Global Blockchain Identity Management Market is expected to reach US$ XX Mn by 2027 at a CAGR of
XX % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders,
followers, and disrupters. Since lock down was implemented differently in different regions and
countries, impact of same is also different by regions and segments. The report has covered the current
short term and long term impact on the market, same will help decision makers to prepare the outline
for short term and long term strategies for companies by region.
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Blockchain identity management provides the freedom to create encrypted digital identities which
control replace username and passwords while offering security features. Blockchain identity
management provides a decentralized approach where a user would get an identity that does not
depend on centralized authority and cannot by any third party.
Some of the major factors such as growing demand for blockchain identity solutions across industry
verticals, rising security concerns with existing models across the globe, and for self-sovereign
identification, and easing the business functions through high-transaction speed and immutability are
expected to propel the growth of the market around the world. However, the restraining factors such as
an absence of the common set of regulatory standards and unregulated landscape and concerns over
the authenticity of the user could affect the growth of the blockchain identity management market.
In case of industry verticals, the Banking, Financial Service, and Insurance (BFSI) vertical is likely to hold
the larger blockchain identity management market share during the forecast period, as the rising need
for identity verification in the banking system and the difficulties in the traditional identification
methods are making the identification processes more difficult. Blockchain identity management marke