What are the major factors driving the growth of the identity verification market?

In the year 2024, the industry size of identity verification is evaluated at USD 12.86 billion. Read More

What would be the CAGR of identity verification Market over the forecast period?

Identity Verification Market size was valued at USD 11.36 billion in 2023 and is set to cross USD 82.72 billion by 2036, registering more than 16.5% CAGR during the forecast period i.e., between 2024-2036. The rising incidences of identity theft and cyberattack, and the increasing initiatives by the government to promote cyber security will boost the market growth.. Read More

Which region will provide more business opportunities for growth of identity verification market in future?

The major players in the market are Experian plc, Mastercard International Incorporated, Equifax, Inc., Mitek Systems, Inc., LexisNexis Risk Solutions Group, and others. Read More

Identity Verification Market Analysis

Global Identity Verification Market TOC

Market Definition
1. Definition
2. Market Segmentation
Assumptions and Acronyms
Research Methodology
1. Research Process
2. Primary Research
3. Secondary Research
Executive Summary – Global Identity Verification Market
Market Dynamics
1. Market Drivers
2. Market Trends
Key Market Opportunities
Major Roadblocks for the Market Growth
Regulatory and Standards Landscape
Industry Risk Analysis
Impact of COVID-19 on the Identity Verification Market
Assessment on the Demand of Identity Verification
Competitive Landscape
1. Market Share Analysis, 2020
2. Competitive Benchmarking
3. Company Profiles
  1. Experian plc
  2. Mastercard International Incorporated
  3. Equifax, Inc.
  4. Mitek Systems, Inc.
  5. LexisNexis Risk Solutions Group
  6. Acuant, Inc.
  7. Onfido, Liquid Inc.
  8. Intellicheck, Inc.
  9. IDEMIA
Product Feature Analysis
Competitive Positioning
Global Identity Verification Market 2020-2030
1. Market Overview
2. By Value (USD Million)
Global Identity Verification Market – Segmentation Analysis 2020-2030
1. Component Type
  1. Solutions, 2020-2030F (USD Million)
    1. Document Verification, 2020-2030F (USD Million)
    2. Identity Authentication, 2020-2030F (USD Million)
    3. Digital Identity Verification, 2020-2030F (USD Million)
    4. AML Screening and Monitoring, 2020-2030F (USD Million)
    5. Business Verification, 2020-2030F (USD Million)
    6. Others, 2020-2030F (USD Million)
  2. Services, 2020-2030F (USD Million)
    1. Professional Services, 2020-2030F (USD Million)
    2. Managed Services, 2020-2030F (USD Million)
2. Verification Type
  1. Knowledge-Based Authentication, 2020-2030F (USD Million)
  2. SMS-Based Two Factor Authentication, 2020-2030F (USD Million)
  3. IC Chip-Based Authentication, 2020-2030F (USD Million)
  4. Database Solutions, 2020-2030F (USD Million)
  5. AL/ML-Based Authentication, 2020-2030F (USD Million)
  6. Biometric Authentication, 2020-2030F (USD Million)
  7. Others, 2020-2030F (USD Million)
3. Deployment Type
  1. Cloud, 2020-2030F (USD Million)
  2. On-Premise, 2020-2030F (USD Million)
4. Organization Size Type
  1. Small & Medium Enterprises, 2020-2030F (USD Million)
  2. Large Enterprises, 2020-2030F (USD Million)
5. End-User Industry Type
  1. BFSI, 2020-2030F (USD Million)
  2. Government & Defense, 2020-2030F (USD Million)
  3. Retail, 2020-2030F (USD Million)
  4. Healthcare, 2020-2030F (USD Million)
  5. IT & Telecom, 2020-2030F (USD Million)
  6. Entertaining & Gaming, 2020-2030F (USD Million)
  7. Transportation, Logistics, & Mobility, 2020-2030F (USD Million)
  8. Energy & Utility, 2020-2030F (USD Million)
  9. Hospitality, 2020-2030F (USD Million)
  10. Others, 2020-2030F (USD Million)
6. Region
  1. North America, 2020-2030F (USD Million)
  2. Europe, 2020-2030F (USD Million)
  3. Asia Pacific, 2020-2030F (USD Million)
  4. Latin America, 2020-2030F (USD Million)
  5. Middle East & Africa, 2020-2030F (USD Million)
7. Cross Analysis of Identity Verification End-User Industry w.r.t. Verification Type, 2020
North America Identity Verification Market
1. Market Overview
2. Market Value (USD Million)
3. Market Segmentation by:
  1. Component Type
    1. Solutions, 2020-2030F (USD Million)
      1. Document Verification, 2020-2030F (USD Million)
      2. Identity Authentication, 2020-2030F (USD Million)
      3. Digital Identity Verification, 2020-2030F (USD Million)
      4. AML Screening and Monitoring, 2020-2030F (USD Million)
      5. Business Verification, 2020-2030F (USD Million)
      6. Others, 2020-2030F (USD Million)
    2. Services, 2020-2030F (USD Million)
      1. Professional Services, 2020-2030F (USD Million)
      2. Managed Services, 2020-2030F (USD Million)
  2. Verification Type
    1. Knowledge-Based Authentication, 2020-2030F (USD Million)
    2. SMS-Based Two Factor Authentication, 2020-2030F (USD Million)
    3. IC Chip-Based Authentication, 2020-2030F (USD Million)
    4. Database Solutions, 2020-2030F (USD Million)
    5. AL/ML-Based Authentication, 2020-2030F (USD Million)
    6. Biometric Authentication, 2020-2030F (USD Million)
    7. Others, 2020-2030F (USD Million)
  3. Deployment Type
    1. Cloud, 2020-2030F (USD Million)
    2. On-Premise, 2020-2030F (USD Million)
  4. Organization Size Type
    1. Small & Medium Enterprises, 2020-2030F (USD Million)
    2. Large Enterprises, 2020-2030F (USD Million)
  5. End-User Industry Type
    1. BFSI, 2020-2030F (USD Million)
    2. Government & Defense, 2020-2030F (USD Million)
    3. Retail, 2020-2030F (USD Million)
    4. Healthcare, 2020-2030F (USD Million)
    5. IT & Telecom, 2020-2030F (USD Million)
    6. Entertaining & Gaming, 2020-2030F (USD Million)
    7. Transportation, Logistics, & Mobility, 2020-2030F (USD Million)
    8. Energy & Utility, 2020-2030F (USD Million)
    9. Hospitality, 2020-2030F (USD Million)
    10. Others, 2020-2030F (USD Million)
  6. Country
    1. United States
    2. Canada
Europe Identity Verification Market
1. Market Overview
2. Market Value (USD Million)
3. Market Segmentation by:
  1. Component Type
  2. Verification Type
  3. Deployment Type
  4. Organization Size Type
  5. End-User Industry Type
  6. Country
    1. United Kingdom
    2. Germany
    3. Italy
    4. France
    5. Spain
    6. Russia
    7. Netherlands
    8. Rest of Europe
Asia Pacific Identity Verification Market
1. Market Overview
2. Market Value (USD Million)
3. Market Segmentation by:
  1. Component Type
  2. Verification Type
  3. Deployment Type
  4. Organization Size Type
  5. End-User Industry Type
  6. Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Australia
    6. Rest of Asia Pacific
Latin America Identity Verification Market
1. Market Overview
2. Market Value (USD Million)
3. Market Segmentation by:
  1. Component Type
  2. Verification Type
  3. Deployment Type
  4. Organization Size Type
  5. End-User Industry Type
  6. Country
    1. Brazil
    2. Argentina
    3. Mexico
    4. Rest of Latin America
Middle East & Africa Identity Verification Market
1. Market Overview
2. Market Value (USD Million)
3. Market Segmentation by:
  1. Component Type
  2. Verification Type
  3. Deployment Type
  4. Organization Size Type
  5. End-User Industry Type
  6. Country
    1. GCC
    2. Israel
    3. South Africa
    4. Rest of Middle East & Africa
Analyst Review

Identity Verification Market Analysis

The global identity verification market is segmented by component type into solutions, and services, out of which, the services segment is anticipated to grow with the highest CAGR of 16.80% during the forecast period. Further, by verification type, the market is segmented into knowledge-based authentication, SMS-based two factor authentication, IC chip-based authentication, database solutions, AL/ML-based authentication, biometric authentication, and others. Out of these, the biometric authentication segment is anticipated to garner the largest revenue of USD 11702.06 Million by the end of 2030, up from a revenue of USD 2634.46 Million in the year 2020. By deployment type, the market is segmented into cloud, and on-premise, out of which, the cloud segment is anticipated to grow with the highest CAGR of 17.08% during the forecast period. By organization size, the market is segmented into small & medium enterprises, and large enterprises. Out of these, the small & medium enterprises segment is anticipated to grow with the highest CAGR during the forecast period. The market is also segmented on the basis of end-user industry into BFSI, government & defense, retail, healthcare, IT & telecom, entertainment & gaming, transportation, logistics, & mobility, energy & utility, hospitality, and others. Out of these, the BFSI segment is anticipated to register the largest revenue of USD 9852.40 Million by the end of 2030, up from a revenue of USD 2180.38 Million in the year 2020.

Our in-depth analysis of the global market includes the following segments:

Component Type	Solutions Services
Verification Type	Knowledge-Based Authentication SMS-Based Two Factor Authentication IC Chip-Based Authentication Database Solutions AL/ML-Based Authentication Biometric Authentication
Deployment Type	Cloud On-Premise
Organization	SMEs Large Enterprises

Identity Verification Market Analysis

Identity Verification Market Analysis

Browse Key Market Insights with Data Illustration:

Frequently Asked Questions (FAQ)

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Identity Verification Market Analysis

Identity Verification Market Analysis

Browse Key Market Insights with Data Illustration:

Frequently Asked Questions (FAQ)

How big is the identity verification market?

What are the factors driving the identity verification landscape?

Which region held the largest identity verification industry share?

Who are the key players in the identity verification sector?