Consumer IAM Market is valued at USD 7561.8 Million in 2020 and is expected to reach USD 22971.3 Million by 2027 with a CAGR of 14.9% over the forecast period.
Global Consumer IAM (CIAM) Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2027- Factors like increasing demand of IoT and smart devices, rising cases of data theft, growing investments in customer identity and increasing advancements in access management technology are driving the growth of the market.
Consumer identity and access management (CIAM) is also known as B2C IAM, it is still new to the market but rapidly becoming essential for any customer-focused business. It sets the principle for an enterprise to deliver great customer experiences while making the ideal balance between convenience and security. CIAM technology was developed to suit a need for more security, control & visibility of data and information related to customer identities. Traditional IAM provides great system security. CIAM is able to securely capture and manage customer identity and profile data, also it controls customers’ access to applications, systems, and services. It is the solution that manages customer interactions. Consumer identity and access management platforms deliver a seamless, secure experience that is consistent across device. CIAM also permits various business organizations or institutes to identify the customers and their engagement. Customer access not only allocates the authorization rights for online services but also it includes mobile, IoT, partner applications, and many other channels. Consumer identity and access management allow fast, convenient, unified, and secure access across digital channels.
The outbreak of Covid 19 has shown a positive impact on the growth of consumer identity and access management market as due to the lockdown, the need for online business has increased tremendously. Consumers expect to access the most necessary services through the internet and various web applications to adopt advanced technologies that can prevent cybercriminals from accessing sensitive data. Hence, the demand for consumer identity and access management (CIAM) has increased.
The regions covered in this global consumer IAM market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of global consumer IAM is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc. positively on global CIAM market.
Major Key players of global consumer IAM market are
The global consumer identity and access management market is segmented on the basic services, solutions, deployment, and regional & country level. On the basis of services, global CIAM market is classified into integration and deployment, support and maintenance and consulting. On the basis of solutions, the global CIAM market is classified into identity verification and authentication, identity governance, access and management authorization, and behavioral analytics. On the basis of deployment, the global CIAM market is classified into cloud and on-premises.
Factors like increasing demand for IoT and smart devices, rising cases of data theft, growing investments in customer identity, and advancement in access management technology are some of the major factors driving the growth of the CIAM market. Increasing demand to deliver a frictionless customer experience is also supplementing the growth of the market. As customers expect frictionless experience across all their devices so that CIAM creates a secure scalable repository that is specifically designed to store users’ information. In addition, increasing demand for IoT and smart devices also propelling the growth of the market. As IoT begins to raise a host customer privacy and security concern, thus it increases the demand of IoT and smart devices, which is boosting the growth of the market. For example; in April 2018, Forgerock commissioned Forrester Consulting to evaluate how organizations deploy AI and IoT solutions for focusing on the customer privacy and security concerns they raise.
Furthermore, rising cases of data theft are also fostering the growth of the market. As CIAM system imparts essential security features that protect both data and account access. For example, with risk-based authentication, each customer’s usage and login patterns are monitored, making it easy to spot unusual (and therefore potentially fraudulent) activity. However, lack of government standardization may hamper the growth of the market. In spite of that, advancements in the field of CIAM may offer more opportunities for the further growth of the market.
The global consumer IAM market is segmented into North America, Europe, Asia- Pacific Latin America, and Middle East & Africa. North America is expected to dominate the market within the forecast period attributed to the increasing partnership between organizations and the early adoption of new technology in this region. A partnership between organizations reduces the data breach risks by highlighting identity data and keeping it protected. For example, on April 1st, 2020 IDP Cyber and Ubisecure announced a new partnership to provide clients with a robust customer identity management solution combined with IDP Cyber’s other identity offerings.
Asia Pacific is also expected to witness the fastest growth in the global consumer IAM market due to the increasing investments by organizations to develop efficient database management systems and rising demand for cloud-based applications in this region.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 7561.8 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 22971.3 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||IBM Microsoft, Salesforce, SAP, Broadcom, Okta, Akamai Technologies, Ping Identity, Forgerock, Loginradius and others|
|Segments Covered||By Services, By Solutions, By Deployment|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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