Consumer Identity and Access Management Market Size, Industry Growth, Share, Opportunities, Emerging Technologies
The global Consumer Identity and Access Management Market size is projected to grow from USD 8.6 billion in 2023 to USD 18.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period. The expansion of the CIAM market is being propelled by a rise in security breaches and cyber-attacks and the demand to deliver a frictionless customer experience.
Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=87038588
Government regulations and the imperative for compliance have also played a significant role in driving the adoption of CIAM solutions and services as businesses strive to meet security requirements and protect sensitive data. Additionally, megatrends like artificial intelligence and blockchain into identity are emerging in the CIAM market to better identify authorized users for networked systems. Together, these factors form a powerful force behind the growth and advancement of the CIAM market.
What is CIAM?
Consumer IAM (CIAM) is a software solution based on a security framework designed to manage and protect digital identities, sensitive credentials, and consumers' accounts from unauthorized access. CIAM solutions are designed for the use of consumers and can be scaled to manage millions of identities. Additionally, they assist organizations in collecting, storing, and analyzing consumer data, which can be used to create sales opportunities and brand loyalty.
Competitive overview:
The CIAM market is led by some of the globally established players, such as Microsoft (US), IBM (US), Salesforce (US), Ping Identity (US), Akamai Technologies (US), SAP (Germany), Broadcom (US), Okta (US), ForgeRock (US). Partnerships, agreements, collaborations, product developments and acquisitions, are some of the various growth strategies by these players to increase their market presence.
IBM is a multinational computer technology and consulting corporation. It operates through five business segments: Cognitive Solutions, Global Business Services, Technology Services, Global Financing and Cloud Platforms, Systems. The company provides many authentication options and is equipped with multiprotocol federation capabilities. It also offers robust user authentication, which helps protect user identities from web security threats. IBM offers IBM Security Verify. The modular IBM Security Verify solution provides deep, AI-powered context for both consumer and workforce identity and access management (IAM). With a low-friction, cloud-native, software-as-a-service (SaaS) strategy that utilizes the cloud, it helps secure users and apps inside and outside the organization. IBM also provides professional and managed services in CIAM with Consumer IAM Security Services. It uses risk-adaptive methods to reassure known users of their identity using multifactor authentication (MFA) or passwordless logins such as social login.
Microsoft is one of the key developers and manufacturers of personal computers, computer software, consumer electronics, and services. It also provides these offerings and other managed and professional services. The company operates through three major business segments: Intelligent Cloud, Personal Computing, Productivity and Business Processes.
Azure Active Directory B2C is Microsoft's cloud CIAM solution that helps organizations connect with their customers reliably and cost-effectively. The company caters to cloud customers through its DC network, which offers more than 70 compliance offerings in the cloud and has a global presence in 54 Azure locations. It also provides smooth integration with Microsoft applications. Microsoft also offers an Entra product portfolio. It includes Microsoft Entra Permissions Management, Microsoft Entra Identity Governance, Microsoft Entra Workload Identities, and Microsoft Entra Verified ID. These solutions protect every identity across all environments, including partners, customers, workers, and apps.
Get More Info : https://www.prnewswire.com/news-releases/consumer-iam-market-worth-18-1-billion-by-2028---exclusive-report-by-marketsandmarkets-301894412.html
SAP is one of the leading providers of enterprise application software to global organizations. The company also provides analytics and business intelligence solutions. In the CIAM market, it offers SAP Customer Identity and Access Management for B2C. SAP acquired Gigya, a leading CIAM solutions provider, and strengthened its portfolio in the CIAM market. SAP Customer Identity and Access Management for B2C help seamlessly onboard customers and boost ROI by fueling personalization capabilities with first-party, permission-based data. It also protects against account take-over attacks by providing passwordless authentication options and adapting experiences using AI-driven, risk-based authentication. The solutions also help build rich customer profiles from permission-based customer data and orchestrate them across every application and service in the organization's technology stack. SAP caters its solutions to various industry verticals, including government, BFSI, retail and eCommerce, education, manufacturing, media and entertainment, publishing, and travel and leisure. The company includes the world's leading enterprises across North America, Europe, APAC, MEA, and Latin America.
According to MnM’s approach to evaluating the market, most businesses use various organic and inorganic growth tactics to hold onto their market share. In 2020–2022, transactions rose by 50–60%. Alliances, acquisitions, collaborations, and partnerships together are covered in these agreements. Organizations are anticipated to embrace organic growth strategies starting in 2022 to provide end consumers with CIAM solutions and services, which would assist businesses in boosting market revenue
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]