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.
This product will be delivered within 3-5 business days.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Self-Sovereign Identity Market Characteristics3. Self-Sovereign Identity Market Trends And Strategies4. Self-Sovereign Identity Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market32. Global Self-Sovereign Identity Market Competitive Benchmarking And Dashboard33. Key Mergers And Acquisitions In The Self-Sovereign Identity Market34. Recent Developments In The Self-Sovereign Identity Market
5. Global Self-Sovereign Identity Growth Analysis And Strategic Analysis Framework
6. Self-Sovereign Identity Market Segmentation
7. Self-Sovereign Identity Market Regional And Country Analysis
8. Asia-Pacific Self-Sovereign Identity Market
9. China Self-Sovereign Identity Market
10. India Self-Sovereign Identity Market
11. Japan Self-Sovereign Identity Market
12. Australia Self-Sovereign Identity Market
13. Indonesia Self-Sovereign Identity Market
14. South Korea Self-Sovereign Identity Market
15. Western Europe Self-Sovereign Identity Market
16. UK Self-Sovereign Identity Market
17. Germany Self-Sovereign Identity Market
18. France Self-Sovereign Identity Market
19. Italy Self-Sovereign Identity Market
20. Spain Self-Sovereign Identity Market
21. Eastern Europe Self-Sovereign Identity Market
22. Russia Self-Sovereign Identity Market
23. North America Self-Sovereign Identity Market
24. USA Self-Sovereign Identity Market
25. Canada Self-Sovereign Identity Market
26. South America Self-Sovereign Identity Market
27. Brazil Self-Sovereign Identity Market
28. Middle East Self-Sovereign Identity Market
29. Africa Self-Sovereign Identity Market
30. Self-Sovereign Identity Market Competitive Landscape And Company Profiles
31. Self-Sovereign Identity Market Other Major And Innovative Companies
35. Self-Sovereign Identity Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Self-Sovereign Identity Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on self-sovereign identity market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for self-sovereign identity ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The self-sovereign identity market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Offering: Solution; Services2) By Identity Type: Biometrics; Non-Biometrics
3) By Technology: Blockchain; Decentralized Identity; Public Key Infrastructure; Biometrics
4) By Application: Digital Identity Verification; Identity Management; Access Control; Data Sharing
5) By Vertical: Banking, Financial Services and Insurance (BFSI); Government; Media And Entertainment; Travel And Hospitality; Healthcare And Life Sciences; Information Technology (IT) And Telecommunications; Other Verticals
Subsegments:
1) By Solution: Identity Wallets; Identity Verification; Credential Issuance And Management; Decentralized Identifiers (DIDs); Authentication Systems; Blockchain-Based Platforms2) By Services: Consulting; Integration And Implementation; Support And Maintenance; Managed Services; Training And Education
Key Companies Profiled: Microsoft Corporation; Accenture plc; International Business Machines Corporation; NEC Corporation; Wipro Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- 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