A substantial growth trajectory exists for the global Consumer Identity and Access Management market because security requirements are intensifying alongside widespread implementation of advanced authentication solutions.

Consumer Identity and Access Management (IAM) market analysis shows current revenue of $7.79 billion in 2020 with projections for $37.24 billion by 2030 representing a 17.2% compound annual growth rate. Consumer IAM solution uptake accelerates because organizations require better security measures for controlling access along changing traffic volumes and usage irregularities.

IAM adoption by organizations has become essential to manage secure and efficient management of their growing user population. The expansion of IoT technology together with mobile devices creates increasing security challenges for businesses thus driving demand for upgraded authentication systems.

On-premise along with cloud-based IAM solutions continues to drive the remarkable market expansion. The use of cloud-based infrastructure will show exponential growth in the coming years mainly within industries such as retail shopping and healthcare and financial services. Phones serve as the primary implementation tools for the banking sector because banking institutions need strong authentication technologies to protect customer information.