Based on enterprise size, the large enterprises segment held the largest market share in 2021, holding nearly four-fifths of the global decentralized identity industry, and is expected to maintain its leadership status during the forecast period. The SMEs segment, on the other hand, is expected to cite the fastest CAGR of 92.5% during the forecast period.

The report offers detailed segmentation of the global decentralized identity market based on type, enterprise size, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and highest revenue generation that is mentioned in the report.

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COVID-19 Scenario:

► The COVID-19 pandemic had a positive impact on the growth of the global decentralized identity market.

► This is mainly due to the surge in the need to maximize the digital ecosystem among people around the world. Increase in fraudulent activities and cybercrime resulted in consumers' fears about their identity security.

► This created demand for various digital security of data as well as people in the market. Decentralized identity is important for confirming user identities and securely storing them.

► In addition, more and more enterprises around the world are increasingly taking significant efforts to implement decentralized identification systems. These factors are further expected to ample opportunities for the industry in the coming years.

Based on type, the biometrics segment held the dominating market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The non-biometrics segment, on the other hand, is expected to cite the fastest CAGR of 91.3% during the forecast period.

Based on end-user, the enterprises segment held the largest market share in 2021, holding more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The individual segment, on the other hand, is expected to cite the fastest CAGR of 95.1% during the forecast period.

Based on region, the market across North America held the largest market share in 2021, holding more than two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 96.0% during the forecast period.

The report analyzes these key players in the global decentralized identity market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.

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Key Market Players:

► ValidatedID

► Finema

► Microsoft Corporation

► Ping Identity

► Hu-manity.co

► R3

► DragonChain

► NuID

► Wipro Limited

► Serto

► SecureKey Technologies

► Civic Technologies

► Nuggets

► 1Kosmos

► Persistent Ltd.

► Avast

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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