Global Identity Verification Market is expected to grow with the CAGR of 13.0% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global identity verification market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global identity verification market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.

For instance,

• In October 2020, TransUnion LLC launched document verification and facial recognition solution in the U.K. to help businesses combat identity fraud. This new solution enables real-time, online verification through the customer’s device and also helps to strengthen fraud controls and improve operational efficiencies. This has helped the company to enhance their offerings and better meet consumers demand in the market.

Thales Group is the dominating players in global identity verification market and the other players in the market are Experian Information Solutions, Inc. (a subsidiary of Experian plc), LexisNexis Risk Solutions Group, ZIGNSEC AB, AccuraTechnolabs, GB Group plc ('GBG'), Precise Biometrics AB, Finansiell ID-Teknik BID AB, IDEMIA, Equifax, Inc., Mitek Systems, Inc., PENNEO A/S, Jumio, Acuant, Inc., TransUnion LLC, Authenteq, Onfido, ForgeRock, Okta, Stripe and Ping Identity among others.

Thales Group

Thales Group headquartered in Paris, France was founded in year 1893. The company is engaged in manufacturing and providing high technology solutions to the customers. The company offers wide range of market categories such as defence and security, digital identity & security, aerospace, space, transport, market specific solutions out of which digital identity & security is the market focused product category. The company has presence in Americas, Asia-Pacific, and Europe. The company also generates revenue from subsidiaries such as Thales Alenia Space (France), Gemalto (the Netherlands), Thales Australia (Australia), Thales Air Defence (U.K.), Thales AVS France SAS (France) and others.

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.

IDEMIA

IDEMIA headquartered in Courbevoie, France. The company is engaged in developing and providing products and services of augmented identity to the customers. The company offers wide range of product categories such as financial institutions, mobile operators, biometric devices & automotive, public security & identity, identity & security out of which financial institutions is the market focused product category. The company has wide global presence across the North America, South America, Asia-Pacific, Europe and Australia.

For instance,

• In January 2021, IDEMIA wins the U.S. Postal Service Identity Verification Contract from the United States Postal Service (USPS) and Postal Inspection Service (USPIS). Under this contract, the company will provide the U.S. communities with a portfolio of identity solutions and services. Under this, the company will provide access identity verification services at U.S. Post Office locations. This will helped the company to enhance its customer base in the market.     

Experian Information Solutions, Inc. (a subsidiary of Experian plc)

Experian Information Solutions, Inc. (a subsidiary of Experian plc) is headquartered in California, U.S. which was founded in 1803. The company is engaged in manufacturing and providing data management solutions and services to the customers. The company deals in business segments which are business-to-business and consumer services out of which consumer services is the market focused business segment. The company offers wide range of product categories such as automotive, business information services, consumer information services, data quality, decision analytics, global consulting practice, health, marketing services out of which decision analytics is the market focused product category.

The company has wide global presence across the North America, South America, Asia-Pacific, Europe, Middle East and Africa, generates revenue from subsidiaries such as Experian South Africa (Pty) Ltd (South Africa), Experian Österreich GmbH (Germany), Cheetah Digital Germany Gmbh (Germany), Experian Colombia SA (Columbia), Experian Services India Private Limited (India) and others.

For instance,

• In November 2020, Experian Information Solutions, Inc. (a subsidiary of Experian plc) acquired Tapad, a provider of digital identity resolution. This acquisition enabled the company to help market players to create an enhanced experience for their consumers with continuing to protect and secure their privacy. This acquisition helped the company to enhance their digital offerings for advertisers and to increase their customer base.