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Consumer Identity and Access Management (IAM) Market ( Advanced Authentication, Data Governance, Identity Proofing Services, Directory Services; Service - Services, Managed Services; Deployment Mode - Cloud - BFSI, Retail Ecommerce, Healthcare, IT, Others): Global Industry Analysis, Trends, Size, Share Forecasts to 2026

  • Published : December, 2020

  • Rep Id : CGP120

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on consumer identity and access management (IAM) market provides in-depth analysis of segments and sub-segments in the global as well as regional consumer identity and access management (IAM) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional consumer identity and access management (IAM) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global consumer identity and access management (IAM) market. According to the report, the global consumer identity and access management (IAM) market is projected to grow at a CAGR of 13.5% over the forecast period of 2020-2026.

 

Market Insight

Advancements in the electronic and IT sectors have brought radical changes across several industry verticals. Information technology has found several applications across different industrial sectors including data storage, data management, and data transfer. One of the popular applications of software and information technology is identity and access management. The identity and access management (IAM) software search for the information of individuals stored in the servers and authenticates their identity. IAM solutions help organizations to authenticate the identity of employees, consumers, partners, and contractors in order to offer their services in the most secure and efficient way. Moreover, IAM solutions help organizations to store the sensitive data of their consumer securely, protecting them from any kind of data breach or cyber-attack. The emergence of innovative technologies such as cloud computing and artificial intelligence is further improving IAM solutions.

 

The concerns over the spread of coronavirus have compelled people to stay inside their homes to avoid infection. Thus, people are adopting online methods of shopping and transactions. This, in turn, is driving the adoption of IAM services across various sectors. Moreover, several industries are implementing work-from-home culture in order to adapt according to the changing lifestyle during the pandemic. Remote working augments the demand for seamless management of the identities of employees and other business stakeholders. IAM solutions are helping businesses to manage the stakeholder identity data securely and efficiently during the coronavirus crisis. However, the COVID-19 pandemic has severely affected the global economy, diminishing the sales of numerous industries. Lower revenue of the businesses has led to lower spending on consumer IAM solutions. The growing concerns regarding data breaches and cyber-attacks are expected to majorly drive the growth of the identity and access management market. The number of cyber-attacks and data breaches has increased over the past few years. Consumer and employee data is more prone to cyber-attacks and data breaches. Thus, the demand to protect such data has increased in the recent past. Moreover, a rise in the cases of identity theft and fraud is anticipated to boost the market growth. The consumer IAM solutions help organizations to securely store the consumer identity and protect themselves from frauds. However, the lack of standardization of identity authentication solutions is one of the key challenges for the market. On the other hand, the growing adoption of cloud-based IAM solutions is expected to offer business opportunities during the forecast period.

 

In terms of geography, North America generated the largest revenue in the consumer identity and access management market in 2019. The US is the major diver for the revenue of consumer identity and access management market in North America. The higher digitization across industries such as healthcare, banking, financial services, and insurance (BFSI), and government organizations is mainly supporting the domination of North America in the global market. However, Asia Pacific is anticipated to witness a rapid growth in the market owing to growing threats of cyber-attacks the organizations. Moreover, the improving economic conditions and industrialization in Asian countries are expected to escalate the demand for consumer IAM solutions over the forecast period.

 

Segment Covered

The report on global consumer identity and access management (IAM) market covers segments such as solution, service, deployment mode, and end-user. On the basis of solution, the sub-markets include advanced authentication, data governance, identity proofing services, directory services, and others. On the basis of service, the sub-markets include professional services, and managed services. On the basis of deployment mode, the sub-markets include on-premises, and cloud. On the basis of end-user, the sub-markets include bfsi, retail and ecommerce, healthcare, IT, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as IBM, MICROSOFT, SALESFORCE, SAP, BROADCOM, OKTA, AKAMAI TECHNOLOGIES, PING IDENTITY, FORGEROCK, and LOGINRADIUS.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of consumer identity and access management (IAM) market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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