Digital Identity Verification Market: 2023-2028

The new Digital Identity Verification report presents an independent analysis of the landscape and future development of this important market. It provides a comprehensive study of the growth of digital identity verification, as well as the opportunities and challenges it presents. The research includes assessments of different types of authentication and verification in use, and their future prospects, as well as analysis of the future use of AI (Artificial Intelligence) within the market.

The report positions 20 vendors via the Competitor Leaderboard; delivering an invaluable resource for stakeholders seeking to understand the complex landscape of this market, and the different digital identity verification solutions available.

This research presents a comprehensive market forecast; providing extensive insights and actionable data across the below areas, split by 8 key regions and 60 countries:

• Volume of Digital Identity Verification Checks
• Value of Digital Identity Verification Checks
• Average Cost of Digital Identity Verification per Check

The metrics are split across the following key segments:

• Banking
• eGovernment
• eCommerce
• Other

The research suite includes:

• Market Trends & Strategies (PDF)
• Competitor Leaderboard (PDF)
• Data & Forecasts (PDF & Excel)
• 12 Month Access to harvest Online Data Platform

Key Market Statistics

Volume of Verification Checks in 2023

• 61bn

Volume of Verification Checks in 2024

• 71bn

Total Growth 2023 to 2024

• 16%

Key Features

Market Landscape, Segment Analysis, Verification Types: Provides an in-depth analysis of the landscape and the key trends shaping it, such as AI and ML (machine learning) use in authentication, and a growing number of different verification strategies. It also looks at industry-specific needs and opportunities in its segment analysis, as well as including a breakdown of the predominant and emerging verification methods, such as facial recognition, and how digital identity verification must combat identity theft while maintaining user experience.

Key Takeaways & Strategic Recommendations: Key opportunities for digital identity verification providers are highlighted, and recommendations on how those providers must respond to take advantage of these. The key market trends are also analysed, making this section a must-read for digital identity verification providers, and for businesses requiring the checks.

Benchmark Industry Forecasts: 5-year forecasts are provided for the number of, total value of, and average cost of digital identity verification checks. These are split by banking, eGovernment, eCommerce and other, which are split between checks carried out on mobile devices and online. The data is also split by 8 key regions and 60 countries:

North America:

• Canada, US

Latin America:

• Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay

West Europe:

• Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK

Central & East Europe:

• Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine

Far East & China:

• China, Hong Kong, Japan, South Korea

Indian Subcontinent:

• Bangladesh, India, Nepal, Pakistan

Rest of Asia Pacific:

• Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam

Africa & Middle East:

• Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates

The Competitor Leaderboard: Key player capability assessment of 20 digital identity verification providers, via the The Competitor Leaderboard:

• Callsign
• Entrust
• Experian
• G+D
• GBG
• IDEMIA
• iProov
• Jumio
• KYC-Chain
• LexisNexis Risk Solutions
• Microsoft
• Onfido
• Ping Identity
• SecureKey Technologies
• Signicat
• Socure
• Subex
• Thales
• Trulioo
• Veriff

Key Questions Answered

• How will the industry develop over the next five years?
• How much will the total spend on digital identity verification be in 2028?
• What role does digital identity verification have to play in the provision of government services?
• What role does digital identity verification have to play in access management?
• How will changing consumer habits and expectations change the use cases of digital idenity verification?