Consumer Identity and Access Management Industry Is Forecasted To Grow At Rate Of Over 18% With Increasing Use Of IoT
Consumer Identity And Access Management Global Market Report 2021: COVID-19 Implications And Growth
The Business Research Company’s Consumer Identity and Access Management Global Market Report 2021 – COVID-19 Implication And Growth
LONDON, GREATER LONDON, UK, September 2, 2021 /EINPresswire.com/ — The increasing usage of internet of things (IoT) devices is expected to propel the growth of the consumer identity & access management (CIAM) market in the forecast period. The internet of things is a system of interrelated, internet-connected objects which can collect and transfer data over a wireless network without human intervention. IoT poses new security and privacy risks, possibly jeopardizing customer trust and the value of these new technologies. As a result, IoT organizations are adopting CIAM since it plays a critical role in ensuring user identity security. According to the TechJury Report, 35 billion IoT devices are projected to be installed across the world by the end of 2021.
The global consumer identity and access management market size is expected to grow from $19.41 billion in 2020 to $23.00 billion in 2021 at a compound annual growth rate (CAGR) of 18.5%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The CIAM market is expected to reach $45.56 billion in 2025 at a CAGR of 18.6%.
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The major players covered in the global CIAM market are IBM, Microsoft, Okta, Ping Identity Corporation, ForgeRock, LoginRadius, Janrain Inc., Salesforce, SAP, Akamai Technologies, Onegini, Centrify Corporation, Mitek Systems Inc., LexisNexis Risk Solutions, GB Group Plc, Aware Inc., iWelcome, and Acuant Inc.
North America was the largest region in the global customer identity access management (CIAM) market in 2020. Europe was the second-largest market in the consumer identity and access management market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The global consumer identity and access management market is segmented by component into solutions, services, by deployment mode into cloud, on-premises, by organisation size into large enterprises, SMEs, and by vertical into banking, financial services, and insurance (BFSI), healthcare, IT and telecom, consumer goods and retail, energy and utility, public sector, others.
Consumer Identity and Access Management Global Market Report 2021 – By Component (Solutions, Services), By Deployment Mode (Cloud, On-Premises ), By Organisation Size (Large Enterprises, SMEs), By Vertical (Banking, Financial Services, And Insurance (BFSI), Healthcare, IT And Telecom, Consumer Goods And Retail, Energy And Utility, Public Sector), COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides consumer identity and access management market overview, forecast consumer identity and access management market size and growth for the whole market, consumer identity and access management market segments, and geographies, consumer identity and access management market trends, consumer identity and access management market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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September 02, 2021, 10:59 GMT
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