Identity Verification Market Overview
As per recent research 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.
Identity Verification Market Dynamics
Market Drivers : 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.
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Identity Verification Market Segmentation Overview 2024-2029: Key Factors
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
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Identity Verification Market Geographical Insights:
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Key Players and Competitive Strategies in the Identity Verification Market
Several prominent players dominate the Identity Verification Market, including:
- LexisNexis Risk Solutions
- Experian Information Solution Inc.
- Equifax
- Thales
- GBG Plc.
- MasterCard
- Trans Union LLC
- Trulioo
- Mitek System Inc.
- Jumio
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Questions Addressed in this Study
1.How big is the Identity Verification Market Size?
2.What is the Identity Verification Market Growth?
3.Who are the key players of the Identity Verification Market?
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