Global Identity Verification Market: Industry Outlook, Growth Prospects and Key Opportunities
The Infinium Global Research analyzes the Identity Verification Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global identity verification market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of identity verification. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the identity verification market during the period. The global identity verification market is projected to grow at a CAGR of 15.78% over the forecast period of 2019-2025.
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According to the IGR research analysts, strict government regulations regarding identity verification for improving safety and security is the major driving factor for the growth of the global identity verification market. State Bank of India, Mahindra Finance, Reliance Nippon Life Insurance, Edelweiss, PhonePe, and sharing economy startups such as Ola, Quick Ride, RazorPay, and Coliv are using the services offered by these startups.
Services Segment to Hold the Largest Share During the Forecast Period
The report gives an in-depth analysis of the global identity verification market, focuses on the market opportunities along with the trends driving the market. The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth. It provides the market segmentation by deployment (on-premise, cloud), by component (solutions and services), by end-user (IT and telecommunication, health care, BFSI, and other end-users) and by region. The service segment is anticipated to grow during the forecast period as they help the clients understand their identity verification solutions and related processes.
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North America Region Holds a Premium Share in the Global Identity Verification Market
Geographically, the North America region dominates by the largest market share in the identity verification market due to the growing demand Internet of things (IoT) and cloud-based solutions. The presence of large-scale enterprises, along with an increasing number of small-scale businesses, boosts the growth of the market in this region. In North America, the U.S. dominates the market, followed by Canada and Mexico. Asia-Pacific region is expected to boost the growth of the Identity verification market in the forecast period. In the Asia-Pacific, China holds the largest market share, followed by Japan and India. A growing number of large-scale enterprises, as well as small-medium scale enterprises and increasing demand for identity verification due to fraud and theft, boost the growth of the market in the Asia-Pacific region.
Main Key Players in the global Identity Verification Market
The key players featured in the report are Acuant, Inc., Gemalto NV, Experian Information Solutions, Inc., Trulioo, Mitek Systems, Inc., LexisNexis Risk Solutions, Equifax Inc., IDEMIA, Jumio Corp., Authenteq Ltd., and Other Companies. In May 2019, LexisNexis Risk Solutions announced its expansion in public safety solutions with the acquisition of all Lumen assets, a product line owned by Numerica Corporation, a Colorado-based company. Lumen is an integrated data platform leveraged by public safety analysts, investigators, patrol officers and commanders to help solve cases faster.
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The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider.
The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of identity verification market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the identity verification.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.