Consumer IAM Market Size, Share, Growth Analysis, By Component Type(Solutions and Services), By Application(Web and Mobile Applications, IoT and Social Media Applications), By Region - Industry Forecast 2024-2031

Global Consumer IAM Market size was valued at USD 12.85 billion in 2022 and is poised to grow from USD 14.66 billion in 2023 to USD 42.12 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).

The global consumer Identity and Access Management (IAM) market is characterized by a highly competitive landscape with the presence of several key players. IAM solutions are designed to manage and secure digital identities of consumers, enabling seamless and secure access to various online platforms and services. This market has witnessed significant growth in recent years, driven by the increasing adoption of digital technologies, rising concerns about data privacy and security, and the growing demand for personalized and frictionless user experiences. Competition within the global consumer IAM market is intense, as companies strive to offer innovative and comprehensive solutions that address the evolving needs and challenges of managing consumer identities. Key players in the market are focused on developing advanced IAM platforms that provide robust authentication, authorization, and identity management capabilities. These solutions often incorporate features such as single sign-on (SSO), multi-factor authentication (MFA), social login, and self-service password reset, among others. 'IBM (US)', 'Microsoft Corporation (US)', 'Okta, Inc. (US)', 'Ping Identity (US)', 'ForgeRock (US)', 'Salesforce.com, Inc. (US)', 'OneLogin, Inc. (US)', 'Auth0 (US)', 'Akamai Technologies, Inc. (US)', 'SAP SE (Germany)', 'RSA Security LLC (US)', 'Ubisecure (Finland)', 'LoginRadius (Canada)', 'Janrain (US)', 'Capgemini SE (France)', 'Wipro Limited (India)', 'Pirean Limited (UK)', 'iWelcome (Netherlands)', 'Amazon Web Services, Inc. (US)', 'SecureAuth Corporation (US)'

Organizations are placing greater emphasis on delivering personalized and tailored user experiences in order to enhance customer engagement and satisfaction. Consumer IAM solutions play a vital role in this endeavor by enabling businesses to collect and utilize user identity data to offer personalized services, recommendations, and targeted marketing campaigns. This growing demand for personalized experiences is a key driver of the adoption of Consumer IAM solutions in various industries.

Need to Strengthen Security in Banks: Banks and other financial institutions operating in the BFSI sector face mounting pressure to strengthen their security measures, particularly in light of the numerous notable data breaches that have occurred in recent years. These institutions are entrusted with storing highly valuable data, and as they undergo digital transformation, the risk of cyber attackers gaining unauthorized access to this data increases. The heightened scrutiny on the industry emphasizes the need for robust security protocols to safeguard sensitive information and protect against potential cyber threats.

In terms of dominance, North America has emerged as the leading region in the global consumer IAM market. The region's dominance can be attributed to several factors. First, North America has a mature and advanced digital infrastructure, which has facilitated the widespread adoption of digital services across various industries. The region is home to numerous large enterprises that have recognized the importance of robust identity and access management solutions to protect user data and ensure regulatory compliance.