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Rise in number of security breaches and cyber-attacks is a major factor driving global Consumer Identity and Access Management (CIAM) Market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, April 20, 2023 /EINPresswire.com/ -- The new report titled ‘Global Consumer Identity and Access Management Market,’ published by Emergen Research, is a vivid presentation of the global Consumer Identity and Access Management market, with utmost focus on the forecast market size, share, value, and volume over the projected timeline. The report throws light on the current economic landscape of this business vertical and evaluates the top market trends. It has been compiled through significant primary research, including surveys, interviews, and expert analysts’ observations. It features insightful qualitative and quantitative assessments of the Consumer Identity and Access Management industry, gathering industry-verified data from the value chain analysis. The report, additionally, examines the prevailing trends in the market, along with the macro- and micro-economic indicators. The report delivers a deep understanding of the key aspects of the Consumer Identity and Access Management market, for instance, import and export dynamics, production and consumption rates, and consumer bases across the major market regions.

The global Consumer Identity and Access Management (CIAM) market size is expected to reach USD 40.87 Billion in 2032, and register a steady revenue CAGR of 15.3% during the forecast period, according to latest analysis by Emergen Research. The steady market revenue growth can be attributed to increasing cases of identity theft and fraud globally. Commercial software program − customer identity and access management or customer identity and access manager − gives clients login credentials and confirms the identity of individuals seeking to log in with those credentials. This program can also be used to describe the automatic login management and access control processes used by CIAM apps. CIAM is made to give authorized users access to their accounts securely, quickly, and easily while limiting access by unauthorized users. Procedures for authorizing access to customer accounts using online identity authentication techniques and identity proofing procedures are included in CIAM. These include procedures for configuring digital customer identities, including creating usernames, selecting passwords, setting up profiles, and assigning which features customers can access.

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Absence of identity standards and financial restrictions on the use of CIAM solutions could restrain market revenue growth. Many companies are not aware of the strategic importance of homogeneity. According to top executives from CIAM companies, businesses across a range of industries, such as retail, media, entertainment, and education, lag behind in identity management. Keeping up with corporate and industry standards is quite expensive. Cost savings, lower transaction costs, and significant competitive advantages can all be attained by standardization, which can also broaden the scope and lessen the reliance on a single supply.

Key Highlights from the Report

On 21 January 2022, Alcor, a well-known global supplier of cloud solutions, security, and implementation services, announced the successful expansion of AccessFlow, one of its IAM products. It is a self-service, automated enterprise access management tool that was developed on the ServiceNow platform to assist businesses in attaining compliant, centralized, and automated access management.

AccessFlow offers the performance, security, and graphical user interface of the ServiceNow platform, which has been developed and validated for quick, agile, secure, resilient, and connected digital transformation.

On-premise segment is expected to lead in terms of revenue share in the global market over the forecast period owing to rising awareness regarding various benefits offered. Internally within the company, corporate consumer data is managed and stored using an on-premises solution. One can easily have complete control over their data.

Cloud-based software can be tough to connect with other applications due to its ‘one-size-fits-all’ architecture. With an on-premises solution, certain components can be altered, changed, or configured in accordance with the terms of the software license. On-premise software is therefore more likely to be customized to the needs and requirements of the organizations. It is necessary to hire at least one dedicated IT staff member to maintain and support the server if on-premises software is adopted.

BFSI segment is expected to lead in terms of revenue share in the global market over the forecast period. A bank employs identity and access management with its clients. For instance, a consumer must create a username and password in order to access their online checking account.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Consumer Identity and Access Management market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report are:

IBM, Microsoft, Salesforce, Inc., SAP, Broadcom, Okta, Akamai Technologies, Ping Identity, ForgeRock, LoginRadius Inc.

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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Dynamics:

The report offers insightful information about the market dynamics of the Consumer Identity and Access Management market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Consumer Identity and Access Management market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Consumer Identity and Access Management market.

For the purpose of this report, Emergen Research has segmented global Consumer Identity and Access Management (CIAM) Market on the basis of component, deployment mode, organization size, vertical, and region:

Component Outlook (Revenue, USD Billion; 2019–2030)

Solution

Identity Governance

Identity Verification & Authentication

Access Management & Authorization

Behavioral Analytics

Services

Integration & Deployment

Support & Maintenance

Consulting

Deployment Mode Outlook (Revenue, USD Billion; 2019–2030)

Cloud

On-Premises

Organization Size Outlook (Revenue, USD Billion; 2019–2030)

Small & Medium-Sized Enterprises (SMEs)

Large Enterprises

Vertical Outlook (Revenue, USD Billion; 2019–2030)

Banking, Financial Services, & Insurance Trends (BFSI)

Hospitality

Healthcare

Retail & E-Commerce

Public Sector

Automotive

Education

Information Technology

Transportation & Logistics

Other Verticals

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Key Coverage of the Consumer Identity and Access Management Market:

Insightful information regarding the global Consumer Identity and Access Management market

Identification of growth in various segments and sub-segments of the Consumer Identity and Access Management market

Strategic recommendations for investment opportunities

The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate

Emerging trends and current market segment analysis to help investors formulate new business strategies

Accelerates the decision-making process through the availability of the drivers and limitations

Thank you for reading our report. Please get in touch with us if you have any query regarding the report or its customization. Our team will ensure the report is best suited to your needs.

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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