The GCC Identity Verification Market is expected to grow with a CAGR of 11.9% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.
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The GCC identity verification market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to a favorable market scenario.
The major players in the GCC identity verification market are introducing a strong range of product providers, launching new products, and adopting strategic initiatives such as acquisition, agreement, business expansion, awards, and recognition. This helped companies to maximize sales with an enhanced product portfolio.
Elm Company is the dominating player in the GCC identity verification market. Some of the other players in the market are Experian Information Solutions, Inc. (A Subsidiary of Experian plc), LexisNexis Risk Solutions Group., Onfido, GB Group plc ('GBG'), Acuant, Inc., IDEMIA, Thales Group, Shufti Pro, Uqudo, Western Union Holdings, Inc., Plaid Inc., IDMERIT., AccuraTechnolabs, Ping Identity, IDnow., AML UAE., Stripe, Refinitiv, Trulioo., QlikTech International AB, among others.
Elm Company was founded in 1986 and is headquartered in Riyadh, Kingdom of Saudi Arabia. It has public ownership. The company focuses on providing of innovative digital solutions to its customers. The company operates in various business segments, such as digital business, business process outsourcing, and professional services, out of which digital business is the market-focused segment. The company has several product categories, including professional services, digital business, and business outsourcing, out of which digital business is the market-focused category.
The company has a wide presence across the Middle East and Africa. Some of the subsidiaries of the company are Emdad Al Khebrat Company (KSA), Elm Technical Investment Company (KSA), Future Resources Company (KSA), Umrah Premium Services Company (KSA), and Asdam Digital Company (U.A.E.), among others.
Refinitiv is headquartered in London, U.K. It has private ownership. The company focuses on providing a solution for data verification for its customers. The company has several product categories, including asset management, investment banking, risk and compliance, trading, and wealth management, out of which risk and compliance is the market-focused category.
The company has a presence in the Americas, Europe, Asia-Pacific, the Middle East and Africa.
Thales Group was founded in 2000 and is headquartered in Paris, France. It has public ownership. The company focuses on designing and manufacturing aerospace, transport and digital identity, and consumer security solutions. The company has several solution categories, including defense and security, digital identity and security, aerospace, space, and transport, out of which digital identity and security is the market-focused category.
The company has a presence across North America, South America, Europe, the Middle East and Africa, and Asia-Pacific. Some of the subsidiaries of the company are Gemalto (Netherlands), Thales Australia (Australia), Thales Alenia Space (France), SafeNet (U.S.), and Thales Air Defence (U.K), among others.
GCC Identity Verification Market – Industry Trends and Forecast to 2029