Global Identity Verification Market By Component (Solutions, Services), Deployment Mode (Cloud, On-Premises), Organization Size (SMEs, Large Enterprises), Vertical (BFSI, Government & Defense, Retail, Healthcare, IT & Telecom, Energy & Utilities, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa), Industry Trends and Forecast to 2027
Market Analysis and Insights: Global Identity Verification Market
Identity verification market is expected to reach USD 19.29 billion by 2027 witnessing the market growth at a rate of 15.36% in the forecast period of 2020 to 2027. Data Bridge Market Research report on global identity verification market analyses the growth of the industries constituting the different applications, collecting this information in the form of an extensive market report to help you in understanding and take advantage of the different market insights.
Identity verification is the security solution which utilizes the different security measures such as real-time physical document verification, unique identity verification and authentication of the corresponding individual to ensure that the unique identification of that individual can be established.
There has been a significant surge in the number of frauds detected in the different business models with a large number of these frauds related to identity theft and the subsequent data breaches caused by these actions. This factor is resulting in the positive growth rate for identity verification market for the forecasted period of 2020 to 2027. There is also the presence of a number of strict regulations and compliances from the different applicable verticals with most of them focusing on adoption of better measures for identity verification and security measures to ensure that the prevalence of data breaches can be lessened.
There are also a number of restrictive factors present in the market, one of the significant one of which is the lack of budgets allocated for the adoption of identity verification solution and services which is expected to act as a restraint for the market growth.
This market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions and technological innovations in the market. To gain more information on Data Bridge Market Research identity verification market contact us for an Analyst Brief our team will help you take an informed market decision to achieve market growth.
Global Identity Verification Market Scope and Market Size
Global identity verification market is segmented on the basis of component, deployment mode, organization size and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Identity verification market on the basis of component has been segmented as solutions and services.
Based on deployment mode, the market has been segmented as cloud and on-premises.
On the basis of organization size, the market consists of small & medium-sized enterprises (SMEs) and large enterprises.
Identity verification has been segmented on the basis of vertical into banking, financial services & insurance (BFSI), government & defense, retail, healthcare, it & telecom, energy & utilities and others.
Identity Verification Market Country Level Analysis
Global identity verification market is analysed and market size, volume information is provided by country, component, deployment mode, organizations size and vertical as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific in the Asia-Pacific, Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa as a part of Middle East and Africa, Brazil, Argentina and Rest of South America as part of South America.
North America is expected to account for the largest market share for identity verification market, while the highest growth rate is expected to be prevalent with the Asia-Pacific region. The major factors behind these positions of the different regions are the significant digitalization trend and adoption of advanced computing technological utilization from the North America region, whereas the increased adoption rate for better security measures from SMEs of Asia-Pacific region is resulting in the highest growth rate.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Identity Verification Market Share Analysis
Global identity verification market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to identity verification market.
The major players covered in the report are Jumio, Trulioo, iDenfy, Gemalto NV, Authenteq, Experian Information Solutions, Inc., LexisNexis, Equifax, Inc., Mitek Systems, Inc., Onfido, Acuant, Inc., IDEMIA, IDMERIT, TransUnion LLC, DataFlow Verification Services (Hong Kong) Ltd., Melissa Inc., IDOLOGY, GB Group plc among other players domestic and global. Market share data is available for Global, North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Identity Verification Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.