Market Trends of US Consumer Identity And Access Management Industry
Cloud Segment is Expected to Gain Significant Traction
- Cloud technologies make it easy for service providers to offer on-demand access to a shared pool of resources, e.g., networks, servers, storage, applications, and custom services that can be quickly set up and discharged with low management efforts.
- Consumers can benefit from advantages such as scalability, flexibility, quick returns, and rapid implementation of hardware and software through cloud computing. In addition, consumers benefit from a range of benefits, such as improved data storage and seamless access to the Internet, email, social media, and other types of information. The adoption of cloud technologies by different consumer product companies and many consumers is due to these advantages.
- Consumer identity and access management solutions are being developed and used in the cloud as a result of an increasing demand for cloud technologies. Cloud-based CIAM solutions offer a variety of benefits compared to on-premise solutions.
- Users who have been considering moving from an on-premise CIAM solution to a cloud-based CIAM solution are primarily checking the potential solutions for their capabilities concerning critical features that include supporting a wide range of operating systems, platforms, and providers through one central console, providing consistent control access to all of the platform's resources from anywhere, increased compliance and audibility, and increased speed of deployment.
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Increasing Cyber Attacks Drive Market Growth in the United States
- In the digitalized world, when every activity is online, the birth of cybercrime has threatened the safety of individuals, resulting in financial or other losses. The need for consumer identity solutions in the region is being driven by an increasing number of data breaches among different users within the United States.
- In addition, new methods are constantly being explored by cyber criminals, and a series of major data breaches across the various users in the region have once again shown that supposedly secure systems are often surprisingly vulnerable. The United States ranked second, with 285 users鈥� accounts breached as of 2023.
- Furthermore, while cyberattacks and data breaches at Fortune 500 companies tend to dominate the headlines, users are starting to push the demand for cybersecurity and insurance significantly. Due to this, the cyber threat landscape is growing, leading to their appetite for consumer identity and access management solutions.
- Moreover, the introduction of new rules on data protection is expected to boost the country's emerging market for access management and consumer identity as consumers are informed about the risks posed by such breaches.
