The Consumer Identity and Access Management by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Consumer Identity and Access Management, The consumer identity and access management market size has grown rapidly in recent years. It will grow from $31.66 billion in 2023 to $37.04 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to personalization and user experience, mobile app proliferation, e-commerce growth, user data security concerns, regulatory compliance.
The consumer identity and access management market size is expected to see rapid growth in the next few years. It will grow to $71.59 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to consent management, identity verification services, expansion of digital services, user-centric identity management, globalization of businesses, gdpr and privacy regulations evolution.. Major trends in the forecast period include multi-factor authentication (mfa) adoption, consent management and privacy compliance, progressive profiling for user data collection, identity verification and anti-fraud measures, cloud-based ciam solutions, globalization and localization features..
The increase in usage of internet of things (IoT) devices is expected to propel the growth of consumer identity and access management market in the forecast period. The internet of things (IoT) is a system of interrelated, internet-connected objects which can collect and transfer data over a wireless network without human intervention. IoT poses new security and privacy risks, possibly jeopardizing customer trust and the value of these new technologies. As a result, IoT organizations are adopting CIAM since it plays a critical role in ensuring user identity security. For instance, according to the TechJury Report, 35 billion IoT devices are projected to be installed across the world by the end of 2021. Therefore, the increase in usage of internet of things (IoT) devices is driving the growth of the consumer identity and access management market.
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The consumer identity and access management market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organisation Size: Large Enterprises, SMEs
4) By Vertical: Banking, Financial Services, And Insurance (BFSI), Healthcare, IT And Telecom, Consumer Goods And Retail, Energy And Utility, Public Sector, Other Verticals
Top Major Players
International Business Machines Corporation
Microsoft Corporation
Okta Inc.
Ping Identity Corporation
ForgeRock Inc.
Major companies operating in the consumer identity and access management market are developing decentralized identity management solutions to meet larger customer bases, more sales, and increase revenue. A decentralized identity management solution is a system that allows individuals to have control over their personal information and digital identity, securely stored and managed on a decentralized blockchain network, reducing the reliance on centralized authorities for identity verification. For instance, in March 2023, Ping Identity Corporation, a US-based software company, launched PingOne Neo, a decentralized identity management solution that adheres to multiple standards. The unique feature of PingOne Neo lies in its ability to enhance data security, privacy, and control for individuals while simultaneously reducing the resource and compliance challenges faced by enterprises. PingOne Neo achieves this by streamlining the process of obtaining verified information from trusted sources through verifiable credentials, irrespective of whether these sources are internal or external to the organization. Moreover, Neo significantly minimizes the risk of identity theft for individuals and enhances the security posture of organizations by swiftly establishing trust with individuals based on their digital credentials.
The consumer identity and access management market report table of contents includes:
1. Executive Summary
2. Consumer Identity and Access Management Market Characteristics
3. Consumer Identity and Access Management Market Trends And Strategies
4. Consumer Identity and Access Management Market – Macro Economic Scenario
5. Global Consumer Identity and Access Management Market Size and Growth
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31. Global Consumer Identity and Access Management Market Competitive Benchmarking
32. Global Consumer Identity and Access Management Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Consumer Identity and Access Management Market
34. Consumer Identity and Access Management Market Future Outlook and Potential Analysis
35. Appendix
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