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Global Identity Verification Market Challenges, Opportunities, Market Entry Strategies, Key Manufact

Identity Verification Market Overview

Identity Verification Market size is grow USD 35.2 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 14.30% during the forecast period. The global identity verification market has been segmented based on component, deployment mode, organization size, and verticals.

Based on the component, the identity verification market has been segmented into solutions and services. The solutions segment held the larger market share of the global identity verification market and is also expected to witness a higher CAGR during the forecast period. The solution segment enables various devices to provide access to secure areas.  

Based on the type, the identity verification market has been segmented into Biometrics, Non- Biometrics. The biometrics segment held the largest market share of the global identity verification market.  Biometric identity verification solutions verify or recognize the identity of a person based on physiological characteristics such as fingerprint or face pattern.

Based on deployment mode, the identity verification market has been segmented into on-premises and cloud. The cloud segment is expected to have a larger market share in the identity verification market during the forecast period. This is mainly due to the cost benefits of cloud deployment; it is largely adopted by various small and medium enterprises. 

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Identity Verification Market Top Key Players

IDEMIA (France),Jumio (US),Experian (Ireland),GBG (UK),Equifax (US),Mitek Systems (US),Thales Group (France),LexisNexis Risk Solutions (US),Onfido (UK),Trulioo (Canada),Acuant (US),TransUnion (US),AU10TIX (Israel),IDology (US),Innovatrics (Slovakia),Idenfy (Lithuania),WebID (Germany),IDnow (Germany),Applied Recognition (Canada),Signicat (Norway),SecureKey (Canada),IDfy (India),Authenteq (Iceland),Veri5Digital (India),PXL Vision (Switzerland),IDMERIT(US),Shufti Pro (UK),Signzy (India),Passbase (Germany)

 Identity Verification Market Competitive Analysis 

The key players of the global identity verification market are 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).

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Identity Verification Market Regional Analysis

The regional analysis for the global identity verification has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America accounted for the largest market share in 2019, and it is expected to register strong growth during the forecast period. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period, primarily due to the growing need to resolve cyber threat issues quickly.

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