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Identity Verification Market

Market Insights on Identity Verification covering sales outlook, demand forecast & up-to-date key trends

Identity Verification Market Analysis By Component (Solutions, and Services), Type (Biometrics, and Non-Biometrics), Deployment Mode (On-Premises, and Cloud), Organization Size (SMEs, and Large Enterprise), Vertical (BFSI, Government and Defence, Healthcare & Life Sciences, Retail and eCommerce) & Region - Forecast 2022 - 2032

Identity Verification Market Outlook (2022-2032)

[324 Pages Report] The identity verification market is predicted to grow at a robust CAGR of 14.8%. The market is estimated to reach a value of nearly US$ 40 Bn by 2032, scaling up from US$ 8.6 Bn in 2021.

“Digitization of services provided to the general citizens in every part of the world has increased the demand for Identity verification technologies and supports the rapid growth of global identity verification market.”

With the advancement in identity recognition hardware and digital software technologies, virtual ID verification is getting more accurate and easier day by day. Awareness about the security and benefits associated with self-assessment identity verification is predicted to drive the identity verification market across the globe in the coming years.

Attributes

Details

Global Identity Verification Market Value (2022)

US$ 10 Bn

Global Identity Verification Market Value (2032)

US$ 40 Bn

Global Identity Verification Market Growth Rate (2022-2032)

14.8%

What is the Covid-19 Impact on Global Identity Verification Market?

Like all the sectors of digital business, the global market for identity verification market was actually accelerated to some degree during the pandemic years. With the outbreak of the Covid-19 pandemic, almost all interactions and transactions in the physical world were restricted to curb the spread of infections.

Virtual ID verification of customers by the service providers emerged as a suitable alternative for physical Identity verification.

The essential service providers such as banking, ecommerce, healthcare and others rely immensely on secure identity verification to forward their services to the customer base. The lockdown during the Covid-19 also expanded the digital reach to areas outside the urban cities, increasing the customer base of identity verification companies.

However, the overall demand for identity verification dipped slightly due to the slowing down of businesses requiring any type of ID verification. This trend is reflected by the slight decrease in the CAGR of the identity verification market from 16.7% in the pre-pandemic years.

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What are the Different Market Dynamics driving the Global Identity Verification Market?

“The growing trend of smart services by various business entities for their customers is poised to increase the demand for virtual identity verification market trends in the coming decade.”

The growing volume of internet processes like financial transactions and online on-boarding activities has increased the requirement for business identity verification in the global market. This rise in demand for online services has given way to the establishment and growth of 3rd party identity verification companies in different parts of the world.

The digital literacy count in all countries is increasing day by day, making people capable of using several types of online services. A growing number of online customers of different online services is propelling the growth of the online identity verification market in developing nations as well.

Investment in developing infrastructure for providing internet services to households has reduced the cost of data in many economies. The availability of cheap data has exponentially increased the traffic on online websites has made the process of confirming someone’s Identity more important than ever.

Rising incidences of fraudulent paper works and forged personal identity certificates is the main reason for which secure identity verification is sought by many institutions operating in the digital space. In the coming days, the sales of identity verification solutions are projected to grow exponentially, summing up to a value of US$ 18.6 Bn by the end of the year 2026.

What are the Major Challenges Experienced by the Identity Verification Market Players?

The availability of hardware and digital infrastructure for the successful completion of personal ID verification is the most important requirement of the global identity verification market. But the unavailability of sufficient infrastructure in some parts of the world has limited the growth of any type of virtual ID verification services.

Linguistic and trust barriers are anticipated to pose some challenges to the establishment of a market to verify someone’s Identity through outsourcing models. As per the market analysis report, this can hamper the wider adaptability of identity verification market trends in the long run.

Digital literacy in low-income countries is very less that makes it difficult for top ID verification companies to penetrate the market. The lower level of financial literacy is also another major reason for the less presence of KYC verification companies in such regions.

Comparative View of Adjacent Identity Verification Market

The global identity verification market providing AML identity verification services has made it easier for businesses requiring it. This outsourcing service to verify people’s identity has provided them more room to focus on core business activities.

Global Identity Verification Market :

Attributes

Global Identity Verification Market

CAGR (2022-2032)

14.8%

Market Value (2027)

US$ 21.2 Bn

Growth Factor

Rising volume of banking transactions and other services has created a huge demand for online verification.

Opportunity

Stringent regulations to curb identity threat can create greater opportunities for the global market.

Key Trends

Starting of microfinance companies in Asia Pacific and Latin America countries has created a huge market.

Global Consumer IAM Market :

Attributes

Global Consumer IAM Market

CAGR (2022-2032)

15%

Market Value (2027)

US$ 19 Bn

Growth Factor

To provide seamless and secure services the online service companies rely on IAM technologies.

Opportunity

Authentication of identity through non-digital channels has augmented the reliability of consumer IAM services.

Key Trends

Rapid commercialization of emerging economies has increased IAM demand in APAC.

Global e-KYC Market :

Attributes

Global e-KYC Market

CAGR (2022-2032)

23.4%

Market Value (2027)

US$ 1.5 Bn

Growth Factor

Banking institutions have expanded their online presence for better service experience through e-KYC methods.

Opportunity

With the rise in personal income the demand for account opening has increased the e-KYC process.

Key Trends

To avoid the capital cost incurred by the physical verification of customers banks are adopting e-KYC.

Innovation and wide use of electronic ID cards (eID) and attendance verification devices have created a huge demand for ID verification services in offline mode. Adoption of such new devices is anticipated to augment the global identity verification market immensely in the future.

E-Governance is an emerging concept in the present world getting adopted by developed and developing nations alike. For the dissemination of various public services, the remote ID verification by government organizations for social security cards, licenses, and many more have increased manifold in the past decade. As per the report, in the forecast years, these services are expected to increase the demand for Identity verification through top Identity verification companies.

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What is the Growth Outlook for the Global Identity Verification Market According to Different Segments?

“Innovations in biometric recording equipment and devices have boosted the demand for Identity verification solutions over digital platforms.”

As virtual Identity verification is a very dynamic process involving multiple user interfaces and record-keeping, so the sales of Identity verification solutions are higher than the services segment. The demand for Identity verification solutions increased in the past decade owing to concerns over data privacy issues in Europe and other parts of the world as well.

The sales of identity verification solutions segment are estimated to grow at a CAGR of 14.2% over the forecast time frame.

Based on the Organization Size, Which are the Prominent Users of the Global Identity Verification Market?

At the present time, there are several end users of the secure identity verification software and users contributing to the revenue growth of the global identity verification market.

However, small and medium enterprises (SMEs) have emerged to be the major organizations creating the highest demand for Identity verification solutions.

As these organizations are more prone to cyber frauds and online hacking activities, so they prefer to outsource to 3rd party identity verification companies as well.

Which is the Major Segment among the different Verticals of the Global Identity Verification Market?

Over the years of innovation and use of AML identity verification technologies, it has turned out to be an important part of many service sectors in the present market. The demand for Identity verification solutions is observed to be highest in banking, financial services and insurance (BFSI) companies. The CAGR recorded for the BFSI segment is nearly 14.7% during the forecast period.

Digitization of the banking processes for a better consumer experience has increased the sales of identity verification solutions to the BFSI business entities.

Financial institutions are also in search of better security solutions free from external vulnerabilities and hackers that are anticipated to provide a great opportunity for developing new self-assessment identity verification software, further boosting the global market.

What is the Performance of Global Identity Verification Market in Different Geographical Regions?

Region

CAGR (2022 to 2032)

United States (US)

14.7%

United Kingdom (UK)

13.8%

China

14.1%

Japan

13.2%

South Korea

12.4%

North America contributes the highest revenue share in the global identity verification market owing to the presence of major remote identity verification companies. The provision of smart cities and smart infrastructure models has created a strong demand for identity verification solutions and services in this geographical region.

Higher living standards and sufficient knowledge about the digital platforms among the general population have made the USA a lucrative market for sales of identity verification solutions. As per the market report, the USA is expected to turn into a US$ 14.2 Bn market in 2032.

Among the broad geographical regions, Asia Pacific is expected to record the highest CAGR in the identity verification market than others during the forecast period of 2022 to 2032. China, Japan and South Korea are the leading economies in the regional identity verification market together, accounting for up to 16 to 17% of the global market.

The sales of identity verification solutions are growing impressively owing to the presence of large software companies for outsourcing purposes.

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How Strong is the Competitive Landscape for the Global Identity Verification Market?

There are a number of regional and global market players that have severely fragmented the global identity verification market in the present time. Moreover, extension of the software companies towards the business of online identity check and verification activities has rendered the global market than before. Acquiring of contracts for large institutions requiring ID verification solutions in huge amount is the major strategy adopted by software companies to make a profitable business out of sales of identity verification solutions.

What are the Recent Developments in the Field of Identity Verification Market?

  • The global identity verification software company of England Onfido partnered with one of the multinational telecommunication company Orange in April 2021. The target is to automate the whole verification process by Orange Flex by making the mobile plan easier and faster. Onfido will assist in providing artificial intelligence (AI) and face biometrics for better convenience.
  • The US based financial services firm SWBC collaborated with Fincity in January 2021 that will help it to meet the requirements of National Automated Clearing House Association (NACHA) for allowing anti-fraud controls. It also gained access to open banking facilities of Fincity Pay for instantly validating the ACH payments.
  • Simple Nexus is a platform for loan officers, borrowers and settlement agencies that merged with the mortgage verification service of Fincity named MVS in June 2021. This development will streamline the verification of income and asset of any applicant through a single embedded service.

Key Players

  • Experian
  • GBG
  • Equifax
  • Mitek Systems
  • Thales Group
  • LexisNexis Risk Solutions
  • Onfido
  • Trulioo
  • Acuant
  • IDEMIA

Key Segments

By Component:

  • Solutions
  • Services

By Deployment Mode:

  • On-premises
  • Cloud

By Type:

  • Biometrics
  • Non-Biometrics

By Organization Size:

  • SMEs
  • Large Enterprises

By Vertical:

  • BFSI
  • Government and Defense
  • Healthcare & Life Sciences
  • Retail and eCommerce
  • IT & ITeS
  • Energy and Utilities
  • Education
  • Travel
  • Gaming
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

Frequently Asked Questions

The global identity verification market is estimated to record a CAGR of 14.8% during the forecast period.

The global identity verification market is projected to be valued at US$ 40 Bn by 2032.

The global identity verification market was valued at US$ 8.6 Bn in 2021.

US is the largest regional market for identity verification with an estimated value of US$ 3.6 Bn in 2021.

Asia Pacific region is predicted to witness the highest CAGR during the forecast period of 2022 to 2032.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Summary of Statistics

    1.3. Key Market Characteristics & Attributes

    1.4. FMI Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy 

    2.2. Market Definition / Scope / Limitations

3. Market Risks and Trends Assessment 

    3.1. Risk Assessment

        3.1.1. COVID-19 Crisis and Impact on Identity Verification Demand

        3.1.2. COVID-19 Impact Benchmark with Previous Crisis

        3.1.3. Impact on Market Value (US$ Mn)

        3.1.4. Assessment by Key Countries

        3.1.5. Assessment by Key Market Segments

        3.1.6. Action Points and Recommendation for Suppliers

    3.2. Key Trends Impacting the Market

    3.3. Formulation and Product Development Trends

4. Market Background

    4.1. Identity Verification Market, by Key Countries

    4.2. Identity Verification Market Opportunity Assessment (US$ Mn)

        4.2.1. Total Available Market

        4.2.2. Serviceable Addressable Market

        4.2.3. Serviceable Obtainable Market

    4.3. Market Scenario Forecast 

        4.3.1. Demand in optimistic Scenario

        4.3.2. Demand in Likely Scenario

        4.3.3. Demand in Conservative Scenario 

    4.4. Investment Feasibility Analysis

        4.4.1. Investment in Established Markets

            4.4.1.1. In Short Term

            4.4.1.2. In Long Term

        4.4.2. Investment in Emerging Markets

            4.4.2.1. In Short Term

            4.4.2.2. In Long Term

    4.5. Forecast Factors - Relevance & Impact

        4.5.1. Top Companies Historical Growth

        4.5.2. Growth in Automation, By Country

        4.5.3. Identity Verification Adoption Rate, By Country

    4.6. Market Dynamics

        4.6.1. Market Driving Factors and Impact Assessment

        4.6.2. Prominent Market Challenges and Impact Assessment

        4.6.3. Identity Verification Market Opportunities

        4.6.4. Prominent Trends in the Global Market & Their Impact Assessment

5. Key Success Factors 

    5.1. Manufacturers’ Focus on Low Penetration High Growth Markets

    5.2. Banking on with Segments High Incremental Opportunity

    5.3. Peer Benchmarking 

6. Global Identity Verification Market Demand Analysis 2015-2021 and Forecast, 2022-2032

    6.1. Historical Market Analysis, 2015-2021

    6.2. Current and Future Market Projections, 2022-2032

    6.3. Y-o-Y Growth Trend Analysis

7. Global Identity Verification Market Value Analysis 2015-2021 and Forecast, 2022-2032

    7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021

    7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032

        7.2.1. Y-o-Y Growth Trend Analysis

        7.2.2. Absolute $ Opportunity Analysis

8. Global Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032, By Component

    8.1. Introduction / Key Findings

    8.2. Historical Market Value (US$ Mn) and Analysis By Component, 2015-2021

    8.3. Current and Future Market Value (US$ Mn) and Analysis and Forecast By Component, 2022-2032

        8.3.1. Solutions

        8.3.2. Services

    8.4. Market Attractiveness Analysis By Component

9. Global Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032, By Organization Size

    9.1. Introduction / Key Findings

    9.2. Historical Market Value (US$ Mn) and Analysis By Organization Size, 2015-2021

    9.3. Current and Future Market Value (US$ Mn) and Analysis and Forecast By Organization Size, 2022-2032

        9.3.1. SMEs

        9.3.2. Large enterprises

    9.4. Market Attractiveness Analysis By Organization Size

10. Global Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032,By Deployment Mode 

    10.1. Introduction / Key Findings

    10.2. Historical Market Value (US$ Mn) and AnalysisBy Deployment Mode , 2015-2021

    10.3. Current and Future Market Value (US$ Mn) and Analysis and ForecastBy Deployment Mode , 2022-2032

        10.3.1. On-premises

        10.3.2. Cloud

    10.4. Market Attractiveness AnalysisBy Deployment Mode 

11. Global Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032, By Type

    11.1. Introduction / Key Findings

    11.2. Historical Market Value (US$ Mn) and Analysis By Type, 2015-2021

    11.3. Current and Future Market Value (US$ Mn) and Analysis and Forecast By Type, 2022-2032

        11.3.1. Biometrics

        11.3.2. Non- Biometrics

    11.4. Market Attractiveness Analysis By Type

12. Global Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032, By Vertical 

    12.1. Introduction / Key Findings

    12.2. Historical Market Value (US$ Mn) and Analysis By Vertical , 2015-2021

    12.3. Current and Future Market Value (US$ Mn) and Analysis and Forecast By Vertical , 2022-2032

        12.3.1. BFSI

        12.3.2. Government and defense

        12.3.3. Healthcare & Life Sciences

        12.3.4. Retail and eCommerce

        12.3.5. IT & ITeS

        12.3.6. Energy and Utilities

        12.3.7. Others (Education, Travel, and Gaming)

    12.4. Market Attractiveness Analysis By Vertical 

13. Global Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032, By Region

    13.1. Introduction

    13.2. Historical Market Value (US$ Mn) and Analysis By Region, 2015-2021

    13.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032

        13.3.1. North America

        13.3.2. Latin America

        13.3.3. Europe

        13.3.4. Asia Pacific 

        13.3.5. Middle East and Africa (MEA)

    13.4. Market Attractiveness Analysis By Region

14. North America Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032

    14.1. Introduction

    14.2. Pricing Analysis

    14.3. Historical Market Value (US$ Mn) and Trend Analysis By Market Taxonomy, 2015-2021

    14.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        14.4.1. By Country

            14.4.1.1. U.S.

            14.4.1.2. Canada

            14.4.1.3. Rest of North America

        14.4.2. By Deployment Mode 

        14.4.3. By Component

        14.4.4. By Organization Size

        14.4.5. By Type

        14.4.6. By Vertical 

    14.5. Market Attractiveness Analysis

        14.5.1. By Country

        14.5.2. By Deployment Mode 

        14.5.3. By Component

        14.5.4. By Organization Size

        14.5.5. By Type

        14.5.6. By Vertical 

15. Latin America Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032

    15.1. Introduction

    15.2. Pricing Analysis

    15.3. Historical Market Value (US$ Mn) and Trend Analysis By Market Taxonomy, 2015-2021

    15.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        15.4.1. By Country

            15.4.1.1. Brazil

            15.4.1.2. Mexico

            15.4.1.3. Rest of Latin America

        15.4.2. By Deployment Mode 

        15.4.3. By Component

        15.4.4. By Organization Size

        15.4.5. By Type

        15.4.6. By Vertical 

    15.5. Market Attractiveness Analysis

        15.5.1. By Country

        15.5.2. By Deployment Mode 

        15.5.3. By Component

        15.5.4. By Organization Size

        15.5.5. By Type

        15.5.6. By Vertical 

16. Europe Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032

    16.1. Introduction

    16.2. Pricing Analysis

    16.3. Historical Market Value (US$ Mn) and Trend Analysis By Market Taxonomy, 2015-2021

    16.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        16.4.1. By Country

            16.4.1.1. Germany

            16.4.1.2. France

            16.4.1.3. U.K.

            16.4.1.4. Italy

            16.4.1.5. Russia

            16.4.1.6. Rest of Europe

        16.4.2. By Deployment Mode 

        16.4.3. By Component

        16.4.4. By Organization Size

        16.4.5. By Type

        16.4.6. By Vertical 

    16.5. Market Attractiveness Analysis

        16.5.1. By Country

        16.5.2. By Deployment Mode 

        16.5.3. By Component

        16.5.4. By Organization Size

        16.5.5. By Type

        16.5.6. By Vertical 

17. Asia Pacific Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032

    17.1. Introduction

    17.2. Pricing Analysis

    17.3. Historical Market Value (US$ Mn) and Trend Analysis By Market Taxonomy, 2015-2021

    17.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        17.4.1. By Country

            17.4.1.1. China

            17.4.1.2. Japan

            17.4.1.3. South Korea

            17.4.1.4. Rest of Asia Pacific

        17.4.2. By Deployment Mode 

        17.4.3. By Component

        17.4.4. By Organization Size

        17.4.5. By Type

        17.4.6. By Vertical 

    17.5. Market Attractiveness Analysis

        17.5.1. By Country

        17.5.2. By Deployment Mode 

        17.5.3. By Component

        17.5.4. By Organization Size

        17.5.5. By Type

        17.5.6. By Vertical 

18. Middle East and Africa Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032

    18.1. Introduction

    18.2. Pricing Analysis

    18.3. Historical Market Value (US$ Mn) and Trend Analysis By Market Taxonomy, 2015-2021

    18.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        18.4.1. By Country

            18.4.1.1. GCC Countries

            18.4.1.2. South Africa

            18.4.1.3. Turkey

            18.4.1.4. Rest of Middle East and Africa

        18.4.2. By Deployment Mode 

        18.4.3. By Component

        18.4.4. By Organization Size

        18.4.5. By Type

        18.4.6. By Vertical 

    18.5. Market Attractiveness Analysis

        18.5.1. By Country

        18.5.2. By Deployment Mode 

        18.5.3. By Component

        18.5.4. By Organization Size

        18.5.5. By Type

        18.5.6. By Vertical 

19. Key Countries Identity Verification Market Analysis 2015-2021 and Forecast 2022-2032

    19.1. Introduction

        19.1.1. Market Value Proportion Analysis, By Key Countries

        19.1.2. Global Vs. Country Growth Comparison

    19.2. US Identity Verification Market Analysis

        19.2.1. Value Proportion Analysis by Market Taxonomy

        19.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.2.2.1. By Deployment Mode 

            19.2.2.2. By Component

            19.2.2.3. By Organization Size

            19.2.2.4. By Type

            19.2.2.5. By Vertical 

    19.3. Canada Identity Verification Market Analysis

        19.3.1. Value Proportion Analysis by Market Taxonomy

        19.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.3.2.1. By Deployment Mode 

            19.3.2.2. By Component

            19.3.2.3. By Organization Size

            19.3.2.4. By Type

            19.3.2.5. By Vertical 

    19.4. Mexico Identity Verification Market Analysis

        19.4.1. Value Proportion Analysis by Market Taxonomy

        19.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.4.2.1. By Deployment Mode 

            19.4.2.2. By Component

            19.4.2.3. By Organization Size

            19.4.2.4. By Type

            19.4.2.5. By Vertical 

    19.5. Brazil Identity Verification Market Analysis

        19.5.1. Value Proportion Analysis by Market Taxonomy

        19.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.5.2.1. By Deployment Mode 

            19.5.2.2. By Component

            19.5.2.3. By Organization Size

            19.5.2.4. By Type

            19.5.2.5. By Vertical 

    19.6. Germany Identity Verification Market Analysis

        19.6.1. Value Proportion Analysis by Market Taxonomy

        19.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.6.2.1. By Deployment Mode 

            19.6.2.2. By Component

            19.6.2.3. By Organization Size

            19.6.2.4. By Type

            19.6.2.5. By Vertical 

    19.7. France Identity Verification Market Analysis

        19.7.1. Value Proportion Analysis by Market Taxonomy

        19.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.7.2.1. By Deployment Mode 

            19.7.2.2. By Component

            19.7.2.3. By Organization Size

            19.7.2.4. By Type

            19.7.2.5. By Vertical 

    19.8. Italy Identity Verification Market Analysis

        19.8.1. Value Proportion Analysis by Market Taxonomy

        19.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.8.2.1. By Deployment Mode 

            19.8.2.2. By Component

            19.8.2.3. By Organization Size

            19.8.2.4. By Type

            19.8.2.5. By Vertical 

    19.9. Russia Identity Verification Market Analysis

        19.9.1. Value Proportion Analysis by Market Taxonomy

        19.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.9.2.1. By Deployment Mode 

            19.9.2.2. By Component

            19.9.2.3. By Organization Size

            19.9.2.4. By Type

            19.9.2.5. By Vertical 

    19.10. UK Identity Verification Market Analysis

        19.10.1. Value Proportion Analysis by Market Taxonomy

        19.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.10.2.1. By Deployment Mode 

            19.10.2.2. By Component

            19.10.2.3. By Organization Size

            19.10.2.4. By Type

            19.10.2.5. By Vertical 

    19.11. China Identity Verification Market Analysis

        19.11.1. Value Proportion Analysis by Market Taxonomy

        19.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.11.2.1. By Deployment Mode 

            19.11.2.2. By Component

            19.11.2.3. By Organization Size

            19.11.2.4. By Type

            19.11.2.5. By Vertical 

    19.12. Japan Identity Verification Market Analysis

        19.12.1. Value Proportion Analysis by Market Taxonomy

        19.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.12.2.1. By Deployment Mode 

            19.12.2.2. By Component

            19.12.2.3. By Organization Size

            19.12.2.4. By Type

            19.12.2.5. By Vertical 

    19.13. South Korea Identity Verification Market Analysis

        19.13.1. Value Proportion Analysis by Market Taxonomy

        19.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.13.2.1. By Deployment Mode 

            19.13.2.2. By Component

            19.13.2.3. By Organization Size

            19.13.2.4. By Type

            19.13.2.5. By Vertical 

    19.14. GCC Countries Identity Verification Market Analysis

        19.14.1. Value Proportion Analysis by Market Taxonomy

        19.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.14.2.1. By Deployment Mode 

            19.14.2.2. By Component

            19.14.2.3. By Organization Size

            19.14.2.4. By Type

            19.14.2.5. By Vertical 

    19.15. South Africa Identity Verification Market Analysis

        19.15.1. Value Proportion Analysis by Market Taxonomy

        19.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.15.2.1. By Deployment Mode 

            19.15.2.2. By Component

            19.15.2.3. By Organization Size

            19.15.2.4. By Type

            19.15.2.5. By Vertical 

    19.16. Turkey Identity Verification Market Analysis

        19.16.1. Value Proportion Analysis by Market Taxonomy

        19.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            19.16.2.1. By Deployment Mode 

            19.16.2.2. By Component

            19.16.2.3. By Organization Size

            19.16.2.4. By Type

            19.16.2.5. By Vertical 

        19.16.3. Competition Landscape and Player Concentration in the Country

20. Market Structure Analysis

    20.1. Market Analysis by Tier of Companies 

    20.2. Market Concentration

    20.3. Market Share Analysis of Top Players

    20.4. Market Presence Analysis

        20.4.1. By Regional footprint of Players

        20.4.2. Product footprint by Players

21. Competition Analysis

    21.1. Competition Dashboard

    21.2. Competition Benchmarking

    21.3. Competition Deep Dive 

        21.3.1. Experian 

            21.3.1.1. Overview

            21.3.1.2. Product Portfolio

            21.3.1.3. Sales Footprint

            21.3.1.4. Strategy Overview

        21.3.2. GBG 

        21.3.3. Equifax 

        21.3.4. Mitek Systems 

        21.3.5. Thales Group 

        21.3.6. LexisNexis Risk Solutions 

        21.3.7. Onfido 

        21.3.8. Trulioo 

        21.3.9. Acuant 

        21.3.10. IDEMIA 

22. Assumptions and Acronyms Used

23. Research Methodology

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List of Tables

Table 1: Global Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2015 – 2021

Table 2: Global Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2022 – 2032

Table 3: Global Identity Verification  Market Value (US$ Mn), By Component, 2015 – 2021

Table 4: Global Identity Verification  Market Value (US$ Mn), By Component, 2022 – 2032

Table 5: Global Identity Verification  Market Value (US$ Mn), By Organization Size, 2015 – 2021

Table 6: Global Identity Verification  Market Value (US$ Mn), By Organization Size, 2022 – 2032

Table 7: Global Identity Verification  Market Value (US$ Mn), By Vertical , 2015 – 2021

Table 8: Global Identity Verification  Market Value (US$ Mn), By Vertical , 2022 – 2032

Table 9: Global Identity Verification  Market Value (US$ Mn), By Type, 2015 – 2021

Table 10: Global Identity Verification  Market Value (US$ Mn), By Type, 2022 – 2032

Table 11: Global Identity Verification  Market, By Region, 2015 – 2021

Table 12: Global Identity Verification  Market, By Region, 2022 – 2032

Table 13: North America Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2015 – 2021

Table 14: North America Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2022 – 2032

Table 15: North America Identity Verification  Market Value (US$ Mn), By Component, 2015 – 2021

Table 16: North America Identity Verification  Market Value (US$ Mn), By Component, 2022 – 2032

Table 17: North America Identity Verification  Market Value (US$ Mn), By Organization Size, 2015 – 2021

Table 18: North America Identity Verification  Market Value (US$ Mn), By Organization Size, 2022 – 2032

Table 19: North America Identity Verification  Market Value (US$ Mn), By Vertical , 2015 – 2021

Table 20: North America Identity Verification  Market Value (US$ Mn), By Vertical , 2022 – 2032

Table 21: North America Identity Verification  Market Value (US$ Mn), By Type, 2015 – 2021

Table 22: North America Identity Verification  Market Value (US$ Mn), By Type, 2022 – 2032

Table 23: North America Identity Verification  Market, By Country, 2015 – 2021

Table 24: North America Identity Verification  Market, By Country, 2022 – 2032

Table 25: Latin America Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2015 – 2021

Table 26: Latin America Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2022 – 2032

Table 27: Latin America Identity Verification  Market Value (US$ Mn), By Component, 2015 – 2021

Table 28: Latin America Identity Verification  Market Value (US$ Mn), By Component, 2022 – 2032

Table 29: Latin America Identity Verification  Market Value (US$ Mn), By Organization Size, 2015 – 2021

Table 30: Latin America Identity Verification  Market Value (US$ Mn), By Organization Size, 2022 – 2032

Table 31: Latin America Identity Verification  Market Value (US$ Mn), By Vertical , 2015 – 2021

Table 32: Latin America Identity Verification  Market Value (US$ Mn), By Vertical , 2022 – 2032

Table 33: Latin America Identity Verification  Market Value (US$ Mn), By Type, 2015 – 2021

Table 34: Latin America Identity Verification  Market Value (US$ Mn), By Type, 2022 – 2032

Table 35: Latin America Identity Verification  Market, By Country, 2015 – 2021

Table 36: Latin America Identity Verification  Market, By Country, 2022 – 2032

Table 37: Europe Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2015 – 2021

Table 38: Europe Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2022 – 2032

Table 39: Europe Identity Verification  Market Value (US$ Mn), By Component, 2015 – 2021

Table 40: Europe Identity Verification  Market Value (US$ Mn), By Component, 2022 – 2032

Table 41: Europe Identity Verification  Market Value (US$ Mn), By Organization Size, 2015 – 2021

Table 42: Europe Identity Verification  Market Value (US$ Mn), By Organization Size, 2022 – 2032

Table 43: Europe Identity Verification  Market Value (US$ Mn), By Vertical , 2015 – 2021

Table 44: Europe Identity Verification  Market Value (US$ Mn), By Vertical , 2022 – 2032

Table 45: Europe Identity Verification  Market Value (US$ Mn), By Type, 2015 – 2021

Table 46: Europe Identity Verification  Market Value (US$ Mn), By Type, 2022 – 2032

Table 47: Europe Identity Verification  Market, By Country, 2015 – 2021

Table 48: Europe Identity Verification  Market, By Country, 2022 – 2032

Table 49: Asia Pacific Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2015 – 2021

Table 50: Asia Pacific Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2022 – 2032

Table 51: Asia Pacific Identity Verification  Market Value (US$ Mn), By Component, 2015 – 2021

Table 52: Asia Pacific Identity Verification  Market Value (US$ Mn), By Component, 2022 – 2032

Table 53: Asia Pacific Identity Verification  Market Value (US$ Mn), By Organization Size, 2015 – 2021

Table 54: Asia Pacific Identity Verification  Market Value (US$ Mn), By Organization Size, 2022 – 2032

Table 55: Asia Pacific Identity Verification  Market Value (US$ Mn), By Vertical , 2015 – 2021

Table 56: Asia Pacific Identity Verification  Market Value (US$ Mn), By Vertical , 2022 – 2032

Table 57: Asia Pacific Identity Verification  Market Value (US$ Mn), By Type, 2015 – 2021

Table 58: Asia Pacific Identity Verification  Market Value (US$ Mn), By Type, 2022 – 2032

Table 59: Asia Pacific Identity Verification  Market, By Country, 2015 – 2021

Table 60: Asia Pacific Identity Verification  Market, By Country, 2022 – 2032

Table 61: MEA Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2015 – 2021

Table 62: MEA Identity Verification  Market Value (US$ Mn),By Deployment Mode , 2022 – 2032

Table 63: MEA Identity Verification  Market Value (US$ Mn), By Component, 2015 – 2021

Table 64: MEA Identity Verification  Market Value (US$ Mn), By Component, 2022 – 2032

Table 65: MEA Identity Verification  Market Value (US$ Mn), By Organization Size, 2015 – 2021

Table 66: MEA Identity Verification  Market Value (US$ Mn), By Organization Size, 2022 – 2032

Table 67: MEA Identity Verification  Market Value (US$ Mn), By Vertical , 2015 – 2021

Table 68: MEA Identity Verification  Market Value (US$ Mn), By Vertical , 2022 – 2032

Table 69: MEA Identity Verification  Market Value (US$ Mn), By Type, 2015 – 2021

Table 70: MEA Identity Verification  Market Value (US$ Mn), By Type, 2022 – 2032

Table 71: MEA Identity Verification  Market, By Country, 2015 – 2021

Table 72: MEA Identity Verification  Market, By Country, 2022 – 2032

Nikhil Kaitwade
Principal Consultant
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List of Charts

Figure 1: Global Identity Verification  Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 2: Global Identity Verification  Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 3: Global Identity Verification  Market Share,By Deployment Mode , 2022 & 2032

Figure 4: Global Identity Verification  Market Y-o-Y Growth Projections,By Deployment Mode  – 2022-2032

Figure 5: Global Identity Verification  Market Attractiveness Index,By Deployment Mode  – 2022-2032

Figure 6: Global Identity Verification  Market Share, By Component, 2022 & 2032

Figure 7: Global Identity Verification  Market Y-o-Y Growth Projections, By Component – 2022-2032

Figure 8: Global Identity Verification  Market Attractiveness Index, By Component – 2022-2032

Figure 9: Global Identity Verification  Market Share, By Vertical , 2022 & 2032

Figure 10: Global Identity Verification  Market Y-o-Y Growth Projections, By Vertical  – 2022-2032

Figure 11: Global Identity Verification  Market Attractiveness Index, By Vertical  – 2022-2032

Figure 12: Global Identity Verification  Market Share, By Organization Size, 2022 & 2032

Figure 13: Global Identity Verification  Market Y-o-Y Growth Projections, By Organization Size – 2022-2032

Figure 14: Global Identity Verification  Market Attractiveness Index, By Organization Size – 2022-2032

Figure 15: Global Identity Verification  Market Share, By Type, 2022 & 2032

Figure 16: Global Identity Verification  Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 17: Global Identity Verification  Market Attractiveness Index, By Type – 2022-2032

Figure 18: Global Identity Verification  Market Share, By Region, 2022 & 2032

Figure 19: Global Identity Verification  Market Y-o-Y Growth Projections, By Region – 2022-2032

Figure 20: Global Identity Verification  Market Attractiveness Index, By Region – 2022-2032

Figure 21: North America Identity Verification  Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 22: North America Identity Verification  Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 23: North America Identity Verification  Market Share,By Deployment Mode , 2022 & 2032

Figure 24: North America Identity Verification  Market Y-o-Y Growth Projections,By Deployment Mode  – 2022-2032

Figure 25: North America Identity Verification  Market Attractiveness Index,By Deployment Mode  – 2022-2032

Figure 26: North America Identity Verification  Market Share, By Component, 2022 & 2032

Figure 27: North America Identity Verification  Market Y-o-Y Growth Projections, By Component – 2022-2032

Figure 28: North America Identity Verification  Market Attractiveness Index, By Component – 2022-2032

Figure 29: North America Identity Verification  Market Share, By Vertical , 2022 & 2032

Figure 30: North America Identity Verification  Market Y-o-Y Growth Projections, By Vertical  – 2022-2032

Figure 31: North America Identity Verification  Market Attractiveness Index, By Vertical  – 2022-2032

Figure 32: North America Identity Verification  Market Share, By Organization Size, 2022 & 2032

Figure 33: North America Identity Verification  Market Y-o-Y Growth Projections, By Organization Size – 2022-2032

Figure 34: North America Identity Verification  Market Attractiveness Index, By Organization Size – 2022-2032

Figure 35: North America Identity Verification  Market Share, By Type, 2022 & 2032

Figure 36: North America Identity Verification  Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 37: North America Identity Verification  Market Attractiveness Index, By Type – 2022-2032

Figure 38: North America Identity Verification  Market Share, By Country, 2022 & 2032

Figure 39: North America Identity Verification  Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 40: North America Identity Verification  Market Attractiveness Index, By Country – 2022-2032

Figure 41: Latin America Identity Verification  Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 42: Latin America Identity Verification  Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 43: Latin America Identity Verification  Market Share,By Deployment Mode , 2022 & 2032

Figure 44: Latin America Identity Verification  Market Y-o-Y Growth Projections,By Deployment Mode  – 2022-2032

Figure 45: Latin America Identity Verification  Market Attractiveness Index,By Deployment Mode  – 2022-2032

Figure 46: Latin America Identity Verification  Market Share, By Component, 2022 & 2032

Figure 47: Latin America Identity Verification  Market Y-o-Y Growth Projections, By Component – 2022-2032

Figure 48: Latin America Identity Verification  Market Attractiveness Index, By Component – 2022-2032

Figure 49: Latin America Identity Verification  Market Share, By Vertical , 2022 & 2032

Figure 50: Latin America Identity Verification  Market Y-o-Y Growth Projections, By Vertical  – 2022-2032

Figure 51: Latin America Identity Verification  Market Attractiveness Index, By Vertical  – 2022-2032

Figure 52: Latin America Identity Verification  Market Share, By Organization Size, 2022 & 2032

Figure 53: Latin America Identity Verification  Market Y-o-Y Growth Projections, By Organization Size – 2022-2032

Figure 54: Latin America Identity Verification  Market Attractiveness Index, By Organization Size – 2022-2032

Figure 55: Latin America Identity Verification  Market Share, By Type, 2022 & 2032

Figure 56: Latin America Identity Verification  Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 57: Latin America Identity Verification  Market Attractiveness Index, By Type – 2022-2032

Figure 58: Latin America Identity Verification  Market Share, By Country, 2022 & 2032

Figure 59: Latin America Identity Verification  Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 60: Latin America Identity Verification  Market Attractiveness Index, By Country – 2022-2032

Figure 61: Europe Identity Verification  Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 62: Europe Identity Verification  Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 63: Europe Identity Verification  Market Share,By Deployment Mode , 2022 & 2032

Figure 64: Europe Identity Verification  Market Y-o-Y Growth Projections,By Deployment Mode  – 2022-2032

Figure 65: Europe Identity Verification  Market Attractiveness Index,By Deployment Mode  – 2022-2032

Figure 66: Europe Identity Verification  Market Share, By Component, 2022 & 2032

Figure 67: Europe Identity Verification  Market Y-o-Y Growth Projections, By Component – 2022-2032

Figure 68: Europe Identity Verification  Market Attractiveness Index, By Component – 2022-2032

Figure 69: Europe Identity Verification  Market Share, By Vertical , 2022 & 2032

Figure 70: Europe Identity Verification  Market Y-o-Y Growth Projections, By Vertical  – 2022-2032

Figure 71: Europe Identity Verification  Market Attractiveness Index, By Vertical  – 2022-2032

Figure 72: Europe Identity Verification  Market Share, By Organization Size, 2022 & 2032

Figure 73: Europe Identity Verification  Market Y-o-Y Growth Projections, By Organization Size – 2022-2032

Figure 74: Europe Identity Verification  Market Attractiveness Index, By Organization Size – 2022-2032

Figure 75: Europe Identity Verification  Market Share, By Type, 2022 & 2032

Figure 76: Europe Identity Verification  Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 77: Europe Identity Verification  Market Attractiveness Index, By Type – 2022-2032

Figure 78: Europe Identity Verification  Market Share, By Country, 2022 & 2032

Figure 79: Europe Identity Verification  Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 80: Europe Identity Verification  Market Attractiveness Index, By Country – 2022-2032

Figure 81: Asia Pacific Identity Verification  Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 82: Asia Pacific Identity Verification  Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 83: Asia Pacific Identity Verification  Market Share,By Deployment Mode , 2022 & 2032

Figure 84: Asia Pacific Identity Verification  Market Y-o-Y Growth Projections,By Deployment Mode  – 2022-2032

Figure 85: Asia Pacific Identity Verification  Market Attractiveness Index,By Deployment Mode  – 2022-2032

Figure 86: Asia Pacific Identity Verification  Market Share, By Component, 2022 & 2032

Figure 87: Asia Pacific Identity Verification  Market Y-o-Y Growth Projections, By Component – 2022-2032

Figure 88: Asia Pacific Identity Verification  Market Attractiveness Index, By Component – 2022-2032

Figure 89: Asia Pacific Identity Verification  Market Share, By Vertical , 2022 & 2032

Figure 90: Asia Pacific Identity Verification  Market Y-o-Y Growth Projections, By Vertical  – 2022-2032

Figure 91: Asia Pacific Identity Verification  Market Attractiveness Index, By Vertical  – 2022-2032

Figure 92: Asia Pacific Identity Verification  Market Share, By Organization Size, 2022 & 2032

Figure 93: Asia Pacific Identity Verification  Market Y-o-Y Growth Projections, By Organization Size – 2022-2032

Figure 94: Asia Pacific Identity Verification  Market Attractiveness Index, By Organization Size – 2022-2032

Figure 95: Asia Pacific Identity Verification  Market Share, By Type, 2022 & 2032

Figure 96: Asia Pacific Identity Verification  Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 97: Asia Pacific Identity Verification  Market Attractiveness Index, By Type – 2022-2032

Figure 98: Asia Pacific Identity Verification  Market Share, By Country, 2022 & 2032

Figure 99: Asia Pacific Identity Verification  Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 100: Asia Pacific Identity Verification  Market Attractiveness Index, By Country – 2022-2032

Figure 101: MEA Identity Verification  Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 102: MEA Identity Verification  Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 103: MEA Identity Verification  Market Share,By Deployment Mode , 2022 & 2032

Figure 104: MEA Identity Verification  Market Y-o-Y Growth Projections,By Deployment Mode  – 2022-2032

Figure 105: MEA Identity Verification  Market Attractiveness Index,By Deployment Mode  – 2022-2032

Figure 106: MEA Identity Verification  Market Share, By Component, 2022 & 2032

Figure 107: MEA Identity Verification  Market Y-o-Y Growth Projections, By Component – 2022-2032

Figure 108: MEA Identity Verification  Market Attractiveness Index, By Component – 2022-2032

Figure 109: MEA Identity Verification  Market Share, By Vertical , 2022 & 2032

Figure 110: MEA Identity Verification  Market Y-o-Y Growth Projections, By Vertical  – 2022-2032

Figure 111: MEA Identity Verification  Market Attractiveness Index, By Vertical  – 2022-2032

Figure 112: MEA Identity Verification  Market Share, By Organization Size, 2022 & 2032

Figure 113: MEA Identity Verification  Market Y-o-Y Growth Projections, By Organization Size – 2022-2032

Figure 114: MEA Identity Verification  Market Attractiveness Index, By Organization Size – 2022-2032

Figure 115: MEA Identity Verification  Market Share, By Type, 2022 & 2032

Figure 116: MEA Identity Verification  Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 117: MEA Identity Verification  Market Attractiveness Index, By Type – 2022-2032

Figure 118: MEA Identity Verification  Market Share, By Country, 2022 & 2032

Figure 119: MEA Identity Verification  Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 120: MEA Identity Verification  Market Attractiveness Index, By Country – 2022-2032

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Identity Verification Market