The Asia Pacific Consumer IAM Market would witness market growth of 16.8% CAGR during the forecast period (2021-2027).
Consumer identity and access management solutions are in high demand due to the growing deployment of IoT and smart devices in companies. The surge in the volume of mobile devices in businesses has caused problems with data management in multiple systems, raising the risk of cybercrime. As a result, corporations have begun to use strong authentication security solutions in order to secure consumers' sensitive data. However, in the forecasted period, the lack of identity standards, budgetary constraints in deploying CIAM solutions, and a shortage of skilled cyber security professionals between many enterprises are expected to act as major restraints on the growth of consumer identity and access management (IAM), while the difficulties in addressing the advanced threats may pose a challenge to the consumer identity and access management (IAM) market.
India has seen significant changes in the last decade, and this decade is likely to see further urbanization and digitalization as a result of increased technology proliferation. The country boasts a burgeoning landscape, with several start-ups and new enterprises and organizations springing up. As a result, India is a highly profitable market for CIAM products and services. In India, cloud-based systems are becoming increasingly popular, necessitating the development of more sophisticated consumer identification solutions.
The China market dominated the Asia Pacific Consumer IAM Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,706.1 million by 2027. The Japan market is poised to grow at a CAGR of 16.1% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 17.5% during (2021 - 2027).
Based on component, the market is segmented into Solution (Identity Verification & Authentication, Access Management & Authorization, Behaviour Analytics, and Others) and Services. Based on Deployment Type, the market is segmented into cloud and on premises. Based on enterprise size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on end user, the market is segmented into BFSI, Public Sector & Utilities, IT & Telecom, Healthcare, Transportation & Logistics, Retail & e-commerce, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Consumer IAM Market is Projected to reach USD 19 Billion by 2027, at a CAGR of 15%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Okta, Inc., Ping Identity Holding Corp. (Vista Equity Partners), ForgeRock, Inc., LoginRadius, Inc., IBM Corporation, Salesforce.com, Inc., Microsoft Corporation, SAP SE, Broadcom, Inc., and Akamai Technologies, Inc.
By Component
By Deployment Type
By Enterprise Size
By End User
By Country
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