The Latin America, Middle East and Africa Consumer IAM Market would witness market growth of 18.9% CAGR during the forecast period (2021-2027).
Organizations may use identity and access management systems and services to revoke access, eliminate improper exemptions, manage consumer access and authentication procedures, increase productivity, reduce risk, and so on. As a result, most businesses are turning to Solutions and services to enhance productivity and efficiency while maintaining security. In this digital age, identity security seems to have become a need, and it is a top priority for this decade. Everything from money to cellphones now requires a digital identity, and it has become an integral part of our daily lives. CIAM software is useful for identity management and access control, and it helps firms to customize their customer communications.
The need for IAM solutions is projected to rise as the Middle East and Africa undergo a digital transition. Furthermore, governments in this area, including Saudi Arabia, Egypt, and Jordan, have begun enacting data privacy legislation, which will provide market possibilities in the future. Similarly, with increased cybercrime, technological advancements, and the adoption of data privacy and protection legislation in this area, Latin America is expected to have moderate development. Every industry faces unique issues, so as every organization. As a result, defining a uniform CIAM methodology that is interchangeable for any organization is difficult.
The Brazil market dominated the LAMEA Consumer IAM Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $406.8 million by 2027. The Argentina market is anticipated to grow at a CAGR of 19.6% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 18.6% during (2021 - 2027).
Based on component, the market is segmented into Solution (Identity Verification & Authentication, Access Management & Authorization, Behavior Analytics, and Others) and Services. Based on Deployment Type, the market is segmented into cloud and on premises. Based on enterprise size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on end user, the market is segmented into BFSI, Public Sector & Utilities, IT & Telecom, Healthcare, Transportation & Logistics, Retail & e-commerce, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Consumer IAM Market is Predict to reach $19 Billion by 2027, at a CAGR of 15%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Okta, Inc., Ping Identity Holding Corp. (Vista Equity Partners), ForgeRock, Inc., LoginRadius, Inc., IBM Corporation, Salesforce.com, Inc., Microsoft Corporation, SAP SE, Broadcom, Inc., and Akamai Technologies, Inc.
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