Cisco recently projected that the Internet of Things (IoT) is a $14 trillion revenue opportunity. To realize the full potential of this exploding market, however, businesses must plan for a new “technology stack” with robust customer identity and access management (cIAM) at its core.
Well-designed cIAM solutions support an industry-wide pivot toward making identity the key element of every entity in what’s referred to by industry analysts as the Identity of Things (IDoT), whether that entity is a person, a connected thing, or an app or service.
cIAM, married with smart, connected products enables:
- Superior Performance: To deliver the consistent, frictionless experiences that consumers expect, best-of-breed cIAM solutions must be highly available and capable of handling millions of transactions and interactions on a dime.
- Reduced Friction: Traditional username/password authentication models are increasingly being replaced with new methods that are not only safer, but also enable more responsive performance. Federated single sign-on (SSO) creates unified profiles that seamlessly incorporate data from social networks and other identity providers (IdPs).
- Enhanced Personalization: Smart, connected devices, paired with cIAM, allow companies to optimize the product lifecycle by offering deep insights into how devices are used while delivering highly personal experiences that foster brand loyalty.
To date, legacy IAM providers have fallen short when attempting to adapt to managing the volume, variety and velocity of customer data demanded by today’s always-on landscape. This is giving rise to a new breed of identity management solutions with cloud-based architectures that are well-equipped to not only handle the data that the IoT generates daily, but also to convert this data into top-line value.
To learn more about how identity powers the Internet of Things, download our white paper: “Why Identity is at the Heart of the IoT.”
By David Kerin