Self-sovereign identity market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2024-2031).The market growth is attributed to the increased demand for identity management that gives individuals control over their data and eliminates the need for intermediaries, such as governments and corporations, to manage and store this information globally driving the market growth. SSI can enhance the effectiveness of identity management procedures. The elimination of manual procedures and forms, enable the people toeasily obtain government services and other services needing identity verification. It can aid in lowering wait times and raising theeffectiveness of these procedures.
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The ability of SSI to improve personal data security is one of its main benefits. SSI can help reduce the risk of data loss and unauthorized access to sensitive information by granting individuals control over their information. It can be done by utilizing blockchain technology to establish a decentralized, safe record of personal information, to which access is authorized only with the consent of the individual. Giving people control over their data and privacy is one of SSI’s other main benefits. By managing their information, people may decide to disclose and keep secrets. It lessens the needless sharing of private information and aids in maintaining individual privacy.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Self-Sovereign Identity Market by Offering
- Solutions
- Services
Global Self-Sovereign Identity Market by Identity Type
- Non-Biometrics
- Biometrics
Global Self-Sovereign Identity Market by Vertical
- BFSI
- IT and Telecom
- Government
- Real Estate & Construction
- Healthcare
- Retail and E-Commerce
- Travel & Hospitality
- Other (Media & Entertainment)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- ALICE BIOMETRICS. S.L.
- Cheqd Foundation Ltd.
- Dawex Systems
- Dock Labs AG
- EVERNYM, inc.
- IDEX Biometrics ASA
- Infopulse Group
- LeewayHertz
- Medium Corp.
- Ping Identity
- Sovrin Foundation
- SSI Meetup
- TNO
- Truvity B.V.
- VALIDATEDID SL
- id GmbH
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global self-sovereign identity market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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