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LoginRadius, a leader in cloud-based customer identity and access management solution (CIAM) has released an industry report titled “Consumer Identity Trend 2020” for C-suite professionals and product managers of B2C companies that deal with customer’s identity data. The learning objective for this industry analysis is to determine the opportunities and threats that exist within the identity environment.
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LoginRadius publishes Analysis of Consumer Digital Identity 2020
For C-suite professionals and B2C business product managers concerned with
customer identity, LoginRadius, a leader in cloud-based customer identity and
access management (CIAM) solution, has published a market report entitled
"Customer Identity Growth 2020."
The learning objective for this sector review is to recognise the opportunities
and challenges within the identity environment.
Report Overview
The study includes an exhaustive analysis of the 2020 developments in
customer identity. It aims to enhance the customer interactions on a digital
platform through comprehensive user behaviour and lifecycle data analysis.
This research piece highlights the growing rivalry in all vertical areas of the
industry and that customer service is a key to success if companies want to
stand out in a highly competitive world.
To accomplish this, companies need to recognise their user habits and pain
points, including their preferred methods of authentication, such as
passwordless login or multifactor authentication via email or SMS, or social
sign-on.
The data was obtained from the LoginRadius Identity Network which supports
and manages 1,17 billion customer identities for thousands of websites and
mobile apps. The research was carried out from 1 January 2019 to 10 May 2020,
with data. The report will help you understand:
● The preferable login methods by end-users.
● The preferable verification process.
● The performance benchmarks for identity management platforms.
Segments Covered in the Report
LoginRadius has segmented the global customer identity patterns found on its
platform according to the following matrices for the purposes of this study:
A brief overview of Standard Login Trends
● Registration Forms
● Forgotten Password
● Username vs. Email ID
Loginradius Standard Login Trends- Registration Forms
Passwordless Login Trends
● Passwordless Login
A brief overview of Multi-Factor Authentication Trends
● SMS vs. Mobile App
● Multi-Factor Authentication Adoption
Return Rate Comparison
Login Preferences
● Login Preference by End-Users
Loginradius Login Preferences by age ● Social Login Preference by End-Users
Loginradius Social Login Preference by End-Users ● Login Preference by Businesses
Loginradius consumer identity report 2020 – Login Preference by Businesses
Performance Benchmarks
Authentication Token
Key Findings
● 77.88% of companies are using five to seven fields on their registration
forms.
● 34.08% of active customers use the ‘forgot my password’ tool. Of those
customers, 89.10% actually retrieve their passwords.
● 94.85% of companies offer standard login using an email ID.
● Of the customers that use multi-factor authentication (MFA), 57.88% use
MFA via SMS messaging.
● The phone login has the highest return rate of 28.04%. Next is
passwordless login with 23.22%.
● 60.33% of businesses adopted standard login, whereas 31.22% like to
offer social login.
Conclusion
As the threat environment grows in complexity, maintaining awareness of
emerging developments in security and identity management is more critical
than ever for organisations.
The LoginRadius User Identity Trend Report 2020 will help you keep pace with
the changing perceptions of consumers about the identity and create a stable
platform. The Study can now be downloaded.
https://www.loginradius.com/resource/digital-identity-trends-2020/
https://www.loginradius.com/