U.S. Identity Verification Market Set for Strong Growth by 2031 | Rising Demand for Digital ID & Biometric Security Solutions

Identity Verification Market report, published by DataM Intelligence has released its latest in-depth analysis on the global Identity Verification Market, delivering a detailed overview of regional growth patterns, market segmentation, CAGR, and financial performance among leading industry players. The report offers readers a clear snapshot of the current market value and volume, alongside an exploration of emerging opportunities and ongoing developments. By shining a spotlight on key market drivers and highlighting the evolving industry landscape, the report equips businesses and stakeholders with strategic insights to identify new growth avenues and navigate future market dynamics confidently.

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Identity Verification is the process of confirming a person's identity using documents, biometrics, or digital data. It helps prevent fraud and ensures secure access to services and systems.

Key Players :

=>BAE Systems, IDEMIA, Gemalto, Authenteq Ltd, Experian, Acuant, Onfido, Mitek Systems, Inc., Acuant, Thales Group, LexisNexis, Equifax, and Trulioo.

Key Developments : Identity Verification

United States: Identity Verification Developments

◆ October 2025: The U.S. government introduced enhanced digital identity verification mandates across federal agencies to curb fraud and improve cybersecurity resilience.
◆ August 2025: Multiple states expanded digital driver's license programs in Apple Wallet and Google Wallet, allowing secure biometric-based ID verification.
◆ May 2025: Major banks and fintech firms adopted AI-driven KYC systems using facial recognition and behavioral biometrics for faster and safer customer onboarding.
◆ Early 2025: Cloud-based ID verification solutions integrated advanced document scanning and liveness detection, boosting adoption in finance and healthcare sectors.

Japan: Identity Verification Developments

◆ June 2025: Japan's National Police Agency mandated IC chip-based ID verification for remote bank account openings to eliminate photocopied ID use.
◆ May 2025: The Ministry of Internal Affairs advanced My Number Card integration for digital ID verification in telecom and financial services.
◆ January 2025: Liquid eKYC surpassed 60 million digital verifications, driven by biometric-enabled ID scanning of My Number cards and driver's licenses.
◆ 2024: NEC launched a facial recognition-based digital employee ID platform for enterprise and government users to enhance secure authentication.

Recent Mergers & Acquisitions :

◆ January 2025: Japan's ELEMENTS, Inc. acquired a majority stake in Polarify and formed a partnership with U.S.-based Daon to strengthen global eKYC and biometric identity verification technologies.
◆ This collaboration merges Japan's advanced market presence with Daon's U.S. identity assurance expertise, enabling secure, AI-powered digital onboarding and authentication across industries worldwide.

Growth Forecast Projected :

The Global Identity Verification Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process :

Both primary and secondary data sources have been used in the global Identity Verification Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments :

By Components:
Services for the ICT Industry, Solutions

By Deployment Mode:
Cloud-based, On-premise based

By Organization Size:
Small Enterprises, Medium-sized Enterprises, Large Enterprises, Others

By End-Users:
Government and Defense, Healthcare, BFSI, Retail, IT and Telecom, Energy and Utilities, Others

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Regional Analysis for Identity Verification Market:
⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report :

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Identity Verification producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Identity Verification revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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