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Microsegmentation Market is expected to grow to USD 41.24 billion by 2034
Microsegmentation Market Outlook 2025-2034 Luton, Bedfordshire, United Kingdom, June 18, 2025 (GLOBE NEWSWIRE) -- The global microsegmentation market is poised for explosive growth in the coming years. Valued at approximately USD 8.17 billion in 2025, the market is projected to reach an estimated USD 41.24 billion by 2034. This substantial increase represents a Compound Annual Growth Rate (CAGR) of 26.78% over the forecast period from 2025 to 2034. The rising frequency of cyberattacks, increasing demand for secure network environments, and growing adoption of cloud-based infrastructures are major factors propelling market expansion. Organizations across various sectors are seeking more advanced and granular security approaches, leading to the rising popularity of microsegmentation as a core cybersecurity strategy. Download PDF Brochure: Segmentation by Security Type The microsegmentation market is segmented into three main security types: network security, database security, and application security. Among these, network security dominates the landscape, driven by the urgent need to protect digital infrastructures from lateral movement attacks. Microsegmentation enhances network security by isolating critical systems and restricting unauthorized internal access, thus minimizing breach impacts. Database security is also seeing rising demand, especially in data-intensive industries like banking, healthcare, and government. Protecting sensitive and personal information has become paramount, particularly with regulatory frameworks such as GDPR, HIPAA, and CCPA enforcing strict compliance. Meanwhile, application security is increasingly vital as organizations adopt cloud-native applications and containerized environments. With the proliferation of APIs and microservices, businesses are recognizing the need to secure each application individually. Microsegmentation enables better visibility and control at the application level, reducing vulnerabilities and ensuring tighter compliance with security policies. Segmentation by Organization Size The market is further divided based on organization size into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. Large enterprises currently account for a significant share of the market due to their vast IT infrastructures and more complex security needs. These organizations often manage extensive data centers and cloud networks, making them prime adopters of microsegmentation strategies to secure multi-cloud environments and critical assets. However, the SME segment is anticipated to grow at a faster pace during the forecast period. Increasing cyber threats and the democratization of advanced security solutions have made microsegmentation more accessible to smaller organizations. Moreover, as SMEs become more reliant on digital transformation and cloud computing, they are beginning to prioritize data protection and operational resilience, making microsegmentation a crucial investment. Segmentation by Vertical The microsegmentation market spans a wide array of industry verticals, each presenting unique security demands. Key sectors include: Government and Defense: This sector is one of the early adopters of microsegmentation, primarily due to its need to protect national assets, sensitive data, and mission-critical operations. Stringent security protocols and the presence of legacy systems necessitate granular access control, which microsegmentation offers. Banking, Financial Services, and Insurance (BFSI): With a high volume of financial transactions and personal customer data, the BFSI industry is under constant threat from cybercriminals. Microsegmentation allows financial institutions to create secure zones for critical applications and comply with rigorous industry regulations such as PCI DSS. IT and Telecom: As enablers of digital infrastructure, IT and telecom companies have become key targets for cyber threats. These firms are investing in microsegmentation to secure internal networks, prevent service disruptions, and maintain customer trust. Healthcare: With the digitization of patient records and the proliferation of connected medical devices, the healthcare sector faces growing vulnerabilities. Microsegmentation enables hospitals and clinics to isolate systems, protect sensitive health data, and reduce risks related to ransomware attacks. Retail: E-commerce and omnichannel retail models rely heavily on digital platforms, making them susceptible to data breaches. Microsegmentation helps retailers safeguard customer information, payment systems, and inventory databases. Manufacturing: The rise of Industry 4.0 and smart manufacturing has increased the number of connected systems within factories. Microsegmentation ensures operational continuity by securing production lines, IoT devices, and industrial control systems. Energy and Utilities: Critical infrastructure in this sector demands heightened protection against cyber threats. Microsegmentation is deployed to isolate operational technologies from IT systems, thus preventing cross-network contamination and system downtime. Others: This category includes education, media, and transportation sectors, which are also increasingly turning to microsegmentation to bolster their cybersecurity frameworks. Regional Insights Latin America The Latin American microsegmentation market is undergoing rapid development, fueled by an increasing number of cybersecurity threats and an expanding reliance on cloud-based infrastructure. Nations such as Brazil, Mexico, and Argentina are experiencing a digital transformation across multiple sectors, including healthcare, finance, and retail. The need to secure digital assets while improving service delivery is prompting organizations in the region to adopt microsegmentation solutions. Additionally, investments from global cybersecurity firms and local partnerships are helping to drive awareness and deployment across industries. Middle East and Africa (MEA) The MEA region is witnessing a surge in demand for microsegmentation due to growing awareness around cybersecurity risks and the acceleration of digital transformation initiatives. Key countries like the United Arab Emirates, Saudi Arabia, and South Africa are at the forefront of this growth. Government-led smart city initiatives and increased cloud adoption in the private sector are contributing to the rising need for more sophisticated cybersecurity measures. In these regions, microsegmentation is gaining prominence as a proactive approach to limit lateral movements and ensure real-time threat containment within networks. The presence of cybersecurity-focused government policies, coupled with significant investments in technological infrastructure, is expected to sustain the market's upward trajectory. Browse full Report - Key Growth Drivers Several critical factors are driving the expansion of the microsegmentation market globally. First and foremost is the growing complexity of cyber threats. Traditional perimeter-based security models are proving insufficient against advanced persistent threats (APTs) and insider attacks. Microsegmentation allows organizations to implement Zero Trust Architecture, ensuring that even if attackers breach one part of the system, they cannot easily move laterally across the network. Another major driver is the accelerated shift to cloud computing and hybrid IT environments. As enterprises migrate workloads to public and private clouds, securing those environments becomes paramount. Microsegmentation enables the creation of fine-grained security zones in these distributed environments, enhancing visibility and control. The rise in regulatory compliance mandates is also influencing adoption. Industries are required to meet stricter guidelines on data privacy and cybersecurity. Microsegmentation provides organizations with the tools to meet these compliance standards more effectively by allowing for detailed audit trails and risk mitigation strategies. Finally, technological advancements such as artificial intelligence and machine learning are improving the capabilities of microsegmentation solutions, allowing for better automation, policy enforcement, and threat detection across complex IT ecosystems. Recent Developments : 1. Palo Alto Networks In Q3 FY25, Palo Alto Networks announced a strengthened integration between its Next-Generation Firewalls (NGFWs) and external microsegmentation platforms — most notably Zero Networks. This hybrid-mesh firewall model allows unified management of perimeter and internal 'East-West' traffic, enforcing Zero Trust microsegments without disrupting existing infrastructure. The integration streamlines policy orchestration and accelerates deployment timelines for secure segmentation directly through NGFWs. 2. Cisco Secure Workload (formerly Tetration) Cisco remains a leader in microsegmentation, recognized by Forrester in late 2024 for its comprehensive platform covering bare-metal, VM, container, and even process-level segmentation. In December 2024, the Secure Workload 3.10 release introduced GenAI-driven microsegmentation enhancements—enabling automated policy suggestions and simplified enforcement across hybrid environments. In June 2025, Cisco further expanded its Hybrid Mesh Firewall concept by adding more enforcement points (including physical and virtual firewalls), layered multi-vendor policies, and intelligent segmentation to secure encrypted traffic and AI workloads. 3. Illumio Illumio, often cited as the original microsegmentation specialist, holds a leadership position according to Forrester Q3 2024. In early 2025, they released CloudSecure, an agentless, cloud-native microsegmentation solution designed to secure workloads without needing software installed on individual endpoints. They also introduced Illumio Insights, an AI-powered cloud detection and response tool that augments their breach containment platform with real-time visibility and automated threat responses—simplifying policy management and reducing time-to-contain. 4. Zero Networks In May 2025, Zero Networks was recognized by Gartner in their Market Guide as a representative vendor for automated, agentless microsegmentation enabling full Zero Trust across OT, IoT, and traditional IT assets. Their platform dynamically discovers, classifies, and generates precise segmentation policies without the need for agents or infrastructure changes. As of February 2025, they launched a strategic integration with Palo Alto Networks, enabling policy synergy between Zero Trust microsegments and perimeter firewalls—available to joint customers in Q3 FY25. 5. 12Port (Startup) At RSA Conference 2025, 12Port introduced its Horizon platform—a lightweight, agentless microsegmentation solution focused on cost-effective deployment and easy management. It provides real-time traffic visualization, automated policy enforcement, and seamless integration with AD/Entra ID, VMware, and AWS. Designed for rapid onboarding by MSSPs and mid-market organizations, Horizon addresses regulatory compliance (PCI-DSS, HIPAA, NIST) and enables Zero Trust microsegments without operational complexity. This report is also available in the following languages : Japanese (マイクロセグメンテーション市場), Korean (마이크로세그먼테이션 시장), Chinese (微细分市场), French (Marché de la microsegmentation), German (Markt für Mikrosegmentierung), and Italian (Mercato della microsegmentazione), etc. Request Sample Pages: More Research Finding – Big Data-As-A-Service BDAAS Market The Big Data-as-a-Service (BDaaS) market is poised for significant growth, valued at approximately $14.5 billion in 2024. Analysts project a robust expansion in the coming decade, with a forecasted market value of around $37 billion by 2034. This growth translates to a Compound Annual Growth Rate (CAGR) of about 10% from 2025 to 2034. Virtual Private Cloud Market The global Virtual Private Cloud (VPC) market is valued at approximately $25 billion in 2024 and is projected to reach around $60 billion by 2034. This growth reflects a robust Compound Annual Growth Rate (CAGR) of approximately 9% from 2025 to 2034. Global Employer of Record Market The Global Employer of Record (EOR) market is valued at approximately $10 billion. This sector is projected to grow significantly, with a forecasted market value reaching around $25 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 9.5% during the period from 2025 to 2034. Multi Vendor Support Services Market The global multi-vendor support services market is projected to reach a value of approximately $5.2 billion in 2024. The market is expected to grow significantly, with a projected value of around $9.7 billion by 2034, driven by the increasing complexity of IT environments. This represents a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2025 to 2034. IoT In Construction Market The global IoT In Construction Market is valued at approximately $19 billion in 2024, with expectations to reach about $45 billion by 2034, indicating a robust growth trajectory. This translates to a Compound Annual Growth Rate (CAGR) of around 8.8% during the forecast period from 2025 to 2034. Point of Sale Terminal Market The global point of sale (POS) terminal market is valued at approximately $85 billion in 2024, with projections indicating substantial growth to reach around $150 billion by 2034. This growth represents a robust Compound Annual Growth Rate (CAGR) of roughly 6% during the forecast period from 2025 to 2034. Crypto Asset Management Market The global crypto asset management market was valued at approximately USD 1.0 billion in 2023 and is projected to reach around USD 4.3 billion by 2030, reflecting a compound annual growth rate (CAGR) of 24.6% during the forecast period. IP Multimedia Subsystem (IMS) Market The global IP Multimedia Subsystem (IMS) market was valued at approximately USD 3.69 billion in 2024 and is projected to reach around USD 7.67 billion by 2029, exhibiting a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period. SD-WAN Managed Services Market The global SD-WAN managed services market is anticipated to grow from USD 1.15 Billion in 2023 to USD 7.77 Billion by 2030, at a CAGR of 31.3% during the forecast period. Internet of Things Technology Market The internet of things technology market is expected to grow at 6.5% CAGR from 2021 to 2029. It is expected to reach above USD 637 Billion by 2029 from USD 361.5 Billion in 2020. Social Media Security Market Social media security market is expected to grow at 17.8% CAGR from 2022 to 2029. It was valued 3.30 billion at 2020. It is expected to reach above USD 14.42 billion by 2029. Cloud Managed Services Market The Cloud Managed Services Market is expected to grow at 10.6% CAGR from 2022 to 2029. It is expected to reach above USD 186.5 billion by 2029 from USD 83.3 billion in 2021. Critical Infrastructure Protection Market The critical infrastructure protection market is expected to grow at 8.77% CAGR from 2022 to 2029. It is expected to reach above USD 326.09 billion by 2029 from USD 120.71 billion in 2020. Cognitive Computing Market The global cognitive computing market is expected to grow at 24% CAGR from 2020 to 2029. It is expected to reach above USD 175.80 billion by 2029 from USD 25.36 billion in 2020. Cloud High-Performance Computing (HPC) Market The Cloud High-Performance Computing (HPC) market is expected to grow at 16.7 % CAGR from 2022 to 2029. It is expected to reach above USD 608 Billion by 2029 from USD 17.5 Billion in 2022. Trade Management Market The global Trade Management Market is expected to grow at 10.5% CAGR from 2023 to 2029. It is expected to reach above USD 2.63 billion by 2029 from USD 1.1 billion in 2022. Communication Platform as A Service Market The communication platform as a service market is expected to grow at 32% CAGR from 2023 to 2029. It is expected to reach above USD 77.61 billion by 2029 from USD 5.98 billion in 2022. CONTACT: Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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13-06-2025
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Securing the Future: Global Cybersecurity Industry Set to Hit US$500.70 billion by 2030 at 12.9% CAGR, Reveals Exclusive Study
CHICAGO, June 13, 2025 /PRNewswire/ -- The Global Cyber Security Market size is projected to be valued at USD 272.62 billion in 2025 and reach USD 500.70 billion by 2030, growing at a CAGR of 12.9% according to a new report by The Research Insights. The market is driven by the rising frequency and sophistication of cyberattacks, increasing adoption of cloud services and remote work models, and growing regulatory compliance requirements across industries. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Cyber Security Market growth of 12.9% comprises a vast array of Offering, Security, Deployment, Organization Size, Solution, End Use, and Geography which are expected to register strength during the coming years. For More Information and To Stay Updated on The Latest Developments in The Global Cyber Security Market Share, Download FREE Sample Pages: Market Overview and Growth Trajectory: Cyber Security Market Growth: According to an exhaustive report by The Research Insights, the Cyber Security Market is experiencing significant growth. The global cybersecurity market expands due to a blend of distinctive and prevailing factors that illustrate ongoing transformations in the digital world. The rapid expansion of ransomware-as-a-service (RaaS) along with sophisticated cyber threats forces organizations to make substantial investments in advanced threat detection and response solutions. The shift toward remote and hybrid work structures has widened attack surfaces which boosts the requirement for zero-trust security systems and endpoint protection solutions. Security tools are increasingly implementing artificial intelligence and machine learning capabilities to achieve predictive analytics and real-time threat mitigation. Businesses face increasing pressure to improve their data privacy and compliance capabilities due to new regulatory standards such as GDPR in Europe and CCPA in California along with developing frameworks in the Asia-Pacific region. The increased linking of IoT devices with digital critical infrastructure systems in healthcare and energy sectors demands stronger cybersecurity frameworks. Nation-state cyber warfare escalation along with growing geopolitical cyber tensions makes cybersecurity a strategic priority for both public and private sectors which boosts global market expansion. Rising Frequency and Sophistication of Cyber Threats: The cybersecurity market grows because cyber threats become more numerous and complex while having greater impact across different sectors and industries. Organizations worldwide face relentless attacks from cyber threats including phishing attempts and ransomware as well as distributed denial-of-service (DDoS) attacks and advanced persistent threats (APTs). The exposure of weaknesses in well-regulated industries such as healthcare and finance occurred due to high-profile cybersecurity events like ransomware attacks on essential services and substantial data breaches that impacted millions of individuals. Organizations must now allocate resources toward sophisticated cybersecurity solutions capable of real-time threat detection and response because cybercriminals are advancing their attack methods through artificial intelligence (AI), automation and social engineering techniques. The evolving threat landscape creates rising demand for endpoint protection and network security systems alongside threat intelligence solutions and incident response platforms as well as Security Operations Center (SOC) services. For Detailed Market Insights, Visit: Expanding Digital Transformation and Cloud Adoption: Digital transformation efforts worldwide expanded significantly during the COVID-19 pandemic creating a much larger cybersecurity attack surface. The implementation of cloud computing together with remote work practices and BYOD policies along with IoT deployments and SaaS offerings creates novel vulnerabilities which serve as new access points for cyber intrusions. These technologies deliver operational efficiency and scalability benefits but create additional challenges for security monitoring and risk management. Enterprises are adopting cloud-native security systems together with identity and access management (IAM), Zero Trust Architecture (ZTA), and Secure Access Service Edge (SASE) approaches due to increasing security demands. The design of these frameworks aims to protect distributed environments without traditional perimeters and maintain security policy compliance for users and assets wherever they exist. The shift toward modern security solutions creates significant opportunities for both established security providers and new cybersecurity startups. Regulatory Pressure and Compliance Requirements: Global cybersecurity legislation and compliance standards growth serves as a major factor that boosts market demand. National governments alongside regulatory organizations have established strict data protection regulations to protect the information of both individuals and companies. Organizations must implement strong cybersecurity practices to meet requirements set by frameworks including Europe's GDPR and CCPA in California as well as HIPAA and PCI DSS standards for specific industries. Failure to comply with regulations can trigger major penalties from authorities while also exposing organizations to legal challenges and reputational harm that leads to decreased customer confidence. Enterprises allocate significant resources toward cybersecurity infrastructure alongside auditing and governance systems to achieve compliance standards. Organizations deploy encryption tools and data loss prevention (DLP) systems while establishing audit logging systems and providing cybersecurity training for employees. National cybersecurity strategies combined with rising geopolitical tensions drive public and private sectors to improve their digital defenses which enhances market growth. Stay Updated on The Latest Cyber Security Market Trends: Geographical Insights: North America's cyber security sector continues to expand rapidly while its projected revenue share exceeds 34% by 2024. Dynamic technological advancements in big data and the Internet of Things (IoT) within the region serve as the driving force behind growth. The expanding operations of IT firms and their business diversification make endpoint device protection an essential priority. The market continues its expansion because government programs work to increase cyber security awareness among organizations while promoting the adoption of strong protective measures. The North America cyber security market will continue to evolve under the influence of these factors in upcoming years. The European cybersecurity industry is expected to undergo significant growth throughout the forecasted time frame. The industry enjoys substantial growth due to increased IT infrastructure development along with rising internet penetration rates and widespread adoption of connected devices and endpoints. The UK cyber security market stands out for its swift expansion because of the rapid adoption of digital technologies alongside the widespread use of connected devices and endpoint devices in extensive organizational networks. The cybersecurity market in the Asia Pacific region is experiencing potential growth due to the rise of data centers and cloud technology adoption. The growth of cyber security positions along with the widespread adoption of IoT devices serve as additional driving forces for this expansion. The region benefits from market expansion because many organizations there have developed innovative cyber security solutions that feature automatic vulnerability detection capabilities. Global Cyber Security Market Segmentation and Geographical Insights: Based on Offering, the cybersecurity market is divided into, Hardware, Software, and Services. The market saw significant growth in 2024, with the hardware segment leading the way, accounting for over 55% of global revenue. Based on Security, the cybersecurity market is divided into, Endpoint security, Cloud Security, Network Security, Application Security, Infrastructure Protection, Data Security, and Others. The infrastructure protection segment dominates the market with substantial revenue share by 2024. Based on Deployment, the cybersecurity market is divided into, Cloud and On-premises. The rise of remote work has significantly impacted the cloud computing market, with 2024 witnessing a substantial surge in its adoption. Based on Organization Size, the cybersecurity market is divided into, Large Enterprises, and SMEs. The largest share of the market revenue in 2024 was held by large enterprises, driven by increased investment in IT infrastructure to bolster digital security and safeguard vast amounts of data storage. Based on Solution, the cybersecurity market is divided into, Unified Threat Management (UTM), Intrusion Detection System/Intrusion Prevention System (IDS/IPS), Data Loss Prevention (DLP), Identity and Access Management (IAM), Security Information and Event Management (SIEM), DDoS, Risk and Compliance Management, AND Others. In 2024, the Identity and Access Management (IAM) segment dominated the market in terms of revenue share, showcasing its significance in mitigating identity theft through robust risk-based programs. Based on End Use, the cybersecurity market is divided into, IT and Telecommunications, Retail and E-Commerce, BFSI, Healthcare, Government and Defense, Manufacturing, Energy and Utilities, Automotive, Marine, Transportation and Logistics, and Others. The IT and telecommunications sector is experiencing significant growth, but also intensifying threats. The Cyber Security Market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Purchase Premium Copy of Global Cyber Security Market Size and Growth Report (2025-2030) at: Key Players and Competitive Landscape: The Global Cyber Security Market is characterized by the presence of several major players, including: Fortinet, Inc. IBM Corporation Microsoft BAE Systems Plc Broadcom, Inc. Centrify Corporation Check Point Software Technology Ltd. Palo Alto Networks, Inc. Proofpoint, Inc. Sophos Ltd. These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Global Cyber Security Market Recent Developments and Innovations: In January 2025: The U.S. government introduced the U.S. Cyber Trust Mark which serves as a cybersecurity safety label for smart consumer devices including security cameras and TVs along with appliances and fitness trackers. The label allows consumers to recognize secure NIST-approved internet-connected devices for home safety. In Dec 2024: Wipro and Netskope, Inc. joined forces to strengthen cybersecurity capabilities for worldwide companies. The CyberTransformSM Optimization Service from Wipro uses Netskope, Inc.'s technology to enable organizations to evaluate and streamline their cybersecurity investments while enhancing cost efficiency and business performance. Through this partnership Wipro offers customized SASE solutions and financial evaluations which bolsters its dedication to innovative and cost-effective security solutions. In October 2024: Atlas Systems introduced ComplyScore which serves as a cybersecurity software to help mid-to-large companies reduce security risks. The company initially targets the healthcare industry because of its potential for strong growth opportunities. ComplyScore enables organizations to recognize and evaluate risks and then implement mitigation strategies across various dimensions. For Region-Specific Market Data, Check Out Brief Sample Pages: Frequently Asked Questions (FAQs): What is the forecasted market size of the Cyber Security Market in 2030?Ø The forecasted market size of the Cyber Security Market is USD 500.70 billion in 2030. Who are the leading players in the Cyber Security Market?Ø The key players in the Cyber Security Market include, Fortinet, Inc.; IBM Corporation; Microsoft; BAE Systems Plc; Broadcom, Inc.; Centrify Corporation; Check Point Software Technology Ltd.; Palo Alto Networks, Inc.; Proofpoint, Inc.; Sophos Ltd. What are the major drivers for the Cyber Security Market? Ø Several key factors are driving this expansion, including the increasing adoption of cloud services and remote work models. Which is the largest region during the forecasted period in the Cyber Security Market?Ø North America's cyber security sector continues to expand rapidly while its projected revenue share exceeds 34% by 2024. Which is the largest segment, by offering, during the forecasted period in the Cyber Security Market?Ø The market saw significant growth in 2024, with the hardware segment leading the way, accounting for over 55% of global revenue. Conclusion: The fast pace of digital transformation throughout various industries alongside increasingly complex cyber threats fuels the growth of the global cybersecurity market. The growing dependence on cloud services alongside IoT technology and remote work conditions demands strong adaptive security systems. Organizations in different sectors are implementing AI-enabled threat detection alongside behavioral analytics and zero-trust architecture models to effectively address emerging dangers. A shortage of cybersecurity professionals results in growing demand for automated security systems and managed security services. The development of stronger regulatory structures alongside data protection legislation compels enterprises to allocate more resources toward compliance-oriented cybersecurity systems. The essential integration of cybersecurity into core digital strategies becomes critical for businesses prioritizing resilience because it establishes digital trust and sustainable growth as fundamental components in the global interconnected economy. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: The report from The Research Insights, therefore, provides several stakeholders— governments, enterprises, financial institutions, healthcare organizations, and educational institutions —with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. With projected growth to US$ 500.70 billion by 2030, the Global Cyber Security Market represents a significant opportunity for cybercriminals, hacktivists, state-sponsored attackers, insider threats, and rogue developers. Check out more related studies published by The Research Insights: Europe Cyber Security Market - The European cyber security landscape has evolved significantly over the past few years, with the market poised to reach USD 60.0 billion by 2023. As a result, the compound annual growth rate (CAGR) for this sector is projected to surge at 12.3% from 2024 to 2030. This upward trend can be attributed to the increasing number of reported cyber-attacks globally, as well as the growing adoption of e-commerce and online payment applications. Cyber Security Training Market - The global cyber security training market size was estimated at USD 4.53 billion in 2023 and is anticipated to grow at a CAGR of 17.4% from 2024 to 2030. As the reliance on unsecured networks, human factors, and technological gaps continues to increase, a multitude of cybersecurity challenges are emerging, including cyber infrastructure damage, data theft, device compromise, and security breaches that pose significant threats to organizational, national, and economic stability. Healthcare Cyber Security Market - The global healthcare cybersecurity market is poised for significant growth, driven by the escalating threat landscape and rising concerns over patient data privacy and security. As of 2023, the market size stands at USD 17.3 billion, with a projected CAGR of 18.5% from 2024 to 2030. The increasing number of cyber-attacks, particularly in the healthcare sector, has become a pressing concern, prompting hospitals and medical institutions to invest heavily in advanced cybersecurity solutions Cyber Security Services Market: The Global Cyber Security Services Market is expected to reach at USD 156.76 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 13.6% during the forecast period. The pressing need to address vulnerabilities in web applications and mobile apps, as well as mitigate data loss risks associated with cybercrimes, is expected to drive the adoption of cyber security services over the forecast period. Browse More related reports on Technology Industry Market Reports – About Us: The Research Insights provides thoroughly conducted research which is backed up by real-time statistics and data. Our experts are eager to help you with any information required under the sun. The key to our success is keeping abreast with the markets, industries, and ever-changing consumer trends that matter. Our market research professionals have in-depth knowledge and expertise across various domains that includes IT and Telecom, Emerging Technologies, Consumer Offerings, Manufacturing and Others. We are committed to reviewing the scope and procedure of the research studies that you select and provide you with an accurate guidance in order to assist you in taking the correct business decisions. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Kaushik Roy E-mail: sales@ +1-312-313-8080Blog: Release: News: | Logo: View original content to download multimedia: SOURCE The Research Insights Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Decentralized Identity Systems Market to Reach USD 11.5 Billion by 2034, Growing at a 20.5% CAGR
Decentralized Identity Systems Market Report 2025–2034 Luton, Bedfordshire, United Kingdom, June 13, 2025 (GLOBE NEWSWIRE) -- Overview and Market Outlook The decentralized identity systems market is undergoing a revolutionary transformation, driven by the increasing global demand for privacy-preserving technologies and stringent data compliance regulations. In 2024, the market is estimated at approximately USD 2.1 billion, and it is forecasted to expand significantly, reaching USD 11.5 billion by 2034. This trajectory reflects a Compound Annual Growth Rate (CAGR) of 20.5% over the forecast period. Download PDF Brochure: Key factors influencing this expansion include rising incidents of identity fraud, the demand for self-managed digital identities, and the shift towards decentralized technologies such as blockchain. As businesses and governments increasingly recognize the benefits of user-centric identity systems, investments and innovations in this space are accelerating. Market Drivers and Growth Catalysts The core driver of this market is the increased awareness of privacy rights and the widespread adoption of data protection regulations across regions. Laws such as GDPR in Europe and CCPA in the U.S. are compelling organizations to prioritize secure identity frameworks that grant users greater control over their personal data. Decentralized identity systems (DIDs), which enable individuals to own, manage, and share their identities without reliance on centralized authorities, align perfectly with these legislative trends. Technological innovation is another major catalyst. Blockchain technology, smart contracts, and public key infrastructure (PKI) are being integrated into identity solutions, enhancing their security, immutability, and transparency. The rise of self-sovereign identity (SSI) models, where individuals possess complete control over their credentials, is also gaining traction across sectors including finance, healthcare, and government services. Challenges and Restraints Despite the market's robust growth potential, several challenges may hinder its pace. One of the main obstacles is the lack of regulatory harmonization across global jurisdictions. While some countries embrace decentralized systems, others are either slow to regulate or promote centralized digital ID programs, creating compliance complexities for multinational businesses. Additionally, user adoption remains a hurdle. Many users lack awareness or understanding of decentralized identity frameworks. Concerns around usability, technical complexity, and the fear of losing control over digital wallets that store identity credentials contribute to skepticism. Moreover, infrastructure challenges—particularly in developing regions—pose barriers to seamless integration. Economic factors such as limited IT budgets, especially during economic downturns, could also restrain investment in advanced identity systems. Meanwhile, supply chain issues and dependence on third-party vendors for implementation may delay deployment and drive up costs. Key Market Segments By Technology Blockchain-Based Systems: These systems dominate the current market due to their robust security, traceability, and decentralized nature. Adoption is strong in industries like financial services and healthcare, where trust and data integrity are paramount. Self-Sovereign Identity (SSI) Solutions: SSI is emerging as a transformative force, empowering users to control their data. As privacy regulations tighten, SSI adoption is expected to outpace traditional identity solutions. Federated Identity Management: Though still in use across legacy systems, federated models are gradually losing market share due to their reliance on centralized intermediaries. Centralized Identity Verification Tools: These tools remain prevalent but are likely to decline as decentralized alternatives gain favor for their enhanced security features. By End User Government Agencies: Governments are at the forefront of adopting decentralized identity systems for citizen ID verification, e-governance, and secure voting. Healthcare Sector: The need for secure, interoperable patient records and regulatory compliance is accelerating adoption in this sector. Financial Services: As fraud prevention and KYC (Know Your Customer) requirements grow, financial institutions are actively transitioning to decentralized identity frameworks. Telecommunications, Retail, Travel, and Education: These sectors are increasingly exploring DID solutions to enhance customer experience, reduce fraud, and digitize credential management. Browse full Report - Market Segmentation Technology Type - Blockchain-Based Systems - Self-Sovereign Identity (SSI) Solutions - Federated Identity Management - Centralized Identity Verification Tools End-User Industry - Government - Healthcare - Financial Services - Telecommunications - Retail - Travel & Hospitality - Education - Other Sectors Deployment Model - Cloud-Based Solutions - On-Premises Solutions - Hybrid Solutions Components - Solutions - Authentication - Access Management - Compliance Management - Other Solutions - Services - Consulting Services - Implementation Services - Support & Maintenance Services Geographic Region - North America - Europe - Asia Pacific - Latin America - Middle East & Africa Regional Insights North America North America holds the largest market share, contributing around 45% of total revenue in 2024. The region benefits from a mature technological infrastructure, widespread blockchain adoption, and strong regulatory frameworks promoting user-centric data control. Major players like Microsoft, IBM, and Okta are headquartered here, further advancing innovation. Europe Europe represents approximately 28% of the global market and continues to expand at a steady pace, bolstered by GDPR and similar privacy-focused regulations. The region's diverse demographic landscape requires versatile identity solutions, encouraging the adoption of decentralized models. However, economic disparities and inconsistent regulation across EU nations could temper growth. Asia-Pacific Asia-Pacific is poised for rapid growth, with a projected CAGR of 20%, driven by factors such as expanding internet access, digital government initiatives, and a tech-savvy population. Countries like India, Singapore, and South Korea are exploring or implementing blockchain-based identity frameworks. However, infrastructure limitations and digital illiteracy in rural areas present challenges. Latin America and Africa These emerging regions hold significant untapped potential. Latin America is seeing increasing demand for secure digital IDs due to rising cybercrime, while Africa's need for identity systems among unbanked populations offers a strong use case for decentralized solutions. Still, economic instability and low technology penetration are hurdles that must be overcome. Recent Market Developments 1. Microsoft Month/Year: November 2023 Type of Development: Partnership Detailed Analysis: Microsoft entered a significant partnership with a leading blockchain consortium, enhancing its decentralized identity offerings. This partnership is intended to integrate Microsoft's Azure Active Directory with decentralized identity protocols, allowing businesses to manage identities more securely and privately. This integration is crucial as organizations increasingly struggle with identity theft and data breaches. By aligning themselves with innovative blockchain solutions, Microsoft positions itself as a key player in the evolving identity landscape. This move not only strengthens its competitive stance against rivals like IBM and Okta but also signals to the market a formidable shift towards decentralized identity management solutions, potentially reshaping industry standards for security and privacy. 2. IBM Month/Year: October 2023 Type of Development: Product Launch Detailed Analysis: IBM launched its new decentralized identity management platform, which leverages advanced cryptography and blockchain technology to enhance user privacy. This platform aims to empower individuals to own and control their identity data. The significance of this launch lies in the increasing consumer demand for privacy-centric solutions in identity management. IBM's entry into this space may compel other traditional identity solution providers to innovate or risk obsolescence. Additionally, this product aligns with global regulatory trends emphasizing data protection, positioning IBM favorably as businesses look for compliant solutions. This could lead to a competitive shift where the emphasis on user privacy becomes the primary differentiator among identity solution providers. 3. Civic Technologies Month/Year: September 2023 Type of Development: Merger Detailed Analysis: Civic Technologies announced a merger with a leading blockchain-based KYC (Know Your Customer) provider to enhance its suite of decentralized identity solutions. The merger aims to streamline identity verification processes while ensuring compliance with regulatory standards. This strategic move has broad implications for the decentralized identity market, as it positions Civic to offer a more comprehensive solution that bridges user privacy with regulatory needs. As concerns over KYC compliance rise, this merger could redefine competitive strategies in the space, prompting other players to explore similar alliances or acquisition strategies to remain relevant. 4. ConsenSys Month/Year: August 2023 Type of Development: Expansion Detailed Analysis: ConsenSys announced plans to expand its decentralized identity platform to several new international markets, including India and Brazil. This strategic expansion is significant as it taps into rapidly growing technology ecosystems in emerging markets, where demand for cutting-edge identity solutions is on the rise. By entering these markets, ConsenSys not only boosts its customer base but also enhances its competitive advantage against local players who may lack the technological backing of established firms. The move could accelerate a broader trend toward decentralized identity adoption in regions previously underserved by large tech companies, thereby reshaping market dynamics. 5. Evernym Month/Year: July 2023 Type of Development: Technological Advancement Detailed Analysis: Evernym unveiled an advanced version of its decentralized identity solution featuring integration capabilities with multiple blockchain networks. This technological advancement allows organizations to choose their preferred blockchain while still benefiting from Evernym's robust identity functionalities. The significance of this development lies in its flexibility, catering to diverse organizational needs and preferences. It challenges competitors to innovate quickly or face obsolescence as organizations seek more customizable solutions. Additionally, this move aligns with the broader industry trend towards interoperability among decentralized systems, emphasizing the importance of cross-platform capabilities in attracting enterprise clients. Buy Now: Key Competitors Microsoft IBM Okta Civic Technologies uPort Evernym Idemia ConsenSys Blockstack SecureKey Technologies Verifiable Credentials Auth0 (acquired by Okta) Trinsic Sovrin Foundation DigiCert Emerging Trends and Future Outlook The market is poised to benefit from several emerging trends: Integration with AI and Machine Learning: These technologies are being embedded into identity verification systems to enhance fraud detection, risk profiling, and user authentication. Shift to Subscription-Based Models: Enterprises are increasingly preferring pay-as-you-go services for identity management, reducing upfront costs and driving market accessibility. Interoperability and Open Standards: With growing demand for cross-platform identity solutions, interoperability is becoming a key focus area, driving collaborations and consortia development. Consumer Behavior Shift: Awareness of personal data rights is increasing. Users now prioritize platforms that respect their privacy, creating opportunities for brands that offer transparent, decentralized identity solutions. Education and Awareness Campaigns: As more stakeholders understand the benefits of decentralized identities, adoption is expected to accelerate, particularly with strategic outreach in underrepresented markets. This report is also available in the following languages : Japanese (分散型アイデンティティシステム市場), Korean (분산형 ID 시스템 시장), Chinese (去中心化身份系统市场), French (Marché des systèmes d'identité décentralisés), German (Markt für dezentrale Identitätssysteme), and Italian (Mercato dei sistemi di identità decentralizzati), etc. Request Sample Pages: More Research Finding – Cloud Infrastructure Entitlement Management CIEM Market The Cloud Infrastructure Entitlement Management (CIEM) market is poised for substantial growth, with an anticipated market value of approximately $2 billion in 2024. Projections suggest that the market will expand to around $6 billion by 2034. Commercial Cryptography Application Security Evaluation Market The commercial cryptography application market is projected to reach a value of approximately USD 12.5 billion in 2024. As the landscape of cybersecurity evolves, the market is anticipated to grow significantly, with an estimated value of USD 25 billion by 2034. This growth translates to a robust Compound Annual Growth Rate (CAGR) of around 7.5% from 2025 to 2034. Cyber Security Solutions for SMBs Market The global market for cyber security solutions targeting Small and Medium-sized Businesses (SMBs) is projected to reach approximately $25 billion in 2024, with a robust growth forecast pushing this figure to around $70 billion by 2034. This translates to a Compound Annual Growth Rate (CAGR) of about 11% over the period from 2025 to 2034. Blockchain Software Market The global blockchain software market is valued at approximately $10.8 billion in 2024, with a robust growth trajectory expected as increasing adoption across various sectors accelerates. Projected to reach around $30 billion by 2034, this market's Compound Annual Growth Rate (CAGR) is estimated at 10.8% during the forecast period from 2025 to 2034. Ecommerce Fraud Prevention Software Market The global eCommerce fraud prevention software market is projected to reach approximately USD 32.1 billion in 2024, driven by escalating online transactions and an increase in sophisticated cyber threats. Forecasts indicate a robust growth trajectory, with a projected market value of around USD 70.4 billion by 2034, reflecting a compound annual growth rate (CAGR) of 8.4% during the period from 2025 to 2034. Identity and Access Management IAM Software Market The global Identity and Access Management (IAM) software market is valued at approximately $15.5 billion, reflecting a robust demand driven by an increasing focus on cybersecurity, regulatory compliance, and the need for streamlined user access across burgeoning digital environments. The market is projected to grow significantly, reaching an estimated value of $34.7 billion by 2034. This growth translates to a compelling Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period from 2025 to 2034. Digital Risk Protection Platform Market The global Digital Risk Protection Platform (DRPP) market is valued at approximately $2.5 billion. This market is projected to reach around $6.8 billion by 2034, reflecting a robust Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period from 2025 to 2034. Identity Theft & Fraud Protection Market The global identity theft and fraud protection market is valued at approximately $21 billion, driven by increasing digital transactions and rising concerns over personal data security. The market is set to expand significantly through the forecast period from 2025 to 2034, with a projected market value reaching $45 billion by 2034. This represents a robust Compound Annual Growth Rate (CAGR) of around 8.1%. Zero Trust Cloud Security Platform Market The global Zero Trust Cloud Security Platform market is valued at approximately $20 billion, reflecting the growing demand for enhanced cybersecurity solutions amid increasing cyber threats. The market is projected to reach around $45 billion by 2034, driven by the rising adoption of remote work, cloud services, and stringent regulatory compliance. Cloud-base Security Software Market The global cloud-based security software market is poised for significant growth, with a projected market value of approximately $35 billion in 2024. Forecasts indicate a robust expansion, anticipating a market valuation of around $65 billion by 2034. This growth corresponds to a Compound Annual Growth Rate (CAGR) of about 7.0% during the forecast period from 2025 to 2034. KYC and ID Verification Market The global Know Your Customer (KYC) and ID verification market is valued at approximately $5.3 billion. With increasing regulatory requirements across various industries and the growing adoption of digital platforms, the market is expected to reach $12.2 billion by 2034. This trend translates to a robust Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period from 2025 to 2034. Identity as a Service IDaaS Market The Global Identity as a Service (IDaaS) market is poised for significant growth, with a projected value of approximately $7.5 billion in 2024. This sector is expected to expand at a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2034, potentially reaching around $30 billion by the end of the forecast period. Decentralized Identifiers DIDs Technology Market The global Decentralized Identifiers (DIDs) technology market is anticipated to reach an estimated value of $2.9 billion in 2024, driven by the increasing demand for secure digital identities and enhanced data privacy. The market is projected to grow significantly, with a compound annual growth rate (CAGR) of approximately 28% from 2025 to 2034, potentially reaching $11.4 billion by the end of the forecast period. Identity Analytics Market The global identity analytics market is valued at approximately $2.5 billion in 2024, with projections indicating a robust growth trajectory, anticipated to reach about $7.1 billion by 2034. This equates to a Compound Annual Growth Rate (CAGR) of approximately 12% during the forecast period from 2025 to 2034. ID Verification Systems Market The global ID verification systems market is valued at approximately $10 billion, reflecting the increasing demand for secure authentication solutions across industries such as finance, travel, and e-commerce. The market is projected to reach around $25 billion by 2034, exhibiting significant growth driven by the rising adoption of digital services and stringent regulatory requirements for identity verification. ID Scanner Market The global ID scanner market is valued at approximately $2.5 billion in 2024, with a projected increase to $5.6 billion by 2034. This reflects a robust Compound Annual Growth Rate (CAGR) of 8.3% over the forecast period from 2025 to 2034. Human Identification Analysis Software Market The global Human Identification Analysis Software market is projected to reach a valuation of approximately $5.2 billion in 2024, driven by the increasing demand for security and forensic applications. The market is anticipated to exhibit steady growth, reaching an estimated value of $9.8 billion by 2034, which translates to a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period of 2025–2034. US IoT Identity Access Management Market The IoT Identity and Access Management (IAM) market is projected to reach a value of approximately $1.3 billion in 2024, driven by the increasing integration of IoT devices across various industries. This market is expected to grow significantly, with a forecasted value of around $3.4 billion by 2034, reflecting the growing importance of cybersecurity protocols in managing access to interconnected devices. Identity Verification Market The global identity verification market was valued at approximately USD 11.97 billion in 2024. It is projected to reach around USD 39.82 billion by 2032, indicating a compound annual growth rate (CAGR) of about 16.2% during the forecast period from 2025 to 2032. IoT Identity Access Management Market The global Internet of Things Identity and Access Management (IoT IAM) market was valued at approximately USD 6.13 billion in 2024 and is projected to reach around USD 32.81 billion by 2033, indicating a compound annual growth rate (CAGR) of about 20.5% during the forecast period from 2025 to 2033. CONTACT: Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@
Yahoo
13-06-2025
- Business
- Yahoo
Decentralized Identity Systems Market to Reach USD 11.5 Billion by 2034, Growing at a 20.5% CAGR
Decentralized Identity Systems Market Report 2025–2034 Luton, Bedfordshire, United Kingdom, June 13, 2025 (GLOBE NEWSWIRE) -- Overview and Market Outlook The decentralized identity systems market is undergoing a revolutionary transformation, driven by the increasing global demand for privacy-preserving technologies and stringent data compliance regulations. In 2024, the market is estimated at approximately USD 2.1 billion, and it is forecasted to expand significantly, reaching USD 11.5 billion by 2034. This trajectory reflects a Compound Annual Growth Rate (CAGR) of 20.5% over the forecast period. Download PDF Brochure: Key factors influencing this expansion include rising incidents of identity fraud, the demand for self-managed digital identities, and the shift towards decentralized technologies such as blockchain. As businesses and governments increasingly recognize the benefits of user-centric identity systems, investments and innovations in this space are accelerating. Market Drivers and Growth Catalysts The core driver of this market is the increased awareness of privacy rights and the widespread adoption of data protection regulations across regions. Laws such as GDPR in Europe and CCPA in the U.S. are compelling organizations to prioritize secure identity frameworks that grant users greater control over their personal data. Decentralized identity systems (DIDs), which enable individuals to own, manage, and share their identities without reliance on centralized authorities, align perfectly with these legislative trends. Technological innovation is another major catalyst. Blockchain technology, smart contracts, and public key infrastructure (PKI) are being integrated into identity solutions, enhancing their security, immutability, and transparency. The rise of self-sovereign identity (SSI) models, where individuals possess complete control over their credentials, is also gaining traction across sectors including finance, healthcare, and government services. Challenges and Restraints Despite the market's robust growth potential, several challenges may hinder its pace. One of the main obstacles is the lack of regulatory harmonization across global jurisdictions. While some countries embrace decentralized systems, others are either slow to regulate or promote centralized digital ID programs, creating compliance complexities for multinational businesses. Additionally, user adoption remains a hurdle. Many users lack awareness or understanding of decentralized identity frameworks. Concerns around usability, technical complexity, and the fear of losing control over digital wallets that store identity credentials contribute to skepticism. Moreover, infrastructure challenges—particularly in developing regions—pose barriers to seamless integration. Economic factors such as limited IT budgets, especially during economic downturns, could also restrain investment in advanced identity systems. Meanwhile, supply chain issues and dependence on third-party vendors for implementation may delay deployment and drive up costs. Key Market Segments By Technology Blockchain-Based Systems: These systems dominate the current market due to their robust security, traceability, and decentralized nature. Adoption is strong in industries like financial services and healthcare, where trust and data integrity are paramount. Self-Sovereign Identity (SSI) Solutions: SSI is emerging as a transformative force, empowering users to control their data. As privacy regulations tighten, SSI adoption is expected to outpace traditional identity solutions. Federated Identity Management: Though still in use across legacy systems, federated models are gradually losing market share due to their reliance on centralized intermediaries. Centralized Identity Verification Tools: These tools remain prevalent but are likely to decline as decentralized alternatives gain favor for their enhanced security features. By End User Government Agencies: Governments are at the forefront of adopting decentralized identity systems for citizen ID verification, e-governance, and secure voting. Healthcare Sector: The need for secure, interoperable patient records and regulatory compliance is accelerating adoption in this sector. Financial Services: As fraud prevention and KYC (Know Your Customer) requirements grow, financial institutions are actively transitioning to decentralized identity frameworks. Telecommunications, Retail, Travel, and Education: These sectors are increasingly exploring DID solutions to enhance customer experience, reduce fraud, and digitize credential management. Browse full Report - Market Segmentation Technology Type - Blockchain-Based Systems - Self-Sovereign Identity (SSI) Solutions - Federated Identity Management - Centralized Identity Verification Tools End-User Industry - Government - Healthcare - Financial Services - Telecommunications - Retail - Travel & Hospitality - Education - Other Sectors Deployment Model - Cloud-Based Solutions - On-Premises Solutions - Hybrid Solutions Components - Solutions - Authentication - Access Management - Compliance Management - Other Solutions - Services - Consulting Services - Implementation Services - Support & Maintenance Services Geographic Region - North America - Europe - Asia Pacific - Latin America - Middle East & Africa Regional Insights North America North America holds the largest market share, contributing around 45% of total revenue in 2024. The region benefits from a mature technological infrastructure, widespread blockchain adoption, and strong regulatory frameworks promoting user-centric data control. Major players like Microsoft, IBM, and Okta are headquartered here, further advancing innovation. Europe Europe represents approximately 28% of the global market and continues to expand at a steady pace, bolstered by GDPR and similar privacy-focused regulations. The region's diverse demographic landscape requires versatile identity solutions, encouraging the adoption of decentralized models. However, economic disparities and inconsistent regulation across EU nations could temper growth. Asia-Pacific Asia-Pacific is poised for rapid growth, with a projected CAGR of 20%, driven by factors such as expanding internet access, digital government initiatives, and a tech-savvy population. Countries like India, Singapore, and South Korea are exploring or implementing blockchain-based identity frameworks. However, infrastructure limitations and digital illiteracy in rural areas present challenges. Latin America and Africa These emerging regions hold significant untapped potential. Latin America is seeing increasing demand for secure digital IDs due to rising cybercrime, while Africa's need for identity systems among unbanked populations offers a strong use case for decentralized solutions. Still, economic instability and low technology penetration are hurdles that must be overcome. Recent Market Developments 1. Microsoft Month/Year: November 2023 Type of Development: Partnership Detailed Analysis: Microsoft entered a significant partnership with a leading blockchain consortium, enhancing its decentralized identity offerings. This partnership is intended to integrate Microsoft's Azure Active Directory with decentralized identity protocols, allowing businesses to manage identities more securely and privately. This integration is crucial as organizations increasingly struggle with identity theft and data breaches. By aligning themselves with innovative blockchain solutions, Microsoft positions itself as a key player in the evolving identity landscape. This move not only strengthens its competitive stance against rivals like IBM and Okta but also signals to the market a formidable shift towards decentralized identity management solutions, potentially reshaping industry standards for security and privacy. 2. IBM Month/Year: October 2023 Type of Development: Product Launch Detailed Analysis: IBM launched its new decentralized identity management platform, which leverages advanced cryptography and blockchain technology to enhance user privacy. This platform aims to empower individuals to own and control their identity data. The significance of this launch lies in the increasing consumer demand for privacy-centric solutions in identity management. IBM's entry into this space may compel other traditional identity solution providers to innovate or risk obsolescence. Additionally, this product aligns with global regulatory trends emphasizing data protection, positioning IBM favorably as businesses look for compliant solutions. This could lead to a competitive shift where the emphasis on user privacy becomes the primary differentiator among identity solution providers. 3. Civic Technologies Month/Year: September 2023 Type of Development: Merger Detailed Analysis: Civic Technologies announced a merger with a leading blockchain-based KYC (Know Your Customer) provider to enhance its suite of decentralized identity solutions. The merger aims to streamline identity verification processes while ensuring compliance with regulatory standards. This strategic move has broad implications for the decentralized identity market, as it positions Civic to offer a more comprehensive solution that bridges user privacy with regulatory needs. As concerns over KYC compliance rise, this merger could redefine competitive strategies in the space, prompting other players to explore similar alliances or acquisition strategies to remain relevant. 4. ConsenSys Month/Year: August 2023 Type of Development: Expansion Detailed Analysis: ConsenSys announced plans to expand its decentralized identity platform to several new international markets, including India and Brazil. This strategic expansion is significant as it taps into rapidly growing technology ecosystems in emerging markets, where demand for cutting-edge identity solutions is on the rise. By entering these markets, ConsenSys not only boosts its customer base but also enhances its competitive advantage against local players who may lack the technological backing of established firms. The move could accelerate a broader trend toward decentralized identity adoption in regions previously underserved by large tech companies, thereby reshaping market dynamics. 5. Evernym Month/Year: July 2023 Type of Development: Technological Advancement Detailed Analysis: Evernym unveiled an advanced version of its decentralized identity solution featuring integration capabilities with multiple blockchain networks. This technological advancement allows organizations to choose their preferred blockchain while still benefiting from Evernym's robust identity functionalities. The significance of this development lies in its flexibility, catering to diverse organizational needs and preferences. It challenges competitors to innovate quickly or face obsolescence as organizations seek more customizable solutions. Additionally, this move aligns with the broader industry trend towards interoperability among decentralized systems, emphasizing the importance of cross-platform capabilities in attracting enterprise clients. Buy Now: Key Competitors Microsoft IBM Okta Civic Technologies uPort Evernym Idemia ConsenSys Blockstack SecureKey Technologies Verifiable Credentials Auth0 (acquired by Okta) Trinsic Sovrin Foundation DigiCert Emerging Trends and Future Outlook The market is poised to benefit from several emerging trends: Integration with AI and Machine Learning: These technologies are being embedded into identity verification systems to enhance fraud detection, risk profiling, and user authentication. Shift to Subscription-Based Models: Enterprises are increasingly preferring pay-as-you-go services for identity management, reducing upfront costs and driving market accessibility. Interoperability and Open Standards: With growing demand for cross-platform identity solutions, interoperability is becoming a key focus area, driving collaborations and consortia development. Consumer Behavior Shift: Awareness of personal data rights is increasing. Users now prioritize platforms that respect their privacy, creating opportunities for brands that offer transparent, decentralized identity solutions. Education and Awareness Campaigns: As more stakeholders understand the benefits of decentralized identities, adoption is expected to accelerate, particularly with strategic outreach in underrepresented markets. This report is also available in the following languages : Japanese (分散型アイデンティティシステム市場), Korean (분산형 ID 시스템 시장), Chinese (去中心化身份系统市场), French (Marché des systèmes d'identité décentralisés), German (Markt für dezentrale Identitätssysteme), and Italian (Mercato dei sistemi di identità decentralizzati), etc. Request Sample Pages: More Research Finding – Cloud Infrastructure Entitlement Management CIEM Market The Cloud Infrastructure Entitlement Management (CIEM) market is poised for substantial growth, with an anticipated market value of approximately $2 billion in 2024. Projections suggest that the market will expand to around $6 billion by 2034. Commercial Cryptography Application Security Evaluation Market The commercial cryptography application market is projected to reach a value of approximately USD 12.5 billion in 2024. As the landscape of cybersecurity evolves, the market is anticipated to grow significantly, with an estimated value of USD 25 billion by 2034. This growth translates to a robust Compound Annual Growth Rate (CAGR) of around 7.5% from 2025 to 2034. Cyber Security Solutions for SMBs Market The global market for cyber security solutions targeting Small and Medium-sized Businesses (SMBs) is projected to reach approximately $25 billion in 2024, with a robust growth forecast pushing this figure to around $70 billion by 2034. This translates to a Compound Annual Growth Rate (CAGR) of about 11% over the period from 2025 to 2034. Blockchain Software Market The global blockchain software market is valued at approximately $10.8 billion in 2024, with a robust growth trajectory expected as increasing adoption across various sectors accelerates. Projected to reach around $30 billion by 2034, this market's Compound Annual Growth Rate (CAGR) is estimated at 10.8% during the forecast period from 2025 to 2034. Ecommerce Fraud Prevention Software Market The global eCommerce fraud prevention software market is projected to reach approximately USD 32.1 billion in 2024, driven by escalating online transactions and an increase in sophisticated cyber threats. Forecasts indicate a robust growth trajectory, with a projected market value of around USD 70.4 billion by 2034, reflecting a compound annual growth rate (CAGR) of 8.4% during the period from 2025 to 2034. Identity and Access Management IAM Software Market The global Identity and Access Management (IAM) software market is valued at approximately $15.5 billion, reflecting a robust demand driven by an increasing focus on cybersecurity, regulatory compliance, and the need for streamlined user access across burgeoning digital environments. The market is projected to grow significantly, reaching an estimated value of $34.7 billion by 2034. This growth translates to a compelling Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period from 2025 to 2034. Digital Risk Protection Platform Market The global Digital Risk Protection Platform (DRPP) market is valued at approximately $2.5 billion. This market is projected to reach around $6.8 billion by 2034, reflecting a robust Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period from 2025 to 2034. Identity Theft & Fraud Protection Market The global identity theft and fraud protection market is valued at approximately $21 billion, driven by increasing digital transactions and rising concerns over personal data security. The market is set to expand significantly through the forecast period from 2025 to 2034, with a projected market value reaching $45 billion by 2034. This represents a robust Compound Annual Growth Rate (CAGR) of around 8.1%. Zero Trust Cloud Security Platform Market The global Zero Trust Cloud Security Platform market is valued at approximately $20 billion, reflecting the growing demand for enhanced cybersecurity solutions amid increasing cyber threats. The market is projected to reach around $45 billion by 2034, driven by the rising adoption of remote work, cloud services, and stringent regulatory compliance. Cloud-base Security Software Market The global cloud-based security software market is poised for significant growth, with a projected market value of approximately $35 billion in 2024. Forecasts indicate a robust expansion, anticipating a market valuation of around $65 billion by 2034. This growth corresponds to a Compound Annual Growth Rate (CAGR) of about 7.0% during the forecast period from 2025 to 2034. KYC and ID Verification Market The global Know Your Customer (KYC) and ID verification market is valued at approximately $5.3 billion. With increasing regulatory requirements across various industries and the growing adoption of digital platforms, the market is expected to reach $12.2 billion by 2034. This trend translates to a robust Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period from 2025 to 2034. Identity as a Service IDaaS Market The Global Identity as a Service (IDaaS) market is poised for significant growth, with a projected value of approximately $7.5 billion in 2024. This sector is expected to expand at a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2034, potentially reaching around $30 billion by the end of the forecast period. Decentralized Identifiers DIDs Technology Market The global Decentralized Identifiers (DIDs) technology market is anticipated to reach an estimated value of $2.9 billion in 2024, driven by the increasing demand for secure digital identities and enhanced data privacy. The market is projected to grow significantly, with a compound annual growth rate (CAGR) of approximately 28% from 2025 to 2034, potentially reaching $11.4 billion by the end of the forecast period. Identity Analytics Market The global identity analytics market is valued at approximately $2.5 billion in 2024, with projections indicating a robust growth trajectory, anticipated to reach about $7.1 billion by 2034. This equates to a Compound Annual Growth Rate (CAGR) of approximately 12% during the forecast period from 2025 to 2034. ID Verification Systems Market The global ID verification systems market is valued at approximately $10 billion, reflecting the increasing demand for secure authentication solutions across industries such as finance, travel, and e-commerce. The market is projected to reach around $25 billion by 2034, exhibiting significant growth driven by the rising adoption of digital services and stringent regulatory requirements for identity verification. ID Scanner Market The global ID scanner market is valued at approximately $2.5 billion in 2024, with a projected increase to $5.6 billion by 2034. This reflects a robust Compound Annual Growth Rate (CAGR) of 8.3% over the forecast period from 2025 to 2034. Human Identification Analysis Software Market The global Human Identification Analysis Software market is projected to reach a valuation of approximately $5.2 billion in 2024, driven by the increasing demand for security and forensic applications. The market is anticipated to exhibit steady growth, reaching an estimated value of $9.8 billion by 2034, which translates to a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period of 2025–2034. US IoT Identity Access Management Market The IoT Identity and Access Management (IAM) market is projected to reach a value of approximately $1.3 billion in 2024, driven by the increasing integration of IoT devices across various industries. This market is expected to grow significantly, with a forecasted value of around $3.4 billion by 2034, reflecting the growing importance of cybersecurity protocols in managing access to interconnected devices. Identity Verification Market The global identity verification market was valued at approximately USD 11.97 billion in 2024. It is projected to reach around USD 39.82 billion by 2032, indicating a compound annual growth rate (CAGR) of about 16.2% during the forecast period from 2025 to 2032. IoT Identity Access Management Market The global Internet of Things Identity and Access Management (IoT IAM) market was valued at approximately USD 6.13 billion in 2024 and is projected to reach around USD 32.81 billion by 2033, indicating a compound annual growth rate (CAGR) of about 20.5% during the forecast period from 2025 to 2033. CONTACT: Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
