Advent of COVID-19 Pandemic to Add Extra Stars of Growth to Global Consumer Identity and Access Management Market during Forecast Period of 2020-2030, Opines TMR
- The rising need for a digital customer database across various businesses to provide seamless services is stated to bringing extensive growth prospects for the consumer identity and access management market
- The global consumer identity and access management market is expected to observe a healthy CAGR of ~12 percent across the assessment period of 2020-2030
ALBANY, N.Y., Oct. 15, 2020 /PRNewswire/ -- The growing influence of technology in everyday life and the escalating need to prevent spam and fraudulent activities on the internet may help the consumer identity and access management market to gain considerable growth during the forecast period of 2020-2030.
Based on the analysis by the researchers at TMR (Transparency Market Research), the global consumer identity and access management market may expand at a CAGR of ~12 percent from 2020 to 2030. The global consumer identity and access management market is valued at US $ 10.9 bn in 2020 and is expected to attain a valuation of US$ 32.9 bn by 2030.
The transformation of the demand type of consumer identity and access management systems from a privilege to a 'must-have' will have an intense positive impact on the growth of the consumer identity and access management market. According to research by Forbes, 92 percent of people stop interacting with a company after three or four bad experiences. Hence, the need for providing a good customer experience may bring exponential growth opportunities for the consumer identity and access management market.
Consumer Identity and Access Management Market: From Analyst Viewpoint
The analysts credit the persistent rise in cyber-attacks and suspicious user activities as the prominent factors for the growing demand of these systems. Hence, this aspect may bring staggering growth for the consumer identity and access management market.
The analysts also opine that the advent of technologies like the Internet of Things (IoT), artificial intelligence (AI), and blockchain may bring good growth opportunities for the consumer identity and access management market.
Analyze global consumer identity and access management market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Consumer Identity and Access Management Market: Key Revelations
On the basis of application, the authentication & access management segment held the largest share of the global consumer identity and access management market in 2019
The BFSI (Banking, Financial Services, and Insurance) segment accounted for a massive share in terms of industry in 2019
North America is expected to dominate the global consumer identity and access management market across the forecast period
The consumer identity and access management market in North America is expected to expand at a CAGR of 15.1 percent during the assessment period
Explore 260 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Consumer Identity and Access Management Market (Component: Software and Services [Managed Services and Professional Services]; Deployment: Software-as-a-Service [SaaS] and On-premise; Application: Directory Services, Authentication & Access Management, Identity Analytics, Governance and Compliance Management, and Others; Enterprise Size: Small & Mid-size Enterprises and Large Enterprises; and Industry: BFSI, Government, Retail, IT & Telecommunication, Media & Entertainment, Travel & Hospitality, Healthcare, Education, Energy & Utilities, Transportation & Logistics, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/consumer-identity-access-management-market.html
Consumer Identity and Access Management Market: Growth Boosters
The rising need for a cloud-based infrastructure among various businesses may bring tremendous growth prospects for the consumer identity and access management market
Consumer identity and access management systems provide a streamlined customer experience that makes them one of the preferred choices for many companies, thus boosting the overall growth rate
With frequent technological upgrades and advanced login options, the global consumer identity and access management market may bring consistent growth opportunities
Consumer Identity and Access Management Market: COVID-19 Impact
With the advent of the novel coronavirus pandemic, the constant rise in remote working mechanisms has led to a positive impact on the growth of the consumer identity and access management market. Furthermore, the healthcare sector is also experiencing a strain because of the rising number of patients. Hence, to reduce the strain regarding patient data, consumer identity and access management systems are proving to be a boon.
Global Consumer Identity and Access Management Market: Segmentation
Authentication & Access Management
Governance and Compliance Management
Others (User Provisioning and Password Management)
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