(MENAFN- Straits Research)
Consumer identity and access management solutions find application across numerous industries, including healthcare, education, government, telecommunication, retail, e-commerce, and hospitality, among others. The exponential rise in adoption of smart devices, digitization of businesses, rising need to prevent cyber frauds are some of the key driving factors for the growth of the access management and consumer identity market. Frequent cases of fraud and cyber-attacks are accelerating the demand for these solutions, along with government support and investments to optimize operations
Market Segmentation
The consumer identity and access management (IAM) market can be segmented by industry vertical, service type, deployment type, geography, and solution.
On the basis of service type, the global consumer identity and access management market can be segmented into managed services and professional services. The profession service segment is expected to hold the largest market share in terms of revenue during the forecast period with a large number of organizations deploying consumer authentication and identity proofing solutions.
On the basis of solution, the market can be segmented into advanced authentication, identity proofing services, data governance, directory service, and others. The identity proofing segment is expected to grow at the highest rate as organizations are adopting identity proofing solutions to tackle identity thefts and advanced cyber threats.
On the basis of deployment, the consumer identity and access management market can be segmented into on-premise and cloud. The cloud deployment segment is projected to hold the largest market share during the forecast period, owing to the high rate of cloud deployment by SMEs. Cloud deployment enables SMEs to focus on their core competencies rather than security infrastructure.
Based on the industry vertical, the market can be segmented into BFSI, healthcare, IT & telecom, retail, and others. The healthcare segment is expected to exhibit the highest growth rate in the consumer IAM market, due to the widespread implementation of consumer IAM solutions to improve patient experience.
Regional Analysis
Geographically, the global consumer identity and access management market has been segmented into North America, LAMEA, Asia Pacific, and Europe.
North America is expected to hold the largest market share during the forecast period, due to the increasing implementation of legal regulatory and cyber laws to improve data protection by governments in the region. Apart from this, the strong presence of consumer IAM players in this region is also contributing to market growth.
Europe is projected to grow at a significant rate in the consumer IAM market during the forecast period, owing to the growing consumer IAM trend of centralized monitoring and stringent government regulations to protect customer data.
Asia Pacific region is expected to grow at the highest rate during the forecast period, owing to the increasing incidences of cyber-attacks and growth in energy & power sectors, which are collectively driving the demand for consumer identity and access management solutions.
The LAMEA region is expected to grow at a steady rate, owing to the increasing use of mobile devices and adoption of latest technologies in the region.
Competitive Advantage
Some of the major players in the consumer IAM market are Microsoft (U.S.), IBM Corporation (U.S.), Salesforce (U.S.), CA Technologies (U.S.), SAP SE (Germany), Ping Identity (U.S.), Okta, Inc. (U.S.) LoginRadius (Canada), GlobalSign (U.K.), Trusona (U.S.), SecureAuth (U.S.), Acuant (U.S.), EmpowerID (U.S.), Pirean (U.K.), Avatier (U.S.), Ergon (Switzerland), Ubisecure (Finland), ForgeRock (U.S.), iWelcome (Netherlands), and Gigya, Inc. (U.S.).
In January 2018, ForgeRock announced a partnership with Trusona to boost its identity management service offerings. This partnership is aimed to eliminate passwords to provide consumers with more secure authentication services.
In October 2017, Gigya Inc. announced the launch of a new platform, the Gigya Enterprise Preference Manager. The platform is specifically designed to deal with emerging privacy regulations and facilitate organizations in building customer relations.
Consumer Identity and Access Management ( IAM ) Market
By Service Type
- Professional Services
- Managed Services
By Solution
- Advanced Authentication
- Identity Proofing Services
- Data Governance
- Directory Service
- Others
By deployment
By Industry Vertical
- BFSI
- Healthcare
- IT & Telecom
- Retail
- Others
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