Digital Identity Verification Blockchain Solutions Market Size Worth USD 26.74 Billion by 2034 | CAGR: 19.2%

The global digital identity verification blockchain solutions market size is expected to reach USD 26.74 billion by 2034, according to a new study by Polaris Market Research. The report “Digital Identity Verification Blockchain Solutions Market Size, Share, Trends, Industry Analysis Report: By Technology, Application (Identity Authentication, Fraud Prevention, Data Privacy Management, and Others), End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Digital identity verification blockchain solutions utilize decentralized ledger technology (DLT) to provide immutable, secure, and tamper-resistant digital identities, reducing fraud risks and enhancing trust among users. Growing concerns over identity fraud, cybersecurity threats, and regulatory compliance are driving companies and governments to implement blockchain technology for digital identity management. The increasing adoption of digital transactions, the rise of online services, and stringent regulatory requirements across industries, including banking, finance, healthcare, and government sectors, are further contributing to the digital identity verification blockchain solutions market expansion.

Governments and regulatory bodies worldwide are enforcing stringent compliance, such as Know Your Customer (KYC) and Anti-Money Laundering (AML), to combat financial crimes and terrorist financing. Blockchain-based identity verification streamlines these compliances by automating identity checks, reducing operational costs, and improving the accuracy of customer verification processes. This is fueling the adoption of digital identity verification blockchain solutions, especially in banks.

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The growing incidence of identity theft and cyber fraud is fueling the digital identity verification blockchain solutions market revenue. Billions of personal records are exposed to data breaches every year, making individuals and organizations vulnerable to financial and reputational losses, thereby increasing the need for blockchain-based identity verification solutions. These solutions provide enhanced security by encrypting identity data and storing it in a distributed ledger, making it difficult for hackers to alter or manipulate information.

Digital Identity Verification Blockchain Solutions Market Report Highlights

• In terms of application, the identity authentication segment held the largest digital identity verification blockchain solutions market share in 2024 due to the growing need for secure and seamless user verification across industries.
• Based on end user, the BFSI segment dominated the market in 2024 due to the high demand for secure identity verification and fraud prevention.
• In the global market, North America accounted for a major digital identity verification blockchain solutions market share in 2024 due to advanced digital infrastructure, high adoption of blockchain technology, and stringent regulatory frameworks for identity verification.
• The market in Asia Pacific is projected to grow at a rapid pace during the forecast period owing to rapid digitalization and rising government investments in blockchain technology.
• Some of the global key market players are Antier Solutions, Oracle, IBM, VMware, Cloudsigma, SoluLab, Blockchain Helix, Civic Technologies, Evernym, and ValidatedID.

Polaris Market Research has segmented the digital identity verification blockchain solutions market report on the basis of technology, application, end user, and region:

By Technology Outlook (Revenue, USD Billion, 2020–2034)

• Blockchain Technology
  • Public Blockchain
  • Private Blockchain
  • Consortium Blockchain
• Verification Technology
  • Biometric Verification
  • Document Verification
  • Knowledge-based Verification

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Identity Authentication
• Fraud Prevention
• Data Privacy Management
• Others

By End User Outlook (Revenue, USD Billion, 2020–2034)

• BFSI
• Healthcare
• Government
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

Digital Identity Verification Blockchain Solutions Market Report Scope