Identity Verification Market Size Worth US$ 18,125.7 Million By 2027 | CAGR 14.3%: The Insight Partners

The "Identity Verification" business intelligence report by "The Insight Partners" entails detailed information regarding the dynamics affecting market valuation over the analysis period. It also covers the competitive landscape, market scope, and market segmentation.

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.

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Companies Mentioned:
• Acuant, Inc.
• Authenteq
• Experian plc
• Gemalto N.V. (Thales Group)
• IDEMIA
• Jumio Corporation
• LexisNexis
• Mitek Systems, Inc.
• Onfido
• Trulioo

Identity verification Market Insights
Increasing Demand for Secure Transaction in BFSI Sector

Over the years, the financial regulators have intensified their focus on monitoring of fraud activities, which also includes a thrust for the financial institutes to adopt suitable security solutions. Furthermore, in the coming years, the regulators are expected to expect from the firms to be able to show not only that they are capable of functioning the system appropriately but also prove that their systems are efficient enough. This demand for sophistication transaction monitoring system would be predominantly driven by the legislation like NYSDFS (New York States' Department of Financial Services) part 504 and also the general move towards the control being evaluated by their outcome quality.

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 document will help readers gain vital information regarding the market such as leading players, their company profiles, portfolios, financial information, and latest developments. The report also enables companies in making strategic decisions such as partnerships, product launches, collaborations, etc. to gain a competitive edge.

Key Elements that the report acknowledges:
• Growth rate and market size over the analysis timeframe.
• Key factors stimulating and hindering market expansion.
• Leading vendors and suppliers of the market.
• Exhaustive SWOT analysis of each company.
• Detailed PEST analysis by region.
• Opportunities and threats faced by the existing vendors in Identity Verification market.
• Strategic initiatives undertaken by leading players.

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Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
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, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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