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Consumer IAM Market to 2023: Growth Drivers and Future Estimations with Dominant Key Players TransUnion, Ping Identity Corporation, Gigya

03-28-2019 06:11 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Consumer IAM Market to 2023: Growth Drivers and Future

The global consumer IAM market in 2015 is estimated at $7,968 million growing at 16.9% CAGR to reach $23,589 million in 2022. The advanced authentication solution segment dominated the global consumer identity and access management market, accounting for revenue of $3,770 million in 2015. North America is expected to be the leading contributor to the global consumer identity and access management market.

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The adoption of consumer IAM solutions has increased in recent years, owing to the growing consumer IAM trend of centralized monitoring and stringent government regulations to protect customer data. In addition, the rise in incidents of cyber threats and an increase in the adoption of IoT (Internet of Things) are expected to drive the market. However, the lack of standardization in industry regulations and concerns about cloud-based security hamper market growth. The growing popularity of mobile devices and flexible functionalities of consumer IAM solutions to tackle increased network traffic, burgeoning demand and peak usage requirements of consumers for different applications are expected to provide numerous opportunities for the growth and development of the global consumer identity and access management market.

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North America accounted for the major share of the global market in 2015 and is expected to maintain its dominance during the forecast period, owing to increase in implementation of legal regulatory and cyber laws to improve data protection by the government in the region. The Asia-Pacific region is projected to grow at a significant rate during the forecast period, owing to increase in events of cyber-attacks and growth in energy & power sectors thereby fueling the consumer identity and access management industry in the region.

Dominant Industry Players Profiled:

The key players profiled in the report are Onegin, TransUnion, Ping Identity Corporation, Gigya Inc., Centrify Corporation, Okta, Inc., Experian PLC, Janrain Inc., Mitek Systems Inc., Traxion Inc., LexisNexis Risk Solutions Inc., MorphoTrust USA, GB Group, ID Analytics, Aware Inc., and Equifax Inc.

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Market players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the market. For instance, in December 2016, Experian PLC and Touch Bank, the digital bank of OTP European Financial Group, launched FraudNet, which secures online transactions, including open fake accounts, account takeover, or fraudulent online transactions.

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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