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Increasing Security Breaches and Demand for Seamless Customer Interaction Propel the Global CIAM Market to 2028DUBLIN, Aug. 28, 2023 /PRNewswire/ -- The "Consumer IAM Market by Offering (Solutions, Services), Solution (Identity Governance, Identity Verification and Authentication, Access Management, Behavioral Analytics), Services, Deployment Mode, Vertical and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering. The global Customer Identity and Access Management (CIAM) market is poised for significant growth, with a projected value of USD 18.1 billion by 2028, up from USD 8.6 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period. The market is driven by key factors shaping its trajectory, including the increasing demand for a frictionless customer experience and growing awareness of regulatory compliance and access management tools. However, challenges related to addressing the complexity of advanced threats may hinder market growth. Key Market Dynamics: Drivers:
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Case Studies: Use Case 1: Metsa Group Enhances Workflow with Digital Identity APIs Metsa Group integrated Ubisecure's Digital Identity APIs to streamline their workflow, achieving improved efficiency and optimization. Use Case 2: Broadcastmed Improves Registration Process with LoginRadius LoginRadius assisted Broadcastmed in enhancing their registration process, leading to enhanced data security and streamlined user experience. Use Case 3: Jurong Port's Digital Transformation Journey with WSO2 WSO2 enabled Jurong Port to embark on their digital transformation journey by providing an API-centric microservices platform, aiding their transition into the digital landscape. Key Companies in the CIAM Market:
The CIAM market's growth is driven by the financial sector's increasing recognition of the importance of technology in enhancing customer experience and security. Cloud deployment, particularly favored by SMEs, exhibits the highest CAGR, while identity verification and authentication solutions see significant adoption due to the increasing need for secure and reliable digital transactions. North America leads in market size due to technological advancement and security concerns. As the digital revolution continues, CIAM solutions are sought after for maintaining and safeguarding identities across multiple digital channels. For more information about this report visit https://www.researchandmarkets.com/r/caue8k About ResearchAndMarkets.com Media Contact: Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
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