Identity Verification Market Growth Opportunities and Latest Trends by Leading Players – Acuant, Authenteq, Gemalto, Idemia, Mitek systems, Experian information solutions, Jumio, LexisNexis, Onfido, Trulioo

The growing sophistication of security information platforms and IT security-based tools & solutions is anticipated to have a profound impact on the overall management of the security ecosystem of an enterprise. The unprecedented growth in the number of cyber security incidents has further led to an increased need for robust security solutions across enterprises. The market demand for identity verification solutions has gained significant traction in the past few years owing to the versatile capabilities of these systems such as identity verification, data identification, fraud detection, and others.

The Global Identity Verification Market accounted to US$ 5.52 Bn in 2018 and is expected to grow at a CAGR of 14.3% during the forecast period 2019 – 2027, to account to US$ 18.12 Bn by 2027.

The growing popularity of digitization and automation in various industry verticals that range from BFSI to healthcare is also anticipated to fuel the growth of the identity verification market during the forecast period of 2019 to 2027. Some of the prominent benefits of identity verification include real-time ID verification, extracting data directly from IDs without any friction, effective document authentication & verification, mitigate the risk of spoofing, and others. All these benefits and capabilities offered by identity verification provide long term benefits to enterprises. These versatile benefits are expected to drive the market growth of identity verification market.

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The reports cover key developments in the Identity Verification market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Identity Verification market are anticipated to lucrative growth opportunities in the future with the rising demand for Identity Verification market in the global market.

Key Players Influencing the Market

• Acuant, Inc.
• Authenteq
• Gemalto N.V. (Thales Group)
• Idemia
• Mitek systems, Inc.
• Experian information solutions, Inc.
• Jumio
• LexisNexis
• Onfido
• Trulioo

The “Global Identity Verification Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of Identity Verification market with detailed market segmentation by component, deployment type, industry vertical, and geography. The global Identity Verification market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Identity Verification market players and offers key trends and opportunities in the market.

The global Identity Verification market is segmented on the basis of type, annotation type, end-user. On the basis of type the market is segmented as text, image, others. On the basis of annotation type the market is segmented as manual, semi-supervised, automatic. On the basis of end-user the market is segmented as automotive, government, healthcare, financial services, retail, IT and telecom, others.

Besides this, the report analyzes factors affecting Identity Verification market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global Identity Verification Market report.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Identity Verification market based on the type and application. It also provides market size and forecast till 2027 for overall Identity Verification market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

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Answers that the report acknowledges:

• Market size and growth rate during forecast period.
• Key factors driving the Identity Verification Market.
• Key market trends cracking up the growth of the Identity Verification Market.
• Challenges to market growth.
• Key vendors of Identity Verification Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Identity Verification Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.

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