Consumer Identity and Access Management Market - Advanced technologies & growth opportunities in global Industry

Global Consumer Identity and Access Management (CIAM) Market: Snapshot

In today’s hyper-connected world, where business entities cannot afford to lose their consumers attention for even a nano-second, consumer identity and access management (CIAM) can go a long way in helping them achieve their objectives. It enables savvy companies to register and authenticate customers, manage their database, and reach out to them with new offerings. In short, it augments engagement with the brand by according secure, unified, and business-enhancing customer experience across various avenues.

With competition in end-use industries intensifying by the day, the demand for global consumer identity and access management is expected to make gigantic strides in the foreseeable future. Current prominent players in the market include Ping Identity Corporation, TransUnion, Gigya, Inc., Onegini, Centrify Corporation, GB Group, Mitek Systems Inc., Traxion Inc., Okta, Inc., MorphoTrust USA, Aware Inc., Experian PLC, Janrain, Inc., LexisNexis Risk Solutions Inc., ID Analytics, and Equifax Inc. These companies are resorting to new product launches and collaborations and partnerships to capture greater share of the market.

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From a geographical perspective, North America holds a dominant position in the global market for consumer identity and access management. In the near future too, the region is predicted retain its leading position because of the swift uptake of latest technologies, rising deployment of cyber laws, and legal regulatory for data protection by the government, especially in the U.S. Asia Pacific market too is predicted to gain in the forthcoming years on the back of swift urbanization and a thriving banking, financial services, and insurance and healthcare sector.

Global Consumer Identity and Access Management Market: Overview

With an understanding of the consumer, not just their name but also their preferences, companies can recognize their customers, collect essential first-party data, and provide personalized service, which in turn helps them increase their sales. The technology that makes this possible is called consumer identity and access management (CIAM), with which companies can register and authenticate customers, manage their database, and connect with them to present new offerings. As the competition among the end use industries intensifies owing to rapid technological advancements, the demand in the global consumer identity and access management is projected to expand at a radical CAGR during the forecast period of 2017 to 2025.

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This report on global market for consumer identity and access management (IAM) detects and analyzes the factors that may influence the demand for CIAM in the near future and estimates their eventual impact. The report is meant for the vendors of several consumer product industries, aspiring to help them in making more informed business decisions. The report also identifies and analyzes several players in this market for their operating business segments, products and business performance, and recent strategic moves.

The global consumer IAM market can be segmented on the basis of solution into advanced authentication, identity proofing services, and others including password management, data aggregation, and registration. By service, the market can be bifurcated into professional services including implementation, training and support and consulting, and managed services. On the basis of deployment type, the market can be bifurcated into cloud deployment and on-premise deployment. By end-use industry, the market can be categorized into banking, financial services, and insurance (BFSI), healthcare, IT and telecom, consumer goods and retail, energy and utility, public sector, and others including media and entertainment, education, and manufacturing. Geographically, the report explores the potential of this market in regions such as North America, Europe, Asia Pacific, and Latin America.

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Global Consumer Identity and Access Management Market: Trends and Opportunities

The increasing demand for centralized monitoring and stringent regulations to attain effective management of critical data is the primary driver of this market. In addition to that, rise in cyber threats is enticing organizations to adopt advanced authentication security solutions. Increasing adoption of the Internet of Things (IoT) is another factor augmenting the demand in the global consumer identity and access management market. Conversely, factors such as the lack of standardization and security concerns pertaining to cloud-based consumer IAM are expected to hinder the growth rate during the forecast period. The report also highlights a few opportunities in this market such as growing popularity of mobile devices, scalability, and performance.

Global Consumer Identity and Access Management Market: Regional Outlook

Currently, North America serves most of the demand in this market, and is expected remain the most lucrative region through-out the forecast period, owing to factors such as high adoption rate of new technology, increase in implementation of cyber laws and legal regulatory for data protection by the government, particularly in the U.S. Rapid urbanization in several emerging economies in Asia Pacific are also expected to extend the demand in the near future, gaining from the thriving BFSI and healthcare sectors.

Companies mentioned in the research report

Some of the prominent companies in the global consumer identity and access management market are Ping Identity Corporation, Gigya, Inc., Onegini, TransUnion, Centrify Corporation, Mitek Systems Inc., Traxion Inc., Okta, Inc., Experian PLC, Janrain, Inc., LexisNexis Risk Solutions Inc., GB Group, ID Analytics, MorphoTrust USA, Aware Inc., and Equifax Inc. New product launches and collaborations and partnerships to increase regional reach are two of the most frequent strategies adopted by these players to maintain their monopoly.

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