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Blockchain Identity Management Market Share

Report ID: GMI10110
Published Date: Jul 2024
Report Format: PDF

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Blockchain Identity Management Market Share

Microsoft and IBM held a significant share of over 10% in the blockchain identity management industry. Owing to its strategic blockchain technology investments and strong cloud infrastructure, Microsoft has a substantial market share in the blockchain identity management space. Businesses can create and administer blockchain networks with ease with Microsoft's Azure platform, which offers a wide range of blockchain services, including Azure Blockchain Service. Microsoft's Identity Overlay Network (ION), created on the Bitcoin blockchain, offers a Decentralized Identity (DID) solution that improves security and gives users control over personal data. Microsoft's robust reputation for security and compliance, along with its large enterprise customer base, reinforces its market leadership. By incorporating decentralized identification solutions into the widely used Azure Active Directory (Azure AD) from Microsoft, enterprises may seamlessly shift to blockchain-based identity management while utilizing their current Microsoft infrastructure and technology.

IBM's deep industry expertise and complete blockchain platform have enabled it to develop a substantial position in the blockchain identity management sector. Blockchain-based identity management solutions can be developed & implemented in a stable environment with IBM Blockchain, a component of the IBM Cloud. With several noteworthy initiatives and partnerships in a range of sectors, such as supply chain, healthcare, and finance, IBM has been a leader in blockchain technology. The company's blockchain identification solutions, such as IBM Verify Credentials, which make use of the Hyperledger Fabric infrastructure, provide secure & scalable identity verification. For businesses wishing to deploy blockchain identity management, IBM is a reliable partner owing to its strong emphasis on enterprise solutions and in-depth knowledge of legal and compliance needs.

Blockchain Identity Management Market

Major players operating in the blockchain identity management industry are:

Microsoft
IBM
Oracle
Bitfury
Metadium Technology Inc.
Serto
NuID Inc.

Authors: Suraj Gujar , Kanhaiya Kathoke

Frequently Asked Questions (FAQ) :

The market size of blockchain identity management was valued at USD 3.38 billion in 2023 and is expected to record over 50% CAGR between 2024 and 2032, owing to the proliferation of IOT devices.

The service segment in the blockchain identity management services market is expected to register 55% CAGR during 2024 to 2032, as consulting services assist businesses in formulating plans.

North America blockchain identity management services market accounted for over 35% share in 2023, due to regulatory changes, technological advancements, and the need for safe identification solutions.

Microsoft, IBM, Oracle, Bitfury, Metadium Technology Inc., Serto, and NuID Inc.