The Global Self Sovereign Identity (SSI) Market study with 132+ market data Tables, Pie charts & Figures is now released by HTF MI. The research assessment of the Market is designed to analyse futuristic trends, growth factors, industry opinions, and industry-validated market facts to forecast till 2030. The market Study is segmented by key a region that is accelerating the marketization. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. Some of the players studied are Microsoft (United States), IBM (United States), Sovrin Foundation (United States), Evernym (United States), uPort (Switzerland), Trust Frameworks (United States), Energy Web (United States), SecureKey Technologies (Canada), Ontotext (Bulgaria), Veres One (United States).
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According to HTF Market Intelligence, the global Self Sovereign Identity (SSI) market is valued at USD Million in 2023 and estimated to reach a revenue of USD Million by 2030, with a CAGR of 82.1% from 2023 to 2030.
Definition:
Self-Sovereign Identity (SSI) refers to a digital identity management model that enables individuals to own, control, and manage their personal identity information independently of any central authority or third-party intermediaries.
Market Drivers:
1)Data Privacy and Control
2)Decentralization
Market Opportunities:
1)Enhanced User Experience
2)Innovation in Services
Market Leaders & Development Strategies
In November 2023, Energy Web announced that it has entered into a partnership framework with a European-based energy company, Elia Group, to innovate a digital identity app that incorporates an efficient data exchange system between heat pumps and electric vehicles. Regulatory factors in the Self Sovereign Identity (SSI) market are influenced by various authorities, including the European Union’s General Data Protection Regulation (GDPR), which emphasizes data protection and user consent. In the United States, regulations like the California Consumer Privacy Act (CCPA) impact how personal data must be managed and protected.
Global Self Sovereign Identity (SSI) Market Competitive Analysis
Know your current market situation! Not just new products but ongoing products are also essential to analyse due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.
Players Included in Research Coverage: Microsoft (United States), IBM (United States), Sovrin Foundation (United States), Evernym (United States), uPort (Switzerland), Trust Frameworks (United States), Energy Web (United States), SecureKey Technologies (Canada), Ontotext (Bulgaria), Veres One (United States)
Additionally, Past Global Self Sovereign Identity (SSI) Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.
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Segmentation and Targeting
Essential demographic, geographic, psychographic, and behavioural information about business segments in the Self Sovereign Identity (SSI) market is targeted to aid in determining the features the company should encompass in order to fit into the business’s requirements. For the Consumer-based market – the study is also classified with Market Maker information in order to understand better who the clients are, their buying behaviour, and patterns.
Self Sovereign Identity (SSI) Product Types In-Depth: Based on Public Blockchain, Based on Private Blockchain, Based on Consortium Blockchain
Self Sovereign Identity (SSI) Major Applications/End users: Banking, Financial Services and Insurance, Healthcare and Life Sciences, Telecommunication and IT, Retail and Consumer Goods, Transportations and Logistics
Self Sovereign Identity (SSI) Major Geographical First Level Segmentation:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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Research Objectives:
– Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
– To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
– To analyse the with respect to individual future prospects, growth trends and their involvement to the total market.
– To analyse reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
– To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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