Consumer Identity And Access Management Iam Market
Consumer Identity and Access Management (IAM) Market Forecasts to 2028 – Global Analysis By Component (Solution, Services), Deployment Size (Cloud, On- Premises) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $8.71 BN |
|
Projected Year Value (2028) |
US $23.18 BN |
|
CAGR (2021 - 2028) |
17.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Consumer Identity and Access Management (IAM) Market is accounted for $8.71 billion in 2021 and is expected to reach $23.18 billion by 2028 growing at a CAGR of 17.3% during the forecast period. Customer identity and access management (IAM) aid an organization to manage and protect customers’ profile data, identity, and control of access to services and applications. Customer IAM solution offers numerous benefits such as seamless customer experiences powerful security, performance and scalability, and privacy.
Market Dynamics:
Driver:
Rise in Frequency and Scale of Data Thefts
Increasing data security has become a concern in the small, medium and large scale enterprises. Taking measures for the prevention of data breach has become a priority in IT security teams. Consumer IAM solutions offer end to end data security features, specifically for consumer identities, due to which they serve as good prospects for decreasing the risks of data thefts. Therefore, the demand of consumer identity and access management solutions is increasing and this drives the market growth. Rise in incidents of cyber-attacks has significantly increased the adoption of consumer IAM solutions among organizations. Organizations adopt IAM solutions to provide a secured platform for accessing services and online transactions. A strong IAM strategy prevents cyber-attacks by limiting access to sensitive data for unauthorized persons. For example; In April 2018, Forgerock commissioned Forrester Consulting to evaluate how organizations deploy AI and IoT solutions for focusing on the customer privacy and security concerns they raise.
Restraint:
Lack of Government Standardization
The lack of identity standards and inadequate resources in terms of budget, coupled with the high installation costs of CIAM solutions, are restraining the growth of the CIAM market. The initial investment and maintenance cost for employing CIAM systems are high due to the need to integrate robust security technologies.
Opportunity:
Growing Usage of IoT and Smart Devices
Increasing adoption of IoT and smart devices in industries has created demand for consumer identity and access management solutions. Rise in number of mobile devices among enterprises has posed issues for data management in various systems which increased the threat of cybercrimes. Thus, organizations have been adopting advanced authentication security solutions in order to protect sensitive information of consumers.
Threat:
Poor Identity Standards across Organizations
The increasing number of cyber threats due to the poor regulatory is impacting the market growth rate. Advanced versions of IAM solutions handle more complex services. This creates a cost hurdle to the organizations. The lack of identity standards and insufficient resources in terms of budget, are significantly hindering the growth of the market.
Banking, Financial Services, And Insurance (BFSI) segment is expected to be the largest during the forecast period
The banking, financial services, and insurance (BFSI) segment are going to have lucrative growth during the forecast period, owing to the frequent incidents of internet frauds during financial transactions worldwide. Additionally, an increase in customer interaction through social media, mobile, physical, and other channels to access financial services deliver huge growth to the players in the BFSI sector.
The Cloud segment is expected to have the highest CAGR during the forecast period
Cloud based is set to grow at highest rate during the forecast period 2020-2025, owing to the high adoption in many firms. Rendering the cloud provides virtually infinite computing power and enables the user to create realistic and high resolution images. Cloud deployment provides greater flexibility, scalability, and improved performance over the traditional deployment model. Many major players such as IBM, Google, and others provide IAM solutions through cloud based models owing to the reduced security risk through improved controls. This drives the cloud based deployment of consumer IAM solutions.
Region with largest share:
The Asia Pacific is projected to hold the highest market share, due to the growing demand for electricity in heavily populated countries such as India and China, the development of grid infrastructure, and growing investments in the power sector, increasing investments by organizations to develop efficient database management systems and rising demand for cloud-based applications in this province. India has seen some major changes over the past decade, and this decade is expected to record high urbanization and digitization rates, which would be driven by increasing technological proliferation. The nation has a budding landscape and has been seeing many start-ups and the establishment of many new businesses and organizations. This makes India a very lucrative market for CIAM solutions and services. India is also seeing major adoption of cloud-based systems, which is creating the need for more advanced consumer identity solutions. The nation has a huge population, and as digitization picks pace, the volume of data from Indian consumers will also increase, and there will be a need for better and advanced cyber security solutions and services. This is also a major factor that could propel demand for CIAM solutions in India.
Region with highest CAGR:
North America is projected to have the highest CAGR. North America is expected to dominate the market within the forecast period attributed to the increasing partnership between organizations and the early adoption of new technology in this province. A partnership between organizations reduces the data breach risks by highlighting identity data and keeping it protected. For example, on April 1st, 2020 IDP Cyber and Ubisecure announced a new partnership to provide clients with a robust customer identity management solution combined with IDP Cyber’s other identity offerings. As the U.S. is home to many major tech giants such as Microsoft and Apple, it houses their headquarters, and consumer data from across the globe is utilized and stored here. This creates major demand for consumer identity and access management solutions and services to ensure that this data from organizations is safe from all cybersecurity threats that are becoming increasingly frequent.
Key players in the market:
Some of the key players profiled in the Consumer Identity and Access Management (IAM) Market include Microsoft Corporation, SAP SE (Gigya, Inc.), Ping Identity, Okta, Inc., Forgerock Inc., Janrain, Inc., Loginradius, Inc., Iwelcome B.V., Globalsign, Trusona, Acuant, Inc., Akamai Technologies.
Key developments:
In January 2019: Akamai Technologies, a technology firm, announced that it would be adding identity and access management capabilities to its portfolio, as it announced the acquisition of Janrain Inc., who is regarded as a pioneer of Customer Identity Access Management (CIAM).
In November 2021: Okta Inc., a leading name in the IAM industry, announced its expansion plans for Japan. As part of its international expansion efforts, Okta will launch Amazon Web Services-based Okta infrastructure in February 2022 to provide services to its expanding customer base in Japan.
In July 2021: LoginRadius launch the product Step-up Authentication, that improve overall data security and privacy and helps in building consumer trust. The latest feature in the CIAM solution helps ensure consumers step-up authentication in certain instances even after they have successfully performed the login.
Types Covered:
• CIAM Software Solutions
• CIAM Services
Components Covered:
• Solutions
• Services
Deployment Sizes Covered:
• Cloud
• On-Premises
Authentication Types Covered:
• Biometrics
• Knowledge-Based Answers
• Passwords
• Personal identification number (PIN)
• Security Certificates
• Tokens
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises (SMEs)
End Users Covered:
• Automotive
• Banking, Financial Services, and Insurance (BFSI)
• Education Services
• Energy and Utilities
• Finance & Insurance
• Healthcare & Social Assistance
• Hospitality
• Information Technology (IT)
• Manufacturing
• Media and Entertainment
• Public Administration
• Public Sector
• Retail and E-Commerce
• Transportation and Logistics
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Consumer Identity and Access Management (IAM) Market, By Type
5.1 Introduction
5.2 CIAM Software Solutions
5.2.1 Advanced Authentication
5.2.2 Profile Management
5.2.3 Credentials Management & Profiling
5.3 CIAM Services
5.3.1 Professional Services
5.3.2 Managed Services
6 Global Consumer Identity and Access Management (IAM) Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Access Management Authorization
6.2.2 Behavioral Analytics
6.2.3 Data Aggregation
6.2.4 Data Governance
6.2.5 Directory Services
6.2.6 Identity Analytics
6.2.7 Identity Authentication
6.2.8 Identity Governance
6.2.9 Identity Proofing/Verification
6.2.10 Registration
6.2.11 Single-Sign On (SSO)
6.3 Services
6.3.1 Advisory and Implementation Services
6.3.2 Support Services
6.3.3 Training and Education Services
6.3.4 Integration and Deployment
6.3.5 Support and Maintenance
6.3.6 Consulting
7 Global Consumer Identity and Access Management (IAM) Market, By Deployment Size
7.1 Introduction
7.2 Cloud
7.3 On-Premises
8 Global Consumer Identity and Access Management (IAM) Market, By Authentication Type
8.1 Introduction
8.2 Biometrics
8.3 Knowledge-Based Answers
8.4 Passwords
8.5 Personal identification number (PIN)
8.6 Security Certificates
8.7 Tokens
9 Global Consumer Identity and Access Management (IAM) Market, By Organization Size
9.1 Introduction
9.2 Large Enterprises
9.3 Small and Medium-Sized Enterprises (SMEs)
10 Global Consumer Identity and Access Management (IAM) Market, By End User
10.1 Introduction
10.2 Automotive
10.3 Banking, Financial Services, and Insurance (BFSI)
10.4 Education Services
10.5 Energy and Utilities
10.6 Finance & Insurance
10.7 Healthcare & Social Assistance
10.8 Hospitality
10.9 Information Technology (IT)
10.10 Manufacturing
10.11 Media and Entertainment
10.12 Public Administration
10.13 Public Sector
10.14 Retail and E-Commerce
10.16 Transportation and Logistics
11 Global Consumer Identity and Access Management (IAM) Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Microsoft Corporation
13.2 SAP SE (Gigya, Inc.)
13.3 Ping Identity
13.4 Okta, Inc.
13.5 Forgerock Inc.
13.6 Janrain, Inc.
13.7 Loginradius, Inc.
13.8 Iwelcome B.V.
13.9 Globalsign
13.10 Trusona
13.11 Acuant, Inc.
13.12 Akamai Technologies
List of Tables
1 Global Consumer Identity and Access Management (IAM) Market Outlook, By Region (2019-2028) (US $MN)
2 Global Consumer Identity and Access Management (IAM) Market Outlook, By Type (2019-2028) (US $MN)
3 Global Consumer Identity and Access Management (IAM) Market Outlook, By CIAM Software Solutions (2019-2028) (US $MN)
4 Global Consumer Identity and Access Management (IAM) Market Outlook, By Advanced Authentication (2019-2028) (US $MN)
5 Global Consumer Identity and Access Management (IAM) Market Outlook, By Profile Management (2019-2028) (US $MN)
6 Global Consumer Identity and Access Management (IAM) Market Outlook, By Credentials Management & Profiling (2019-2028) (US $MN)
8 Global Consumer Identity and Access Management (IAM) Market Outlook, By CIAM Services (2019-2028) (US $MN)
9 Global Consumer Identity and Access Management (IAM) Market Outlook, By Professional Services (2019-2028) (US $MN)
10 Global Consumer Identity and Access Management (IAM) Market Outlook, By Managed Services (2019-2028) (US $MN)
11 Global Consumer Identity and Access Management (IAM) Market Outlook, By Component (2019-2028) (US $MN)
12 Global Consumer Identity and Access Management (IAM) Market Outlook, By Solutions (2019-2028) (US $MN)
13 Global Consumer Identity and Access Management (IAM) Market Outlook, By Access Management Authorization (2019-2028) (US $MN)
14 Global Consumer Identity and Access Management (IAM) Market Outlook, By Behavioral Analytics (2019-2028) (US $MN)
15 Global Consumer Identity and Access Management (IAM) Market Outlook, By Data Aggregation (2019-2028) (US $MN)
16 Global Consumer Identity and Access Management (IAM) Market Outlook, By Data Governance (2019-2028) (US $MN)
17 Global Consumer Identity and Access Management (IAM) Market Outlook, By Directory Services (2019-2028) (US $MN)
18 Global Consumer Identity and Access Management (IAM) Market Outlook, By Identity Analytics (2019-2028) (US $MN)
19 Global Consumer Identity and Access Management (IAM) Market Outlook, By Identity Authentication (2019-2028) (US $MN)
20 Global Consumer Identity and Access Management (IAM) Market Outlook, By Identity Governance (2019-2028) (US $MN)
21 Global Consumer Identity and Access Management (IAM) Market Outlook, By Identity Proofing/Verification (2019-2028) (US $MN)
22 Global Consumer Identity and Access Management (IAM) Market Outlook, By Registration (2019-2028) (US $MN)
23 Global Consumer Identity and Access Management (IAM) Market Outlook, By Single-Sign On (SSO) (2019-2028) (US $MN)
24 Global Consumer Identity and Access Management (IAM) Market Outlook, By Services (2019-2028) (US $MN)
25 Global Consumer Identity and Access Management (IAM) Market Outlook, By Advisory and Implementation Services (2019-2028) (US $MN)
26 Global Consumer Identity and Access Management (IAM) Market Outlook, By Support Services (2019-2028) (US $MN)
27 Global Consumer Identity and Access Management (IAM) Market Outlook, By Training and Education Services (2019-2028) (US $MN)
28 Global Consumer Identity and Access Management (IAM) Market Outlook, By Integration and Deployment (2019-2028) (US $MN)
29 Global Consumer Identity and Access Management (IAM) Market Outlook, By Support and Maintenance (2019-2028) (US $MN)
30 Global Consumer Identity and Access Management (IAM) Market Outlook, By Consulting (2019-2028) (US $MN)
31 Global Consumer Identity and Access Management (IAM) Market Outlook, By Deployment Size (2019-2028) (US $MN)
32 Global Consumer Identity and Access Management (IAM) Market Outlook, By Cloud (2019-2028) (US $MN)
33 Global Consumer Identity and Access Management (IAM) Market Outlook, By On-Premises (2019-2028) (US $MN)
34 Global Consumer Identity and Access Management (IAM) Market Outlook, By Authentication Type (2019-2028) (US $MN)
35 Global Consumer Identity and Access Management (IAM) Market Outlook, By Biometrics (2019-2028) (US $MN)
36 Global Consumer Identity and Access Management (IAM) Market Outlook, By Knowledge-Based Answers (2019-2028) (US $MN)
37 Global Consumer Identity and Access Management (IAM) Market Outlook, By Passwords (2019-2028) (US $MN)
38 Global Consumer Identity and Access Management (IAM) Market Outlook, By Personal identification number (PIN) (2019-2028) (US $MN)
39 Global Consumer Identity and Access Management (IAM) Market Outlook, By Security Certificates (2019-2028) (US $MN)
40 Global Consumer Identity and Access Management (IAM) Market Outlook, By Tokens (2019-2028) (US $MN)
41 Global Consumer Identity and Access Management (IAM) Market Outlook, By Organization Size (2019-2028) (US $MN)
42 Global Consumer Identity and Access Management (IAM) Market Outlook, By Large Enterprises (2019-2028) (US $MN)
43 Global Consumer Identity and Access Management (IAM) Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2019-2028) (US $MN)
44 Global Consumer Identity and Access Management (IAM) Market Outlook, By End User (2019-2028) (US $MN)
45 Global Consumer Identity and Access Management (IAM) Market Outlook, By Automotive (2019-2028) (US $MN)
46 Global Consumer Identity and Access Management (IAM) Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2019-2028) (US $MN)
47 Global Consumer Identity and Access Management (IAM) Market Outlook, By Education Services (2019-2028) (US $MN)
48 Global Consumer Identity and Access Management (IAM) Market Outlook, By Energy and Utilities (2019-2028) (US $MN)
49 Global Consumer Identity and Access Management (IAM) Market Outlook, By Finance & Insurance (2019-2028) (US $MN)
50 Global Consumer Identity and Access Management (IAM) Market Outlook, By Healthcare & Social Assistance (2019-2028) (US $MN)
51 Global Consumer Identity and Access Management (IAM) Market Outlook, By Hospitality (2019-2028) (US $MN)
52 Global Consumer Identity and Access Management (IAM) Market Outlook, By Information Technology (IT) (2019-2028) (US $MN)
53 Global Consumer Identity and Access Management (IAM) Market Outlook, By Manufacturing (2019-2028) (US $MN)
54 Global Consumer Identity and Access Management (IAM) Market Outlook, By Media and Entertainment (2019-2028) (US $MN)
55 Global Consumer Identity and Access Management (IAM) Market Outlook, By Public Administration (2019-2028) (US $MN)
56 Global Consumer Identity and Access Management (IAM) Market Outlook, By Public Sector (2019-2028) (US $MN)
57 Global Consumer Identity and Access Management (IAM) Market Outlook, By Retail and e-commerce (2019-2028) (US $MN)
58 Global Consumer Identity and Access Management (IAM) Market Outlook, By Transportation and Logistics (2019-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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