An identity access management system can be defined as a framework for business processes that manages electronic identities. This framework includes the technology and policies needed to support identity management. Identity access management (IAM) technology initiates, captures, records and manages consumer identities and their associated access permissions. This ensures that all individuals and services are properly authorized, authenticated, and audited and access is granted according to one’s interpretation of policy. Organizations are required to maintain the flow of business data and simultaneously manage its access. With more services and devices to be managed than ever before with requirements for associated access privileges, has led to the need for effective identity and access management systems. In the long term, consumers would want to take more control of identity and reveal only those things to the service provider that are relevant to the service provider they work with. Consumers would want to do it with better security and without exposing private information.
In recent years, legacy approaches to IAM such as Identity Manager or Active Directory are failing organizations as these products cannot manage consumer access. Organizations feel that without a plan for a consumer centric approach to IAM, factors such as unsafe password management, unfettered use of Dropbox, shadow IT etc. are challenging IT. Modern businesses want to leverage the power of personal data, simultaneously protecting it, particularly when the data resides across different systems. Almost every company has an IAM solution for their employees. However, these solutions are often inadequate for managing consumer identities. Employee IAM solution lacks the features which balance the convenience and security of a great consumer experience. Consumer identity access management (CIAM) solutions manage end-to-end data security in the organization to keep valuable consumer information safe from attack.
Organizations are unsure of their ability to safeguard their consumer data due to increased frequency and scale of data breaches. CIAM solutions offer security right from authentication to reduce the risk of losing reputation, revenue, and most importantly consumer trust which is driving the consumer identity access management market. Moreover, CIAM solutions enables unified customer profiles and simplified access so that the customer can obtain a seamless experience which is also driving the consumer identity access management market. On the other hand, applications accessed by consumers are also accessed by employees for various reasons. Every application accessed by customers is used by employees which poses a question on the need for separate CIAM solutions which is restraining the growth of consumer identity access management. As applications, websites, services, and customers continue to grow, the data collected on each customer is also increasing. In addition, many vertical markets and customer facing industries experience extreme peak in the data collected due to seasonality or other reasons which is creating opportunities for the growth of the consumer identity access management market. Moreover, growing usage of cloud computing in deploying CIAM solutions is also creating growth opportunity for the CIAM solution market.
The global consumer identity access management market is segmented on the basis of component, deployment mode, end use, and region. In terms of component, the market can be segmented into solutions and services. The solution segment can be classified on the basis of advanced authentication and identity proofing services. The services segment is further sub-segmented into professional services and managed services. The market is classified in terms of deployment mode into cloud and on-premises. On the basis of end use, the market is classified into banking, financial services & insurance, energy and utilities, healthcare, retail, IT and telecom, and others (manufacturing and government). The market is segmented in terms of geographical regions into North America, Asia Pacific, Middle East & Africa (MEA), South America, and Europe.
Industry participants dominating the consumer identity access management market with significant developments are Centrify Corporation, Okta, Inc., Onegini, TransUnion, Ping Identity, Traxion Inc., GB Group PLC, Experian PLC, Janrain, and Mitek Systems Inc., among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.