DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Consumer IAM Market by Solution (Directory, Identity Proofing, Identity Authentication, Identity Analytics, Identity Administration, and Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region - Global Forecast to 2022" report to their offering.
The consumer Identity and Access Management (IAM) market is expected to grow from USD 14.30 billion in 2017 to USD 31.75 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.3%.
The consumer IAM market is driven by factors such as growing concern to manage consumer identity and need for compliance and regulations for identity management. Aggregating consumer data distributed across multiple locations within a business is one of the biggest challenges in the market.
The identity authentication solution is expected to contribute the largest market share in the consumer IAM market, during the forecast period. As identity fraud and theft is one of the biggest cybercrimes in today's world, identity authentication for consumers is of the utmost importance, to verify and validate identities, for a secure and seamless consumer experience.
Password authentication is a traditional and the most widely used authentication type in the consumer IAM market; hence, it is expected to contribute the largest market share in the consumer IAM market in 2017. However, consumers are now looking forward towards advanced authentication methods such as biometrics including facial biometrics and voice recognition, as they offer more secure and robust consumer identity authentication.
APAC is expected to grow at the highest CAGR during the forecast period, in the consumer IAM market. This is mainly due to the high security spending by organizations in major countries such as China, Australia, India, Singapore, and Japan, for consumer identity proofing, authentication and authorization. Furthermore, North America is expected to have the largest market size in 2017, as the region is an early adopter of these security technologies.
- Growing Concerns Related to Management of Consumer Identities
- Rise in Business Digitalization Trends Creating the Need for Centralization of Identities
- Rise in Adoption of Iot and Smart Devices
- Increased Need to Manage Stringent Regulatory Compliance
- Lack of Identity Standards Across Organizations
- Rise in Biometric Authentication for Consumer Identity Management
- Adoption of Cloud-Based Consumer IAM Solutions for Improved Scalability and Security
- Aggregating Consumer Data Distributed Across Multiple Locations Within A Business
- Limitations in Traditional Enterprise IAM Solutions
- Gigya, Inc.
- IBM Corporation
- Janrain, Inc.
- Loginradius, Inc.
- Microsoft Corporation
- Okta, Inc.
- Ping Identity Corporation
For more information about this report visit http://www.researchandmarkets.com/research/w7jmm8/consumer_iam