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. According to MarkNtel Advisors Study.
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.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Identity Verification Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2029
- 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
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - LexisNexis Risk Solutions, Experian Information Solution, Inc., Equifax, Thales, GBG Plc., MasterCard, Trans Union LLC, Trulioo, Mitek System Inc., Jumio, Idfy, SigniCat, Veriff, PXL Vision AG , SumSub, are looking forward to strengthening their market positions.
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We follow a tried-and-tested research methodology that blends top-down and bottom-up approaches to deliver highly accurate market insights. Every report is powered by data triangulation, ensuring well-rounded and validated findings.
From smart sample selection and reliable data collection to in-depth analysis and precise forecasting, our process is designed to minimize error and maximize impact.
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