• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Market for Consumer Identity and Access Management to Double in Five Years: MarketsandMarkets

August 14, 2020

“Many of the world’s top IAM vendors are located in the US and Canada, including Microsoft and IBM. Salesforce, Broadcom, Okta, Ping Identity, and ForgeRock were also listed as some of the top players in the space.”

Market for Consumer Identity and Access Management to Double in Five Years: MarketsandMarkets

MarketsandMarkets has released a new report that suggests that the market for consumer identity and access management (IAM) solutions will double in the next five years, growing from $7.6 billion in 2020 to $15.3 billion in 2025. Those numbers correspond to a CAGR of 15.1 percent, with venture capital driving much of that growth as investors back new technologies in an effort to build the market.

According to MarketsandMarkets, much of that growth will be concentrated in professional sectors. For example, the financial services sector is expected to have the highest CAGR during the forecast period, largely because financial institutions regularly handle sensitive information and are amongst the most popular targets for cybercriminals. Those financial organizations have historically been early adopters of new identity technologies, and that trend is expected to continue as they try to stay one step ahead of fraudsters.

Meanwhile, integration and deployment solutions are expected to see the most growth on the services front. Those services are specifically geared toward security and IT professionals, who are often asked to integrate next-generation access management technology for organizations that may not have the expertise to do it themselves.

North America will be the biggest region for IAM technology. Many of the world’s top IAM vendors are located in the US and Canada, including Microsoft and IBM. Salesforce, Broadcom, Okta, Ping Identity, and ForgeRock were also listed as some of the top players in the space.

MarketsandMarkets has previously predicted that the overall security market will reach $373 billion by 2022. Consumer Identity and Access Management only represents a fraction of that total, but it will be increasingly important moving forward. Cyberattacks and data breaches have become more common in the past few years, and especially since the onset of COVID-19.

MarketsandMarkets has also predicted that the Biometrics-as-a-Service market will hit $3.6 billion by 2025.

–

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: Biometric, biometrics, IAM, identity and access management, market research, MarketsandMarkets, Security

Related News & Articles

Synaptics Brings Fingerprint Biometrics to New Lenovo Notebook

Haptrics Inc Licenses Precise Biometrics Software

Share Your Opinion on Biometrics With This Year in Review Survey

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Onfido Explains How UK Privacy Bill Is ‘Positive Step’ In Global Patchwork
  • Greek Ministry of Digital Governance Delivers On Mobile ID Promise
  • Poll Results Show Android Users’ Surprising Biometric Preferences
  • New UK Border Control Scheme to Require Selfies From EU Visitors
  • IDnow Provides Onboarding Tech for Maritime Employment Service

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld