According to a new market research report published by Global Identity Verification Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Identity verification is the process of confirming that someone is who they say they are. This can be done in a number of ways, but typically involves comparing information provided by the individual to other data sources, such as a government-issued ID or a credit report.
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Key Players
- Experian
- GBG
- Equifax
- Mitek Systems
- Thales Group
- LexisNexis Risk Solutions
- Onfido
Key Trends
There are three key trends in Identity Verification technology:
The move towards biometric-based authentication: This trend is being driven by the increasing availability of biometric devices (such as fingerprint scanners and iris scanners) and the need for more secure authentication methods.
The increasing use of artificial intelligence: AI is being used to verify identities more accurately and efficiently.
Key Drivers
There are a few key drivers of the identity verification market. The first is the increasing need for organizations to verify the identities of their customers and employees. This is driven by the need to comply with regulations and to protect against fraud.
The second driver is the increasing availability of data and technology that can be used for identity verification. This includes data from social media, government databases, and private companies.
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Market Segments
By Component
- Solutions
- Services
By Type
- Biometrics
- Non-Biometrics
By Deployment Mode
- On-Premises
- Cloud
By Organization Size
- SMEs
- Large enterprises
By Verticals
- BFSI
- Government
- Defense
- Healthcare & Life Sciences
- Retail and eCommerce
- IT & ITeS
- Energy and Utilities
- Others
Reasons to buy Identity Verification Market :
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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