CHICAGO, May 30, 2022 /PRNewswire/ — According to a research report “Decentralized Identity Market by Identity Type, End User, Organization Size, Vertical (BFSI, Government, Healthcare and Life Sciences, Retail and eCommerce, Telecom and IT, Transport and Logistics, Real Estate, Others) and Region – Global forecast to 2027″, published by MarketsandMarkets™, the Decentralized Identity Market size is projected to grow from USD 285 million in 2022 to USD 6,822 million by 2027, at a Compound Annual Growth Rate (CAGR) of 88.7% during the forecast period. The major driving factors contributing to the high growth rate of Decentralized Identity Market include rising instances of security breaches and identity related fraud, inefficiency of existing identity management practices and end user advantage of retaining full control over use of identities.
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111 – Tables
29 – Figures
146 – Pages
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By organization size, the large enterprises to hold largest market share during the forecast period
The increasing investments in the blockchain technology for identity management have led large enterprises to experiment and embrace the innovative technology. Faster interactions, cost reduction, business expansion capability, and enhanced security aspects are expected to fuel the expansion of the blockchain technology among large enterprises….
