DUBLIN–(BUSINESS WIRE)–The “Consumer IAM Market by Component (Solutions and services), Solution (Identity Governance, Identity Authentication and Verification), Service, Authentication Type, Deployment Mode, Organization Size, Industry Vertical, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The Consumer Identity and Access Management Market is Projected to Grow from USD 7.6 Billion in 2020 to USD 15.3 Billion by 2025, at a CAGR of 15.1%
Increasing venture capital funding and growing investments in consumer identity and access management technology to drive the overall growth of the consumer identity and access management market.
The increasing venture capital funding and growing investments in consumer identity and access management technology to drive market growth.
By component, services segment to grow at a higher CAGR during the forecast period
The services include the support offered by security vendors to assist their customers in using and maintaining consumer identity and access management efficiently. Vendors offer different services, such as integration and deployment, consulting, and support and maintenance. The services segment has witnessed tremendous growth in recent years. Therefore, services segment registers the highest growth rate during the forecast period.
By solution, Integration and Deployment segment to register the highest growth rate during the forecast period
Identity verification and authorization segment is expected to hold the highest growth rate during the forecast period, as it is used to authorize the uniqueness and validity of an individual’s identity to ease the provision of entitlement or service, and to rely upon different factors, such as biometric information, biographic information, identity documents, and knowledge of personally relevant information or events. The heavy deployment of web and mobile applications is creating complexities in consumer authentication. Hence, there is significant adoption of identity authentication solutions across the globe.
Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global consumer identity and access management market during the forecast period. APAC constitutes major economies, such as China, Japan, Australia, and India, which are expected to register high growth rates in the consumer identity and access management market.
Industries such as financial institutions, public sector, healthcare, retail, education, telecommunication, manufacturing, energy and utilities, transportation and logistics, hospitality, and media and entertainment are expected to adopt consumer identity and access management solutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies, political transformation, as well as from the growing digitalization, which is expected to have a significant impact on the business community.
Major vendors offering Consumer identity and access management solutions include IBM (US), Microsoft (US), Salesforce (US), SAP (Germany), Broadcom (US), Okta (US), Akamai Technologies (Canada), Ping Identity (US), ForgeRock (US), LoginRadius (US).
- Rise in Security Breaches and Cyberattacks
- Demand to Deliver a Frictionless Customer Experience
- Identity Theft and Fraud
- Lack of Identity Standards and Budgetary Constraints in Deploying Ciam Solutions
- Cultural Shift from Traditional IAM to CIAM
- Proliferation of Cloud-Based Ciam Solutions and Services
- Scarcity of Skilled Cybersecurity Professionals Among Enterprises
- Difficulties in Addressing the Complexity of Advanced Threats
COVID-19-Driven Market Dynamics
- Drivers and Opportunities
- Restraints and Challenges
- Cumulative Growth Analysis
Value Chain Analysis
Ecosystem: Consumer Identity and Access Management
Average Selling Price/Pricing Model of Consumer Identity and Access Management
- Artificial Intelligence
- General Data Protection Regulation (Gdpr)
- Payment Card Industry-Data Security Standard (PCI-Dss)
- Health Insurance Portability and Accountability Act (HIPAA)
- Federal Information Security Management Act (FISMA)
- Sarbanes-Oxley Act (SOX)
- Use Case: Loginradius Helped Juhll Online Marketing and Banks.Com to Optimize Customer Engagement while Securing Sensitive Data
- Use Case: Auth0 Helped in Improving Your App Experience and User Engagement
- Use Case: Akamai Helped a Major International Airline by Deploying a Ciam Solution for Expanding Its Flyer Program
- Akamai Technologies
- Ping Identity
- SecureAuth Corporation
- Simeio Solutions LLC
- Strata Identity
For more information about this report visit https://www.researchandmarkets.com/r/2untm3
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