According to the latest market research report title “Identity Verification Market By Component (Solution, Service), By Type (Biometric, Non-Biometric), By Mode of Deployment (Cloud, On-Premises), By Organization Size (Large Enterprises, Small & Medium Enterprises), By Application (Access Control and User Monitoring, Know your Customer and Business, Onboarding, Identity Fraud and Compliance and Forensic), By End-User (BFSI, E-commerce & Retail, Defense, Healthcare, IT Services, Others), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific)–Forecast to 2029″, published by MarkNtel Advisors, The Global Identity Verification Market size is estimated to be around USD 19.1 billion by 2029 and is estimated to grow at a CAGR of around 11.2% during the forecast period, i.e., 2024-29.
The data present in the report exhibit from the historic years (2019-22) and the base year (2023) to put together estimations for the forecast period (2024-29). In the study, our researchers put together reliable, unbiased, and accurate data to enlighten investors about fluctuations in the industry & anticipations on what to expect in the future. Since the industry is dynamic and highly fragmented, this report enables the prominent players to make strategic moves associated with their investments in the coming years.
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Global Identity Verification Market Driver:
Surging Adoption of Digitalization Augmenting the Market Growth – The rapid shift toward digital services and online interactions across end-user industries has spurred the demand for efficient & secure identity verification solutions. The global market is witnessing a profound transformation fueled by the need to combat identity theft, fraud, and stringent regulatory requirements. As businesses increasingly adopt digital platforms for customer interactions, from e-commerce to financial services & telehealth, the importance of robust identity verification has been growing in recent years.
Also, witnessing the increasing demand, key market players such as DocuSign, iDenfy, etc., are increasingly working to develop cutting-edge identity verification technologies, including Biometric, document authentication, and Blockchain-based solutions, to ensure seamless and frictionless user experiences while ensuring the highest level of security. This rising development in the Identity Verification Market would increase the adoption of technology & enhance the growth in the forecast years.
Identity Verification Market Segmentation
The Identity Verification Market is highly robust and fragmented into numerous segments;
By Component
-Solution- Market Size & Forecast 2019-2029F, (USD Million)
-Service- Market Size & Forecast 2019-2029F, USD Million
By Type
-Biometric- Market Size & Forecast 2019-2029F, USD Million
-Non-Biometric- Market Size & Forecast 2019-2029F, USD Million
By Mode of Deployment
-Cloud – Market Size & Forecast 2019-2029F, USD Million
-On-Premises – Market Size & Forecast 2019-2029F, USD Million
By Organization Size
-Large Enterprises – Market Size & Forecast 2019-2029F, USD Million
-Small & Medium Enterprises – Market Size & Forecast 2019-2029F, USD Million
By Application
-Access Control and User Monitoring – Market Size & Forecast 2019-2029F, USD Million
-Know your Customer and Business, Onboarding – Market Size & Forecast 2019-2029F, USD Million
-Identity Fraud and Compliance and Forensic- Market Size & Forecast 2019-2029F, USD Million
By End-User
-BFSI – Market Size & Forecast 2019-2029F, USD Million
-E-commerce & Retail – Market Size & Forecast 2019-2029F, USD Million
-Defense- Market Size & Forecast 2019-2029F, USD Million
-Healthcare- Market Size & Forecast 2019-2029F, USD Million
-IT Services- Market Size & Forecast 2019-2029F, USD Million
-Others (Telecom, Gaming, etc.) – Market Size & Forecast 2019-2029F, USD Million
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Key Players Operating in the Identity Verification Market: –
Idfy
-Business Description
-Technology Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
SigniCat
-Business Description
-Technology Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Veriff
-Business Description
-Technology Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Key Questions Answered:
- What is the projected CAGR of the Identity Verification Market during the forecast period?
- Which segment is expected to lead the Identity Verification Market?
- Who are the prominent players driving market growth?
Key Offerings:
- Market Share, Size, and Revenue Forecast
- Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
- Landscape: Leading key players and other prominent participants
About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.
We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfilled their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.
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