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Identity Verification Market Expected to Grow at 12.8 Billion In Revenue by 2024

02-26-2020 07:33 PM CET | IT, New Media & Software

Press release from: ReportsandReports

Identity Verification Market Expected to Grow at 12.8 Billion

According to Market Study Report, Identity Verification Market provides a comprehensive analysis of the Identity Verification Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.This report also provides market landscape and market share information in the Identity Verification Market.

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The Identity Verification Market size is expected to grow from US$ 6.0 Billion in 2019 to US$ 12.8 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period . This report spread across 143 Pages, Profiling 15 Companies and Supported with 77 Tables and 38 Figures is now available in this research.

Top Companies profiled in the Identity Verification Market:
o Experian (Ireland)
o LexisNexis (US)
o quifax (US)
o Mitek Systems (US)
o Gemalto (Netherlands)
o Onfido (England)
o Trulioo (Canada)
o Acuant (US)
o IDEMIA (France)
o Jumio (US)
o Authenteq (Iceland)
o Shufti Pro (UK)
o IDMERIT (US)
o iDenfy (Lithuania)
o TransUnion (US)

"Services segment is expected to grow at a higher CAGR during the forecast period"
The identity verification market by service includes consulting, training and education, and support and maintenance services. These services help clients understand their identity verification solutions and related processes. The solutions segment is expected to hold a larger market size during the forecast period. The identity verification solutions are being deployed by a large number of Small and Medium-sized Enterprises (SMEs)due to an increasing need to secure the business-sensitive applications from unauthorized accesses.

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"Increasing deployment of cloud-based identity verification solutions in SMEs is expected to drive the growth of the SMEs segment during the forecast period"
The SMEs segment is expected to grow at a higher CAGR, owing to the rising deployment of the cloud-based identity verification solutions by them to secure their web applications, mobile applications, mobile devices, infrastructure, and Application Programming Interfaces (APIs) from unauthorized access, vulnerabilities, and attacks. SMEs are small in terms of their size but cater to a large number of customers globally.

"Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period"
APAC includes major economies, such as India, China, Australia, Hong Kong, and Japan, which are rapidly deploying the identity verification solution. APAC is expected to grow at the highest CAGR during the forecast period. The APAC identity verification market is gaining traction, as this region is showing the highest growth of the Internet of Things (IoT), BYOD, and web applications adoption for their business functions and this, in turn, increases the need to secure these solutions against cyber threats, identity-based threats, and attacks.

The Study Objectives of this report are:
o To profile the key players in the market and comprehensively analyze their market size and core competencies

o To analyze the market opportunities for stakeholders by identifying the high-growth segments of the market

o To forecast the market size of the market's segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America

o To define, describe, and forecast the identity verification market by component (solution [digital identity verification, identity authentication, ID verification] and services), deployment type, organization size, vertical, and region

o To provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market

o To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market

o To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations, in the global identity verification market

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Competitive Landscape of Identity Verification Market:
1 Introduction
1.1 Visionary Leaders
1.2 Innovators
1.3 Dynamic Differentiators
1.4 Emerging Companies
2 Competitive Benchmarking
2.1 Analysis of Product Portfolio of Major Players in the Market
2.2 Business Strategies Adopted By Major Players in the Market
3 Competitive Scenario
3.1 Partnerships, Agreements, and Collaborations
3.2 New Product Launches/Product Enhancements
3.3 Mergers and Acquisitions

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