Consumer services

Consumer Identity Access Management Market 2021 – Latest Detailed Analysis Report

SAN FRANCISCO, California, USA, September 28, 2021 / – Across the world, the continued digitization of businesses has spurred the need for consumer identity access management (IAM) technologies. These are crucial authentication and authorization technologies to deliver a unified and seamless customer experience. Consumer Identity Access Management capabilities consist of various processes related to registering and authenticating customers, managing their identities, and collecting customer data for personalized marketing. Consumer IAM technology fundamentally includes user registration, social login, and user profile management.

Companies across different industries are increasingly adopting consumer IAM services to connect their customers to internal and third-party applications and collect a wealth of demographic and psychographic information.

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Global Consumer Identity Access Management (IAM) Market: Key Trends

Growing concerns about how to properly manage customer identities in rapidly expanding digital business processes underpin the need for consumer IAM technologies. The imperative to provide a secure and rich customer experience across multiple commercial offerings and multiple channels has propelled the demand for consumer IAM services. The increasing use of consumer IAM in collecting accurate first party data for the purpose of formulating brand engagement strategies is a crucial factor in driving the market.

Various consumer IAM services have enabled businesses to synchronize customer profile data with their email marketing system, web analytics, e-commerce, and various other marketing technologies. The trend of personalized offerings is expected to give a solid boost to the growth of the consumer IAM market during the forecast period.

Global Consumer Identity Access Management (IAM) Market: Market Potential

The advent of advanced authentication methods such as biometrics and voice recognition software has further expanded the market potential. The advent of comprehensive identity platforms for the Internet of Things (IoT), including industrial IoT (IIoT) and cloud-based technologies, is expected to expand the market potential in the coming years .

ForgeRock, a leading multinational provider of identity and access management solutions, based in the United States, announced in April 2017 a new version of its integrated consumer IAM platform for IoT — ForgeRock Identity Platform 5.0. The recently released platform is specially designed for businesses keen to harness the potential of IoT and various connected devices such as industrial machines, autonomous vehicles, smart homes and portable devices.

Over the past few years, various global brands have used the ForgeRock IAM platform to create a unified view of customers and support their omnichannel business strategies. Since 2013, the IAM solution developed by the company has extended beyond human identity to include digital devices and services. The latest release features several key developments including IIoT and operational technology implementations where tens of thousands of identities need to be managed.

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ForgeRock’s unique design solution scales IoT scale and will take consumer IAM offerings to the next level. The solution will potentially help its customers significantly expand their customer base across a wide range of industries such as financial services, retail, telecommunications and media, automotive and healthcare.

Global Consumer Identity Access Management (IAM) Market: Regional Perspectives

Geographically, North America and Europe are important markets for consumer IAM solutions. The adoption of consumer IAM technologies in these regions is being driven by the implementation of stricter regulations regarding the security of consumer information. One of them is the General Data Protection Regulation (GDPR) in the EU. A large number of organizations, especially SMBs, are adopting advanced consumer IAM services to gain a significant advantage over others. The Asia-Pacific consumer IAM solutions market is expected to grow at a rapid pace during the forecast period. The substantial demand is mainly attributed to the increase in IT spending by businesses in large economies such as Australia, China, India, Japan and Singapore.

Global Consumer Identity Access Management (IAM) Market: Competitive Analysis

Publishers in the consumer IAM market wish to offer innovative solutions and disruptive technologies to consolidate their market shares in major regions. These solutions help customers meet their various security needs. The launch of disruptive technologies is expected to increase competition in the market. Many companies prefer to outsource IAM functions to provide a better customer experience. The main players vying for a sustained share of the consumer IAM market are IBM Corporation, Microsoft, Janrain, Okta, Inc., Ubisecure, ForgeRock, Ping Identity Corporation, Gigya, Inc. and LoginRadius Inc.

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The 5-point growth formula developed by TMR Research gives stakeholders and CXOs insight into the current market situation. The growth formula makes the report an ideal companion for stakeholders and CXOs.

The 5 point growth formula includes the following points:

• Current and future threats
• Precise trend analysis
• Regional assessment
• Industrial analogy
• Impact of COVID-19

The reports offer answers to the 7 main questions that revolve around the growth of the market

• What are the various growth parameters influencing the market?
• Which regions will largely contribute to the growth of the market?
• What are the recent technological innovations and advances on the market?
• What are the emerging trends in the market?
• How has COVID-19 affected the market?
• What will be the post-pandemic market scenario?
• What are the main threats to the growth prospects of the market?

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