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Global Identity Verification Market Outlook 2030

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    Report

  • 182 Pages
  • November 2021
  • Region: Global
  • Research Nester Pvt. Ltd
  • ID: 5475217
Identity verification is a process which ensures that a person’s identity matches to the one that is supposed to be. It is essential in many functions such as opening a bank account, applying for a loan, applying for government ID’s, or any other products or services from different sectors. The most common type of identity verification are biometric authentication, knowledge-based authentication and OTP verification. The global identity verification market is anticipated to grow with a CAGR of 16.32% over the forecast period, i.e., 2021 - 2030. Factors such as the surge in the number of fraudulent activities worldwide, along with the rising adoption of identity verification systems in banks and other financial institutions, are anticipated to drive the growth of the market in the coming years. The market is estimated to garner a revenue of around USD 33190 Million by the end of 2030, up from a revenue of over USD 7630 Million in the year 2020.

The global identity verification market is segmented by numerous segments, which include segmentation by component type, verification type, deployment type, organization size, end-user industry, and by region. By verification type, the market is segmented into knowledge-based authentication, SMS-based two factor authentication, IC chip-based authentication, database solutions, AL/ML-based authentication, biometric authentication, and others. Amongst these, by the end of 2030, the biometric authentication segment is anticipated to garner the largest revenue of more than USD 11700 Million, up from a revenue of near to USD 2630 Million in the year 2020.

On the basis of geographical analysis, the global identity verification market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Amongst these, by the end of 2030, the market in North America region is anticipated to register the largest revenue of about USD 12660 Million. Additionally, the market in the region generated a revenue of close to USD 2850 Million in the year 2020.

Some of the prominent industry leaders in the global identity verification market that are included in our report are Experian plc, Mastercard International Incorporated, Equifax, Inc., Mitek Systems, Inc., LexisNexis Risk Solutions Group, Acuant, Inc., Onfido, Liquid Inc., Intellicheck, Inc., IDEMIA, and others.

Table of Contents

1. Market Definition
1.1. Definition
1.2. Market Segmentation
2. Assumptions and Acronyms
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
4. Executive Summary - Global Identity Verification Market
5. Market Dynamics
5.1. Market Drivers
5.2. Market Trends
6. Key Market Opportunities7. Major Roadblocks for the Market Growth8. Regulatory and Standards Landscape9. Industry Risk Analysis10. Impact of COVID-19 on the Identity Verification Market11. Assessment on the Demand of Identity Verification
12. Competitive Landscape
12.1. Market Share Analysis, 2020
12.2. Competitive Benchmarking
12.3. Company Profiles
12.3.1. Experian plc
12.3.2. Mastercard International Incorporated
12.3.3. Equifax, Inc.
12.3.4. Mitek Systems, Inc.
12.3.5. LexisNexis Risk Solutions Group
12.3.6. Acuant, Inc.
12.3.7. Onfido, Liquid Inc.
12.3.8. Intellicheck, Inc.
12.3.9. IDEMIA
13. Product Feature Analysis14. Competitive Positioning
15. Global Identity Verification Market 2020-2030
15.1. Market Overview
15.2. By Value (USD Million)
16. Global Identity Verification Market - Segmentation Analysis 2020-2030
16.1. Component Type
16.1.1. Solutions, 2020-2030F (USD Million)
16.1.1.1. Document Verification, 2020-2030F (USD Million)
16.1.1.2. Identity Authentication, 2020-2030F (USD Million)
16.1.1.3. Digital Identity Verification, 2020-2030F (USD Million)
16.1.1.4. AML Screening and Monitoring, 2020-2030F (USD Million)
16.1.1.5. Business Verification, 2020-2030F (USD Million)
16.1.1.6. Others, 2020-2030F (USD Million)
16.1.2. Services, 2020-2030F (USD Million)
16.1.2.1. Professional Services, 2020-2030F (USD Million)
16.1.2.2. Managed Services, 2020-2030F (USD Million)
16.2. Verification Type
16.2.1. Knowledge-Based Authentication, 2020-2030F (USD Million)
16.2.2. SMS-Based Two Factor Authentication, 2020-2030F (USD Million)
16.2.3. IC Chip-Based Authentication, 2020-2030F (USD Million)
16.2.4. Database Solutions, 2020-2030F (USD Million)
16.2.5. AL/ML-Based Authentication, 2020-2030F (USD Million)
16.2.6. Biometric Authentication, 2020-2030F (USD Million)
16.2.7. Others, 2020-2030F (USD Million)
16.3. Deployment Type
16.3.1. Cloud, 2020-2030F (USD Million)
16.3.2. On-Premise, 2020-2030F (USD Million)
16.4. Organization Size Type
16.4.1. Small & Medium Enterprises, 2020-2030F (USD Million)
16.4.2. Large Enterprises, 2020-2030F (USD Million)
16.5. End-User Industry Type
16.5.1. BFSI, 2020-2030F (USD Million)
16.5.2. Government & Defense, 2020-2030F (USD Million)
16.5.3. Retail, 2020-2030F (USD Million)
16.5.4. Healthcare, 2020-2030F (USD Million)
16.5.5. IT & Telecom, 2020-2030F (USD Million)
16.5.6. Entertaining & Gaming, 2020-2030F (USD Million)
16.5.7. Transportation, Logistics, & Mobility, 2020-2030F (USD Million)
16.5.8. Energy & Utility, 2020-2030F (USD Million)
16.5.9. Hospitality, 2020-2030F (USD Million)
16.5.10. Others, 2020-2030F (USD Million)
16.6. Region
16.6.1. North America, 2020-2030F (USD Million)
16.6.2. Europe, 2020-2030F (USD Million)
16.6.3. Asia Pacific, 2020-2030F (USD Million)
16.6.4. Latin America, 2020-2030F (USD Million)
16.6.5. Middle East & Africa, 2020-2030F (USD Million)
16.7. Cross Analysis of Identity Verification End-User Industry w.r.t. Verification Type, 2020
17. North America Identity Verification Market
17.1. Market Overview
17.2. Market Value (USD Million)
17.3. Market Segmentation by:
17.3.1. Component Type
17.3.1.1. Solutions, 2020-2030F (USD Million)
17.3.1.1.1. Document Verification, 2020-2030F (USD Million)
17.3.1.1.2. Identity Authentication, 2020-2030F (USD Million)
17.3.1.1.3. Digital Identity Verification, 2020-2030F (USD Million)
17.3.1.1.4. AML Screening and Monitoring, 2020-2030F (USD Million)
17.3.1.1.5. Business Verification, 2020-2030F (USD Million)
17.3.1.1.6. Others, 2020-2030F (USD Million)
17.3.1.2. Services, 2020-2030F (USD Million)
17.3.1.2.1. Professional Services, 2020-2030F (USD Million)
17.3.1.2.2. Managed Services, 2020-2030F (USD Million)
17.3.2. Verification Type
17.3.2.1. Knowledge-Based Authentication, 2020-2030F (USD Million)
17.3.2.2. SMS-Based Two Factor Authentication, 2020-2030F (USD Million)
17.3.2.3. IC Chip-Based Authentication, 2020-2030F (USD Million)
17.3.2.4. Database Solutions, 2020-2030F (USD Million)
17.3.2.5. AL/ML-Based Authentication, 2020-2030F (USD Million)
17.3.2.6. Biometric Authentication, 2020-2030F (USD Million)
17.3.2.7. Others, 2020-2030F (USD Million)
17.3.3. Deployment Type
17.3.3.1. Cloud, 2020-2030F (USD Million)
17.3.3.2. On-Premise, 2020-2030F (USD Million)
17.3.4. Organization Size Type
17.3.4.1. Small & Medium Enterprises, 2020-2030F (USD Million)
17.3.4.2. Large Enterprises, 2020-2030F (USD Million)
17.3.5. End-User Industry Type
17.3.5.1. BFSI, 2020-2030F (USD Million)
17.3.5.2. Government & Defense, 2020-2030F (USD Million)
17.3.5.3. Retail, 2020-2030F (USD Million)
17.3.5.4. Healthcare, 2020-2030F (USD Million)
17.3.5.5. IT & Telecom, 2020-2030F (USD Million)
17.3.5.6. Entertaining & Gaming, 2020-2030F (USD Million)
17.3.5.7. Transportation, Logistics, & Mobility, 2020-2030F (USD Million)
17.3.5.8. Energy & Utility, 2020-2030F (USD Million)
17.3.5.9. Hospitality, 2020-2030F (USD Million)
17.3.5.10. Others, 2020-2030F (USD Million)
17.3.6. Country
17.3.6.1. United States
17.3.6.2. Canada
18. Europe Identity Verification Market
18.1. Market Overview
18.2. Market Value (USD Million)
18.3. Market Segmentation by:
18.3.1. Component Type
18.3.2. Verification Type
18.3.3. Deployment Type
18.3.4. Organization Size Type
18.3.5. End-User Industry Type
18.3.6. Country
18.3.6.1. United Kingdom
18.3.6.2. Germany
18.3.6.3. Italy
18.3.6.4. France
18.3.6.5. Spain
18.3.6.6. Russia
18.3.6.7. Netherlands
18.3.6.8. Rest of Europe
19. Asia Pacific Identity Verification Market
19.1. Market Overview
19.2. Market Value (USD Million)
19.3. Market Segmentation by:
19.3.1. Component Type
19.3.2. Verification Type
19.3.3. Deployment Type
19.3.4. Organization Size Type
19.3.5. End-User Industry Type
19.3.6. Country
19.3.6.1. China
19.3.6.2. India
19.3.6.3. Japan
19.3.6.4. South Korea
19.3.6.5. Australia
19.3.6.6. Rest of Asia Pacific
20. Latin America Identity Verification Market
20.1. Market Overview
20.2. Market Value (USD Million)
20.3. Market Segmentation by:
20.3.1. Component Type
20.3.2. Verification Type
20.3.3. Deployment Type
20.3.4. Organization Size Type
20.3.5. End-User Industry Type
20.3.6. Country
20.3.6.1. Brazil
20.3.6.2. Argentina
20.3.6.3. Mexico
20.3.6.4. Rest of Latin America
21. Middle East & Africa Identity Verification Market
21.1. Market Overview
21.2. Market Value (USD Million)
21.3. Market Segmentation by:
21.3.1. Component Type
21.3.2. Verification Type
21.3.3. Deployment Type
21.3.4. Organization Size Type
21.3.5. End-User Industry Type
21.3.6. Country
21.3.6.1. GCC
21.3.6.2. Israel
21.3.6.3. South Africa
21.3.6.4. Rest of Middle East & Africa
22. Analyst Review

Companies Mentioned

  • Experian plc
  • Mastercard International Incorporated
  • Equifax Inc.
  • Mitek Systems Inc.
  • LexisNexis Risk Solutions Group
  • Acuant Inc.
  • Onfido
  • Liquid Inc.
  • Intellicheck Inc.
  • IDEMIA