Consumer Identity and Access Management Market Booms with 16.7% CAGR, Forecast to Reach USD 43.55 Billion by 2034 | PMR

New York, USA, Nov. 28, 2024 (GLOBE NEWSWIRE) -- Market Overview:

The global consumer identity and access management (CIAM) market size was USD 9.33 billion in 2024, estimated at USD 10.86 billion in 2025, and is expected to reach around USD 43.55 billion by 2034, expanding at a CAGR of 16.7% from 2025 to 2034.

What is Consumer Identity and Access Management (CIAM)?

CIAM indicates to technologies that sanction firms to digitally engross with their customers permitting users to sign up, sign in and acquire consumer applications, web portals, or digital services provided by a firm. CIAM is the digital recognition layer that is appended to customer encountering applications that entitle users to handle inclinations and privacy settings. Each juncture of a consumer’s interplay with a firm needs varied participation and tradeoffs. For instance, the capacity for the user to sign up and sign in has to be seamless and effortless. But it also has to be safe so as to structure and sustain consumer belief.

Key Takeaways from the Report:

• The market is expected to exhibit a CAGR of 16.7%.
• The market for consumer identity and access management (CIAM) is expanding due to them sanctioning firms to regulate consumer entry to applications and services while improving user experience.
• The consumer identity and access management (CIAM) market analysis are primarily based on components, deployment, authentication method, industry verticals, and region.
• Based on components, the solution segment dominated the market.
• North America dominated the market with the largest share and is anticipated to continue its dominance during the forecast period.

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Consumer Identity and Access Management Market Dynamics:

Growth Drivers:

Progression in AI and ML: The consumer identity and access management (CIAM) market size is expanding due to progressions in AI and ML. AI and ML have the potential to scrutinize massive quantities of data to locate motifs and recognize inconsistencies in user bearing. This assists in real-time threat inspection and fraud prohibition, causing robust safety estimates in CIAM systems, which allure enterprises that distribute susceptible industries and particulars.

Growing Cases of Cyber Attacks: The growing cases of cyber-attacks are expected to augment the global market. There were approximately 236.1 million encryption ambushes worldwide in the first half of 2022. Firms are identifying the requirement for strong safety estimates as cyberattacks are becoming more often and worldly. This inspires firms to acquire more granular ingress regulations to lessen the probability of unwarranted access.

Trends and Opportunities:

Growing Digitalization of Businesses: The escalating digitalization of businesses is predicted to push the market. Businesses are required to handle an extensive proportion of customer specifications as they move their functions online. CIAM solutions assist these businesses by smoothening user enrolment, verification, and access regulation covering several digital platforms which suggests that the consumer identity and access management (CIAM) market demand is expanding.

Growing Approval of Online Transactions: The market is propelled by growing approval of online transactions. India reckoned for 89.5 million online transactions and 46% of worldwide real-time disbursements in 2022. The worries about swindling and data violation rise with the surge of online transactions.

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Competitive Analysis:

Prominent market contenders are funding massively in research and development so as to augment their contribution which will assist the market to grow even more. Market contenders are also taking an assortment of tactical ventures to augment their global footprint with crucial market advancements such as inventive instigation and international associations.

Major players operating in the consumer identity and access management market are:

• IBM
• Microsoft
• Salesforce
• SAP SE
• Okta
• Akamai Technologies
• Ping Identity
• ForgeRock
• LoginRadius
• Broadcom
• HID Global
• OneLogin, Inc.

CIAM Market Regional Insights:

North America: North America witnessed the highest revenue share in the market because of a progressive technology framework and a robust concentration on cyber security. The region's progressive digital topography inspires businesses to fund extensive identity-handling solutions to safeguard susceptible consumer data and conform to strict administrative needs.

Asia Pacific: Speedy digital alteration covering several industries in nations such as India and China is expected to drive the Asia Pacific consumer identity and access management (CIAM) market with the highest CAGR during the forecast period.

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Consumer Identity and Access Management Market Segmentation:

By Component Outlook:

• Solution
  • Identity Governance
  • Identity Analytics
  • Identity Administration and Authentication
  • Identity Proofing Services
• Services
  • Professional Services
  • Managed Services

By Deployment Outlook

• On-Premises
• Cloud

By Authentication Outlook

• Single Sign-On (SSO)
• Passwordless Authentication
• Others

By Industry Verticals Outlook

• BFSI
• Hospitality & Travel
• Healthcare
• Retail & E-Commerce
• Education
• Government & Public Sector
• Others

By Regional Outlook

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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