Global Decentralized Identifiers (DIDs) Technology Market Expected to Achieve 80.6% CAGR by 2029: Growth Forecast Insights

Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Decentralized Identifiers (DIDs) Technology Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for decentralized identifiers (dids) technology has experienced substantial expansion in recent times. The market size is projected to rise from $1.07 billion in 2024 to reach $1.99 billion in 2025, with a compound annual growth rate (CAGR) of 86.0%. The remarkable growth during the historic period can be associated with factors such as concerns about security and data breach incidents, threats related to cybersecurity, insufficient cybersecurity protocols, human errors, exposure in supply chains, non-compliance to regulations, and an increase in demand for identity and verification solutions.

Decentralized Identifiers (DIDs) Technology Market Size Forecast: What's the Projected Valuation by 2029?
We anticipate a significant expansion of the decentralized identifiers (dids) technology market during the foroming years, with a projected growth to $21.15 billion by 2029 and a compound annual growth rate (CAGR) of 80.6%. The predicted surge within this period is due to several factors such as the rise in acceptance of decentralized technologies, increased concerns about privacy and data ownership, mandatory regulations for data safety, evolution in identity management technology, emergence of decentralized finance (defi), connectivity of DID with internet of things (IoT) devices, and industrial collaborations for standardization and operation compatibility. Forecast trends for this period encompass improvements in blockchain and distributed ledger technology, emergence of self-sovereign identity (SSI) solutions, application of zero-knowledge proof strategies, increased use of decentralized authentication methods, adoption of biometric authentication for identity checks, amalgamation of decentralized identifiers with digital wallets, and the development of interoperable identity protocols.

View the full report here:
https://www.thebusinessresearchcompany.com/report/decentralized-identifiers-dids-technology-global-market-report

What Are the Drivers Transforming the Decentralized Identifiers (DIDs) Technology Market?
The increasing concerns about security and data leaks are likely to fuel the growth of the decentralized identifiers (DIDs) technology market in the future. These concerns relate to activities involving the safeguarding of data, systems, and networks from unauthorized access, use, disclosure, disruption, alteration, or annihilation. Reasons for security concerns and data leaks can range from cyber threats, insufficient cybersecurity measures, human error, supply chain risks, to a lack of adherence to regulations. DIDs technology boosts security against data leaks and cyber invasions by delivering unalterable, verifiable, and privacy-safeguarding digital identities. For instance, a report by Check Point, a software security firm based in Israel, in January 2023 highlighted a 38% increase in worldwide cyber-attacks in 2022 when compared to 2021. The communications sector experienced an average of 1,380 weekly attacks per organization, which was a 27% rise from 2021. In the same vein, the ISP/MSP industry faced an average of 1,372 attacks per organization weekly in 2022, indicating a 28% rise from previous year. As a result, the increase in security concerns and data leaks is providing a significant boost to the decentralized identifiers (DIDs) technology market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16394&type=smp

What Long-Term Trends Will Define the Future of the Decentralized Identifiers (DIDs) Technology Market?
Leading entities in the decentralized identifiers (DIDs) technology industry are implementing blockchain technologies like digital identification and credential confirmation systems to bolster user influence over their personal data, bolstering trust and security in online exchanges. These platforms facilitate secure, inviolable, and confidential user details across numerous sectors utilizing encrypted storage, interoperable exchanges, and decentralized identity administration. For example, in February 2023, Wipro Limited, a technological services and consultation firm based in India, introduced Decentralized Identity and Credential Exchange (DICE) ID. The objective of this initiative is to bestow power upon users to administer their personal data through blockchain-oriented technology. DICE ID accelerates the generation and validation of inviolable digital credentials, enabling users to secure their confirmed personal data in their identity wallet. This wallet can share identity or credentials safely for an array of purposes such as employment, healare, financial services, or education.

Which Segments in the Decentralized Identifiers (DIDs) Technology Market Offer the Most Profit Potential?
The decentralized identifiers (dids) technologymarket covered in this report is segmented -

1) By Type: Biometric, Non-Biometric
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
3) By Application: Banking Financial Services And Insurance (BFSI), Government, Healare And Life Sciences, Telecom And IT, Retail And E-Commerce, Transport And Logistics, Media And Entertainment, Other Applications

Subsegments:
1) By Biometric: Fingerprint-Based Dids, Face Recognition-Based Dids, Iris Scan-Based Dids, Voice Recognition-Based Dids, Other Biometric Methods (Palm Print, Dna-Based Dids)
2) By Non-Biometric: Password Or Pin-Based Dids, Public Key Infrastructure (Pki)-Based Dids, Qr Code-Based Dids, Blockchain-Based Dids, Smartcard Or Token-Based Dids

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=16394&type=smp

Which Firms Dominate the Decentralized Identifiers (DIDs) Technology Market by Market Share and Revenue in 2025?
Major companies operating in the decentralized identifiers (DIDs) technology market are Microsoft Corporation, Plc, International Business Machines Corporation (IBM), Wipro Limited, Avast Software s.r.o., Ping Identity Corporation, ConsenSys AG, R3, Ontology Foundation Ltd., Hyperledger Foundation, EMURGO, Dock Labs AG, World Wide Web Consortium (W3C), SecureKey Technologies, Civic Technologies Inc., Identity.com Technologies Inc., Evernym Inc., Validated ID S.L., BiiLabs Co. Ltd., Verifiable Inc., Factom Inc., Metadium Technologies Inc., Extrimian, SelfKey Foundation, LifeID Inc., Datarella, Trinsic Inc., Sovrin Foundation, Civic Ledger Pty Ltd

Which Regions Offer the Highest Growth Potential in the Decentralized Identifiers (DIDs) Technology Market?
North America was the largest region in the decentralized identifiers (DIDs) technology market in 2024. The regions covered in the decentralized identifiers (DIDs) technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16394

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Speak With Our Expert:
Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.