Consumer Identity and Access Management Market Size,March 23, 2020
Consumer Identity and Access Management Market
Identity and access management (IAM) solutions help organizations in the management of identities of employees, consumers, partners, contractors, and others to ensure secure and seamless services. Consumer IAM industry players help in implementing solutions that authenticate identities of customers across digital and non-digital channels. Consumer identity and access management solutions adopted by businesses assist in securing sensitive data of customers and protecting them from cyber-threats and other financial frauds.
According to this study, over the next five years the Consumer Identity and Access Management market will register a 15.5% CAGR in terms of revenue, the global market size will reach US$ 21900 million by 2023, from US$ 9250 million in 2017.
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Moreover, increase in incidents of cyber-attacks and ongoing trend of using IoT across various sectors including public, manufacturing, education, defense, media & entertainment, and others are the prominent driving factors of the market. However, lack of standardization and rise in concerns towards cloud-based security is expected to hamper global consumer identity and access management solutions adoption trend. Moreover, growing adoption of mobile devices, increasing scalability & performance of consumer IAM security solutions in adverse conditions such as elastic demand, and aggrandized generation of network traffic are expected to provide lucrative growth opportunities to the market players during the forecast period.
The global consumer identity and access management market is segmented based on solution, industry vertical, and geography. Based on solution, the market is divided into advanced authentication, identity proofing services, and others (password management, data aggregation, and registration). The industry verticals adopting consumer IAM solutions are banking, financial services, and insurance (BFSI), healthcare, IT & telecom, consumer goods and retail, energy & utilities, public sector, and others (media & entertainment, education, and manufacturing).
In market segmentation by manufacturers, the report covers the following companies-
Ping Identity Corporation
Mitek Systems Inc.
LexisNexis Risk Solutions Inc.
GB Group Plc
ID Analytics, Inc.
This study sheds light on the current scenario of the Global Consumer Identity and Access Management Market, market forecast, growth opportunities, key market segments, and emerging players. The study aims to analyze the Consumer Identity and Access Management growth in the key regions. In order to render valuable insights relating…