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Consumer Identity & Access Management Market Shares, Strategies, Outlook and Forecast Worldwide upto 2025
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Consumer Identity & Access Management Market: Drivers and Challenges
Rising adoption of IoT and stringent government regulations, are the primary factors contributing to rise in Consumer Identity & Access Management market. Large multinational organizations find it inevitable to maintain, digital relationships with customers, in order to understand the need of their customers and shift their products accordingly. Owing to rising incidents of fraudulent transactions, the banking and finance sector is required to maintain bulk data about the customers, their transactions and their services. As a result, the banking and financial sector contributes significantly, towards Consumer Identity & Access Management. Moreover, the customer details are now required in nearly every sector and due to the rising number of advanced cyber threats and identity thefts, the Consumer Identity & Access Management is anticipated to witness healthy growth in near future.
The lack of standardization and rising concerns about security in Consumer Identity & Access Management, can be anticipated to hamper the market growth for Consumer Identity & Access Management.
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Consumer Identity & Access Management Market: Segmentation
Segmentation of Consumer Identity & Access Management Market on the basis of component:
On the basis of component, the global Consumer Identity & Access Management Market can be segmented into CIAM Platform and Support services.
Segmentation of Consumer Identity & Access Management Market on the basis of industry verticals:
On the basis of industry verticals, the global Consumer Identity & Access Management Market can be segmented into Healthcare, Telecommunication, BFSI, Media & Entertainment, Travel & Hospitality, Retail & Consumer Goods and Others.
Segmentation of Consumer Identity & Access Management Market on the basis of applications:
On the basis of applications, the global Consumer Identity & Access Management Market can be segmented into Compliance Management, Web Security, Customer Identity Authentication, Password Management and Others.
Competitive landscape
Key Development
In December 2016, Experian PLC, with Touch Bank an online banking startup, launched FraudNet. The FraudNet services was launched in order to prevent online frauds such as fraudulent online transactions, fake accounts, takeover of existing accounts by third party and many more.
IBM Corporation, Microsoft Corporation, Gigya, Inc., Ping Identity Corporation, Okta, Inc., ForgeRock, Janrain, Inc., LoginRadius, Inc., iWelcome, GlobalSign, and Trusona are some of the key players in the Consumer Identity & Access Management Market.
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Regional Overview
The Consumer Identity & Access Management Market is sub-segmented into 7 key regions- North America, Latin America, East Europe, West Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa.
North America Consumer Identity & Access Management market is expected to have the largest market share in 2016, owing to a large number of vendors in the market. Moreover, the Asia-Pacific is expected to have the highest CAGR owing to rising number of cyber security attacks in the market. Also, the underdeveloped regions, such as Latin America and MEA is expected to witness a moderate CAGR in the Consumer Identity & Access Management Market.
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