Blockchain Press Releases
Consumer IAM Market worth $18.1 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 7, 2023 /PRNewswire/ — Biometric authentication, mobile-centric IAM, and Zero Trust architecture are predicted to see significant use in the Consumer IAM industry in the future. Security and user experience are anticipated to be significantly improved by AI-driven behavioural analytics, decentralised identification, and passwordless authentication.
The global Consumer IAM Market size is projected to grow from USD 8.6 billion in 2023 to USD 18.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period, according to a new report by MarketsandMarkets™. The rise in identity and authentication fraud and the demand to deliver a frictionless customer experience drives the growth of the CIAM market. Moreover, difficulties addressing the complexity of advanced threats may hinder market growth.
Browse in-depth TOC on “Consumer IAM Market“
300 – Tables
40 – Figures
400 – Pages
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Scope of the Report
Report Metrics |
Details |
Market size available for years |
2017-2028 |
Base year considered |
2022 |
Forecast period |
2023–2028 |
Forecast units |
Value (USD Million/USD Billion) |
Segments Covered |
offering, solution, service, deployment mode, verticals, and regions |
Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered |
Major vendors in the global CIAM market include IBM (US), Microsoft (US), Salesforce (US), SAP (Germany), Broadcom (US), Okta (US), Akamai Technologies (US), Ping Identity (US), ForgeRock (US), LoginRadius (Canada), HID Global (US), ManageEngine (US), WidasConcepts (Germany), Acuant (US), Omada (Denmark), OneWelcome (Netherland), GlobalSign (UK), Ubisecure (Finland), SecureAuth (US), WSO2 (US), AWS (US), Simeio Solutions (US), Auth0 (US), Cyberark (US), OneLogin (US), Trusona (US), FusionAuth (US), IDnow (Germany), Strata Identity (US), Evident (US). |
Based on offerings, the services segment is expected to grow at a higher CAGR during the forecasted period.
The services provided by security vendors aim to help customers effectively utilize and manage CIAM. These vendors offer various types of support, including consulting, training, education, and ongoing assistance. Their primary focus is to assist organizations in meeting their business objectives using their CIAM products. Vendors employ up-to-date techniques, comprehensive strategies, and expertise to address the security needs of organizations. They also provide tailored implementation and risk assessment and help deploy CIAM according to industry best practices.
By services, the integration and deployment services segment is expected to hold a larger market size during the forecast period.
Integration and deployment services are provided by experienced industry experts, domain specialists, and security professionals. These professionals assist organizations in designing and implementing effective CIAM strategies, mitigating risks, preventing revenue losses, and enhancing security within their existing information systems. These services are particularly crucial for non-IT companies with the expertise to navigate complex security technologies and safeguard their organizational data. By leveraging integration and deployment services, organizations can tap into the knowledge and guidance of experts to ensure a robust and secure CIAM implementation.
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By region, Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Asia Pacific is the fastest-growing region in the CIAM market, with promising growth opportunities in China, Japan, India, and other developing countries. The Asia Pacific has undergone tremendous economic growth, political transformation, and social change in recent years. Digitalization in the Asia Pacific market has accelerated due to increased internet use, expanding mobile connection, rising smartphone use, and an expanding tech-savvy populace. Companies in all the verticals in the Asia Pacific have introduced innovative digital financial services. Digitization has helped organizations expand their reach to a wide population in the region. According to Adobe’s new 2022 Digital Trends: APAC in Focus research, 77% of Asia Pacific (APAC) firms reported a spike in new consumers through digital channels during the previous 18 months, and 76% observed new customer journeys. Rapid digitization in various industries has widened the opportunity for risks involving identities. More personal and sensitive data is exchanged and kept digitally as more services, transactions, and interactions occur online. Cybercriminals can use these chances to attack people and organizations for fraud and identity theft, which has increased the demand for effective CIAM solutions by organizations and governments.
Top Key Companies in Consumer IAM Market:
IBM (US), Microsoft (US), Salesforce (US), SAP (Germany), Broadcom (US), Okta (US), Akamai Technologies (US), Ping Identity (US), ForgeRock (US), LoginRadius (Canada), HID Global (US), ManageEngine (US), WidasConcepts (Germany), Acuant (US), Omada (Denmark), OneWelcome (Netherland), GlobalSign (UK), Ubisecure (Finland), SecureAuth (US), WSO2 (US), AWS (US), Simeio Solutions (US), Auth0 (US), Cyberark (US), OneLogin (US), Trusona (US), FusionAuth (US), IDnow (Germany), Strata Identity (US), Evident (US) are the key players and other players in the CIAM market.
Recent Developments
- In February 2023, Ping Identity partnered with security consulting services provider Deloitte to offer organizations advanced identity and access solutions. This strategic partnership is expected to help firms’ joint clientele benefit from improved IAM solution selection and onboarding.
- In November 2022, ForgeRock launched the ForgeRock Identity Governance solution. It is a comprehensive cloud-native governance offering designed to help solve security and compliance challenges for large enterprises at scale.
- In November 2022, Okta launched Okta Customer Identity Cloud. It is an easy-to-implement and customizable customer identity solution that helps organizations with security, privacy, and user experience for their customers. It provides complete identity management, from sign-up to sign-out, and helps businesses develop safe, effective, and enjoyable digital experiences.
- In June 2022, Microsoft recently unveiled the Microsoft Entra product family, including the company’s identity and access features. It offers complete visibility over authorization for all identities (both user and workload), activities, and resources Across multi-cloud infrastructures.
- In January 2022, AI & Robotics Ventures Company Limited (ARV) partnered with IBM to launch a blockchain-based National Digital Corporate Identity (NCID) platform. The platform will enhance authentication and reduce the time it takes for onboarding, known as Know Your Customer (KYC).
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Consumer IAM Market Advantages:
- Strong authentication and authorization processes are offered by consumer IAM systems, guaranteeing that only authorised users have access to sensitive information and services. Protection against unauthorised access and data breaches is provided through risk-based authentication and multi-factor authentication (MFA).
- The experience of the consumer is improved by a simple and intuitive registration and login process. Single sign-on (SSO) features are frequently included in consumer IAM solutions, allowing users to access different applications with a single set of credentials and reducing the need to remember numerous passwords.
- client data can be gathered and analysed by consumer IAM solutions, enabling businesses to tailor services, offers, and recommendations in light of unique client preferences and behaviours. This enhances client loyalty and engagement.
- IAM solutions ensure compliance with data protection regulations, such as GDPR and CCPA, by managing customer consent and controlling access to personal data. This helps businesses avoid legal and financial penalties related to data breaches and privacy violations.
- Consumer IAM platforms are made to manage heavy workloads and user bases. Without sacrificing performance, they can quickly scale to handle increasing client numbers.
- By streamlining user administration, removing duplicate identities, and reducing help desk support for password resets and account-related difficulties, implementing a centralised IAM system can lower operational expenses.
- Consumer IAM solutions provide for the smooth and secure transfer of customer identification data between systems by integrating with a wide range of programmes, services, and external identity suppliers.
Report Objectives
- To define, describe, and forecast the CIAM market by offerings, solutions, services, deployment mode, verticals, and region.
- To provide detailed information about the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the CIAM market.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the CIAM market.
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
- To analyze sub-segments of the market with respect to individual growth trends, prospects, and contributions to the overall market.
- To profile the key players of the CIAM market and comprehensively analyze their market size and core competencies.
- To track and analyze the competitive developments, such as product enhancements and new product launches; acquisitions; and partnerships and collaborations, in the CIAM market globally.
- To analyze the impact of the recession outbreak on the growth of the market.
Browse Adjacent Market: Information Security Market Research Reports & Consulting
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Blockchain Interoperability Market – Global Forecast to 2028
Operational Technology (OT) Security Market – Global Forecast to 2028
Fraud Detection and Prevention Market– Global Forecast to 2028
Digital Evidence Management Market – Global Forecast to 2028
Blockchain Market – Global Forecast to 2027
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Blockchain Press Releases
Binance Labs Backs Movement Labs’ Mission to Bring ‘Move Everywhere’ with Investment
- Undisclosed Investment From Binance Labs Follows Movement’s $38M Series A Funding Round
SAN FRANCISCO, May 1, 2024 /PRNewswire/ — Movement Labs, a San Francisco-based blockchain development team, today announced an investment from Binance Labs. These investments closely follow Movement Labs’ successful $38m Series A funding round as the company continues to gain momentum in its mission to bring ‘Move Everywhere.’
Founded in 2022, Movement is building an ecosystem of Modular Move-based blockchains, starting with M2, the first Move Virtual Machine L2 for Ethereum. Movement will use the funds to expand its suite of open-source tooling, frameworks, and protocols to facilitate the adoption of the Move programming language across broader blockchain ecosystems. With Movement, developers can launch secure, performant, and high-throughput Move VM rollups as easily as they do smart contracts.
As part of its global expansion strategy, Movement Labs is placing a strong emphasis on the Asia-Pacific (APAC) region, recognizing the immense potential and talent within the Move development community. The company is committed to championing and supporting Asian Move developers, providing them with the resources, education, and opportunities needed to showcase their exceptional work and contribute to the growth of the Move ecosystem.
“We are thrilled to welcome Binance Labs as an investor,” said Rushi Manche, Co-Founder of Movement Labs. “Their support and expertise will be invaluable as we continue to execute our ‘Move Everywhere’ strategy, starting with a focus on the vibrant and innovative APAC market. By empowering and collaborating with the talented Move developers in the region, we aim to accelerate the adoption of Move and unlock new possibilities for the entire ecosystem.”
For more information about Movement Labs and a guide to participate in its devnet, please visit: movementlabs.xyz and follow on X @movementlabsxyz and on Discord. Connect with us at movementlabs.xyz to discuss global business opportunities.
About Movement Labs:
Co-founders, Rushi Manche and Cooper Scanlon, early builders in the Move ecosystem, founded Movement Labs in 2022 as the first integrated blockchain network, powering the fastest and most secure Layer 2 on Ethereum. Designed to pair smart contract security and parallelization with EVM liquidity and user bases, Movement is bringing the MoveVM to Ethereum through its flagship L2 and connected rollups with the Move Stack.
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs has now grown to be worth over $10 billion. Its portfolio covers 250 projects from over 25 countries across six continents and has a return on investment rate of over 14X. Fifty of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X.
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Blockchain Press Releases
Discover Move Move Coin: Is This the Next Sports Blockchain for Your Workout?
SINGAPORE, May 1, 2024 /PRNewswire/ — MMC Foundation Singapore is excited to announce the launch of Move Move Coin (MMC), the first-of-its-kind blockchain sports project designed to transform how we think about fitness and technology. This pioneering initiative is set to merge health with high-tech, promoting nationwide fitness through the innovative use of Web3 technology.
Transforming National Fitness with Blockchain
By integrating physical activity with blockchain, MMC creates a unique ecosystem where exercise translates directly into MMC computing power. Participants can engage in the MMC exercise plan, turning their workouts into tangible incentives for every physical activity.
Move Foundation’s mission is to ignite a passion for sports across the nation by offering a cutting-edge, enjoyable sports ecosystem. With the introduction of MMC, the vision is to position it as the leading global initiative for national sports programs powered by Web3 technology, setting a precedent for future sports blockchain projects.
Why You Should Move With MMC Foundation
MMC lies in a dynamic system that transforms physical activity into tangible rewards. Participants can enhance their fitness routines while simultaneously generating MMC computing power, a novel approach that earns them MMC encrypted assets. This unique feature leverages the dual benefits of health and technology, offering an incentive that goes beyond traditional fitness rewards.
The integration of NFT technology with sports equipment not only personalizes the user experience but also amplifies the benefits received from workouts. By purchasing NFTs that represent various pieces of sports gear, users can increase their MMC accumulation, thus adding a layer of customization and value to their exercise regimen.
To safeguard the integrity and longevity of NFT assets, MMC Foundation employs the IPFS network for storage, ensuring decentralized, reliable access worldwide. Looking ahead, MMC Foundation is set on expanding MMC’s footprint globally, collaborating with other blockchain ecosystems for seamless asset circulation and exchange, and positioning itself as a leader in the sports blockchain market.
The Global Vision for MMC Foundation
The future of the MMC project is marked by an ambitious global expansion strategy. This involves not only widespread promotion across various markets but also strategic partnerships with other blockchain ecosystems. These collaborations are essential for facilitating the cross-chain circulation and exchange of assets, enhancing the interoperability and reach of the MMC ecosystem.
MMC Foundation is also committed to a robust global marketing drive aimed at establishing the project as a top-tier brand within the sports blockchain industry. By actively promoting and aligning with international sports and fitness communities, MMC Foundation aims to create a widely recognized presence worldwide.
About Move Move Coin
Move Move Coin (MMC) is a solution initiated by the MMC Foundation in Singapore that utilizes Web3 technology to encourage and motivate nationwide physical fitness activities. MMC operates as a token rewards and blockchain-driven system, allowing participation in token mining through devices like smartphones and smartwatches for activity monitoring.
For more information, please visit:
- Official Website: movemovecoin.com
- Blockchain Explorer: mmcscan.com
- Whitepaper: https://doc.movemovecoin.com/zh-cn
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Blockchain
MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
The post MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase appeared first on HIPTHER Alerts.
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