Identity Verification Market Surge: Projected CAGR of 11.2% from 2024 to 2029

Market Overview: Identity Verification Market FY24-29

This reports provides an essential and dependable overview of the Identity Verification Market, serving as a guide for stakeholders navigating the industry’s future trajectory. It covers critical aspects, guiding through challenges and opportunities, shedding light on the market landscape, key insights, driving forces, major competitors, regulatory framework, potential growth, ongoing trends, supply chain dynamics, evolving policies, segments and prominent players.

Identity Verification Market Report Coverage Details:

• Base Year: 2023
• Historical Data: 2019-22
• Forecast Period: 2024-2029
• CAGR: 2% (2024-2029)

The Global Identity Verification Market size is estimated to be around USD 19.1 billion by 2029 and is estimated to grow at a CAGR of around 11.2% during the forecast period, i.e., 2024-29.

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Identity Verification Market Opportunity:

Rising Integration of IoT Security – IoT security represents a compelling market opportunity within the broader identity verification landscape. As the Internet of Things continues its rapid expansion across industries such as healthcare, manufacturing, smart cities, and connected homes, the need to ensure the security of IoT devices and networks has become paramount. Identity verification plays a pivotal role in this context, as it enables secure device authentication & access control.

The opportunity lies in providing robust identity verification solutions tailored to the unique requirements of IoT, such as scalable and efficient methods for verifying the identities of numerous interconnected devices. As IoT deployments grow, the demand for solutions that prevent unauthorized access, data breaches, and cyberattacks on IoT ecosystems is set to increase significantly.

Companies that can offer effective IoT security solutions have the potential to carve out a niche in this burgeoning Identity Verification Market while contributing to the overall integrity & trustworthiness of the IoT landscape.

Identity Verification Market Segmentation Analysis — FY24-29

Discover a comprehensive evaluation of every segment and its subdivisions, allowing our clients to gain a deep understanding of the Identity Verification Market (2024-29). We prioritize uncovering the pivotal factors that presently drive and will shape the industry’s growth moving forward. Our goal is to empower our esteemed clients by optimizing their end-user positioning and revenue generation through a thorough analysis of market size, share and all the latest market scope across diverse segmentation categories.

The Identity Verification Market segmentation is enlisted below:

By Component

• Solution- Market Size & Forecast 2019-2029F, (USD Million)
• Service- Market Size & Forecast 2019-2029F, USD Million

By Type

• Biometric- Market Size & Forecast 2019-2029F, USD Million
• Non-Biometric- Market Size & Forecast 2019-2029F, USD Million

By Mode of Deployment

• Cloud — Market Size & Forecast 2019-2029F, USD Million
• On-Premises — Market Size & Forecast 2019-2029F, USD Million

By Organization Size

• Large Enterprises — Market Size & Forecast 2019-2029F, USD Million
• Small & Medium Enterprises — Market Size & Forecast 2019-2029F, USD Million

By Application

• Access Control and User Monitoring — Market Size & Forecast 2019-2029F, USD Million
• Know your Customer and Business, Onboarding — Market Size & Forecast 2019-2029F, USD Million
• Identity Fraud and Compliance and Forensic- Market Size & Forecast 2019-2029F, USD Million

By End-User

• BFSI — Market Size & Forecast 2019-2029F, USD Million
• E-commerce & Retail — Market Size & Forecast 2019-2029F, USD Million
• Defense- Market Size & Forecast 2019-2029F, USD Million
• Healthcare- Market Size & Forecast 2019-2029F, USD Million
• IT Services- Market Size & Forecast 2019-2029F, USD Million
• Others (Telecom, Gaming, etc.) — Market Size & Forecast 2019-2029F, USD Million

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By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Identity Verification Market Competitive Landscape

LexisNexis Risk Solutions, Experian Information Solution, Inc., Equifax, Thales, GBG Plc., MasterCard, Trans Union LLC, Trulioo, Mitek System Inc., Jumio, Idfy, SigniCat, Veriff, PXL Vision AG , SumSub,

Identity Verification Industry News:

• 2023: Thales announced a partnership with Kyndryl to provide French businesses and institutions with better protection for their computer systems, technology, and operational equipment.

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Key Report Highlights   

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

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