The "Europe Decentralized Identity Market Size, Share Industry Trends Analysis Report By Identity Type (Non- biometrics and Biometrics), By Vertical, By Organization size, By End user (Enterprises and Individual), By Country and Growth Forecast, 2022 2028" report has been added to ResearchAndMarkets.com's offering.
The Europe Decentralized Identity Market is expected to witness market growth of 77.8% CAGR during the forecast period (2022-2028).
By their very nature, blockchain-based transactions are visible and transparent; however access and visibility could be restricted. Land registries, realtors overseeing property listings, insurance firms, banks, and a variety of other businesses can all be linked to decentralized identities.
Decentralized identities allow constructing an edge solution with transparent, verifiable procedures in a trustless environment on a personal, company, or government level without losing privacy or the security of critical information. Several real estate processes are still performed on paper, which can be costly and lead to more manual errors.
In a system where customers consent to exchanging credentials, requesting only the essential credentials for individuals to establish their identities creates a new level of confidence and transparency between organizations and individuals. With developers, decentralized identity removes the requirement for passwords and complex authentication methods, allowing for higher app design standards.
Governments across this region understand the importance of adopting latest technologies and protecting users from any kind of data breaches.
The ability to develop trust, particularly online, has become increasingly vital in this digital age. The foundation of future economies is expected to be having an agreed-upon digital identity that can be used easily and universally. A trust framework is a set of agreed-upon rules and standards that organizations must adhere to. If a company is a member of the digital identity trust framework, customers can rest assured that they adhere to agreed-upon standards to secure personal data and privacy.
The UK digital identity and attributes trust framework lays out standards so that businesses may understand what constitutes 'excellent' identity verification. Every business in the trust framework can ensure that they operate in a similar, trustworthy manner by adhering to these rules and criteria.
This means that if visitors create a digital identity in the future, they may be able to use it in a variety of situations, for example, if users created a digital identity to open a bank account safely, they may be able to use it to find a new job faster or rent a home without forced to share all of their personal identity data with the landlord or estate agent.
The Germany market dominated the Europe Decentralized Identity Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $580.4 million by 2028. The UK market is experiencing a CAGR of 76.3% during (2022-2028). Additionally, The France market is expected to exhibit a CAGR of 79.1% during (2022-2028).
Scope of the Study
Market Segments Covered in the Report:
By Identity Type
- Non- biometrics
- Telecom IT
- Real Estate
- Retail Ecommerce
- Government Public Sector
- Healthcare Life Sciences
- Media Entertainment
- Transport Logistics
- Travel Hospitality
By Organization size
- Large Enterprises
By End user
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Accenture PLC
- Microsoft Corporation
- Ping Identity Holding Corp. (Vista Equity Partners)
- Avast Software s.r.o.
- Wipro Limited
- Persistent Systems Limited
- Civic Technologies, Inc.
- Nuggets Ltd
- R3 LLC
- Validated ID, SL
For more information about this report visit https://www.researchandmarkets.com/r/aewwa3
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005560/en/
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