Decentralized Identity Market Value to Cross USD 77.8 Billion by 2031
rise in security breaches and increasing numbers of identity fraud and security breaches is boosting the growth of the global decentralized identity market.
PORTLAND, PORTLAND, OR, UNITED STATES, October 31, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, the global decentralized identity market generated $156.8 million in 2021, and is projected to reach $77.8 billion by 2031, growing at a CAGR of 87.9% from 2022 to 2031.
The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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The report offers detailed segmentation of the global decentralized identity market based on type, enterprise size, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and highest revenue generation that is mentioned in the report.
Based on type, the biometrics segment held the dominating market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The non-biometrics segment, on the other hand, is expected to cite the fastest CAGR of 91.3% during the forecast period.
Based on enterprise size, the large enterprises segment held the largest market share in 2021, holding nearly four-fifths of the global decentralized identity industry, and is expected to maintain its leadership status during the forecast period. The SMEs segment, on the other hand, is expected to cite the fastest CAGR of 92.5% during the forecast period.
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Based on end-user, the enterprises segment held the largest market share in 2021, holding more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The individual segment, on the other hand, is expected to cite the fastest CAGR of 95.1% during the forecast period.
Based on region, the market across North America held the largest market share in 2021, holding more than two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 96.0% during the forecast period.
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The key players analyzed in the global decentralized identity market report include 1Kosmos, Accenture, Avast, Civic Technologies, DragonChain, Finema, Hu-manity co., Microsoft Corporation, Nuggets, NuID, Persistent Ltd., Ping Identity, R3, SecureKey Technologies, Serto, ValidatedID, and Wipro Corporation.
The report analyzes these key players in the global decentralized identity market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Key Findings of the Study –
• By type, the biometrics segment dominated the decentralized identity market in 2021. However, the non-biometrics segment is expected to exhibit significant growth during the forecast period.
• On the basis of end-user, the enterprises segment dominated the decentralized identity market in 2021.However, the individual segment is expected to witness the highest growth rate during the forecast period.
• Region-wise, the decentralized identity market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
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