This report provides exclusive insights into the COVID-19 impact on the Identity Verification Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Identity Verification Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Identity Verification Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on the identity verification market provides an
in-depth analysis of segments and sub-segments in the global as well as
regional identity verification market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional identity
verification market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
identity verification market. According to the report, the global identity
verification market is projected to grow at a CAGR of 15.78% over the forecast
period of 2019-2025.
Market Insight
Identity verification uses
face-based biometrics, machine learning, and verification authorities to
certify the person behind a transaction is present. Identity verification
service is used both online and in-person to verify identities. Industries that
use identity verification services comprise digital businesses, financial
services, telecom, and gaming and entertainment, travel and leisure, sharing
economy businesses.
Strict government regulation
regarding identity verification for improving safety and security is the major
driving factor for the growth of the global identity verification market. As an
increased number of data breach cases and data theft, growing need to verify
the identity through paper documentation or digitally boost the growth of the
market. Increasing demand for bringing your own device (BYOD) fuels the growth
of the global identity verification market. An increasing number of fraud
cases in the BFSI sector is the factor driving the growth of the global
identity verification market. On the other hand, the high cost of identity
verification solutions may hamper the growth of the global identity
verification market. Furthermore, increasing demand for the digitalization and
implementation of cloud-based solutions in various industries creates an
opportunity for the growth of the global identity verification market.
Geographically, 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.

Segment Covered
The report on the global identity
verification market covers segments such as deployment, component, and end
user. On the basis of deployment, the sub-markets include on-premise, and
cloud. On the basis of component, the sub-markets include solutions, and
services. On the basis of end user, the sub-markets include IT and
telecommunication, healthcare, BFSI, and other end users.
Companies Profiled:
The report provides profiles of
the companies in the market such as 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.
Report Highlights:
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 the 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.