Identity Verification Market predicted to gain $15.8 billion by 2025
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 in-depth TOC on "Identity Verification Market”
Browse Full Report @ 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.
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.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=178660742
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.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.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).
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/identity-verification.asp
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, and 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, "Knowledge Store" 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:
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 predicted to gain $15.8 billion by 2025 here
News-ID: 2438780 • Views: 368
More Releases from MarketsandMarkets™
Education and Learning Analytics Market guided to expand $8.2 billion by 2024
According to a new market research report "Education and Learning Analytics Market by Application (Performance Management, Curriculum Development and Intervention Management, and People Acquisition and Retention), Component, Deployment, End User, and Region - Global Forecast to 2024" published by MarketsandMarkets™, the Education and Learning Analytics Market size expected to grow from USD 3.1 billion in 2019 to USD 8.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of
Speech Analytics Market will reach $3.8 billion by 2025
According to a new market research report "Speech Analytics Market by Component (Solutions (Indexing & Query, Speech Engine) and Services), Application (Customer Experience Management, Competitive Intelligence), Vertical, Organization Size, Deployment Mode, and Region - Global Forecast to 2025" published by MarketsandMarkets™, the speech analytics market size to grow from USD 1.5 billion in 2020 to USD 3.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.2% during
IoT Security Market predicted to grow $40.3 Billion by 2026
According to a new market research report "IoT Security Market by Type (Network Security, Endpoint Security, Application Security, and Cloud Security), Component (Solutions & Services), Application Area, Deployment Mode (On-premises & Cloud), Organization Size, and Region - Global Forecast to 2026" published by MarketsandMarkets™, the IoT Security Market size to grow from USD 14.9 billion in 2021 to USD 40.3 billion by 2026, at a Compound Annual Growth Rate
Cloud Computing Market will reach to $947.3 billion by 2026
According to a new market research report "Cloud Computing Market by Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), Deployment Model (Public and Private), Organization Size, Vertical, and Region - Global Forecast to 2026" published by MarketsandMarkets™, the cloud computing market size expected to grow from USD 445.3 billion in 2021 to USD 947.3 billion by 2026, at a
More Releases for Identity
Presidio Identity Aims to Eliminate Identity Theft and Financial Fraud with Inno …
Presidio Identity Aims to Eliminate Identity Theft and Financial Fraud with Innovative Trust and Identity Services Startup emerges from stealth to focus on banking and financial services digital initiatives; raises $1.55 million seed round San Francisco, CA, August 17, 2020 – Presidio Identity, Inc., a provider of cloud-based trust and identity services, announced today the close of $1.55 million in initial funding in a seed round led by Marc Benioff, with participation
Consumer Identity Access Management Market By Directory Services Identity Proofi …
Consumer Identity Access Management Market accounted for USD 13.75 billion in 2016 growing at a CAGR of 16.75% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. New research report of Consumer Identity Access Management Market Analysis with Top Companies as recent as 2017
Consumer Identity Access Management Market Directory Services Identity Proofing/ …
Global Consumer IAM Market accounted for USD 13.75 billion in 2016 growing at a CAGR of 16.75% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. New research report of Global Consumer IAM Market Analysis with Top Companies as recent as 2017 and forecasts
“LeClair Group” Launches New Identity & Services
Saint Paul, Minnesota – Margaret LeClair, CEO, announced today that LeClair Insurance is changing its name to “LeClair Group,” and bringing a new package of services to market in connection with the roll-out of federal health care reform. LeClair Group is capitalizing on its strength and history in providing health insurance products to now offer employee benefit services and human resource consulting, in addition to traditional health and life insurance brokerage
New solution: ″CodeMeter Identity″ verifies online identity
Many companies use the power of the Internet, (Extranet or Intranet) to provide proprietary information intended only for the eyes of a select group. Such a group might be members of a private organization, customers, partners, dealers, service staff or project groups. To keep this information from falling into the wrong hands it is important that authorized persons be able to provide positive identification via secure and well-established security protocols.
Identity Defense Initiates Advisory Board
Stephen J. Suhowatsky named Chairman of Advisory Board [Syracuse NY-June 5, 2007] – Identity Defense.com, a Syracuse based company committed to helping individuals defend their identity from theft and fraud, created an Identity Defense Advisory Board. Stephen J. Suhowatsky has been named its initial member. The board will be comprised of business professionals whose input and experience will enhance the Identity Defense team. Stephen J. Suhowatsky is a seasoned executive with