United States Blockchain-based Identity Market was valued at USD 0.45 Billion in 2022 and is projected to reach USD 1.24 Billion by 2030, growing at a CAGR of 14.2% from 2024 to 2030.
The US blockchain-based identity management market is experiencing remarkable growth, driven by the increasing need for secure, decentralized, and tamper-proof identity verification mechanisms across various industries. In 2022, the global blockchain identity management market was valued at approximately USD 296.4 million and is projected to grow at a compound annual growth rate (CAGR) of 82.6% from 2023 to 2030. citeturn0search0
Key Industry Requirements:
Financial Services: The financial sector requires robust identity verification systems to combat fraud and streamline transactions. Blockchain technology offers secure and efficient solutions, enhancing customer trust and regulatory compliance.
Healthcare: Healthcare providers demand secure management of patient data, ensuring privacy and compliance with regulations like HIPAA. Blockchain facilitates immutable records, enhancing data integrity and accessibility.
Government and Public Sector: Governments seek efficient citizen identification systems to deliver public services effectively. Blockchain provides transparent and secure platforms for managing citizen identities, reducing fraud and improving service delivery.
Supply Chain and Logistics: The logistics industry requires accurate tracking of goods and verification of transactions. Blockchain ensures transparency and authenticity in the supply chain, enhancing operational efficiency and trust among stakeholders.
Retail and E-commerce: Retailers need secure customer authentication methods to protect against identity theft and fraud. Blockchain-based solutions offer decentralized and secure platforms for customer identity management, enhancing trust and customer experience.
Telecommunications: Telecom companies require secure management of subscriber identities to prevent fraud and ensure service integrity. Blockchain technology offers decentralized solutions, enhancing security and operational efficiency.
Education: Educational institutions seek secure verification of academic credentials to prevent fraud. Blockchain provides tamper-proof records, simplifying verification processes and enhancing trust in educational qualifications.
The integration of blockchain technology in identity management addresses critical challenges faced by various industries, offering enhanced security, privacy, and operational efficiency. As digital interactions continue to expand, the adoption of blockchain-based identity solutions is expected to accelerate, transforming how organizations manage and verify identities.
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Amazon Web Services
Bitfury Group Limited
Cognizant
Civic Technologies
IBM
BTL Group
KYC Chain
LeewayHertz
DigiShares
Accenture
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Blockchain-based Identity Market
Individual Users
Corporations
Government Agencies
Non-Governmental Organizations (NGOs)
Financial Institutions
Public Blockchain
Private Blockchain
Hybrid Blockchain
Permissioned Blockchain
Permissionless Blockchain
Consortium Blockchain
Identity Verification
Digital Wallets
Smart Contracts for Identity
Reputation Systems
Access Control Systems
Healthcare
Banking and Financial Services
Education
Retail and E-commerce
Travel and Transportation
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Blockchain-based Identity Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Blockchain-based Identity Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Blockchain-based Identity Market, By Type
6. US Blockchain-based Identity Market, By Application
7. US Blockchain-based Identity Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Blockchain-based Identity Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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