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Consumer IAM Market Growth Factors And Opportunities From 2024 To 2033
Consumer IAM Market
The Business Research Company presents an extensive market research report on the Consumer IAM Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The consumer iam market size has grown rapidly in recent years. It will grow from $10.84 billion in 2023 to $12.69 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to rise of digital transformation, increasing cybersecurity threats, proliferation of online services, regulatory compliance requirements, consumer demand for personalization, mobile and social media adoption, increasing awareness of identity theft.
The consumer iam market size is expected to see rapid growth in the next few years. It will grow to $23.58 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to emergence of customer data platforms (cdps), adoption of advanced authentication methods, increasing emphasis on customer loyalty, expansion of subscription services, globalization of online business. Major trends in the forecast period include user-centric authentication methods, integration with customer experience platforms, cloud-based ciam services, compliance with regulatory standards, ai and machine learning in ciam, enhanced user registration and onboarding.
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Key Market Players:
Major companies operating in the consumer iam market report are International Business Machines Corp, Microsoft Corporation, Salesforce Inc., SAP AG, Broadcom Inc., Okta Inc., Akamai Technologies Inc., Ping Identity Corporation, ForgeRock Inc., LoginRadius Inc., Acuant Inc., GlobalSign.In Pte Ltd., Trusona Inc., Mitek Systems Inc., CA Technologies, WidasConcepts India Private Limited, Omada Health Inc., OneWelcome a Thales company, Ubisecure Solutions Inc., SecureAuth Corporation, WSO2 Inc., Amazon Web Services Inc., Simeio Solutions LLC, OneLogin Inc., Janrain Inc., Authlete Inc., Experian plc, LoginID Inc., FusionAuth Inc., Veridium Inc., Avatier Corporation, TrueLayer Ltd., Zoho Corporation Pvt. Ltd., Aware Inc.
Market Drivers:
The rise in security breaches and cyber-attacks is expected to propel the growth of the consumer IAM market going forward. A cyberattack is an attempt to illegally access a computer system or a computer network to cause damage. Attackers constantly target Customer (or consumer) identity for malicious activities, increasing the need to secure the system. CIAM provides data privacy protection and provide defense against fraud and abuse, including identity theft, security theft, and cyber-attacks. For instance, according to the cybersecurity threatscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in Q1 of 2021 as compared to Q1 2020, and it increased by 1.2% as compared to Q4 2020. Moreover, in June 2022, according to Forbes, a US-based business magazine, the average frequency of data breaches and cyberattacks rose by 15.1% in 2021 compared to the previous year. Therefore, the rise in security breaches and cyberattacks is driving the growth of the consumer IAM market.
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https://www.thebusinessresearchcompany.com/report/consumer-iam-global-market-report
The consumer iam market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Organization Size: Large Enterprises, SMEs
3) By Verticals: BFSI, Hospitality, Healthcare, Retail and e-commerce, Public Sector, Automotive, Education, IT, Transportation and Logistics, Other Verticals
Subsegments: Identity Governance, Identity Verification and Authentication, Access Management and Authorization, Behaviour Analytics, Integration and Deployment, Support and Maintenance, Consulting
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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