Identity Verification Market to Reach US$ 22.9 Billion by 2027 | CAGR of 17.6%

According to IMARC Group's latest report, tittle "Identity Verification Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027." the global identity verification market reached a value of US$ 8.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.9 Billion by 2027, exhibiting a CAGR of 17.6% during 2022-2027.

Identity verification is a security service solution employed in corporate, private, and governmental institutions for verifying consumer information accurately. It is also utilized for examining the credibility of various documents, such as identity cards, driving license, passport and know your customer (KYC), to avoid fraudulent activities. Currently, identity verifications methods can be categorized into different types, including knowledge-based, two-factor, database, online, and biometric. 

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/identity-verification-market/requestsample

Market Report/Drivers:

The increasing need for curbing fraudulent activities across industries represents one of the primary factors driving the global identity verification market growth. For instance, the banking, financial services, and insurance (BFSI) industry extensively utilizes identity verification solutions to ensure secure and seamless transactions. In line with this, the rising prevalence of cyber-attacks is contributing to the market growth further. Other factors, such as the increasing integration of the Internet of Things (IoT) and cloud-based services in identity verification systems and the implementation of stringent governmental regulations, are creating a positive outlook for the market. 

Key Market Segmentation:

Based On Type:

Biometrics
Non-Biometrics

Based On Component:

Solutions
Services

Based On Deployment Mode:

On-premises
Cloud-based

Based On Organization Size:

Small and Medium-sized Enterprises
Large Enterprises

Based On Vertical:

BFSI
Government and Defense
Healthcare and Life Sciences
Retail and E-Commerce
IT and Telecommunication
Energy and Utilities
Others

 Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Competitive Landscape:

Acuant Inc.
AuthenticID Inc.
Equifax Inc.
Experian PLC
Intellicheck Inc.
Jumio Corporation
Mastercard Inc.
Mitek Systems Inc.
Onfido
Thales Group
TransUnion and Trulioo.

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/identity-verification-market

Key highlights of the report:                                                             

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Website: https://www.imarcgroup.com/

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