Date: Mar 2023
Consumer Identity and Access Management Market worth USD 50,733.91 million by 2033
The Market Statsville Group (MSG) publishes the new report on the "Consumer Identity and Access Management Market by Type (On-Premises, Software-as-a-Service [SaaS]), by Application, by Organizational Size, By Region – Global Share and Forecast to 2033
According to the Market Statsville Group (MSG), the global consumer identity and access management market size is expected to grow from USD 10396.72 billion in 2022 to USD 50,733.91 million by 2033, at a CAGR of 15.50% from 2023 to 2033.
The consumer identity and access management market consists of sales of consumer identity and access management services by entities (sole traders, organizations, and partnerships). The consumer identity and access management (IAM) offer authentication services and manages customer identities. Consumer IAM solutions save user profile data and allow businesses to deliver a more secure, consistent, and enhanced customer experience. The significant increase in security breaches and cyberattacks is predicted to have an impact on the market growth of the consumer identity and access management (IAM) market. Additionally, the increased desire to provide a seamless customer experience is expected to fuel the market growth of the consumer identity and access management industry. Furthermore, the identity theft and fraud, as well as an increase in financial institutions' investment in IT infrastructure to protect consumer data, are projected to have a significant influence on market growth. Furthermore, the growing trend for smart homes, smart buildings, and widespread use of smart devices and IoT are predicted to create a large demand for consumer identity and access management, as well as propel the consumer identity and access management (IAM) market forward.
Global Consumer Identity and Access Management Market Segmentation
The overall consumer identity and access management market has been segmented into type, organizational size, application, and region.
- By Type (On-Premises, Software-as-a-Service (SaaS))
- By Organizational Size (SMEs, Large Enterprises)
- By Application (BFSI, Government , Hospitality, Retail, Healthcare, IT & Telecom, Media & Entertainment, Others)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Healthcare segment is at the highest CAGR during the forecast period
Healthcare segment is projected to grow at the highest CAGR during the forthcoming period. The healthcare industry is increasingly using cutting-edge technologies to provide patients with better, more intuitive, and tailored treatment and experiences. CIAM solutions assist healthcare businesses in addressing security challenges linked to user credentials while also providing an enhanced patient experience. The absence of patient identity protects patients from several difficulties. Additionally, an increasing number of cyberattacks on PII, Electronic Health Records (EHRs), and PHI is major concern for healthcare organizations. In healthcare, CIAM solutions offer control of digital identities and data sharing choices to patients, with comprehensive preference and consent management. Moreover, these solutions help healthcare organizations comply with stringent HIPAA and PCI DSS compliances. CIAM solutions ensure security, privacy, and compliance while providing unified, frictionless access to patients and partners
The Asia Pacific to account for the highest CAGR during the forecast period
Over the forecast period, the Asia Pacific market is expected to grow rapidly. Due to high appropriation of CIAM solutions in the emerging countries, such as Australia, China, India, Japan and Singapore. Early CIAM adoption, as well as the availability of multiple suppliers offering security and CIAM solutions, are projected to boost regional market growth. Businesses in this region are progressively employing security and vulnerability management solutions to enable data security, prevent cyber-attacks and commercial espionage, and provide data security and privacy for business continuity.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the consumer identity and access management market. It also consists of the profiles of leading companies such as IBM, TRusona, Okta, ID.me, Ping Identity, ForgeRock, IDEMIA, Microsoft, Oracle and Janrain. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.
About Market Statsville Group
Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
MSG has an entire repository of research reports on more than 1,000 niche industries, 3,000 high-growth potentials markets, 5,000 data sets, and more than 12,000 company profiles.
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