PORTLAND, Oregon and PUNE, India, February 8, 2017 /PRNewswire/ --
A new report published by Allied Market Research, titled, "Consumer Identity and Access Management Market by Solution, Service, Deployment Type, and Industry Vertical-Global Opportunity Analysis and Industry Forecast, 2014-2022," forecasts that the global consumer IAM market in 2015 is estimated at $7,968 million growing at 16.9% CAGR to reach $23,589 million in 2022. The advanced authentication solution segment dominated the global consumer identity and access management market, accounting for revenue of $3,770 million in 2015. North America is expected to be the leading contributor to the global consumer identity and access management market.
(Logo: http://photos.prnewswire.com/prnh/20140911/647229 )
Get detailed information visit @: https://www.alliedmarketresearch.com/consumer-iam-market
The adoption of consumer IAM solutions has increased in the recent years, owing to the growing consumer IAM trend of centralized monitoring and stringent government regulations to protect customer data. In addition, rise in incidents of cyber threats and increase in adoption of IoT (Internet of Things) are expected to drive the market. However, lack of standardization in industry regulations and concerns about cloud-based security hamper the market growth. Growing popularity of mobile devices and flexible functionalities of consumer IAM solutions to tackle increased network traffic, burgeoning demand, and peak usage requirements of consumers for different applications are expected to provide numerous opportunities for the growth and development of the global consumer identity and access management market.
The global consumer IAM market in 2015 is comprised of advanced authentication which is $3,770 million, identity proofing services which is $2,473 million, and other which is $1,725 million. In 2015, the banking, financial service, and insurance (BFSI) industry segment accounted for the maximum revenue share in the global consumer identity and access management market segments, owing to the frequent incidents of internet frauds during financial transaction worldwide. In addition, upsurge in customer interaction through physical, social media, mobile, and other channels to access financial services provide huge growth opportunities to the players in the BFSI sector. Moreover, the energy & utility industry segment is projected to grow at a CAGR of 17.2% during the forecast period, owing to technological advancements such as automated meter infrastructure, cloud computing, modern electric meters, real-time data access facility to customers, and others.
"The consumer IAM industry in the Asia-Pacific region is expected to grow at the fastest rate during the forecast period, owing to rise in the number of cyber-attacks and increase in the adoption of cyber security services by small- and medium-sized enterprises. Continuous economic development in countries, such as India, China, Malaysia, and Singapore are expected to provide numerous growth opportunities to the consumer identity and access management industry", states Swapnil Shende, Research Analyst, ICT & Media, Allied Market Research.
North America accounted for the major share of the global market in 2015, and is expected to maintain its dominance during the forecast period, owing to increase in implementation of legal regulatory and cyber laws to improve data protection by government in the region. The Asia-Pacific region is projected to grow at a significant rate during the forecast period, owing to increase in events of cyber-attacks and growth in energy & power sectors thereby fueling the consumer identity and access management industry in the region.
KEY FINDINGS OF CONSUMER IAM MARKET
The key players profiled in the report are Onegini, TransUnion, Ping Identity Corporation, Gigya, Inc., Centrify Corporation, Okta, Inc., Experian PLC, Janrain, Inc., Mitek Systems Inc., Traxion Inc., LexisNexis Risk Solutions Inc., MorphoTrust USA, GB Group, ID Analytics, Aware Inc., and Equifax Inc. Market players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the market. For instance, in December 2016, Experian PLC and Touch Bank, the digital bank of OTP European Financial Group, launched FraudNet, which secures online transactions, including open fake accounts, account takeover, or fraudulent online transactions.
Read more about this research into the Automotive and Transportation market:
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
Rahul Thakur
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Direct: +1-503-894-6022
Toll Free: +1 (800) 792-5285 (U.S. & Canada)
Fax: +1 (855) 550-5975
E-mail: sales@alliedmarketresearch.com
Website: https://www.alliedmarketresearch.com
Share this article