KYC and ID Verification market was valued at US$ 2525.9 million in 2022 and is anticipated to reach US$ 17290 million by 2029, witnessing a CAGR of 37.8% - Valuates Reports

KYC and ID Verification market was valued at US$ 2525.9 million in 2022 and is anticipated to reach US$ 17290 million by 2029, witnessing a CAGR of 37.8% during the forecast period 2023-2029.

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KYC and 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.
Jumio is the largest producer of KYC and ID verification in the world, which has a share nearly 15%. North America is the largest consumption market of KYC and ID verification in the world, which accounts for nearly 50% market share. In terms of product, service is the largest segment of KYC and ID verification in the world, which has a share over 50% market share. And in terms of application, retail and ecommerce is the largest segment of application, accounting for nearly 30% market share.

This report aims to provide a comprehensive presentation of the global market for KYC and 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 KYC and ID Verification.
The KYC and 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 KYC and 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 KYC and 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.

Segment by Type
Software
Services

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

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