage on disk drives as well as when transferred over networks so that only authorized personnel can access them. With blockchain technology at its core, this type of application offers an unmatched level of protection against cyber-attacks because every new block contains an individualized digital signature (hash) that cannot be altered or reproduced.

SMEs:

Blockchain identity software systems are used for the purposes of authentication, verification, and authorization. These applications in SMEs identify employees who need access to information or services, whether it be accessing a company’s intranet system or emailing other employees from within the organization. The blockchain provides greater security because all data is encrypted on the network with no single point of failure that could lead to an attack vector. If there were a breach at one point on such a decentralized network, it would only affect part of the chain rather than compromising all records simultaneously as traditional databases do. This also reduces costs associated with multi-factor authentication (MFA) technologies as well as providing tolerance against brute force attacks since they can require multiple attempts before reaching success.

On the basis of Region, the global blockchain identity software market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East & Africa. The region of North America dominates the global blockchain identity software market with a share of more than 40% in terms of revenue followed by Europe with 23%. Middle East & African has seen significant growth in recent years owing to the increased adoption of mobile money services like M-Pesa. It accounts for less than 20% share globally. The Asia Pacific at present captures around 25% worldwide share among regional markets.

Growth Factors For The Global Blockchain Identity Software Market:

There are various factors driving the growth of the global blockchain identity software market. One factor is high security and transparency offered by Blockchain technology which eliminates the need for passwords to attack among many other benefits offered by blockchain technology over traditional technologies like passwords. Another factor that is fueling the demand for this product in emerging economies, there has been a rise in the use of cashless payments through mobile apps such as Google Pay, Apple pay, etc., thereby increasing the usage rate of this software. Moreover, with an increase in usage rates across organizations globally including public sector organizations owing to its numerous advantages over traditional ways like password authentication; it helps reduce cybersecurity threats at least partly owing to its encrypted database architecture that provides access to authorized users only.

Up Market Research published a new report titled “Blockchain Identity Softwares Market research report which is segmented by Types (Cloud-Based, On-Premises), By Applications (Large Enterprises, SMEs), By Players/Companies IBM, Accenture, Kaleido, BlockCypher, Hyperledger, Digital Bazaar, 1Kosmos, BlockScore, BlocWatch, B2Lab, Cambridge Blockchain, Civic Technologies, Credify, Dragonchain, Evernym, Factom, HYPR, idRamp, Monetha, Netki, OARO, OARO, Tokeny Solutions, Trust Stamp”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Blockchain Identity Softwares Market Report Segments:

The market is segmented by Type Cloud-Based, On-Premises and By Application Large Enterprises, SMEs.

Some of the companies that are profiled in this report are:

1. IBM
2. Accenture
3. Kaleido
4. BlockCypher
5. Hyperledger
6. Digital Bazaar
7. 1Kosmos
8. BlockScore
9. BlocWatch
10. B2Lab
11. Cambridge Blockchain
12. Civic Technologies
13. Credify
14. Dragonchain
15. Evernym
16. Factom
17. HYPR
18. idRamp
19. Monetha
20. Netki
21. OARO
22. OARO
23. Tokeny Solutions
24. Trust Stamp

Blockchain Identity Softwares Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Blockchain Identity Softwares Market

Overview of the regional outlook of the Blockchain Identity Softwares Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Blockchain Identity Softwares Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Blockchain Identity Softwares Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. Cloud-Based

                2. On-Premises

                1. Large Enterprises

                2. SMEs

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Blockchain Identity Softwares Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Blockchain Identity Softwares Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.