Liminal predicts rapid growth in consumer identity and access management

Market research outlet Liminal has released a report that forecasts rapid growth in the Customer Identity and Access Management (CIAM) market, rising from $6.2 billion in 2024 to a projected $10.8 billion by 2028 at a compound annual growth rate of 11.7 percent. The growth is caused by industry changes like vendor consolidation and the demand for more seamless but effective security measures.

One major challenge for the market is fragmented and unreliable identity data, making it difficult to achieve data privacy compliance and producing inconsistent user experiences across different platforms.

Almost half of CIAM businesses are planning major changes to their systems, according to the Market and Buyer’s Guide for Customer Identity and Access Management. Some changes include improvements to identity verification and fraud detection.

As many as 74 percent of businesses struggle with siloed identity data, which disrupts customer identity management across divisions. The market is shifting towards more customizable, integrated tools like user behavior analytics, adaptive authentication, and APIs. Authorization-as-a-service is also rising in demand.

“As businesses navigate the complexities of digital identity and access management, the integration of advanced security features and seamless identity verification becomes increasingly important,” says Liminal CEO Travis Jarae.

The overwhelming majority of respondents, 89 percent, have reported operational cost reductions as a result of CIAM.

Article Topics

biometrics  |  customer identity and access management (CIAM)  |  digital identity  |  Liminal  |  market research