Press release
Identity Verification Market Forecast 2035 | Key Driver, Restraint, and Growth Opportunity
Identity Verification Market Forecast 2035 | Key Driver, Restraint, and Growth Opportunity
Get the Detailed Industry Analysis (including the Table of Contents, List of Figures, and List of Tables) - from the Identity Verification Market Research Report: https://marketgenics.co/press-releases/identity-verification-market-76027
Global Identity Verification Market Forecast 2035:
According to the report, the global identity verification market is likely to grow from USD 12.3 Billion in 2025 to USD 42.5 Billion in 2035 at a highest CAGR of 13.2% during the time period. Multiple factors drive significant growth in the global Identity Verification market including increased demand for digital onboarding, expanded remote workforces, increased cyber threats, and new global compliance regulations.
Organizations are increasingly looking for strong solutions that provide real-time identity verification, biometric checks, and AI-assisted fraud detection. These platforms support safe access, operational agility, and compliance. In March 2025, VeriSecure launched a decentralized identity platform utilizing blockchain to support tamper-proof credentialing and user privacy. In August 2025, AuthentiChain launched a KYC-as-a-Service solution focused on cross-border compliance requirements demonstrating the enormous shift that is underway toward seamless and scalable identity verification solutions.
The U.S. Department of Commerce's 2025 Digital Identity & Security Report projects that U.S. enterprises spent over USD 30 billion on identity verification solutions. This rapid emergence of identity verification as a digital trust, compliance and automation focal area is expected to anchor ongoing growth in the Identity Verification market.
"Key Driver, Restraint, and Growth Opportunity Shaping the Global Identity Verification Market"
The market for identity verification is gaining momentum due to the rapid adoption of AI-enabled biometric systems, cross-platform identity orchestration, and cloud-native verification solutions in sectors ranging from finance and healthcare to logistics. For example, in April 2025, TrustID launched a suite of multi-factor authentication tools combining facial recognition, behavioral biometrics, and document verification that streamline onboarding and strengthen fraud prevention. This is an indicator that the industry is moving toward more intelligent, adaptive, and secure identity systems.
However, legacy infrastructure, fractured data silos, and the challenges of coordinating identity protocols between different systems continue to inhibit institutions. In early 2025, market leaders in areas such as digital banking and supply chain management successfully navigated these integration challenges and transitioned to unified identity verification ecosystems that respond to changing compliance and security requirements.
The future of the industry includes opportunities for implementing decentralized identity models, optimizing integration with zero-trust architectures, and using identity data for stakeholder insights. For example, in July 2025, IDLink announced its partnership with leading CRM and HR tech platforms to provide organizations with the capacity for real-time identity monitoring and dynamic access controls into enterprise workflows. This level of interoperability and contextualization is expected to fundamentally change how organizations think about trust, compliance, and the user experience, and the trajectory of the identity verification system.
To know more about the Identity Verification Market - Download our Sample Report: https://marketgenics.co/download-report-sample/identity-verification-market-76027
Regional Analysis of Global Identity Verification Market
North America leads the way in the marketplace largely due to popularity of AI-authentication technology, well-developed hybrid work ecosystems, and mandated compliance with regulation. In August 2025, Microsoft expanded its identity verification service in an established relationship with an extensive number of major financial institutions, enhancing North America's status as the leader in securing digital identity.
Asia Pacific is the fastest growing region, driven by the mandates associated with digital transformation, the growth in mobile, and initiatives undertaken by the government in support of identity. In June 2025, India announced the launch of a biometric verification platform to support public services, positioned as the region moved toward creating secure, inclusive digital identities.
Europe is experiencing stable regional growth stemming from strong data privacy laws and the hunger for privacy-first solutions. In May 2025, the UK's cybersecurity agency announced an expanded industry partnership plan to deploy a decentralized identity verification service in line with EU digital identity requirements, which promotes privacy and user control.
Prominent players operating in the global identity verification market include prominent companies such as AU10TIX, Experian plc, GB Group plc (GBG), IDEMIA Group, IDnow GmbH, Jumio Corporation, LexisNexis Risk Solutions, LSEG Data & Analytics, Mitek Systems, Inc., Onfido (acquired by Entrust), Persona Identities, Inc., Shufti Pro, Socure, Inc., Sumsub, Thales Group (Gemalto), TransUnion, Trulioo, Veriff, along with several other key players.
Buy Now: https://marketgenics.co/buy/identity-verification-market-76027
The global identity verification market has been segmented as follows:
Global Identity Verification Market Analysis, by Component
Solutions
Biometric verification systems
Document verification platforms
Database verification tools
Video-based verification
Two-factor/Multi-factor authentication
Others
Services
Professional services
Managed services
Global Identity Verification Market Analysis, by Type of Verification
Biometric Verification
Fingerprint recognition
Facial recognition
Iris recognition
Voice recognition
Palm vein recognition
Others
Non-Biometric Verification
Knowledge-based authentication
Document verification
Database verification
OTP-based verification
Others
Global Identity Verification Market Analysis, by Deployment Mode
On-Premises
Cloud-Based
Public cloud
Private cloud
Hybrid cloud
Global Identity Verification Market Analysis, by Organization Size
Large Enterprises
Small and Medium-sized Enterprises (SMEs)
Global Identity Verification Market Analysis, by Technology
Artificial Intelligence (AI) & Machine Learning
Blockchain-based verification
Optical Character Recognition (OCR)
Near Field Communication (NFC)
Liveness Detection
Biometric sensors
Others
Global Identity Verification Market Analysis, by Verification Channel
Mobile-based verification
Web-based verification
Kiosk-based verification
API integration
Others
Global Identity Verification Market Analysis, by Use Case
Customer Onboarding (KYC/eKYC)
Age Verification
Access Control
Transaction Authentication
Regulatory Compliance
Fraud Prevention
Others
Global Identity Verification Market Analysis, by End-use Industry
Banking, Financial Services & Insurance (BFSI)
Account opening & KYC compliance
Transaction authentication
Credit card issuance
Loan application processing
Insurance claim verification
Anti-money laundering (AML) compliance
Others
Government & Defense
Border control & immigration
National ID programs
E-governance services
Voter identification
Law enforcement
Social welfare distribution
Others
Healthcare
Patient identification
Medical records access
Prescription verification
Telemedicine authentication
Others
Retail & E-commerce
Online customer registration
Age-restricted product sales
Payment authentication
Return/refund verification
Others
Telecommunications
SIM card registration
Subscriber onboarding
Contract verification
Account recovery
Others
Travel & Hospitality
Real Estate
Education
Gaming
Other End-use Industries
Global Identity Verification Market Analysis, by Region
North America
Europe
Asia Pacific
Middle East
Africa
South America
About Us
MarketGenics is a global market research and management consulting company empowering decision makers across healthcare, technology, and policy domains. Our mission is to deliver granular market intelligence combined with strategic foresight to accelerate sustainable growth.
We support clients across strategy development, product innovation, healthcare infrastructure, and digital transformation.
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