Identity Verification Market 2020 is Booming Worldwide | Top Players: Jumio, LexisNexis, Onfido, Trulioo, Acuant, Authenteq

The Global Identity Verification Market accounted to US$ 5.52 Bn in 2018 and is expected to grow at a CAGR of 14.3% during the forecast period 2019 - 2027, to account to US$ 18.12 Bn by 2027.

The Analysis report titled "Identity Verification Market" highly demonstrates the current Identity Verification market analysis scenario, current future opportunities, revenue growth, pricing and profitability of the industry. A specific study of the competitive landscape of the Identity Verification Market has allotted, providing insights into the corporate profiles, financial standing, recent developments and therefore the SWOT analysis. The Identity Verification Market report also provides the market impact and new opportunities created due to the COVID19 catastrophe.

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Key Companies Profiled:
o Acuant,
o Authenteq
o Gemalto N.V.
o Idemia
o Mitek systems
o Experian information solutions
o Jumio
o LexisNexis
o Onfido
o Trulioo

The growing sophistication of security information platforms and IT security-based tools & solutions is anticipated to have a profound impact on the overall management of the security ecosystem of an enterprise. The unprecedented growth in the number of cyber security incidents has further led to an increased need for robust security solutions across enterprises. The market demand for identity verification solutions has gained significant traction in the past few years owing to the versatile capabilities of these systems such as identity verification, data identification, fraud detection, and others. The growing popularity of digitization and automation in various industry verticals that range from BFSI to healthcare is also anticipated to fuel the growth of the identity verification market during the forecast period of 2019 to 2027.

Some of the prominent benefits of identity verification include real-time ID verification, extracting data directly from IDs without any friction, effective document authentication & verification, mitigate the risk of spoofing, and others. All these benefits and capabilities offered by identity verification provide long term benefits to enterprises. These versatile benefits are expected to drive the market growth of identity verification market.

Key Questions Answered:
o What are the key development strategies used by players operating in the Identity Verification ?
o What are the regional strategies used by industry participants to market their presence in a particular region?
o How will revenue generation impact the decision-making of players?
o What are the new trends affecting the growth of the Identity Verification?
o Based on product type, which product holds the maximum share in the in relation to the ongoing trends?

Rapidly modernizing security solutions in the coming years are expected to raise its capability to hastily analyze a large amount of data with the help of disruptive technologies like Artificial Intelligence. The ability of Artificial Intelligence to provide quick mathematical calculations in order to augment the vital abilities of human intelligence is anticipated to generate the greatest growth opportunity for the identity verification market in the near future. AI has proven to be extensively worthy for threat detection as it can detect anomalies, patterns, and outliers more effortlessly and even with a less skilled workforce. Several identity verification service providers have already integrated their existing solution with AI techniques for improvising their analytical and incident response abilities. In the forthcoming years as the end-users' expectation regarding user behavior and threat detection capabilities increases, the collaboration of existing identity verification solutions with advanced analytical technologies is expected to drive noteworthy growth through the value chain of identity verification market.

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Pune,India

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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