DELRAY BEACH, Fla., Sept. 24, 2024 /PRNewswire/ — When forecasted globally, the Consumer IAM Market is projected to rise from USD 12.5 billion in 2024 to USD 21.0 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period, according to a new report by MarketsandMarkets™. An increasing significance of strict regulatory compliance has driven the CIAM adoption rapidly. Apart from this, a high volume of online transactions requiring secure user access management is further driving significant expansion in the Consumer IAM Market.
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693 – Tables
67 – Figures
453 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2030
Base year considered
2023
Forecast period
2024–2030
Forecast units
Value (USD Billion)
Segments Covered
Offering, Solution, Services, Authentication Type, Deployment Mode, Organization Size, Vertical, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered
Major vendors in the global Consumer IAM Market are IBM (US), Okta (US), SAP (Germany), Microsoft (US), Ping Identity (US), Thales (France), Broadcom (US), AWS (US), Salesforce (US), OpenText (US), Akamai Technology (US), Deloitte (UK), HID Global (US), CyberArk (US), Nevis Security (Switzerland), Simeio Solutions (US), Ubisecure (Finland), OneLogin (US), SecureAuth (US), LoginRadius (Canada), IDology (US), Omada Identity (Denmark), WSO2 (US), WidasConcepts (Germany), FusionAuth (US), Transmit Security (Israel), IDnow (Germany), miniOrange (US), and Strivacity (US).
Rising online transactions, the transition from traditional IAM to CIAM, and the growing popularity of cloud services create substantial prospects within the Consumer IAM Market. Also, the incorporation of lot devices, sophisticated analytics and Al, and the implementation of Zero Trust security frameworks are improving both security measures and user satisfaction. In addition to this, the ongoing market opportunities for the Consumer IAM Market are created by regulatory adherence and the emergence of decentralized identity solutions.
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Based on the services, integration, and deployment to account for the largest market size during the forecast period.
When segmenting the Consumer IAM Market by services, the integration and deployment services acquire the largest market size for several compelling reasons. The CIAM solution, while being implemented in an organization, often poses difficult integration challenges with the existing IT infrastructure, applications, and databases. These integration and deployment services ensure that such solutions are seamlessly integrated into the business environment to provide interoperability and enhanced security. This segment is further driven by the fact that the demand for expert assistance in customizing a CIAM solution remains so that it best fits organizational needs. Besides, with the increasing adoption of cloud-based CIAM solutions comes a greater requirement for professional deployment services that ensure smooth transitions and optimum performance of the solution implemented. Such services provide faster time-to-value, reduced implementation risks, and compliance with regulatory requirements, hence becoming essential in the Consumer IAM Market.
By vertical, healthcare accounts for the highest CAGR during the forecast period.
The Consumer IAM Market is growing at the highest CAGR in the healthcare sector, and there are many factors contributing to this. Increasing digitalization in the healthcare services sector, along with the need for high security in managing patients’ data, generates high demand for robust CIAM solutions. Apart from this, healthcare institutions have to deal with a high number of sensitive data regarding patients, and because of it, they are prone to cyber threats, which in turn increases the demand for advanced security solutions like CIAM. Moreover, regulations like HIPAA in the US are imposing stringent security on patient information, thus raising the adoption rate of CIAM solutions. Further, the increasing adoption of telemedicine and other online health services is another driver for secure access management for patients and healthcare providers, thereby ensuring the confidentiality and integrity of healthcare data.
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By region, North America accounts for the largest market size.
It is estimated that North America holds the largest market size in the Consumer IAM Market; the reason is attributed to its highly advanced technology infrastructure, coupled with the presence of influential economies like the US and Canada. Increasing demand for cloud-based services—fueled by companies expanding their online presence—has increased security threats and increased the need for organizations to implement CIAM solutions, which assure the protection of digital identities. Moreover, the region has witnessed the effect of numerous data breaches, with 422 million people exposed in a year; this demands robust identity management.
To governments in North America, cybersecurity is regarded as one of the prime national security challenges for which budgets and policies have been marked to ultimately make identity management a priority. Some of the Initiatives such as the 2021 executive order by the US president on cybersecurity support the adoption of CIAM solutions. Moreover, the heavy use of smart mobile devices and the exponentially growing eCommerce industry further support market growth in the region.
Top Key Companies in Consumer IAM Market:
IBM (US), Okta (US), SAP (Germany), Microsoft (US), Ping Identity (US), Thales (France), Broadcom (US), AWS (US), Salesforce (US), OpenText (US), Akamai Technology (US), Deloitte (UK), HID Global (US), CyberArk (US), Nevis Security (Switzerland), Simeio Solutions (US), Ubisecure (Finland), OneLogin (US), SecureAuth (US), LoginRadius (Canada), IDology (US), Omada Identity (Denmark), WSO2 (US), WidasConcepts (Germany), FusionAuth (US), Transmit Security (Israel), IDnow (Germany), miniOrange (US), and Strivacity (US) has context menuare the key players and other players in the Consumer IAM Market.
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