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Identity Verification Market Trends

  • 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 Trends

Growth Drivers

  • Rising Incidences of Identity Theft and Cyberattack
  • Increasing Initiatives by the Government to Promote Cyber Security

Challenges

  • High Cost of Deployment

Identity Verification Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

16.5%

Base Year Market Size (2023)

USD 11.36 billion

Forecast Year Market Size (2036)

USD 82.72 billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:

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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