Global Consumer Identity and Access Management Market
New York, September 29, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Consumer Identity and Access Management Global Market Report 2021: COVID-19 Implications And Growth” – https: //www.reportlinker. com / p06152589 /? utm_source = GNW
, LexisNexis Risk Solutions, GB Group Plc, Aware Inc., iWelcome and Acuant Inc.
The global consumer identity and access management (CIAM) market is expected to grow from $ 19.41 billion in 2020 to $ 23.00 billion in 2021 at a compound annual growth rate (CAGR) of 18.5 %. The change in growth trend is mainly due to the fact that companies have stabilized their production after meeting demand which increased exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $ 45.56 billion. in 2025 at a CAGR of 18.6%.
The Consumer Identity and Access Management market includes the sales of consumer identity and access management solutions and services by entities (organizations, sole proprietorships, and partnerships) that enable users to offer rapid access , easy, unified and secure across digital channels.Customer Identity and Access Management (CIAM) allows companies to collect and maintain customer identity in order to better understand the customer, tailor products, services and individual customer commitments.
It also allows organizations to securely capture and manage profile data and control customer access to services and applications.
The main types of Consumer Identity and Access Management (CIAM) components are solutions and services. Consumer Identity and Access Management solutions enable customer login, self-service identity management, authorization and choice management, single sign-on (SSO), factor authentication (MFA), access management, directory services and data access governance.
The different deployment modes include cloud, on-premises and are deployed in different sizes of organizations such as large enterprises and SMBs. It is implemented in various verticals such as banking, financial services and insurance (BFSI), healthcare, IT and telecommunications, consumer goods and retail, energy and utilities, public sector and others.
North America was the largest region in the Consumer Identity and Access Management (CIAM) market in 2020. Europe was the second largest market in the Consumer Identity and Access Management (CIAM) market .
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
Growing technological advances are shaping the market for consumer identity and access management. The major players in the market are focusing on new technological innovations such as cloud-based services to gain a competitive advantage over competitors in the industry.
For example, in February 2020, Amazon Web Service’s AWS Identity and Access Management introduced a new cloud-based access control for requests on behalf of users. With this control, customers can now grant access to their primary IAMs to launch Amazon Elastic Compute Cloud (EC2) through AWS CloudFormation.
In March 2021, Okta, a US-based IT service management company, acquired Auth0 for $ 6.5 billion in an all-stock transaction. With this acquisition, Okta has established a solid leadership position in the Identity and Access Management (IAM) and Customer Identity and Access (CIAM) industries. Auth0 is a United States-based company providing Client Identity and Access Services (CIAM).
The increasing use of Internet of Things (IoT) devices is expected to propel the growth of the consumer identity and access management market during the forecast period. The Internet of Things (IoT) is a system of interconnected, Internet-connected objects that can collect and transfer data over a wireless network without human intervention.
The IoT poses new security and privacy risks, which can jeopardize customer trust and the value of these new technologies. As a result, IoT organizations are embracing CIAM as it plays a critical role in user identity security.
For example, according to the TechJury report, 35 billion IoT devices are expected to be installed worldwide by the end of 2021.
Countries Covered In The Consumer Identity And Access Management Market Report Are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia , South Korea, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06152589/?utm_source=GNW
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