Rising Concerns about Data Security and Increasing Data Breaches are propelling the Consumer IAM Market

Consumer Identity and Access Management (IAM) market is anticipated to grow at a significant CAGR of 18.6% during the forecast period (2025-2031). The market growth is driven by the growing awareness regarding an organization's security, privacy, compliance posture, increasing compliance mandates and regulations, and growing demand from end-user industries, such as BFSI, and IT & Telecom, among others. Additionally, the growing adoption of consumer IAM in different regions is contributing to the market growth. The rapid increase in security breaches and cyber-attacks is propelling the market during the forecast period. However, the lack of awareness about consumer IAM solutions is restraining the market from achieving its full potential.

The global consumer IAM market is segmented by component (solutions, and services), deployment (cloud-based, and on-premises), industry vertical (BFSI, healthcare, IT & telecom, energy & utilities, and others), and geography (North America, Europe, Asia-Pacific, and the Rest of the World).

Market Dynamics

• The BFSI segment is anticipated to hold the largest market share during the forecast period, due to the accelerating number of online frauds, such as frauds at e-commerce websites and wallets.

• Asia-Pacific market is anticipated to project considerable growth during the forecast period, owing to the growing adoption of consumer IAM in different industrial verticals across the region.

The major companies serving the global consumer IAM market include Broadcom Inc., HID Global, IBM Corp., Microsoft Corp., SAP, AWS, and Salesforce Inc. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions contributing significantly to the market growth. 

Recent Developments

• In August 2024, SecureAuth unveiled its vision for advancing workforce and customer identity security, alongside a rebranded company and product UX. The company offers an AI-driven Risk Engine that delivers authentication and authorization for users, combined with a data privacy framework that protects customer information and ensures consent.

• In April 2024, Oleria announced the general availability of Oleria Adaptive Security, powered by Oleria’s Trustfusion Platform. The solution provides visibility into access and access usage at an individual resource level.

• In January 2022, Alcor extended its IAM product- AccessFlow. It is an automated, self-service enterprise access management system built on the ServiceNow platform. It helps organizations achieve automated, centralized, and compliant Access Management. 

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