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.
“Identity authentication solution is expected to have the largest market share, during the forecast period”
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.
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“Password authentication type is expected to contribute the largest market share in 2017”
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.
“Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period”
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.
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The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall consumer IAM market and the subsegments. This report will help stakeholders understand the competitor landscape and gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities, in the consumer IAM market.
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