Consumer Identity and Access Management IAM Market
Global Consumer Identity and Access Management (IAM) Market Size By Deployment Model, By End-User, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Consumer Identity and Access Management (IAM) Market Size By Deployment Model, By End-User, By Geographic Scope And Forecast
Consumer Identity and Access Management (IAM) Market Size And Forecast
Consumer Identity and Access Management (IAM) Market size was valued at USD 15.9 Billion in 2023 and is projected to reach USD 8.9 Billion by 2030, growing at a CAGR of 8.5% during the forecast period 2024-2030.
Global Consumer Identity and Access Management (IAM) Market Drivers
The market drivers for the Consumer Identity and Access Management (IAM) Market can be influenced by various factors. These may include
Growing Apprehensions Regarding Data Security and Privacy Robust Identity and Access Management (IAM) solutions are in high demand to safeguard sensitive user data due to growing consumer and company concerns about data privacy and security.
Growing Numbers of Cybersecurity Attacks The increasing prevalence and complexity of cyber risks, including as identity theft and unauthorised access, highlight the necessity of implementing efficient Identity and Access Management (IAM) systems to protect customer data.
Strict Standards for Regulatory Compliance The market for consumer IAM solutions is being driven by regulatory frameworks and data protection legislation, such as the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR), which require organisations to install robust identity and access management (IAM) safeguards.
Growth of Internet-Based Services and ApplicationsIAM solutions are more in demand as e-commerce, digital applications, and online services expand because they simplify access, manage user identities, and improve user experience overall.
Cloud computing and mobile technology adoption Flexible identity and access management (IAM) solutions that enable secure access across a variety of platforms and devices are becoming increasingly necessary due to the growing adoption of cloud services and mobile technology.
A move in favour of Bring Your Own Device (BYOD) guidelines IAM solutions that guarantee secure and controlled access to corporate resources are necessary in light of the growing trend of remote work and the implementation of BYOD rules in workplaces.
Pay attention to personalisation and the customer experience Businesses place a high priority on providing customers with smooth, customised experiences. IAM solutions are essential for providing secure access and letting users customise and personalise their experience.
The Internet of Things’ (IoT) emergence Consumer IAM solutions are growing as a result of the proliferation of Internet of Things devices and the requirement to manage identities and access rights for these linked devices.
Initiatives for Digital Transformation The market for consumer IAM technology is driven by organisations that are undertaking digital transformation efforts and are looking for IAM solutions to safeguard and modernise their digital infrastructure.
Need for Convenient Access and Single Sign-On (SSO) One of the main drivers of the adoption of SSO solutions, which are an essential part of consumer IAM, is the growing desire for streamlined user experiences and easy access to numerous applications.
Global Consumer Identity and Access Management (IAM) Market Restraints
Several factors can act as restraints or challenges for the Consumer Identity and Access Management (IAM) Market. These may include
Complex Procedures for Implementation Some organisations may find themselves constrained by the complexity and difficulty of implementing consumer IAM solutions, which might demand a large investment of time and money.
Challenges in Integrating Legacy Systems Since many organisations still use legacy systems, it can be difficult and time-consuming to integrate new consumer IAM solutions with the infrastructure that already exists.
Privacy concerns with users Since consumer IAM handles sensitive user data, privacy and data protection concerns could cause customers to object and regulatory bodies to become more watchful.
High Maintenance and Implementation Costs Budget-constrained organisations may find it difficult to establish and maintain robust consumer IAM systems due to the high costs of hardware, software licences, and continuing support.
Absence of Standardisation Standardised protocols and frameworks are needed for consumer IAM, as their lack might lead to interoperability problems and impede smooth integration with different services and applications.
Challenges with Adoption and User Resistance Successful implementation of IAM solutions may be hampered by users’ resistance to new IAM processes, particularly if they feel onerous or if the advantages are not well understood.
The risks of fraud and identity theft Identity theft and fraudulent activity are always a possibility, even with IAM protections in place. The general level of trust that users and organisations have in IAM systems may be impacted by this issue.
Regulatory Compliance Weight Although rules are what drive the development of consumer identity management (IAM), organisations, especially those that operate in many jurisdictions, may find it difficult to comply with a multitude of constantly changing regulations.
Problems with Scalability Scalability becomes a crucial factor as user bases and organisations increase. Scalable consumer IAM solutions are necessary to manage growing user and transaction volumes.
Global Consumer Identity and Access Management (IAM) Market Segmentation Analysis
The Global Consumer Identity and Access Management (IAM) Market is Segmented on the basis of Deployment Model, End-User,Geography
By Deployment Model
Cloud-based Consumer IAM Describes IAM solutions that are accessible and scalable, hosted on cloud infrastructure.
Consumer IAM on-premisesIAM solutions that are set up and maintained in the data centres of an organisation.
By End-User
SMEs, or small and medium-sized businesses IAM consumer solutions designed to meet the demands of resource-constrained smaller enterprises.
Big BusinessesIAM solutions that are all-inclusive and made to satisfy the intricate needs of big businesses.
By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Key Players
The major players in the Consumer Identity and Access Management (IAM) Market are
Okta, Inc.
Microsoft Corporation
Ping Identity Corporation
ForgeRock
BM Corporation
Akamai Technologies, Inc.
Salesforce.com, Inc. (LoginRadius)
Janrain (Acquired by Akamai)
Auth0, Inc. (Acquired by Okta)
OneLogin, Inc.
SailPoint Technologies Holdings, Inc.
Micro Focus International plc (NetIQ)
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Okta, Inc.
Microsoft Corporation
Ping Identity Corporation
ForgeRock
BM Corporation
SEGMENTS COVERED
Deployment Model, End-User,Geography
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