Research Nester has released a report titled “Identity Verification Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
In one of
the statistics by the Consumer
Sentinel Network of the Federal Trade Commission (FTC) of the United States, the
total number of identity theft cases recorded in the United States in the year
2020 was 1387615 cases. This represented a share of 29.39% out of the total
number of cases reported that year.
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The statistics portray the growing incidences
of identity thefts and other fraudulent activities, which is driving the need
amongst businesses to adopt safety measures such as identity verification
systems. There is a rising concern amongst businesses worldwide to safeguard
the data of their customers, which is also driving the need for the adoption of
identity verification systems. Besides this, the increasing initiatives of the
government of nations worldwide on developing stringent policies for lowering
cybercrime is also anticipated to drive the growth of the global identity
verification market.
The global identity verification market is
anticipated to grow with a CAGR of 16.32% over the forecast period, i.e., 2021
– 2030. The market is estimated to garner a revenue of USD 33189.19 Million by
the end of 2030, up from a revenue of USD 7632.60 Million in the year 2020. The
market is segmented by end-user industry into BFSI, government & defense,
retail, healthcare, IT & telecom, entertainment & gaming,
transportation, logistics, & mobility, energy & utility, hospitality,
and others, out of which, the BFSI segment is anticipated to register the
largest revenue of USD 9852.40 Million by the end of 2030, up from a revenue of
USD 2180.38 Million in the year 2020.
Geographically,
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 USD 12661.67 Million, up from a revenue of USD 2855.35 Million in the year
2020.
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However, the
high cost of deployment is one of the major factors predicted to hinder the
market growth in the coming years.
This report also provides the existing
competitive scenario of some of the key players of the global identity verification market, which includes
company profiling of Experian plc, Mastercard International
Incorporated, Equifax, Inc., Mitek Systems, Inc., LexisNexis Risk Solutions
Group, Acuant, Inc., Onfido, Liquid Inc., Intellicheck, Inc., IDEMIA, and
others.
The
profiling enfolds key information of the companies which comprises of business
overview, products and services, key financials and recent news and
developments. Conclusively, the report titled “Identity Verification Market: Global Demand Analysis &
Opportunity Outlook 2030”, analyses the overall global identity verification industry to help new entrants to
understand the details of the market. In addition to that, this report also
guides existing players looking for expansion and major investors looking for
investment in the global
identity verification market in the near future.
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Research
Nester is a leading service provider for strategic market research and
consulting. We aim to provide unbiased, unparalleled market insights and
industry analysis to help industries, conglomerates and executives to take wise
decisions for their future marketing strategy, expansion and investment, etc.
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