Consumer Identity and Access Management Global Market Report 2024

Customer Identity and Access Management is an identification technology that enables businesses to manage customer identities and provide a secure and enhanced experience.

The main types of components in consumer identity and access management (CIAM) are solutions and services. Consumer identity and access management solutions enable customer login, self-service identity management, permission and choice management, single sign-on (SSO), multi-factor authentication (MFA), access management, directory services, and data access governance. The different modes of deployment include cloud, on-premises and are deployed in various organization sizes such as large enterprises SMEs. It is implemented in various verticals such as banking, financial services, and insurance (BFSI), healthcare, IT and telecom, consumer goods and retail, energy and utility, the public sector, and others.

The consumer identity and access management market research report is one of a series of new reports that provides consumer identity and access management market statistics, including consumer identity and access management industry global market size, regional shares, competitors with a consumer identity and access management market share, detailed consumer identity and access management market segments, market trends and opportunities, and any further data you may need to thrive in the consumer identity and access management industry. This consumer identity and access management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The consumer identity and access management market size has grown rapidly in recent years. It will grow from $31.66 billion in 2023 to $37.04 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to personalization and user experience, mobile app proliferation, e-commerce growth, user data security concerns, regulatory compliance.

The consumer identity and access management market size is expected to see rapid growth in the next few years. It will grow to $71.59 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to consent management, identity verification services, expansion of digital services, user-centric identity management, globalization of businesses, gdpr and privacy regulations evolution. Major trends in the forecast period include multi-factor authentication (mfa) adoption, consent management and privacy compliance, progressive profiling for user data collection, identity verification and anti-fraud measures, cloud-based ciam solutions, globalization and localization features.

The increase in usage of internet of things (IoT) devices is expected to propel the growth of consumer identity and access management market in the forecast period. The internet of things (IoT) 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. For instance, according to the TechJury Report, 35 billion IoT devices are projected to be installed across the world by the end of 2021. Therefore, the increase in usage of internet of things (IoT) devices is driving the growth of the consumer identity and access management market.

The growing e-commerce industry is expected to boost the growth of the consumer identity and access management market going forward. E-commerce refers to the buying and selling of goods and services over the Internet or other electronic networks. The demand for CIAM solutions is rising in the e-commerce industry to provide secure user management and authentication, as there is varied user base due to increasing online shopping and digital transactions. For instance, in October 2021, according to a report published by the International Trade Administration, a US-based agency, it is expected that e-commerce for consumer goods would account for about 22% of all retail sales worldwide, growing at an average rate of over 1% by 2024. Retail e-commerce sales also point to a consistent, long-term increase of 8% in all global retail e-commerce sales through 2024. Therefore, the growing e-commerce industry is driving the growth of the consumer identity and access management market.

Major companies operating in the consumer identity and access management market are developing decentralized identity management solutions to meet larger customer bases, more sales, and increase revenue. A decentralized identity management solution is a system that allows individuals to have control over their personal information and digital identity, securely stored and managed on a decentralized blockchain network, reducing the reliance on centralized authorities for identity verification. For instance, in March 2023, Ping Identity Corporation, a US-based software company, launched PingOne Neo, a decentralized identity management solution that adheres to multiple standards. The unique feature of PingOne Neo lies in its ability to enhance data security, privacy, and control for individuals while simultaneously reducing the resource and compliance challenges faced by enterprises. PingOne Neo achieves this by streamlining the process of obtaining verified information from trusted sources through verifiable credentials, irrespective of whether these sources are internal or external to the organization. Moreover, Neo significantly minimizes the risk of identity theft for individuals and enhances the security posture of organizations by swiftly establishing trust with individuals based on their digital credentials.

Major companies operating in the consumer identity and access management market are focusing on launching new products, with multiple features, to gain competitive advantage. For instance, in December 2022 CloudIBN, a US-based cloud infrastructure consulting and deployment company, launched Identity and access management (IAM) solution. The IAM solution empowers businesses to efficiently manage user access control across the entire enterprise, all while ensuring the security of their data. CloudIBN's comprehensive IAM solutions cover various aspects, including user authentication, authorization, single sign-on (SSO), multi-factor authentication (MFA), role-based access control, and audit trails. These identity and access management solutions are customized by CloudIBN's experts, taking into consideration the industry-specific compliance standards. CloudIBN is dedicated to providing comprehensive yet user-friendly solutions that seamlessly integrate with existing operations, minimizing disruption.

In March 2021, Okta, a US-based IT service management company, acquired Auth0 for $6.5 billion in an all-stock transaction. Through this acquisition, Okta has built a strong leadership position in identity and access management (IAM) and customer identity and access (CIAM) sectors. Auth0 is a US-based company that provides customer identity and access (CIAM) services.

Major companies operating in the in the consumer identity and access management market report are International Business Machines Corporation, Microsoft Corporation, Okta Inc., Ping Identity Corporation, ForgeRock Inc., LoginRadius Inc., Janrain Inc., Salesforce. com Inc., Akamai Technologies Inc., Onegini B. V., Centrify Corporation, Mitek Systems Inc., LexisNexis Risk Solutions Group, GB Group plc, Aware Inc., iWelcome B. V., Acuant Inc., RSA Security LLC, Symantec Corporation, NetIQ Corporation, Oracle Corporation, CA Technologies, Dell EMC, Hitachi ID Systems Inc., Intel Corporation, Amazon Web Services Inc., McAfee, CyberArk Software Ltd., Thales Group, Micro Focus International plc, One Identity LLC, SailPoint Technologies Holdings Inc.

North America was the largest region in the consumer identity and access management (CIAM) market in 2023. Europe was the second-largest market in the consumer identity and access management (CIAM) market share. The regions covered in the consumer identity and access management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the consumer identity and access management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The consumer identity and access management market includes revenues earned by entities by offering solutions that allow businesses to collect and maintain customer identity to understand the customer better and tailor the products, services, and individual customer engagements. It offers quick, easy, unified and secure access across digital channels. Customer identity and access management (CIAM) allow businesses to collect and maintain customer identity to understand the customer better and tailor the products, services, and individual customer engagements. It also enables organizations to securely capture & manage profile data and control customer access to services and applications. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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