LoginRadius analyzed its global customers over the past year and compiled over 40 unique trends in its annual Consumer Identity Trend report 2022.
Online PR News – 30-May-2022 – US – LoginRadius, the global customer identity and access management (CIAM) provider, today published its annual identity report titled “Consumer Digital Identity Trend Report 2022”.
The report provides an in-depth analysis of the consumer identity market and highlights nine key trends centered around the preferred authentication methods, the preferred identity verification, and the performance benchmark among customers.
Additionally, the finding explains how customer expectations are evolving, and how businesses can best adapt to these trends for a more targeted and effective customer experience.
The report reveals that while 63.02% of customers still prefer standard username/password login as the most common authentication method, phone login is quickly becoming the next preferred login method among customers. More so, the report identifies and backs the rise of phone login with the highest return rate of 31.11%, followed by passwordless login with 29.41%.
The annual Consumer Identity Trends Report 2022 also reveals:
73.81% of companies are using five to seven fields on their registration forms, with 25.38% using five, 28.88% using six, and 19.55% using seven.
33.28% of active customers use the ‘forgot my password’ tool. Of those customers,
85.09% actually retrieve their passwords and 12.37% never reset their password.
Of the customers that use multi-factor authentication (MFA), 59.11% use MFA via SMS messaging.
88.24% of over 50 year-olds prefer using standard login. 73.69% of 18-25-year-olds prefer social login.
Facebook is preferred by 38.14% of users, and Google is preferred by 34.41% of users globally.
Here is a snapshot of the key findings identified from the analysis:
“The global inclination toward frictionless login options such as the phone and passwordless is increasing, and social authentication is winning a broader appeal,” explains Rakesh Soni, CEO and Co-founder of LoginRadius.
“With the swiftly changing consumer identity and access management trends, we look forward to seeing how businesses place their consumers at the center of their digital businesses in the coming years,” adds Soni.
LoginRadius’ Consumer Digital Identity Trend Report 2022 is recommended for C-suite professionals, IAM Professionals, product managers of B2C companies, or anyone looking to improve customer experience and lead generation strategies.
Request a free copy of the full report here.
LoginRadius is a leading cloud-based consumer identity and access management (CIAM) solution that empowers businesses to deliver a delightful consumer experience.
The developer-friendly Identity Platform provides a comprehensive set of APIs to enable authentication, identity verification, single sign-on, user management, and account protection capabilities such as multi-factor authentication on any web or mobile application. The company offers open source SDKs, integrations with over 150 third-party applications, pre-designed and customizable login interfaces, and best-in-class data security products. The platform is already loved by over 500 brands with a reach of 1.17 billion consumers worldwide.
The company has been named as a leading industry player in consumer identity and access management (CIAM) by Gartner, KuppingerCole, and Computer Weekly. Microsoft is a major technology partner and investor.
For more information, visit loginradius.com or follow @LoginRadius on Twitter.