The global consumer identity and access management market is prognosticated to witness a strong growth during the forecast period 2017 – 2025 owing to alarming increase in cyber-attack and breach of cyber security all across the world. Increasing number of hackers have posed to be serious threat to the rapid adoption of digitization all across the world, notices Market Research Reports.biz. In a report titled, “Consumer IAM Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”, the analysts of the report have provided a 360 degree overview of the market, which aids readers to understand the complicacies in the market. The report also includes crucial factors such as trends, drivers, restraints, and opportunities which are likely to have an impact on the market. The report offers company profiles of the key players in the market.
Surge in digitalization process in most of the sector such as banking and financial sector, education sector, and healthcare sector have compelled them to adopt digital data backing system, these have increased the uptake of identity and access management solutions. Heavy flow of investment in telecommunication sector by private and public bodies along with increasing penetration of internet is predicted to accelerate the market growth. Increasing youth population who mostly rely on digital transactions are prognosticated to support the market. Apart from these, increase in number of digital transactions leads to higher possibility of cybercrime, this factor is anticipated to push the market in the forward direction. Surge in adoption of IoT technology and smart devices are likely to foster market growth. On-trend of smart buildings and smart home are anticipated to create lucrative opportunity to the players in the market.
The global consumer identity and access management market is classified on the basis of solution authentication type, end use industries, and region. On the basis of solution the market is segregated into identity analytics, authorization, identity administration, identity authentication, identity proofing, identity administration, identity proofing, and directory. Of these identity analytics solution is foreseen to hold the leading position owing to recurrent cases of identity thefts. On the basis of authentication type, the market is split into password and biometric based consumer IAM system. On the basis of end use industries, the market is divided into banking and financial organization, education, government organizations, healthcare and others. Of these telecommunication is prognosticated to grow at a stellar rate.
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On the basis of region, North America hold the leads the leading position due to impressive utilization of digital data in financial, banking, and healthcare system. Rapid adoption of latest technology is likely to support the market in the region. However, Asia Pacific is expected become fastest growing market due to rapid industrialization. Some of the major players in the market are Janrain Inc, Ping Identity Corporation, IBM Corporation, Microsoft Corporation, and iWelcome.