Identity Verification Market Share, Size, New Updates, Trends, Industry Expansion, Opportunities, Challenges and Forecast by Market Reports World till 2027

Identity Verification Market Overview:

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.

North America was the leading region in geographic market, and it is expected to lose it position to Asia Pacific.  Technological advancements, and high increasing digitization in the region is expected to drive the growth of identity verification in the region.

The Identity Verification Market report give a 360-degree holistic view of the market and highlights the key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. In addition, the report also provides profiles of major companies along with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.

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Rise in number of cyber-attacks and growing security concerns is driving the identity verification market

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 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.

Integration of AI and other advanced technologies for alerting and pattern based monitoring

Rapidly modernizing security solutions in the coming years are expected to raise its capability to hastily analyze a large amount of data with the help of disruptive technologies like Artificial Intelligence. The ability of Artificial Intelligence to provide quick mathematical calculations in order to augment the vital abilities of human intelligence is anticipated to generate the greatest growth opportunity for the identity verification market in the near future. AI has proven to be extensively worthy for threat detection as it can detect anomalies, patterns, and outliers more effortlessly and even with a less skilled workforce. Several identity verification service providers have already integrated their existing solution with AI techniques for improvising their analytical and incident response abilities. In the forthcoming years as the end-users’ expectation regarding user behavior and threat detection capabilities increases, the collaboration of existing identity verification solutions with advanced analytical technologies is expected to drive noteworthy growth through the value chain of identity verification market.

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- The report provides qualitative and quantitative trends of global Identity Verification Market across offerings, deployment type, industry vertical, and geography.

- The report starts with the key takeaways (chapter two), highlighting the key trends and outlook of the global Identity Verification Market.

- Chapter five discusses the global Identity Verification Market scenario, in terms of historical market revenues, and forecast till the year 2027.

- Chapter six to nine discuss Identity Verification Market segments by offerings, deployment Type, and industry vertical across North America, Europe, Asia-Pacific, Middle East & Africa and South America. They cover market revenue forecast, and factors driving and governing growth.

- Chapter twelve provides the detailed profiles of the key companies operating in the global Identity Verification Market. The companies have been profiled on the basis of their key facts, business description, financial overview, SWOT analysis, and key developments.

- Chapter thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, research methodology, contact information, and the disclaimer section.

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Posted by on Tuesday February 11 2020, 4:59 AM EST. All trademarks acknowledged. Filed under Business Services, Featured Press Release, Software & Services, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks are open. Follow responses: RSS 2.0

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