The CIAM Industry Is Projected to Reach $15.3 Billion in a 5-Year Span at a 15.1% CAGR

The consumer identity and access management technology market (CIAM) has greatly benefited from growing investments and venture capital funding in 2020, making it one of the most lucrative investment opportunities. The identity verification and authorization segment, in particular, is expected to hold the highest growth rate for the forecast period, as it expands throughout Asia-Pacific, North and South America, and Europe.

CIAM in Asia-Pacific

The highest CAGR in the global consumer identity and access management market is in Asia-Pacific, which includes major economies such as China, Japan, Australia, and India. The region has dynamically adopted new technologies and is expected to register high growth rates, particularly in China, the fastest expanding country in the region. It’s estimated that India will have 50 billion digital identities in three years, as local companies accelerate their adoption of cloud technologies and increase their demand for CIAM.

CIAM in North America

North America held a prominent share of the global consumer identity and access management market in 2019 and is expected to hold the largest one, $120 million, in 2020.

CIAM in Europe

Financial information is among the most sensitive data cyber-thieves try to gather. This is particularly important for economies with large financial and banking sectors, such as Germany, the UK, and Switzerland. For these countries, consumer identity and access management is paramount. With identity at the center of online services, banks understand that customer-friendly IAM is crucial for protecting highly sensitive customer data and ensuring seamless experiences.

CIAM in Latin America

Finally, Latin America is a region that has seen significant growth in the consumer identity and access management sector due to the increasing connectivity in personal, urban, and corporate environments, and the adoption of big data, cloud computing, and IoT solutions.

The Next Five Years

The growth of online transactions and, consequently, of cyber threats creates a strong demand for the identity and access management market across the world.

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