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Consumer Identity and Access Management Market by 2022 - Onegini, TransUnion, Ping Identity Corporation, Gigya Centrify Corporation, Okta, Experian PLC, Janrain, Mitek Systems, Traxion, LexisNexis Risk Solutions, MorphoTrust

11-14-2019 06:07 AM CET | IT, New Media & Software

Press release from: Premium Market Insights

Consumer Identity and Access Management Market - Premium Market Insights

Consumer Identity and Access Management Market - Premium Market Insights

Global consumer identity and access management market in 2015 is estimated at $7,968 million growing at 16.9% CAGR to reach $23,589 million in 2022. Identity and access management (IAM) solutions help organizations in the management of identities of employees, consumers, partners, contractors, and others to ensure secure and seamless services. Consumer IAM industry players help in implementing solutions that authenticate identities of customers across digital and non-digital channels. Consumer identity and access management solutions adopted by businesses assist in securing sensitive data of customers and protecting them from cyber-threats and other financial frauds.

Moreover, increase in incidents of cyber-attacks and ongoing trend of using IoT across various sectors including public, manufacturing, education, defense, media & entertainment, and others are the prominent driving factors of the market.

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The global consumer IAM industry is expected to grow at a prominent rate during the forecast period. The global consumer identity and access management industry in 2015 is comprised of advanced authentication which was $3,770 million, identity proofing services which was $2,473 million, and other which was $1,725 million. The banking, financial service, and insurance (BFSI) sector is one of the prominent end users in the market, owing to the trend of heavy investment of financial institutions in the IT infrastructure to secure customer data and provide access to financial products and services.

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The healthcare sector utilizes consumer IAM security services for securing sensitive data of patients, and providing easy access to services of medical institutes. In addition, the consumer IAM solutions used in energy and utility sector helps to provide access to real-time data, monitor customer usage patterns, and manage demand-supply gap

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