- The rising adoption of digital payment platforms, online banking, and financial inclusion initiatives across emerging economies is significantly boosting the demand for electronic know-your-customer (e-KYC) systems
- Governments and regulatory bodies are increasingly mandating e-KYC to reduce fraud, ensure customer data accuracy, and improve efficiency in customer onboarding. This regulatory push, combined with the growing penetration of smartphones and internet access, is further accelerating market expansion across regions such as Asia-Pacific, North America, and Europe
- North America dominated the e-KYC market with the largest revenue share in 2024, driven by stringent regulatory mandates, increasing digital banking adoption, and the demand for real-time identity verification solutions
- Asia-Pacific region is expected to witness the highest growth rate in the global e-KYC market market, driven by increasing internet penetration, rising mobile banking adoption, and growing demand for remote customer verification across emerging economies such as India, Indonesia, and the Philippines
- The identity authentication and matching segment dominated the market with the largest market revenue share in 2024, primarily driven by the surge in digital banking and remote onboarding practices. Financial institutions and government agencies are increasingly investing in robust authentication tools to combat identity fraud and ensure regulatory compliance. The demand for seamless user verification while maintaining high security standards has positioned identity authentication as a critical component of e-KYC frameworks
