Consumer IAM market size was valued at $7,793.5 million in 2020, and is projected to reach $37,239.29 million by 2030, growing at a CAGR of 17.2% from 2021 to 2030. The consumer identity and access management (IAM) market offers authentication services and manages customer identities. Consumer IAM solutions save customer profile data and allow businesses to provide a more secure, unified, and enhanced customer experience. Furthermore, it is applicable for securing the customer registration process, maintaining customer profile databases, and authentication when customers and others access a company’s services. Furthermore, the increase in cyber-attack incidents has a significant impact on organisations’ adoption of consumer IAM. As a result, organisations have implemented consumer IAM solutions to provide a secure platform for accessing services and conducting online transactions. A strong IAM strategy reduces cyber risk by limiting unauthorised access to sensitive data.
The advanced authentication segment dominated the overall consumer identity and access management industry in 2020, and this trend is expected to continue throughout the forecast period. The advanced authentication solution for IAM gives users greater control and privacy over their login and password management. It assists businesses in maintaining higher standards of business regulations by providing a safer way for customers to access services. This establishes a strong security layer and aids in the control of unauthorised access to a database and digital devices; such benefits are expected to provide lucrative consumer identity and access management market growth opportunities in this segment.
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Global Consumer Identity and Access Management (IAM) Market: Top Key Players
LexisNexis Risk Solutions Inc.
Traxion Inc.
ID Analytics LLP
Centrify Corporation
Ping Identity Corporation
MorphoTrust USA
Onegini
GB Group Plc
Okta, Inc.
TransUnion
Equifax Inc.
Janrain, Inc.
Mitek Systems Inc.
Experian PLC
Gigya, Inc.
Aware Inc.
Global Consumer Identity and Access Management (IAM) Market: By Types
Solution
Service
Global Consumer Identity and Access Management (IAM) Market: By Applications
Traditional Industries
New Technology Industry
Service Industry
Geographically, the detailed analysis of consumption, revenue, and market share and growth rate of the following regions:
United States, Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden, Poland, Belgium, China, Japan, South Korea, Australia, India, Taiwan, Indonesia, Thailand, Philippines, Malaysia, Brazil, Mexico, Argentina, Columbia, Chile, Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of the World.
The global COVID-19 pandemic has had a significant impact on businesses all over the world. Because of the lockdown imposed by various governments, it has had a positive impact on the adoption of consumer identity and access management. Following the implementation of COVID-19, organisations across industries are focusing on advanced technology such as artificial intelligence (AI), machine learning (ML), internet of things (IOT), and cloud computing to perform contactless operations. This factor is expected to drive demand for mobile-based consumer identity and access management solutions, thereby driving the global adoption of the consumer identity and access management market. Furthermore, the global consumer identity and access management market is expanding due to increased use of security-related technologies in industries such as BFSI, IT & telecom, healthcare, and government.
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