The consumer Identity and Access Management (IAM) market is expected to grow from USD 16.00 billion in 2018 to USD 37.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.8%
LONDON, August 21, 2018 /PRNewswire/ -- Organizations need to deliver enriched, consistent, and frictionless customer experience, and enhance the operational efficiency are expected to drive the consumer IAM market.
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The consumer Identity and Access Management (IAM) market is expected to grow from USD 16.00 billion in 2018 to USD 37.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period. The consumer IAM market is driven by factors, such as organizations need to deliver enriched, consistent, and frictionless customer experience, and enhance the operational efficiency. However, the dearth of security experts is one of the biggest challenges in the market.
Identity authentication segment is expected to account for the largest market share during the forecast period.
The identity authentication segment is expected to contribute the largest market share in the consumer IAM market during the forecast period. Identity authentication for consumers is of the utmost importance to verify and validate identities for secure and seamless consumer experience, as identity fraud and theft is one of the biggest cybercrimes in today's world.
Cloud segment is estimated to contribute the larger market share in 2018.
The cloud segment is a faster-growing segment in the consumer IAM market.SMEs, in particular, have implemented cloud deployment mode, as it enables them to focus on their core competencies rather than investing their capital in the security infrastructure.
Organizations can avoid costs related to hardware, software, storage, and technical staff by using cloud-based solutions.Hence, the cloud segment is estimated to contribute the largest market share in the consumer IAM market, in 2018.
However, organizations, where user credentials are critical for business operations, would use on-premises deployment mode as the organization itself controls their systems.
Asia Pacific is expected to account for the highest growth rate during the forecast period.
Asia Pacific (APAC) is expected to show the highest growth rate during the forecast period in the consumer IAM market.This growth is chiefly due to the high-security spending by organizations in major countries, such as China, Australia, India, Singapore, and Japan, for consumer identity proofing, authentication, and authorization.
Furthermore, North America is estimated to account for the largest market size, in 2018, as the region is an early adopter of these security technologies.
In-depth interviews were conducted with CEOs, marketing directors, innovation and technology directors, and executives from various key organizations operating in the consumer IAM market.
• By Company Type: Tier 1: 11%, Tier 2: 23%, and Tier 3: 66%
• By Designation: C-Level: 61%, Director Level: 27%, and Others: 12%
• By Region: North America: 36%, Europe: 24%, APAC: 28%, and Rest of the World (RoW): 12%
The report includes the study of key players offering consumer IAM solutions, such as IBM (US), Microsoft (US), Salesforce (US), SAP (Germany), Okta (US), CA Technologies (US), Janrain (US), Ping Identity (US), ForgeRock (US), LoginRadius (Canada), iWelcome (Netherlands), GlobalSign (UK), Trusona (US), SecureAuth (US), WidasConcepts (Germany), Acuant (US), EmpowerID (US), Onegini (Netherlands), Pirean (UK), Auth0 (US), Avatier (US), Ergon (Switzerland), ManageEngine (US), Simeio Solutions (US), and Ubisecure (Finland).
Research Coverage:
The report provides a picture of consumer IAM solutions and associated services across different industry verticals and regions.It aims at estimating the market size and future growth potential of this market, across different segments, such as solutions, services, deployment modes, organization size, industry verticals, and regions.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report would help the market leaders/new entrants in the market in the following ways:
1. The report segments the consumer IAM market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments across regions.
2. The report helps stakeholders understand the pulse of the market and provides them the information about the key market drivers, restraints, challenges, and opportunities.
3. The report helps stakeholders understand their competitors better and gain more insights to improve their positions in their businesses. The competitive landscape section includes competitor ecosystems, new product developments, partnerships, and mergers and acquisitions.
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