Consumer Identity and Access Management Market - growing demand for cloud-based applications across enterprises to drive growth

The global consumer identity and access management market is anticipated to reach value of US$ 32.9 Bn by 2030. The consumer identity and access management market is projected to expand at a CAGR of ~12% from 2020 to 2030, in terms of revenue. The growth of the consumer identity and access management market is due to increasing need to authenticate identities of customers across digital and non-digital channels, and growing demand for cloud-based applications across enterprises. Over the forecast period, North America is anticipated to emerge as the leading consumer identity and access management market, followed by Europe and Asia Pacific.

Complex Business Infrastructure and Advanced Security Threats

Business infrastructure has become complex and difficult to maintain with new technologies emerging regularly. Various applications are running at the same time in an enterprise, carrying important information with them. Moreover, new policies, such as Bring Your Own ID (BYOID), are being adopted by organizations in order to provide more freedom to employees and customers. This augments the growth of consumer identity and access management worldwide. Additionally, new devices and applications are entering the enterprise environment, increasing the threat of security breach. Security infrastructure must be regularly updated to protect the information from external breach. This is one of the major factors that drives the consumer identity and access management market.

Furthermore, security breaches are becoming more sophisticated as intruders are well-funded to develop advanced evasion techniques to enter the enterprise network unnoticed. Identity access management providers can help enterprises in threat detection and mitigation using high levels of expertise and special tools, subsequently driving the consumer identity and access management market.

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Rising Need for Security Mechanisms to Protect Enterprise Data from Advanced Threats

Most organizations are now storing, computing, and networking through cloud-based infrastructure. This migration is driven by cost-efficiency, flexibility, and agility associated with cloud infrastructure. Cloud-based technology demands sharing of resources in the network, while enterprise security is based on isolation of resources at each level. This promotes the growth of the consumer identity and access management market. Threat of network attacks against application infrastructure has increased with the adoption of cloud technology in enterprises, for attaining centralized security and effective management of critical data of customers. Thus, increasing cloud deployment demands a security infrastructure model compatible to cloud technology across organizations, which, in turn, is set to fuel the growth of the consumer identity and access management market.

Consumer Identity and Access Management Market Segmentation

The global consumer identity and access management market has been segmented in terms of component, deployment, application, enterprise size, industry, and region. Based on component, the market has been classified into software and services. Based on application, the authentication & access management segment dominated the global consumer identity and access management market in 2019. Based on deployment, the consumer identity and access management market has been bifurcated into Software-as-a-Service (SaaS) and on-premise. In terms of industry, the BFSI (Banking, Financial Services and Insurance) segment dominated the global consumer identity and access management market in 2019.

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Consumer Identity and Access Management Market: Regional Outlook

In terms of region, the global consumer identity and access management market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the consumer identity and access management market during the forecast period. The U.S. is estimated to hold a notable share of the consumer identity and access management market in North America, and the market in the country is projected to expand at a CAGR of 15.1% during the forecast period, as the maximum number of enterprises within North America are based in the U.S.

Asia Pacific held a substantial share of the global consumer identity and access management market in 2019 with China, India, and Japan being major markets in the region. The consumer identity and access management market in Europe, Middle East & Africa, and South America is projected to expand moderately during the forecast period.

The report provides in-depth segment analysis of the global consumer identity and access management market, thereby providing valuable insights at macro as well as micro levels. The analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the consumer identity and access management market.

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Consumer Identity and Access Management Market: Competition Dynamics

The research study includes profiles of leading companies operating in the global consumer identity and access management market. Key players profiled in the report include Acuant, Inc., Akamai Technologies, Amazon Web Services Inc., Auth0 Inc., CA Technologies, ForgeRock Inc., Gigya, Inc., GlobalSign, IBM Corporation, LoginRadius Inc., Microsoft Corporation, NetIQ Corporation, Okta Inc., Onegini, Salesforce.com, SAP SE, and Ubisecure, Inc.

Global Consumer Identity and Access Management Market: Segmentation

Consumer Identity and Access Management Market, by Component

Software
Services
Managed Services
Professional Services
Implementation
Consulting
Support Services

Consumer Identity and Access Management Market, by Deployment

Software-as-a-Service (SaaS)
On-premise

Consumer Identity and Access Management Market, by Application

Directory Services
Authentication & Access Management
Identity Analytics
Governance and Compliance Management
Others (User Provisioning and Password Management)

Consumer Identity and Access Management Market, by Enterprise Size

Small & Mid-size Enterprises
Large Enterprises
Consumer Identity and Access Management Market, by Industry

BFSI
Government
Retail
IT & Telecommunication
Media & Entertainment
Travel & Hospitality
Healthcare
Education
Energy & Utilities
Transportation & Logistics
Others (Manufacturing and Real Estate)

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