Press release
The Global Address Verification Software Market, valued at USD 9.5 Bn in 2022, is projected to grow at a CAGR of 11.75 Percent from 2023 to 2029, reaching a market value of nearly USD 20.68 Bn.
Address Verification Software Market
The market is primarily driven by the rising adoption of e-commerce and online shopping, which requires accurate address data for order fulfillment and logistics. Additionally, the increasing demand for location intelligence, geocoding, and mapping applications contributes to the growth of the address verification software market. Organizations across industries are recognizing the importance of accurate address data to avoid costly errors, such as failed deliveries, returns, and customer dissatisfaction.
To prepare this comprehensive report, both primary and secondary data sources were utilized. The research involved a thorough examination of all factors that may affect the market, validated through primary research and evaluated to provide valuable conclusions. The report employed a bottom-up approach and multiple data triangulation methodologies to estimate the market size and forecasts. The country-wise analysis is based on the percentage adoption or utilization of the given market size in the respective region or country
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Address Verification Software Market Dynamics:
The global address verification software market is driven by several factors, including the rise of e-commerce and the increasing need for accurate address data for order fulfillment and logistics. Governments and organizations worldwide are becoming more stringent about data protection regulations, leading to increased demand for address verification software to ensure compliance. Address verification software also contributes to location intelligence and geocoding applications, which are essential for retail, healthcare, and banking industries. Moreover, organizations across sectors are focusing on enhancing customer experiences by ensuring accurate, complete, and standardized addresses.
The high cost of address verification software limits its adoption among small and medium-sized enterprises. Additionally, a lack of awareness and understanding among end-users about the benefits of the software hampers its adoption. The lack of standardization in address data across different countries and regions poses another significant challenge, making it difficult to develop software that can accurately verify and standardize address data globally.
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Address Verification Software Market Regional Insights:
North America is expected to dominate the market due to the high adoption of address verification software by e-commerce companies and the emphasis on data protection regulations. The presence of well-established infrastructure and advanced technology further facilitates the adoption of address verification software. The United States, with its large number of e-commerce companies and financial institutions, plays a significant role in driving the market in North America.
Europe is anticipated to hold a substantial share of the market due to the increasing focus on data protection regulations and the adoption of address verification software by government organizations, financial institutions, and e-commerce companies. The region is also witnessing a growing preference for cloud-based address verification software.
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Address Verification Software Market Segmentation:
By Product:
Cloud-based Address Verification Software
On-premises Address Verification Software
By End-Use:
E-Commerce
Banking
Healthcare
Retail
Government
Others
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Address Verification Software Market Key Competitors include:
1. Experian
2. Pitney Bowes
3. Melissa Data
4. AccuZIP
5. Lob
6. Data8
7. Postcode Anywhere (PCA Predict)
8. Allies Computing
9. Hopewiser
10.AFD Software
11.QASymphony
12.Global Data Consortium
13.PAV i.t.
14.SmartSoft
15.Addressya
16.Loqate (GBG)
17.Postcodedata.nl
18.Data Additions
19.AddressDoctor
20.ClickToAddress
21.B2Brazil
22.Lobster
23.Byteplant
24.DataTools
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Table of Content for Address Verification Software Market
1. Global Address Verification Software Market: Research Methodology
2. Global Address Verification Software Market: Executive Summary
• Market Overview and Definitions
• Introduction to Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Address Verification Software Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Address Verification Software Market Segmentation
• Global Market, by Product (2021-2029)
• Global Market, by End-Use (2021-2029)
5. Regional Address Verification Software Market (2021-2029)
• Regional Market, by Product (2021-2029)
• Regional Market, by End-Use (2021-2029)
• Regional Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product and End-Use
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o Competitive landscape - Market Leaders, Market Followers, Regional player
o Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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