Consumer Identity & Access Management Market Estimated to Experience a Hike in Growth by 2025

Organizations which succeed in understanding their customers in a better way, in addition to keeping their personal information intact and secure, fulfill today criteria to success, may it be a small retailer or a multi-national organizations. As a result, enterprises today are moving towards the adoption of consumer identity and access management. This not only helps organizations to have deep customer insights in order to maintain their brand image and deliver the products successfully, but also helps to store all the customer-related information in a safe and secure way. As the adoption of Consumer Identity & Access Management solutions increases, the market is anticipated to witness healthy double digit CAGR in the near future.

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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.

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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.

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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