openPR Logo
Press release

Identity Verification Market Witness the Growth of $15.8 billion by 2025

10-19-2020 02:28 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

According to a research report "Identity Verification Market by Component (Solutions and Services), Type (Non-Biometric and Biometric), Organization Size, Deployment Mode, Vertical (BFSI, Government and Defense, and Healthcare and Life Sciences), and Region - Global Forecast to 2025", size to grow from USD 7.6 billion in 2020 to USD 15.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. Increasing digitalization with initiatives, Increase in fraudulent activities and identity theft, and increasing use cases of digital identities are major growth factors for the market. Initiatives by governments and enterprises with focus on digitalization and increased adoption of cloud-based identity verification and increasing need to improve customer expectations among verticals such as BFSI would provide lucrative opportunities for vendors in the identity verification market.

Browse 331 market data Tables and 39 Figures spread through 280 Pages and in-depth TOC on "Identity Verification Market - Global Forecast to 2025"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/identity-verification-market-178660742.html

In the type segment, non-biometrics segment to hold the largest market size during the forecast period

Non-biometrics identity verification solutions are used to verify documents, such as government IDs, passport, driving license, and credit or debit cards. The non-biometrics solutions are majorly used for remote customer onboarding, fraudulent ID detection, KYC/AML compliance, and business process automation. The introduction and integration of AI and ML technologies into identity verification solutions help organizations be proactive and make highly effective detection and remediation of suspicious activities and unauthorized and invasive access requests on an enterprise network. With the rapidly growing identity-based attacks and frauds, identity verification solutions are becoming essential. The non-biometrics solution segment is an essential part of identity verification solutions and is expected to witness a huge growth in the coming years.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=178660742

In deployment mode, cloud deployment to grow at a higher CAGR during the forecast period

Cloud-based identity verification solutions are not only enabling organizations to manage their costs but also helping them in improving business agility. It is the fastest-growing deployment model in the identity verification market. SMEs prefer cloud-based deployment, as it is cost-effective and easy to deploy. With the cloud-based deployment of these solutions, small enterprises can assess vulnerabilities and reduce threat landscape at a much lower cost, thus improving their customer services. The cloud-based platform offers a centralized way to verify identities. For organizations having strict budgets on security investments, cloud-based identity verification solutions are a good fit.

North America to hold the largest market size during the forecast period

North America, a technologically advanced region with a high number of early adopters and the presence of major market players, is expected to contribute the highest market share in terms of revenues during the forecast period. Factors such as the development of government initiatives, such as smart infrastructure, smart cities, digital identity-based driver’s license, and the use of identity verification by the US police to track criminals suspected of major and minor crimes, as well as to find out missing persons, are also driving the need of identity verification across North America. Additionally, increasing demand for cloud-based identity verification services among enterprises, especially SMEs, due to advantages such as scalability and cost effectiveness are expected to fuel the growth of identity verification in the region

Speak To Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=178660742

Major vendors in the global identity verification market include Experian (Ireland), GBG (UK), Equifax (US), Mitek Systems (US), Thales Group (France), LexisNexis Risk Solutions (US), Onfido (UK), Trulioo (Canada), Acuant (US), IDEMIA (France), Jumio (US), TransUnion (US), AU10TIX (Israel), IDology (US), Innovatrics (Slovakia), Applied Recognition (Canada), Signicat (Norway), SecureKey (Canada), IDfy (India), Authenteq (Iceland), Veri5Digital (India), PXL Vision (Switzerland), IDMERIT(US), Shufti Pro (UK), Idenfy (Lithuania), WebID (Germany), IDnow (Germany), Signzy (India), and Passbase (Germany).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Identity Verification Market Witness the Growth of $15.8 billion by 2025 here

News-ID: 2163909 • Views: 659

More Releases from MarketsandMarkets™

Payment Security Market Witness the Growth of $24.63 Billion by 2022
According to a research report "Payment Security Market by Solution (Encryption, Tokenization, and Fraud Detection and Prevention), Service (Integration, Support, and Consulting), Organization Size (Large Enterprises and SMEs), Industry Vertical, and Region - Global Forecast to 2022", The global payment security market size is expected to grow from USD 11.39 Billion in 2017 to USD 24.63 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7%. Browse 51 Market
Contact Center Analytics Market Witness the Growth of $1,483.6 Million by 2022
According to a research report "Contact Center Analytics Market by Component (Software and Services), Application (Log Management, Risk and Compliance Management, Real-Time Monitoring and Reporting, Workforce Management, Customer Experience Management) - Global Forecast to 2022", The contact center analytics market is expected to grow from USD 709.5 Million in 2017 to USD 1,483.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 15.9%. Browse 71 Market Data Tables and
APAC Project Portfolio Management Market Witness the Growth of $1,352.8 Million …
According to a research report "APAC Project Portfolio Management Market by Type (Software and Service), Application (Portfolio Management, Financial Management, Resource Management), Deployment, Organization Size, Vertical and Country - Forecast to 2022", The global APAC PPM market size is expected to grow from USD 586.9 Million in 2017 to USD 1,352.8 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2%. The demand for PPM software and services
IoT Analytics Market Witness the Growth of $27.8 billion by 2022
According to a research report "IoT Analytics Market by Application (Energy Management, Predictive Maintenance & Asset Management, Inventory Management, Remote Monitoring), Component, Analytics Type, Deployment, Organization Size, & Vertical - Global Forecast to 2022", published by MarketsandMarkets, the growing adoption of Internet of Things (IoT) devices across verticals, such as aerospace, energy and utilities, and insurance, and the tremendous volume of data generated by them are expected to drive the

All 5 Releases


More Releases for North

Agrochemicals Market in North America
ReportsWorldwide has announced the addition of a new report title North America: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “North America: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the
Web Design in North London
Darcy Developments has moved to the West Hampstead area of North London. Originally based in Manchester and building up a strong client base there, including the exclusive Manchester Grammar School, they have decided to up shop and make the move to the big city. They specialise in Web Design, with an emphasis on clean, simple layouts with a strong message associated with it. They also provide ecommerce solutions such as Paypal integration
The Jewel of the North
It is fair to say that Blackpool is a well known holiday destination not only in the UK and Ireland but also around the world, and is known as ‘The Jewel of the North’, or some refer to Blackpool as the ‘playground of the North, or even ‘Britain’s Las Vegas’. This ‘Jewel’ has much to offer the tourist, it is a very traditional English Victorian seaside town, boasting many attractions, such
LTC North India Tour Packages
LTC TOURS is one of well known travel tour operator among the tourist from all over the world, touring India, Thailand, Malaysia & Singapore, Srilanka, Dubai, London, Paris and more. Our one of the tour package is LTC North India Tour Packages in which we are exploring the complete beauty of North India like Delhi, Rajasthan, Bikaner, and Jaisalmer. In LTC North India Tour Packages, we cover Rajasthan culture, heritage, forts
06-08-2009 | Sports
ClickCulture
ClickCulture Promotes North Carolina Worldwide
Race Team Sponsorship Includes North Carolina Flag Vehicle Wrap RALEIGH, N.C. (June 8, 2009)—ClickCulture Inc. (clickculture.com), a Raleigh-based Web technologies, design and integrated marketing firm, announces today its sponsorship of Creation Autosportif (creationsport.net). The sponsorship includes the North Carolina state flag graphically wrapped on Creation's Le Mans race car. The newly wrapped car will debut at the 77th running of the Le Mans 24 Hour race, held June 13 and 14
Rock star dons 66°North
The British musician Gavin Rossdale and his wife, pop-singer and fashion icon Gwen Stefani, were present last weekend at a ski tournament that is held annually in Deer Valley in Utah. The family went skiing and Gavin even took part in the tournament. We have no reports of his success there, but one thing is clear which is that he knows how to choose the right outdoor wear, as he