Identity Verification Market report by “The Insight Partners” sheds light on the key drivers and opportunities attributing to market expansion over the analysis period. It also gives in-depth information pertaining to the challenges and threats poised to hinder revenue generation in the forthcoming years. Additionally, the report also provides crucial information regarding leading companies in this business sphere and the trends that are likely to prevail in the near future.

The identity verification market was valued at US$ 6,208.5 million in 2019 and is projected to reach US$ 18,125.7 million by 2027. The Identity verification market is expected to grow at a CAGR of 14.3% during the forecast period of 2020 to 2027.

The sales of identity verification solution are primarily influenced by numerous economic and non-economic factors. The BFSI and Government sectors are expected to have a significant impact on the growth of the identity verification market. Also, for the healthcare industry, increasing adoption of digitalization is enabling a high degree of services to its customers. Potentially, the BFSI and Government sector present a larger market share as compared to other sectors during the forecast period. Global identity verification market is majorly driven by an increasing number of cyber-attacks and adoption of security solutions, increasing demand for secure transaction in the BFSI sector, and others. Key trends witnessed in the identity verification market are the integration of AI and other advanced technologies for alerting and pattern based monitoring. The rapidly changing nature of businesses requires consistent changes in technology and services. Also, the rapid digitalization among small and medium enterprises (SMEs) are expected to provide substantial growth opportunity to the key players in this market.

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Companies Profiled in Identity Verification Market report includes: Acuant, Inc.,Authenteq,Experian plc,Gemalto N.V. (Thales Group),IDEMIA,Jumio Corporation,LexisNexis,Mitek Systems, Inc.,Onfido,Trulioo

Identity verification Market Insights

Increasing Demand for Secure Transaction in BFSI Sector

Over the years, the financial regulators have intensified their focus on monitoring of fraud activities, which also includes a thrust for the financial institutes to adopt suitable security solutions. Furthermore, in the coming years, the regulators are expected to expect from the firms to be able to show not only that they are capable of functioning the system appropriately but also prove that their systems are efficient enough. This demand for sophistication transaction monitoring system would be predominantly driven by the legislation like NYSDFS (New York States’ Department of Financial Services) part 504 and also the general move towards the control being evaluated by their outcome quality.

MARKET SEGMENTATION

By Component (Solution and Services)

By Deployment (On-Premise and Cloud)

By Organization Size (SMEs, Large Enterprises)

By Industry Vertical (BFSI, Government & Defense, Healthcare, IT & Telecom, Retail, and Others) and Geography

Essential points covered in Identity Verification Market report are:-

  1. What will the Identity Verification Market size and the growth rate be in 2027?
  2. What are the key growth stimulants of Identity Verification Market?
  3. What are the key market trends impacting Identity Verification Market valuation?
  4. What are the challenges to market proliferation?
  5. Who are the key vendors in the Identity Verification Market?
  6. Which are the leading companies contributing to Identity Verification valuation?
  7. What was the market share held by each region in 2027?
  8. What is the estimated growth rate and valuation of Identity Verification in 2027?

The report also puts forward the current and future market scenario derived after a thorough analysis of the markets across five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. PEST analysis for each region is incorporated as well.

Moreover, key companies contributing to Identity Verification Market valuation are studied thoroughly. The study entails a list of these companies along with exhaustive information regarding their offerings, strategic decisions such as partnerships, product launches, mergers & acquisitions and SWOT analysis.

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Reason to Buy:

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Identity Verification Market.
  • Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
  • The key findings and recommendations highlight crucial progressive industry trends in the Identity Verification Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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