Customer Identity and Access Management (CIAM) Statistics


Steve Bennett
Steve Bennett
Business Formation Expert
Steve runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

Customer Identity And Access Management (Ciam) Statistics 2023: Facts about Customer Identity And Access Management (Ciam) outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Customer Identity And Access Management (Ciam), and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Customer Identity And Access Management (Ciam) Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top Customer Identity And Access Management (Ciam) Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 19 Customer Identity And Access Management (Ciam) Statistics on this page 🙂

Customer Identity And Access Management (Ciam) “Latest” Statistics

  • Credential stuffing attacks alone cost organizations an average of $4 million annually, according to a 2019 study by the Ponemon Institute.[1]
  • A Ponemon study in 2019 found that the average data breach costs an organization $3.92 million.[1]
  • As of May 2020, EU countries have fined organizations large and small that are not GDPR compliant with he over €153 million.[1]
  • The average global website conversion rate in 2019 was 2.58%, down from 3.42% in 2014.[1]
  • In the 2021 Hubspot Future of Commerce survey, only 31% of consumers surveyed were willing to share any kind of data with brands.[2]
  • IBM’s 2021 Cost of Data Breach Report found that compromised credentials accounted for 20% of the initial attack vectors, totaling $4.37 million.[2]
  • A positive experience is key to customer loyalty. Of those companies investing in customer experience, 92% of them say their efforts have increased customer loyalty.[3]
  • A Ponemon study found that 65% of consumers lost trust in a company after a data breach, and 27% said they ended their relationship with the company.[3]
  • Over 85% of buyers say they are willing to pay more for a great customer experience.[4]
  • Only 1% of customers believe their company can consistently deliver customer service that meets their expectations.[4]
  • In a recent survey, 83% of US customers said they would stop buying from companies that experienced a data breach, and 21% said they would never go back.[4]
  • Customers love personalized offers, with 30% saying they would use the app again if a discount was meaningful to them.[5]
  • A PwC study found that 32% of customers would abandon their favorite brand after a single bad experience.[6]
  • According to the 2019 Ping Identity report, 81% of customers will stop interacting with brands online after a breach, and one in four will stop interacting at all.[6]
  • A recent IBM study on the cost of data breaches found that of the average data breach cost of $3.92 million, 36% of the total cost, or $1.42 million, is due to lost business.[6]
  • According to Brand Loyalty is Earned at Login, 56% of online customers will leave an online service if logging in becomes too frustrating.[6]
  • Access-related breaches represented the largest known type of security breach in 2019 (52%), up 5% from 2018, according to F5 Labs.[7]
  • With 82% of the world’s population currently or imminently subject to data privacy regulations, according to PwC analysis, protecting customer data is no longer an option, it’s a necessity.[7]
  • According to a PwC survey, one in three US consumers (32%) would be willing to give up a brand they love after one bad experience.[7]

Also Read

How Useful is Customer Identity and Access Management Ciam

One of the main advantages of CIAM is its ability to streamline the customer registration and login process. By allowing customers to use a single set of credentials to access multiple applications and services, CIAM simplifies the user experience and reduces the friction that can lead to customer frustration and abandonment. This not only improves customer satisfaction but also increases the likelihood of repeat business.

Furthermore, CIAM solutions offer robust security features that help protect customer data from unauthorized access and fraud. Authentication protocols such as multi-factor authentication, single sign-on, and biometric verification strengthen the security of customer accounts and help prevent data breaches. This level of security is crucial in today’s world where data privacy and protection are top concerns for both businesses and customers.

In addition to security and convenience, CIAM solutions also enable companies to gain deeper insights into customer behavior and preferences. By collecting and analyzing customer data, businesses can tailor their marketing efforts to target specific customer segments with personalized offers and recommendations. This not only drives customer engagement but also boosts sales and revenue.

Another benefit of CIAM is its ability to facilitate regulatory compliance. With data privacy laws such as GDPR and CCPA becoming increasingly strict, businesses must ensure they are following best practices when it comes to collecting, storing, and managing customer data. CIAM solutions provide the tools and functionalities needed to comply with these regulations and avoid costly fines and penalties.

Overall, CIAM has proven to be a valuable asset for businesses looking to improve customer relationships, enhance security, and drive business growth. The ability to provide a seamless and secure user experience while gaining valuable insights into customer behavior sets companies apart from their competitors and creates a competitive advantage in today’s crowded marketplace.

As more businesses recognize the importance of customer identity and access management, we can expect to see continued innovation and evolution in this space. Companies that invest in CIAM solutions will not only improve their customer relationships but also position themselves for long-term success in an increasingly digital world.

Reference

  1. auth0 – https://auth0.com/blog/what-is-ciam/
  2. securityintelligence – https://securityintelligence.com/articles/what-is-customer-identity-access-management/
  3. cio – https://www.cio.com/article/350262/what-is-customer-identity-access-management.html
  4. loginradius – https://www.loginradius.com/blog/identity/customer-identity-and-access-management/
  5. okta – https://www.okta.com/uk/identity-101/ciam/
  6. pingidentity – https://www.pingidentity.com/en/resources/blog/post/what-is-customer-identity-and-access-management-ciam.html
  7. pwc – https://www.pwc.com/us/en/services/consulting/cybersecurity-risk-regulatory/library/customer-identity-access-management.html

Leave a Comment