e-KYC Market Envisions USD 1,964.73 Million By 2029 with a 22.0% Compound Annual Growth Rate

The global e-KYC market was valued at USD 447.53 million in 2021 and is expected to rise to USD 1,964.73 million by 2029. The market is expected to register a CAGR of 22.0% during the forecast period from 2022 to 2029. Various factors propelling the demand for e-KYC include:

● Over the past two decades, the e-KYC market has grown significantly, driven by several factors, including the increasing use of digital payment methods and strict government rules aimed at preventing financial crime and money laundering.
● The demand for e-KYC is expected to rise in the future due to the expansion of AI and machine applications that analyze the massive volumes of data generated by digital currency transactions and reduce false warnings.
● The e-KYC industry is expected to rise throughout the forecast period due to the increasing need to restrict the unauthorized use of credentials and conduct infractions.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/e-kyc-market/request-for-sample

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐄-𝐊𝐘𝐂?

Banks, workplaces, and other companies employ the E-KYC authentication technique. Know Your Customer, or KYC, is an acronym. Another phrase for it is knowing your customer or just KYC. KYC is the process by which a business verifies the identity of its customers and assesses their suitability. The banking, financial services, and insurance (BFSI) industry's large financial losses and the financing of terrorism are expected to drive up target market growth for e-KYC.

𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

In this extremely competitive industry, major rivals constantly innovate and differentiate their products in an effort to take the lead in the market. Some of the leading companies of public key infrastructure are:

• 63 Moons Technologies Ltd.
• Au10tix
• EverCompliant
• Acuant
• Financial Software & Systems Pvt. Ltd.
• GIEOM Business Solutions
• GB Group
• IDnow GmbH
• Onfido
• Panamax Inc.
• Jumio Corporation
• Pegasystems Inc.
• Tata Consultancy Services (TCS)
• Trulioo
• Trust Stamp
• Wipro Technologies

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬: https://www.polarismarketresearch.com/buy/945/2

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

• Regulatory Compliance: Increasing regulatory requirements for Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) are pushing organizations to adopt robust e-KYC solutions to ensure compliance.
• Digital Transformation: The global shift towards digital banking and financial services necessitates efficient and secure identity verification processes, driving the demand for e-KYC solutions.
• Rise in Financial Frauds: Growing instances of identity theft and financial fraud are compelling institutions to implement stringent identity verification mechanisms.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

• Integration with Emerging Technologies: Combining e-KYC with emerging technologies like artificial intelligence (AI), machine learning (ML), and blockchain can enhance the accuracy, security, and efficiency of identity verification processes.
• Expansion in Emerging Markets: Developing countries with increasing digital penetration and regulatory advancements present significant growth opportunities for e-KYC solutions.
• Biometric Authentication: The integration of biometric authentication methods (e.g., facial recognition, fingerprint scanning) into e-KYC processes can further improve security and user experience.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.polarismarketresearch.com/industry-analysis/e-kyc-market

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐁𝐫𝐞𝐚𝐤𝐝𝐨𝐰𝐧:

The market is primarily segmented based on product, deployment mode, end-use, and region. According to end-use research, the bank market sector is predicted to provide the highest revenue to the worldwide e-KYC market. It is expected to maintain its dominance over the forecast period due to the increased use of e-KYC to optimize customer onboarding by validating KYC documents online, improving payment collection efficiency, eliminating documentation in loan application processing, and attempting to prevent identity fraud.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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