United States Decentralized Identity Systems Market was valued at USD 950 Million in 2022 and is projected to reach USD 7.0 Billion by 2030, growing at a CAGR of 28.2% from 2024 to 2030.
The US Decentralized Identity Systems Market is poised for significant growth as businesses and industries recognize the importance of secure, user-controlled identities in the digital age. Decentralized identity systems (DIDs) offer an alternative to the traditional centralized identity management systems that are vulnerable to breaches and identity theft. This market, fueled by the rise of blockchain technology, is rapidly evolving to address industries' diverse needs for secure, verifiable, and privacy-preserving identity solutions.
Decentralized identity systems eliminate the need for a central authority to verify an individual’s identity. Instead, control is given to the user, who can manage and share their personal data at their discretion. This method enhances security and privacy, which is crucial in an era where data breaches and unauthorized access are prevalent. With the implementation of blockchain technology, the integrity and immutability of identity data are ensured, creating trust between individuals, businesses, and organizations.
The requirement for decentralized identity systems spans a wide range of industries. In the financial sector, DIDs are essential for providing secure and reliable user identification, reducing fraud, and complying with KYC (Know Your Customer) regulations. Healthcare industries are using decentralized identities to improve patient data security, ensuring that only authorized personnel can access sensitive medical information. The public sector is also exploring these systems to enhance digital government services, streamline citizen identification, and protect against identity theft.
Industries are looking for solutions that not only protect user privacy but also provide seamless integration with existing platforms. The US Decentralized Identity Systems Market is evolving to meet these needs by offering scalable, flexible, and interoperable systems that can work across different applications and industries. Companies are exploring partnerships with blockchain providers to implement decentralized solutions that create a frictionless user experience while ensuring compliance with regulatory standards.
As the market continues to expand, the demand for secure, decentralized digital identities is expected to rise. This shift will drive the development of new technologies, business models, and collaborations that will shape the future of identity management in the digital era.
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Microsoft
Avast
Ping Identity
1Kosmos
IBM
Accenture
R3
Civic Technologies
InfoCert
Ontology
Spruce ID
TrueVett (VeriME)
Dock Labs
Finema
Metadium
Affinidi
Datarella
Infopulse
Dragonchain
Validated ID
Serto
Blockster Labs
Nuggets
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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 Decentralized Identity Systems Market
Self-sovereign Identity (SSI)
Decentralized Identifiers (DIDs)
Verifiable Credentials
Financial Services
Healthcare
Government and Public Sector
Education
Travel and Hospitality
Individuals
Corporates
Non-profit Organizations
Blockchain-based
Distributed Ledger Technology (DLT)
Public Key Infrastructure (PKI)
On-premises
Cloud-based
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 Decentralized Identity Systems 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 Decentralized Identity Systems Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Decentralized Identity Systems Market, By Type
6. US Decentralized Identity Systems Market, By Application
7. US Decentralized Identity Systems Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Decentralized Identity Systems Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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