Identity Verification Market Prophesied to Grow at a Faster Pace by 2025
Precise Market Intelligence (PMI) presents its new, comprehensive study on the global Identity Verification market spanning from 2020 to 2030. The Researchers at PMI have no left no stone unturned in bestowing readers a comprehensive view of the market, by studying the drivers, trends, challenges, and restraints. Backed by historical data and projected data, the report breaks down the vast study into numerous geographies and end-use segments, among others to condense the research. The report also considers production and consumption analysis, value chain analysis, key findings, important suggestions and recommendations, and other aspects. The global post-COVID-19 identity verification market size to grow from USD 7.6 billion in 2020 to USD 15.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.6% during 2020–2025.
Analysts at PMI have employed in-depth analysis to offer a lucid understanding of the market and the factors shaping its growth trajectory. Ranging from macro socio-economic factors to micro geography-specific trends, the research has taken into consideration every facet that is likely to play a vital role in the growth of the market in the years to come. Presenting a plethora of valuable information, the report will serve as an effective tool, guiding the market players in making fruitful decisions in the forthcoming years.
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Impact of COVID-19 on Identity Verification Market
The unforeseen outbreak of COVID-19, which swiftly metamorphosed into the pandemic of unexpected proportions, has shifted the world’s focus towards the healthcare sector. National governments are closely working with healthcare institutions and pharmaceutical companies to provide effective treatment to patients suffering from the infection. As a result, there has been a reorientation of medical priorities across healthcare institutions with treatment for COVID-19 patients being the utmost priority. This is sure to impact the growth of the Identity Verification market through the pandemic period.
PMI’s report includes a dedicated section expounding both the short-term and long-term impact of the pandemic on the Identity Verification market. The study is shaped to bolster stakeholders in making the right decisions to mitigate challenges and leverage opportunities through the pandemic.
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Identity Verification Market: Segmentation
To simply the gargantuan study, the report is segregated on the basis of different segments.
Based on Component:
- Solutions
- Services
Based on Type:
- Biometrics
- Non- Biometrics
By Deployment Mode:
- On-premises
- Cloud
By Organization Size:
- SMEs
- Large enterprises
By Verticals:
- BFSI
- Government and defense
- Healthcare & Life Sciences
- Retail and eCommerce
- IT & ITeS
- Energy and Utilities
- Others (Education, Travel, and Gaming)
By Region:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The aforementioned segments are studied with respect to each individual region, considering the region-specific trends, drivers, and restraints.
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Identity Verification Market: Competition Analysis
The study bestows valuable insights into the competitive landscape of the global Identity Verification market, by studying numerous players, their growth strategies, and key developments. The report dwells deep and studies different facets such as product launches, production methodologies, and steps adopted by players to make processes cost-effective, among others, are expected to influence their individual standpoint. Understanding the prevailing trends and strategies on the supply-side empowers players to foster their plan of action accordingly to progress on a remunerative path. Key players covered in the research include
Experian (Ireland), GBG (UK), Equifax (US), Mitek Systems (US), Thales Group (France), LexisNexis Risk Solutions (US), Onfido (UK), Trulioo (Canada), Acuant (US), IDEMIA (France), Jumio (US), TransUnion (US), AU10TIX (Israel), IDology (US), Innovatrics (Slovakia), Applied Recognition (Canada), Signicat (Norway), SecureKey (Canada), IDfy (India), Authenteq (Iceland), Veri5Digital (India), PXL Vision (Switzerland), IDMERIT(US), Shufti Pro (UK), Idenfy (Lithuania), WebID (Germany), IDnow (Germany), Signzy (India), and Passbase (Germany).
Key Questions Answered in PMI’s Identity Verification Market Report
- Which region is anticipated to hold a prominent market share over the forecast period?
- What will be the key driving factor propelling the demand for Identity Verification during the forecast period?
- How current socio-economic trends will impact the Identity Verification market?
- What are the growth strategies implemented by prominent players in the Identity Verification market to maintain their foothold in the competitive landscape?
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