Consumer Identity and Access Management Market Projected to Reach US$ 46,546.1 Mn by 2033

According to estimates, the consumer identity and access management market will generate $8,771.3 million in sales in 2022 and $10,078.2 million in 2023. With a projected CAGR of 16.5% from 2023 to 2033, the consumer identity and access management market is expected to reach US$ 46,546.1 Mn by 2033.

Systems for managing consumer IDs and providing authentication services are known as consumer identity and access management (IAM) systems. These technologies enable companies to deliver a more secure, streamlined, and enhanced customer experience while storing comprehensive customer data. Moreover, they are frequently used for customer profile database maintenance, customer registration process security, and authentication when clients and other users access a business's services.

Get a sample copy of the Report @ https://www.persistencemarketresearch.com/samples/20446

The consumer identity and access management (CIAM) market refers to the industry that produces and sells solutions that enable organizations to securely manage the identities and access rights of their customers. CIAM solutions typically include features such as authentication, authorization, single sign-on, and identity verification.

The global CIAM market is expected to experience significant growth in the coming years due to the increasing demand for personalized customer experiences and the growing importance of data privacy and security. The market is also being driven by the rise of digital transformation and the growing adoption of cloud-based technologies.

The Asia-Pacific region is expected to be the largest market for CIAM solutions, with countries such as China and India leading the way in adoption. North America and Europe are also significant markets, driven by the presence of established technology companies and the high demand for advanced identity and access management solutions.

The CIAM market faces challenges such as the need for compliance with data protection regulations and the high cost of implementation and maintenance. However, the market also offers opportunities for innovation and collaboration between vendors, service providers, and other stakeholders. For example, AI and machine learning technologies are being integrated into CIAM solutions to enable more advanced user authentication and fraud detection. Additionally, the market is experiencing a shift towards more decentralized and user-centric identity models, which can offer greater control and privacy for consumers.

Request Customization @ https://www.persistencemarketresearch.com/request-customization/20446

Competitive Landscape
Rising trend towards e-commerce, increasing risks of cyber theft, fraud, identity theft along with the growing preference for personalized consumer experiences, increased adoption of IoT and big data analytics are the major factors accelerating the growth of the consumer Identity and access management market.

In December 2022, Daon and ForgeRock reinforced their partnership allowing ForgeRock to use Daon's IdentityX platform for the CIAM solutions of ForgeRock. This partnership allows ForgeRock to include multi-factor authentication for the consumers.

In July 2022, Thales Group acquired OneWelcome, a CIAM company for EUR 100 Mn (US$ 106 Mn). The acquisition allows Thales to improve its identity services and improve its overall portfolio for cybersecurity solutions.

Key Players:
IBM Corporation
Microsoft Corporation
SAP SE (Gigya Inc.)
Ping Identity
Okta Inc.
Forgerock Inc.
Janrain Inc.
Loginradius Inc.

Buy Report Now @ https://www.persistencemarketresearch.com/checkout/20446

Contact Us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
Website - https://www.persistencemarketresearch.com

Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.

This release was published on openPR.