PUNE, India, April 13, 2017 /PRNewswire/ --
According to a new market research report "Consumer IAM Market by Solution (Directory, Identity Proofing, Identity Authentication, Identity Analytics, Identity Administration, and Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the IAM Market is expected to grow from USD 14.30 Billion in 2017 to USD 31.75 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.3%.
Browse 71 market data Tables and 49 Figures spread through 152 Pages and in-depth TOC on "Consumer IAM Market"
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Growing concerns related to management of consumer identities, rise in business digitalization trends creating the need for centralization of identities, rise in adoption of IoT and smart devices, and increased need to manage stringent regulatory compliance are the driving factors of the Consumer IAM Market.
Identity analytics solution is expected to grow at the highest rate in the Consumer IAM Market
The identity analytics solution is expected to grow at the highest CAGR in the Consumer IAM Market, during the forecast period. Organizations are widely adopting identity analytics solutions to combat identity thefts and other advanced cyber threats, as these solutions provide automated critical identity-based authentication controls. Furthermore, the identity authentication solution is expected to have the largest market share in the Consumer IAM Market, during the forecast period.
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Biometrics authentication type segment is expected to gain high traction in the Consumer IAM Market
The biometrics authentication type segment is estimated to grow at the highest CAGR from 2017 to 2022, due to high adoption of biometrics technology in Banking, Financial Services, and Insurance (BFSI), healthcare, and government sectors for advanced consumer identity authentication. The password authentication type segment is estimated to contribute the largest market size to the Consumer IAM Market, as it is the traditional and most widely used consumer authentication method.
Telecommunications vertical to grow at the highest rate in the Consumer IAM Market
The telecommunications vertical is expected to grow at the highest CAGR in the Consumer IAM Market, during the forecast period, as high customer volumes require seamless and secure identity management solutions. The BFSI vertical is expected to dominate the Consumer IAM Market, contributing the largest market share, during the forecast period, due to high requirement of consumer identity proofing and authentication for banking transactions and financial services.
North America is expected to contribute the largest market share, whereas APAC is expected to grow at the highest rate
North America is expected to have the largest market share and dominate the Consumer IAM Market from 2017 to 2022, due to the presence of a large number of IAM vendors across this region offering highly innovative identity proofing, identity analytics, and identity authentication solutions. On the other hand, APAC offers potential growth opportunities in the Consumer IAM Market, due to increasing spending for securing consumer's identity to prevent identity theft, in the emerging economies of the region, such as China, Australia, Singapore, and India.
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The major vendors in the Consumer IAM Market include IBM Corporation (U.S.), Microsoft Corporation (U.S.), Gigya, Inc. (U.S.), Ping Identity Corporation (U.S.), Okta, Inc. (U.S.), ForgeRock (U.S.), Janrain, Inc. (U.S.), LoginRadius, Inc. (Canada), iWelcome (Netherlands), GlobalSign (U.S.), and Trusona (U.S.), Mitek Systems (California, U.S.), and Aware, Inc. (Massachusetts, U.S.).
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