Identity Verification Market Size

  • Report ID: 3713
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

Global Identity Verification Market TOC

  1. Market Definition
    1. Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
  4. Executive Summary – Global Identity Verification Market
  5. Market Dynamics
    1. Market Drivers
    2. Market Trends
  6. Key Market Opportunities
  7. Major Roadblocks for the Market Growth
  8. Regulatory and Standards Landscape
  9. Industry Risk Analysis
  10. Impact of COVID-19 on the Identity Verification Market
  11. Assessment on the Demand of Identity Verification
  12. 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
  13. Product Feature Analysis
  14. Competitive Positioning
  15. Global Identity Verification Market 2020-2030
    1. Market Overview
    2. By Value (USD Million)
  16. 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
  17. 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
  18. 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
  19. 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
  20. 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
  21. 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
  22. Analyst Review

Identity Verification Market Size

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. In the year 2024, the industry size of identity verification is evaluated at USD 12.86 billion. The growth of the market can be attributed to the growing number of fraudulent activities, such as identity theft & cyberattack worldwide, and the rising awareness amongst businesses as well as governmental institutions for the adoption of identity theft protection services to avoid such fraudulent activities. According to the statistics by the Consumer Sentinel Network of the Federal Trade Commission (FTC) of the United States, the total number of identity theft cases recorded in the United States in the year 2020 was 1387615 cases, registering the highest share of 29.39% amongst all other categories. Besides this, with the surge in internet use globally, and the rise in the number of users using online banking services, there is a growing need amongst individuals to safeguard their personal data, which also includes loads of financial information. The identity verification systems provide cyber security by helping businesses safeguard their customer’s personal data, such as names, addresses, email IDs, passwords, and others from cyber criminals and also help in fraud detection and prevention. Such factors are therefore anticipated to drive the growth of the global identity verification market in the coming years.

The market is also anticipated to grow on account of the growing initiatives of the government of countries worldwide to form stringent policies and address the rising prevalence of online security. Several nations around the globe are increasingly opting for solutions, such as know your customer (KYC) and anti-money laundering (AML). Moreover, with the increasing trends of bring your own device (BYOD), organizations are working on formulating policies and standards to adopt zero trust security features.


Identity Verification Market Graph
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Author Credits:  Abhishek Verma


  • Report ID: 3713
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

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

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.

North America industry is anticipated to garner the largest revenue share of 38% by 2036, attributed to availability of stringent government norms and policies to reduce cybercrime activities, as well growing prevalence of identity thefts in the region.

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