Decentralized Identity Market Size, by Region, 2018-2030 (USD Million)
According to Polaris market research, the global decentralized identity market was valued at US $181.8 million in 2021 and is forecasted to reach US $46.5 billion by 2030 growing at a compounded annual growth rate (CAGR) of 89.1%.
Looking closer at the Web3 sector, CryptoRank found that since January 2022, projects in the “Digital Identity” field have raised over US $770 million, including almost US $40 million since January 2024. The market for Web3 identity is huge and complex, with many different projects addressing various use cases beyond just decentralized identity making it hard to track exactly how much money is being invested in the space. However, it is clear that the sector has captivated top-tier investors, including PayPal Ventures, Sequoia Capital, Andreessen Horowitz (A16z), Pantera Capital, Binance Ventures, and Coinbase Ventures, underscoring the robust investor confidence and the strategic importance placed on digital identity solutions.
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