Global Identity Verification Market is Expected to Grow at 13.0% in the Forecast Period of 2021 to 2028

Identity Verification Market is forecasted to grow at 13.0% with factor such as to prevent the organization from fraudulent activities.

Identity verification market has shown an exceptional penetration in countries such as India. Growing government initiatives for verification process is boosting the growth in developed countries. In developing countries, increasing BYOD trend across enterprises, is creating opportunity for the global identity verification market.

Identity Verification Market Scenario

According to Data Bridge Market Research, the market for identity verification in North America has the highest market share, followed by Europe and Asia-Pacific. Market leader is Thales Group, which accounts an estimated market share of approximately 20% to 30%, globally. The company has gained outstanding sales through its wide range of identity verification and biometric solutions.

For instance,

  • In October 2020, Thales Group announced the launch of their identity verification suite. This identity verification suite (IDV) minimizes ID fraud risks by verifying document authenticity. This new suite is a secure biometric solution for customer onboarding. This will help the company to enhance their offering and to better meet the consumers need in the market.

Identity Verification Market

Trends Impacting the Market

Now the question is which other regions Thales Group, IDEMIA, and Experian Information Solutions, Inc. (a subsidiary of Experian plc) are targeting? Data Bridge Market Research has estimated moderate growth in North America identity verification market and the market leaders targeting U.S., and Canada to be their next revenue pockets for 2021.

The identity verification market is becoming more competitive every year with companies such Thales Group, IDEMIA, and Experian Information Solutions Inc. (a subsidiary of Experian plc) as they are the market leaders for identity verification market. Data Bridge Market Research new reports highlight the major growth factors and opportunities in the identity verification market.

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Identity Verification Market Development

  • In November 2020, Experian Information Solutions, Inc. (a subsidiary of Experian plc) acquired Tapad which is a provider of digital identity resolution. This acquisition enabled the company to help marketers create a more relevant experience for consumers, while continuing to protect consumer privacy. This acquisition helped the company to enhance their digital offerings for advertisers and to increase their customer base

Scope of the Identity Verification Market

Global identity verification market is segmented on the basis of countries into the U.S., Canada and Mexico, Germany, France, Russia, U.K., Italy, Spain, Netherlands, Belgium, Switzerland, Turkey, and Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, UAE, Saudi Arabia, Israel, Egypt and Rest of Middle East and Africa.

  • All country based analysis of the global identity verification market is further analysed based on maximum granularity into further segmentation. On the basis of component, the identity verification market is segmented into solution and services. On the basis of type, the identity verification market has been segmented into non-biometrics and biometrics. On the basis of deployment mode, the identity verification market has been segmented into on-premise and cloud. On the basis of organization size, the identity verification market has been segmented into large enterprises and SME’s. On the basis of vertical, the identity verification market has been segmented into BFSI, government & defense, energy & utilities, retail & ecommerce, IT & telecom, healthcare, gaming and others

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Key Pointers Covered in Identity Verification Market Industry Trends and Forecast to 2028

  • Market Size
  • Market Standards and Changes
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Thales Group
  • Experian Information Solutions, Inc.
  • TransUnion LLC.
  • LexisNexis Risk Solutions Group.
  • AccuraTechnolabs
  • Acuant, Inc.
  • Authenteq
  • Equifax, Inc.
  • Finansiell ID-Teknik BID AB
  • ForgeRock
  • GB Group plc ('GBG')
  • Jumio
  • Mitek Systems, Inc.
  • Okta.
  • Onfido
  • Ping Identity.
  • Precise Biometrics AB
  • ZignSec AB
  • Stripe

Above are the key players covered in the report, to know about more and exhaustive list of identity verification companies’, contact us

Research Methodology: Global Identity Verification Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Managers, Directors, Government, Defense Agencies, Banking and Financial Institutions, Consultants
  • Supply Side: Service Providers, Product Managers, Product Designer, Marketing Managers, C-Level Executives, Market Intelligence, and Regulatory Affairs Managers among others.

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