Chicago, May 02, 2024 (GLOBE NEWSWIRE) -- The global Self-Sovereign Identity (SSI) Market size is projected to grow from USD 1.8 billion in 2024 to USD 47.1 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 90.5% during the forecast period, according to a new report by MarketsandMarkets™ Browse in-depth TOC on "Self-Sovereign Identity (SSI) Market" 395 - Tables 51 - Figures 295 - Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=73711961 Self-Sovereign Identity (SSI) Market Dynamics: Drivers: Escalating concerns over identity theft and frauds SME-driven initiatives to fuel SSI market growth Increasing SSI adoption in healthcare sector Restraints: Regulatory ambiguity to cloud SSI adoption User education and awareness Opportunities: Emergence of self-sovereign identity in biometrics Integration with advanced technologies Government initiatives to propel widespread SSI adoption. List of Key Players in Self-Sovereign Identity (SSI) Market: Microsoft (US) Ping Identity (US) IDEX Biometrics (Norway) NEC (Japan) Imageware (US) Dock (Switzerland) Metadium  (Cayman Islands) Blockchain Helix (Germany) Validated ID (Spain) Wipro (India) Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=73711961 The convergence of digital transformation and the rising interest in decentralized technologies is propelling the growth of SSI solutions. As industries rapidly adopt digital services, the demand for robust identity solutions to ensure secure interactions and data protection intensifies. Simultaneously, the shift towards blockchain and decentralized systems underscores the need for SSI platforms, offering enhanced security and user autonomy over personal data. This alignment signifies a pivotal evolution towards more resilient, transparent, and user-centric identity management paradigms. Trend: Decentralized Identifiers (DIDs) Decentralized Identifiers (DIDs) are instrumental in evolving SSI and reshaping digital identity frameworks. Unlike conventional usernames, DIDs operate within a decentralized structure, granting users unprecedented control over their digital identities. This empowerment enables individuals to independently manage the issuance, control, and revocation processes, reducing reliance on centralized authorities. Moreover, DIDs facilitate an open, interoperable ecosystem strengthened by cryptographic keys that enhance security and integrity, guarding against unauthorized access and data manipulation. Trend: Zero Knowledge Proofs (ZKPs) An emerging trend in SSI is the integration of zero-knowledge proofs (ZKPs) to bolster user control over credentials. ZKPs enable selective disclosure of information, aligning with decentralization and interoperability in SSI frameworks. Unlike centralized ID systems, ZKPs ...