The latest study released on the Global Identity Verification Market by The Insight Partners Research evaluates market size, trend, and forecast to 2028. The Identity Verification market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
The identity verification market was valued at US$ 6,208.5 million in 2019 and is projected to reach US$ 18,125.7 million by 2027. The Identity verification market is expected to grow at a CAGR of 14.3% during the forecast period of 2020 to 2027.
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The sales of identity verification solution are primarily influenced by numerous economic and non-economic factors. The BFSI and Government sectors are expected to have a significant impact on the growth of the identity verification market. Also, for the healthcare industry, increasing adoption of digitalization is enabling a high degree of services to its customers. Potentially, the BFSI and Government sector present a larger market share as compared to other sectors during the forecast period.
Global identity verification market is majorly driven by an increasing number of cyber-attacks and adoption of security solutions, increasing demand for secure transaction in the BFSI sector, and others. Key trends witnessed in the identity verification market are the integration of AI and other advanced technologies for alerting and pattern based monitoring. The rapidly changing nature of businesses requires consistent changes in technology and services. Also, the rapid digitalization among small and medium enterprises (SMEs) are expected to provide substantial growth opportunity to the key players in this market.
Identity Verification Regional Growth- 2020-2027
The report segments the global Identity Verification market as follows:
Identity Verification Market – by Component
- Solution
- Services
Identity Verification Market – by Deployment
- On-Premise
- Cloud
Identity Verification Market – By Organisation Size
- Small & Medium Enterprises
- Large Enterprises
Identity Verification Market – By End-User
- Banking & Financial Sector
- Insurance Sector
- Government and Defense
- Healthcare
- IT & Telecom
- Retail
- Mobility
- Others
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Identity Verification market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Identity Verification market segments and regions.
Scope of the Report
The research on the Identity Verification market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor's methodologies. The research also segments the Identity Verification market on the basis of end user, product type, application, and demography for the forecast period 2020-2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
Major highlights of the report:
- All-inclusive evaluation of the parent market
- Evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of market value and volume in past, present, and forecast years
- Evaluation of market share
- Study of niche industrial sectors
- Tactical approaches of market leaders
- Lucrative strategies to help companies strengthen their position in the market
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