Identity (ID) Verification market was valued at US$ 4118.5 million in 2022 and is anticipated to reach US$ 18720 million by 2029, witnessing a CAGR of 28.7% - valuates reports

The global Identity (ID) Verification market was valued at US$ 4118.5 million in 2022 and is anticipated to reach US$ 18720 million by 2029, witnessing a CAGR of 28.7% during the forecast period 2023-2029.

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Identity (ID) Verification Market Insights
Identity (ID) Verification is the process of ensuring that current or prospective customers are who they claim to be, and aren't engaging in illicit business through the financial institution.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global key players of Identity verification include Jumio, Thales, Okta, GBG Plc, Onfido, etc. The top 5 took up above 1/3 of the global market. North America is the largest region of Identity verification in the world. North America market took up about 48% the global market, while APAC and Europe were about 10%, 37%.
Identity (ID) Verification Market Analysis
This report aims to provide a comprehensive presentation of the global market for Identity (ID) Verification, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Identity (ID) Verification.
The Identity (ID) Verification market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Identity (ID) Verification market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Identity (ID) Verification companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.
Key Segmentations

By Company
Jumio
ID.me
Veriff
Onfido
Trulioo
Sumsub
AU10TIX
Persona
Lightico
Ondato
Passbase
APLYiD
Smile Identity
Berbix
Shufti Pro
IDnow
Thales
Electronic Identification
GBG Plc
IDEMIA
Okta

Segment by Type
Software
Services

Segment by Application
BFSI
Retail and Ecommerce
Tele and Gaming
Healthcare and Transport
Other

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