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- Outsourced Software Testing Market is projected to reach USD 5.28 Billion by 2032, growing at a CAGR of 4.02% from 2023 to 2032.
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- Outsourced Software Testing Market is projected to reach USD 5.28 Billion by 2032, growing at a CAGR of 4.02% from 2023 to 2032.
- Decentralized Identity Market is expected to reach USD 91.5 Billion by 2032, growing at an 90.20% CAGR | Decentralized Identity Industry
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- (2024)
- 1Market Size and Growth: Decentralized Identity Market Size was valued at USD 0.28 Billion in 2022. The Decentralized Identity market industry is projected to grow from USD 0.53 Billion in 2023 to USD 91.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 90.20% during the forecast period (2023 - 2032). Increased use of blockchain technology and the rising digitalization of several industries are the key market drivers enhancing market growth. Key Players: • Microsoft (US) • Accenture (Ireland) • Persistent (India) • Wipro (India) • SecureKey Technologies (Canada) • R3 (US) • Avast (Czech Republic) • Validated ID (Spain) • Serto (US) • Ping Identity (US) • NuID (US) • Dragonchain (US) • Nuggets (UK) • Finema (Thailand) • Datarella (Germany) • Civic Technologies (US) • 1Kosmos (US) • Affinidy (Singapore) • Hu-manity (US) • SelfKey (Mauritius) Free Sample Copy — Obtain a free copy of our sample report to get a taste of our research expertise https://www.marketresearchfuture.com/sample_request/11652 Decentralized Identity Market Growth • This signifies a massive potential for growth, driven by several factors: • Increasing inefficiencies in existing identity management systems. • Rising data breaches and identity-related fraud. • User demand for control over their personal data. • Growing adoption of blockchain technology for secure data storage and verification. Market Segmentation: The global Decentralized Identity market segmentation, based on Identity type, includes non-biometrics and biometrics. The biometrics segment dominated the market, accounting for the maximum of market revenue due to rising fraudulent activities. When it comes to confirming someone's identity, biometrics identifiers like voice recognition, iris scans, fingerprints, and facial recognition offer a high degree of security and accuracy. This kind of identity verification is very dependable for building trust in digital interactions since it provides a high degree of verification and is challenging to counterfeit or duplicate. Users can also benefit from the convenience and usability of biometric identity. Market Trends: Market CAGR for decentralized identity is driven by the rising use of blockchain technology. The emergence of blockchain technology has opened the door for decentralized identity management systems. Blockchain technology offers an unchangeable, transparent record for safely storing and authenticating identity data. It lowers costs and boosts efficiency by doing away with the need for intermediaries and establishing a trustless environment where identity verification may be completed directly between parties. Future Outlook: The decentralized identity market is expected to witness significant growth in the coming years, driven by the increasing need for secure and user-centric identity management solutions. The adoption of blockchain technology, interoperable standards, and regulatory frameworks will play a crucial role in this growth. Decentralized identity has the potential to revolutionize the way we interact online, providing greater control, privacy, and security for individuals and organizations alike Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) https://www.marketresearchfuture.com/reports/decentralized-identity-market-11652 Related Reports: No-Code AI Platform Market — https://www.marketresearchfuture.com/reports/no-code-ai-platform-market-11647 Dealer Management System Market — https://www.marketresearchfuture.com/reports/dealer-management-system-market-11648 Game Development Software Market — https://www.marketresearchfuture.com/reports/game-development-software-market-11651 5g Demand and Service Market — https://www.marketresearchfuture.com/reports/5g-demand-and-services-market-16099 About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Also, we are launching "Wantstats" the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, regional and segment analysis. Stay informed and make data-driven decisions with Wantstats. Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com(2024)