Self-Sovereign Identity Global Market Report 2025

The self-sovereign identity market size has grown exponentially in recent years. It will grow from $2.07 billion in 2024 to $3.78 billion in 2025 at a compound annual growth rate (CAGR) of 82%. Growth during the historic period was driven by increased blockchain adoption, a rise in data breaches, escalating digital identity fraud, regulatory emphasis on privacy, and growing demand for identity and access management.

The self-sovereign identity market size is expected to see exponential growth in the next few years. It will grow to $41.23 billion in 2029 at a compound annual growth rate (CAGR) of 81.8%. Growth in the forecast period is expected to be driven by rising adoption of Web3 technologies, increased demand for decentralized identity, implementation of zero trust security models, enhanced interoperability across platforms, and greater user control over personal data. Key trends anticipated during this time include the integration of biometrics, expansion of digital wallets for identity management, growth in verifiable credentials, development of cross-border identity solutions, and incorporation of identity systems with IoT devices.

The increasing number of data breaches and security threats is expected to drive the growth of the self-sovereign identity market in the coming years. Data breaches and security threats involve incidents where unauthorized parties access sensitive information, often resulting in data exposure, theft, or loss. This rise is mainly due to the growing sophistication of cyberattacks, with attackers using advanced methods such as AI-driven exploits, zero-day vulnerabilities, and complex malware to bypass traditional security defenses. Self-sovereign identity (SSI) improves data security by allowing individuals to control their personal information, thereby reducing risks associated with centralized data storage systems. For example, the 2023 Data Breach Report by the Identity Theft Resource Center, a US-based non-profit, noted that during the first three quarters of 2023, data breaches reached 2,116, exceeding the previous record of 1,862 breaches set in 2021. Hence, the rise in data breaches and security threats is propelling the growth of the self-sovereign identity market.

Key players in the self-sovereign identity market are concentrating on creating innovative solutions such as decentralized identity platforms that give users enhanced control over their personal data. Decentralized identity platforms are digital frameworks that let individuals create, manage, and control their identity information without depending on a central authority. These platforms support SSI by enabling secure ownership and sharing of credentials, ensuring privacy, data ownership, and autonomy in digital interactions. For instance, in June 2023, Truvity, a Netherlands-based software firm, introduced the Truvity Platform, an SSI platform that allows individuals and organizations to securely manage and share verifiable credentials, providing users full control over their digital identities without central authority reliance. The platform facilitates instant trust and verification, enabling smooth data exchange while maintaining privacy, security, and compliance with evolving digital identity regulations like eIDAS 2.0.

In December 2024, Dentity Inc., a US-based Web3 identity verification and credentialing platform, acquired Trinsic’s Decentralized ID Platform for an undisclosed sum. This acquisition aims to speed up the adoption of decentralized digital identities by integrating Trinsic’s sophisticated identity infrastructure into Dentity’s platform. This integration allows users greater control over their personal data and enhances digital trust and security within the Web3 ecosystem. Trinsic, Inc. is a US-based IT services company specializing in self-sovereign identity solutions.

Major players in the self-sovereign identity market are Microsoft Corporation, Accenture plc, International Business Machines Corporation, NEC Corporation, Wipro Limited, Bloom Protocol Inc., Persistent Systems Limited, Dock Global Inc., Imageware, Validated ID S.L., ConsenSys Software Inc., Blockchain HELIX AG, Metadium Technology Inc., SelfKey Foundation, BOTLabs GmbH, Danube Tech GmbH, Civic Technologies Inc., IDEX Biometrics ASA, Jolocom GmbH, The Sovrin Foundation.

North America was the largest region in the self-sovereign identity market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in self-sovereign identity report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the self-sovereign identity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Self-sovereign identity enables individuals to own and manage their personal information independently, without relying on corporations or governments. It allows users to control who accesses their data and for how long, enhancing privacy and minimizing the risk of identity theft. This approach places full control of identity in the hands of the individual.

The main components of self-sovereign identity include various solutions and services. Digital identity solutions provide secure, private, and user-managed platforms for identity verification, leveraging technologies such as digital wallets, decentralized identifiers (DIDs), and verifiable credentials. Identity types encompass both biometric and non-biometric methods. Key technologies supporting self-sovereign identity include blockchain, decentralized identity frameworks, public key infrastructure, and biometrics. These solutions find applications in areas like digital identity verification, identity management, access control, and data sharing. They are utilized across numerous industries, including banking, financial services, and insurance (BFSI), government, media and entertainment, travel and hospitality, healthcare and life sciences, information technology (IT) and telecommunications, among others.

The self-sovereign identity market research report is one of a series of new reports that provides self-sovereign identity market statistics, including the self-sovereign identity industry global market size, regional shares, competitors with the self-sovereign identity market share, detailed self-sovereign identity market segments, market trends, and opportunities, and any further data you may need to thrive in the self-sovereign identity industry. This self-sovereign identity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The self-sovereign identity market consists of revenues earned by entities by providing services such as compliance and regulatory services, identity verification services, identity proofing services, and interoperability services. The market value includes the value of related goods sold by the service provider or included within the service offering. The self-sovereign identity market also includes sales of verifiable credential systems, biometric authentication tools, digital ID wallets, secure communication tools, and consent management systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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