Consumer IAM Market Size, Trends & Analysis – Forecasts To 2025

Consumer IAM Market Insights

The consumer identity and access management (IAM) market is estimated to grow at a CAGR of 16.2% during the forecast period. Frequent cases of cyber-attacks and data breaches over the world are giving rise to a need for secure and efficient business solutions. Consumer identity and access management secures sensitive data from consumers and protects them from cyber-attacks and online threats. The product finds applications in almost all major industries including healthcare, education, government, telecommunication, retail, e-commerce, and hospitality among others.

The exponential rise in the adoption of smart devices, digitization of businesses, rising need to prevent cyber frauds is some of the factors expected to drive growth in the consumer IAM market. Subsequently, encouragement and investment by the government in the field to optimize operations is expected to generate market opportunities in the consumer IAM market.

Consumer IAM Market: Solution Insights

Based on a solution, the consumer IAM market can be segmented into Directory Services, Identity Proofing/Verification, Identity Authentication, Identity Analytics, Identity Administration and Authorization. Consumer IAM enables optimization of business operations, provides high levels of security and allows organizations to function without any operational hassles. The Identity Proofing/Verification segment is estimated to hold the largest market share owing to rising adoption of consumer identity services by various businesses. Accordingly, the Identity authentication and Analytics segment is also expected to demonstrate steady growth. The identity analytics segment is likely to grow at the fastest CAGR during the forecast period.

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Consumer IAM Market: Service Insights

The Consumer IAM market based on service is classified as Managed Services, Professional Services. The professional services segment includes Implementation, Training & Support and Consulting services. The professional services segment is estimated to hold the larger market share in terms of revenue during the forecast period. This can be attributed to growing demand for consumer IAM services, and the larger number of organizations deploying consumer authentication and identity proofing solutions.

Consumer IAM Market: Authentication Type Insights

Based on Authentication Type, the Consumer IAM market is segmented into Passwords, Knowledge-Based Answers, Tokens, Biometrics, Pin, and Security Certificates. The password based authentication segment being widely used conventionally is expected to hold the major portion of the market share during the forecast period. Password-based authentication is the easiest and widely accepted authentication method. Subsequently, the biometrics-based authentication segment is expected to demonstrate the fastest growth in the coming years. Consumers are shifting to more advanced technology for better security and ease of application. Biometric authentication is being adopted at a fast rate across all industrial verticals.

Consumer IAM Market: Deployment Type Insights

The Consumer IAM market based on deployment type is classified into On-Premises and Cloud. On-premise solutions are a traditional method of deployment of consumer IAM solutions. Cloud-based solutions have become popular due to the easy availability of internet services, rapid technological advancements are benefits provided by cloud-based solutions. The Cloud-based solutions market segment is thus expected to grow at the fastest rate during the forecast period.

Consumer IAM Market: Vertical Insights

Based on vertical, the Consumer IAM market can be classified into Banking, Financial Services, and Insurance, Government, Healthcare, Education, Retail & Consumer Goods, Telecommunication, Media & Entertainment, and Travel & Hospitality. The telecommunications segment is estimated to grow at the fastest CAGR during the forecast period. The telecommunications industry demand for fast and secure identification processed, which in turn is driving the Consumer IAM market growth in the segment.

The BFSI sector is expected to hold the highest market share in terms of revenue. Investments in BSFI infrastructure for better consumer experience, encouragement by the Government to adopt new technology for efficient and secure transactions are factors fueling market growth in the segment. Additionally, banks are taking further efforts to incorporate more secure methods for payments to attract consumers, in accordance with the heavy digitization of transactions.

Consumer IAM Market: Regional Insights

North America is expected to lead the Consumer IAM market during the forecast period in terms of revenue. This is primarily because of stringent regulations with respect to identity and consumer protections in the U.S. Businesses in the U.S. have to comply with these regulations to protect their businesses and customers as well. Europe is expected to hold the second largest market share in the consumer IAM market.

Asia-Pacific region is estimated to grow at the highest CAGR. This growth can be attributed to the high volume of the digitally skilled population in the region, which is more compliant and comfortable with using digital payments and identification platforms. More online transactions are expected to generate more demand for secure payment and consumer IAM platforms. Emerging economies such as India, South Korea, and China are expected to contribute heavily to growth in the Consumer IAM market.

Consumer IAM Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase Consumer IAM over the coming years. Some leading consumers of this market are Bank of America, Vodafone, Apollo Hospitals among others.

Consumer IAM Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Consumer IAM Market Share & Competitor Analysis

Major companies operating in the Consumer IAM market are Microsoft Corporation, Gigya Inc, ForegeRock Inc, IBM Corporation, Janrain Inc, LoginRadius Inc, GlobalSign, Okta Inc, Ping Identity Corporation, Trusona, Amare Inc, and Mitek Systems among others.

In January 2018, Trusona and ForgeRock partnered to boost their identity management services. The collaboration is aimed to eliminate passwords to provide consumers with more secure authentication services.

In October 2017, Gigya Inc launched the Gigya Enterprise Preference Manager. The platform is designed to facilitate organizations in building customer relations and deal with emerging privacy regulations.

In February 2016, GlobalSign and MePIN partnered to deploy advanced mobile authentication services for mobile operators and financial institutions.

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CONTACT CENTER SOFTWARE MARKET SIZE, TRENDS & ANALYSIS – FORECASTS TO 2025

Contact Center Software Market Insights

The global Contact Center Software market is estimated to grow at a CAGR of close to 15.5% over the forecast period. Contact center management software enables easy management of agent and customer interactions, increase the productivity of contact centers by accurately forecasting workloads, monitoring agent performance, and real-time reporting. Growing technological advancements in Customer Relationship Management (CRM), use of analytics and artificial intelligence in business operations are factors expected to drive growth in the contact center software management market.

Companies are inclined towards developing solutions that can perform routine tasks automatically, reducing operational time. This allows companies to focus on more important activities such as decision making and analytics. Contact center software finds applications in sectors such as banking, finance, healthcare, government, and media among others. Multiple benefits of contact center software such as competitive edge, cost-effectiveness, operational efficiency and improved customer relations are expected to drive the market. However, companies may face problems integrating this software into traditional business management systems, which is expected to have a potential negative impact on the market up to some extent.

Contact Center Software Market: Vertical Insights

Based on Vertical, the contact center software market is segmented into BFSI, Consumer Goods & Retail, Government, Healthcare, IT & Telecom, Travel & Hospitality, and Media & Entertainment. Contact centers provide benefits such as flexibility, enhanced customer management, and improved operational efficiency.

The consumer goods and the retail segment is estimated to demonstrate the highest CAGR over the forecast period. Demand for contact center software in this segment is driven by the need for better client database management and increased use of analytics in retail management.

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Contact Center Software Market: Service Insights

The contact center software management market can be classified into Integration & Deployment, Support & Maintenance, Training & Consulting, and Managed Services based on service. The integration & deployment segment is expected to hold the major share in terms of revenue over the forecast period. The demand for contact center management software is growing due to improved technological advancements, innovation, and benefits of using digitized techniques in business operations.

The segment is further expected to be driven by growing adoption of contact center systems and integration of new systems with existing conventional business management systems. Demand for better customer experience, need for better customer service with respect to troubleshooting and resolving technical issues is expected to further boost market growth.

Contact Center Software Market: Solution Insights

Based on the solution, the contact center software market is classified into Customer Collaboration, Dialers, ACD ( Automatic Call Distribution), IVR (Interactive Voice Response), CTI (Computer Telephony Integration), Workforce Optimization, Reporting, and Analytics.

The Interactive Voice Responsive (IVR) segment is expected to hold the largest revenue share over the forecast period owing to growing demand for quick query resolution. The IVR solution enables customers to solve their issues related to products without the help of customer care representatives. IVR is also being used for marketing, feedback and payment processing, further boosting growth in the segment. Further, the customer collaboration segment is estimated to record the highest CAGR, owing to use of the service to establish long-term relationships with their customers.

Contact Center Software Market: Deployment Type Insights

The contact center software market based on deployment type can be segmented into On-Premises and Cloud. Cloud-based solutions are hosted on the vendor’s server and access is allowed only to authorized individuals through a browser. Factors such as improved security and affordability of internet connections is anticipated to boost the demand for cloud-based deployment segment over the coming years.

Contact Center Software Market: Organization Size Insights

The Small and Medium Enterprise segment is expected to grow at a faster CAGR over the forecast period. Growing popularity and accessibility to customer care solutions across all business segments are driving growth in the contact center software market. Large enterprises have huge amounts of data which requires efficient management locally and internationally. Need for improved efficiency and cost-effectiveness is thus expected to drive the market growth.

 Contact Center Software Market: Regional Insights

North America is expected to hold the largest market share over the forecast period. Highly developed technological solutions, investment in research, focus on technology adoption are some factors expected to contribute to the market growth in the region. The global rise in mobile analytics, mobiles, and social media across various industries has led to a need for better operations and business process automation.

The Asia Pacific region is estimated to demonstrate the highest growth owing to numerous emerging opportunities with respect to process automation in healthcare, banking, retail, e-commerce, and IT industry. Growing number of small and medium businesses in the region is also expected to boost the demand for contact center software..

Contact Center Software Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase contact center software over the coming years. Some leading consumers of this market are Walmart, Apollo Hospital, and Bank of America among others.

Contact Center Software Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Contact Center Software Market Share & Competitor Analysis

Major companies operating in the contact center software market are Genesys Telecommunications Laboratories Inc., Enghouse Interactive, Huawei Technologies Co., Ltd., Oracle Corporation, Drishti Soft Solutions Pvt. Ltd, Cisco Systems, SAP SE, Alcatel-Lucent Enterprise, Masergy Communication Inc, Mitel Networks Corporation, 8x8, Amazon Web Services (AWS), Inc, Avaya Inc. and Five9, Inc among others.

In March 2017, AWS launched Amazon Connect, contact center software developed by Amazon.

In February 2017, Masergy Communications Inc. launched its cloud contact center with predictive analytics and salesforce capabilities.

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Digital Insurance Platform Market Size, Trends & Analysis – Forecasts to 2025

Digital Insurance Platform Market Insights

The global digital insurance platform market is likely to grow at a lucrative CAGR over the forecast period. Factors such as growing digitization clubbed with increasing trend of IOT and high adoption of insurance analytics solutions across verticals are likely to propel the market growth over the coming years.

Digital insurance platform is specifically designed to cater to the rapidly changing consumer demand for digitization as well as for the continuous up gradation of existing facilities. Digital insurance platform provides enhanced customer experience, improved efficiency, lower business cost and customized solutions among others. The demand for digital insurance platform is further likely to increase over the coming years as it reduces the probability of manual errors along with the total turnaround time while carrying out operations.

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Digital Insurance Platform Market: Type Insights

On the basis of type, the global digital insurance platform market is segmented into property & casualty insurance, life insurance, and health insurance among others. The health insurance segment is projected to experience a significant growth over the coming years. Factors such as increasing geriatric population along with the growing incidence of chronic diseases, and development of advanced analytical and big data solutions are expected to stimulate the growth of the market over the forecast period.

Digital Insurance Platform Market: Organization Size Insights

On the basis of organization size, the global digital insurance platform market is classified into small & medium sized enterprise and large enterprise. The demand for digital insurance platform in small and medium sized enterprises is expected to increase significantly over the forecast period due to rapid adoption of cloud based insurance analytical solutions among the organizations. Large enterprises are also likely to grow at a considerable rate over the coming years.

Digital Insurance Platform Market: Application Insights

The digital insurance platform market is segregated into claims management, risk management, process optimization, and customer management & personalization among others. Risk management application segment is projected to grow at the highest CAGR over the forecast period as it simplifies the process and further helps to evaluate and mitigate potential risks associated while carrying out any operation.

Digital Insurance Platform Market: End-User/ Deployment Model Insights

Based on end-users, the global digital insurance platform market is divided into insurance carriers, government agencies, managing general agents, and retail agents among others.

The global digital insurance platform market is segmented into on-premise and cloud based solutions, by deployment model. The demand for cloud based solutions is expected to increase at a high CAGR over from 2017-2025. Factors such as low deployment cost coupled with its enhanced features and huge application in small & medium sized enterprises are likely to stimulate the segment growth over the forecast period.

Digital Insurance Platform Market: Regional Insights

North America is projected to hold the maximum revenue share of the overall market during the forecast period. The regional growth is attributed to rapid adoption of insurance telematics solutions in countries such as the U.S. and Canada along with rapid adoption of integrated cloud platform in the region. The market in North America is likely to be trailed by Europe. Asia Pacific is anticipated to grow at the highest CAGR over the coming years due to high demand for digitization and cloud-based solutions across several verticals.

Digital Insurance Platform Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase digital insurance platform over the coming years. Some leading consumers of digital insurance platform market are Berkshire Hathaway and United Health Group among others.

Digital Insurance Platform Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Digital Insurance Platform Market Share & Competitor Analysis

Some of the players operating in the global digital insurance platform market include IBM, Cognizant Technology Solutions, DXC Technology, EIS Group, EY, SAP, Capgemini, Oracle, and Majesco among others.

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Blockchain Technology in the Banking, Financial Services, and Insurance Sector is expected to grow at a CAGR of 41.16% from 2017 to 2025 to reach USD 4,760.4 million by 2025

Type Outlook (Revenue: USD Million, 2015 - 2025)

·         Public

·         Private

·         Hybrid

Application Outlook (Revenue: USD Million, 2015 - 2025)

·         Smart Contracts

·         Smart Assets

·         Clearing and Settlement

·         Payments

·         Digital Identity

·         Others

End-Use Outlook (Revenue: USD Million, 2015 - 2025)

·         Banks

·         Insurance Providers

·         Other Financial Service Providers

Regional Outlook (Revenue: USD Million, 2015 – 2025)

According to a new market research report published by Global Market Estimates, Blockchain Technology in the Banking, Financial Services, and Insurance Sector is expected to grow at a CAGR of 41.16% from 2017 to 2025 to reach USD 4,760.4 million by 2025. Factors such as reduced transaction time, transparency, and lower operational cost are anticipated to boost the demand for blockchain solutions in the BFSI sector.

The payments segment is projected to occupy a large share as it offers greater security and faster processing even for overseas transaction. Blockchain solutions eliminate the need of third parties for verifying transactions, thereby, increasing process efficiency and benefiting banks whose primary goal is faster & easy banking.

Browse 102 Market Data Tables and 45 Figures spread through 151 Pages and in-depth TOC on "Blockchain Technology in Banking, Financial Services, and Insurance (BFSI) Market - Forecasts to 2025" https://www.globalmarketestimates.com/blockchain-technology-bfsi-market

Key Market Insights

·         The blockchain technology market is expected to find deep penetration in the BFSI industry

·         A large number of banks distinguish themselves on the basis of faster transactions and ease of making & receiving payments

·         The technology enables financial institutions to maintain transparency of dealing coupled with lowered administrative and infrastructure cost

·         Companies are subjected to make investments in private or public blockchains on the basis of the amount of decentralization or sensitivity of information

·         North America and Europe are anticipated to witness large investments in blockchain solutions for the banking and financial service sector

·         The increasing number of industries and developing banking sector in the Asian and Middle Eastern region is also projected to augment demand for distributed ledger technology (DLT) solutions

·         Companies involved in the development of blockchain solutions are taking up strategic initiatives such as partnerships and collaborations to test how the solution performs in the market

·         Some of the companies developing blockchain technology include IBM Corporation, AWS, Microsoft Corporation, Chain, Inc., Coinbase, Digital Asset Holdings, Ripple, R3, Ledger Holdings Inc., and Olympus Labs among others

·         In September 2017, Microsoft Corporation tied-up with Bank Hapoalim from Israel to develop a system that uses blockchain technology to manage digital bank guarantees

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Blockchain Technology in BFSI Market Size & Analysis – Forecasts To 2025

The global blockchain technology in the banking, financial services, and insurance (BFSI) industry is expected to grow at a tremendous rate over the coming years. Major factors positively influencing the growth of this market include increased operational efficiency; reduced cost and time of the transaction and transparency are expected to positively influence the growth of the blockchain market in the BFSI sector.

Blockchain Technology in BFSI Market: Type Insights

The blockchain technology market for the energy sector is segmented on the basis of type into public, private, and hybrid. Private blockchain improves operational efficiency to a large extent, however it limits decentralization. Public blockchains are expected to grow at a high rate as it allows interoperability, decentralization, and transparency of operations along with security. The demand for hybrid blockchain solutions is also expected to grow at a significant CAGR over the coming years.

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Blockchain Technology in BFSI Market: Application Insights

Blockchain technology on the basis of the application is segmented into smart contracts, smart assets, clearing and settlement, payments, and digital identity among others. The payment segment is expected to grow at the highest CAGR over the coming years on account of the growing number of partnerships between banks and blockchain technology providers in order to reduce cost & time in processing transactions.

Blockchain Technology in BFSI Market: End-use Insights

Blockchain technology on the basis of end-use is segmented into banks, insurance providers, and other financial service providers. The demand for blockchain solutions in the banking sector is projected to occupy a large share in the market. Blockchain solution in the banking sector is expected to enable efficient management and collaboration across regulatory enterprises and businesses.

Blockchain Technology in BFSI Market: Regional Insights

The North American and European region is anticipated to witness large investments in blockchain technology as companies in these regions are more open to experimenting with upcoming IT solutions. Blockchain technology developers in the North American and European region have also experienced considerable investments by financial companies in blockchain projects. The Asia Pacific and the Middle Eastern region is expected to grow at a high CAGR over the forecast period on account of rising transactions in short-term bank lending.

Blockchain Technology in BFSI Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Blockchain Technology in BFSI Market: End-Use Landscape

The end-use landscape includes a list of current and prospective consumers existing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to invest in blockchain solutions such as Santander Bank, Canadian Imperial Bank of Commerce, Banco Santander, J.P. Morgan Chase, and Citigroup.

Blockchain Technology in BFSI Market: Competitive Landscape

The global blockchain industry is evolving at a rapid pace on account of its increased preference across various industry verticals. Some of the companies that have taken up projects to provide blockchain technology to the BFSI sector include IBM Corporation, AWS, Microsoft Corporation, Chain, Inc., Coinbase, Digital Asset Holdings, Ripple, R3, Ledger Holdings Inc., and Olympus Labs among others. In September 2017, Microsoft Corporation tied-up with Bank Hapoalim from Israel to develop a system that uses blockchain technology to manage digital bank guarantees.

The stakeholders to the report include government institutions, banks, financial repositories, insurance providers, exchange market, research organizations, and educational institutes among others.

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Internet of Things Services Market Size, Trends & Analysis – Forecasts to 2025

The global Internet of Things (IoT) services market is anticipated to grow at an exponential CAGR over the forecast period. The market is expected to be influenced by high adoption of managed and professional services by several companies. Factors such as increasing use of consumer electronics along with growing application of IoT across various end-use verticals are likely to augment the market growth.

Increasing demand for process automation coupled with growing technological developments has induced high demand for professional as well as managed services, thereby stimulating the overall IoT services market. The growing adoption of BYOD clubbed with growing demand for highly customized IoT services in the transportation & logistics sector are likely to stimulate the overall market growth.

Internet of Things Services Market: Service-Type Insights

The global Internet of Things services market is segmented into managed services and professional services. Managed services segment is further divided into infrastructure management services, security management services, network management services, data management services, and device management services. Professional services segment includes consulting services, infrastructure services, system designing & integration services, support & maintenance services, and education & training services.

Managed Services’ segment is likely to lead the overall market by registering a significant CAGR over the forecast period. The segmental growth can be attributed to rising demand for IoT managed services among companies which aim to optimize their financial budget. Professional services are also likely to hold a considerable market share as it helps to reduce capital expenditure and operational expenditure of an organization. Among professional services, IoT consulting services are expected to lead the market as it helps to eliminate compliance costs along with minimizing the threat of security breaches.

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Internet of Things Services Market: Application Insights

By application, the IoT services market is divided into manufacturing, retail, IT & telecom, transportation & logistics, energy & utilities, smart buildings, and healthcare among others. Transportation & logistics application segment is likely to dominate the overall market in the foreseeable future. Factors such as growing demand for security, analytics, logistics & inventory management, and digitalization among others are likely to propel the growth of the concerned segment.

Internet of Things Services Market: Regional Insights

The North American market accounted for the highest market share in 2016. This growth can be attributed to latest advancements in technology coupled with the presence of a large number of major vendors across the region. The North American market is likely to be trailed by Europe in terms of size. The market in the Asia Pacific is projected to witness highest CAGR over the projected period due to development of IT infrastructure and manufacturing sector.

Internet of Things Services Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase Internet of Things services over the coming years. Some of leading consumers of the Internet of Things services market are. Medtronic, Kroger Company, and DHL among others.

Internet of Things Services Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Internet of Things Services Market Share & Competitor Analysis

Some of the players operating in the global Internet of Things services market include Cognizant, Infosys, IBM, Tata Consultancy Services, Genpact, HCL Technologies Limited, Capgemini, Tech Mahindra, Wipro, and Accenture among others.

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