LexisNexis Risk Solutions Group, Thales Group, and Equifax, Inc., Dominated the Global Identity Verification and Authentication Market in 2020

Global Identity Verification and Authentication Market is expected to grow with a CAGR of 16.9% in the forecast period of 2021 to 2028. The years considered for the study are as mentioned below.

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The global identity verification and authentication market is fragmented, including a specific number of key players and local players. The market has witnessed increased strategic developments owing to favourable market scenarios.

The major players dealing in the global identity verification and authentication market are introducing a strong hardware and software portfolio. This helped companies to maximize sales with an enhanced service portfolio.

For instance,

  • In October 2020, Thales Group launched an identity verification suite solution. The key feature of this solution launch was its secure biometric capabilities. Moreover, this solution was a 100% automated solution using artificial intelligence and provided privacy, high-level security, and deployment flexibility. This solution helped the company to strengthen its product portfolio

LexisNexis Risk Solutions Group, Thales Group, Equifax, Inc. dominate the global identity verification and authentication market. The other key players existing in the market include  AccuraTechnolabs, GB Group plc, Experian Information Solutions, Inc., IDkollen i Sverige AB, IDEMIA, Precise Biometrics AB, Finansiell ID-Teknik BID AB, PENNEO A/S, Mitek Systems, Inc., TransUnion LLC, Authenteq, Acuant, Inc., Jumio, Onfido, Okta, Ping Identity, ZIGNSEC AB and among others.

Identity Verification and Authentication Market LexisNexis Risk Solutions Group

LexisNexis Risk Solutions Group is headquartered in Georgia, the U.S., which was established in 1997. The company is engaged in designing identification and verification solutions for the consumer. The industries categories of the company include financial services, insurance, corporation, and non-profits. Financial services, corporations, and non-profits are market-focused categories.

  • In March 2021, LexisNexis Risk Solutions Group completed the acquisition of Emailage. The key feature of this acquisition was to strengthen identity verification capabilities. By this acquisition, the company was able to improve its market position

The company has a presence in North America, Europe, Asia-Pacific, South America, Middle East.                                   

THALES GROUP

Thales Group is headquartered in Paris, France, which was established in 2000. The company is engaged in designing and manufacturing aerospace, transport, and digital identity and security solutions for the consumer. The business segments include aerospace, transport, defense and security, digital I&S, out of which the market-focused segment is digital I&S.

The solution categories of the company include defense and security, digital identity and security, aerospace, space, and transport, out of which digital identity and security is a market-focused category.

  • In October 2021, Thales Group launched a voice biometric authentication solution. The key feature of this solution was improved fraud identity capabilities and knowledge-based authentication capabilities. This solution was designed for mobile id verifications for call centre operators. This solution helped the company to expand its market and improve its solution portfolio

The company has a presence in North America, Europe, Asia-Pacific. In addition, the company also generates its revenue from various subsidiary companies such as Gemalto (Netherlands), Thales Australia (Australia), Thales Alenia Space (France), Safe Net (U.S.), Thales Air Defence (U.K.), among others.

EQUIFAX, INC.

Equifax, Inc. is headquartered in Georgia, the U.S., which was established in 1899. The company is engaged in manufacturing and providing data, analytics, and technology solutions to the customer. The company's business segments include U.S. information solutions, workforce solutions, international and global consumer solutions, and workforce solutions are market-focused segments. The market-focused products are personal, government and business.

  • In January 2021, Equifax, Inc. invested USD 640 million to acquire Kount, a fraud prevention and digital ID firm. This deal will enable the company to boost its global presence in digital ID and fraud prevention capabilities. This will help the company to enhance its offerings and presence in the market

The company has a presence in North America, Europe, Asia-Pacific, South America. In addition to it, the company also generates its revenue from various subsidiary companies such as Equifax Canada (Canada), Trusted ID (U.S.), Veda NZ (New Zealand), Equifax Workforce Solutions (U.S.), TDX Group (U.K.), and others.