Global Identity Verification Market 2025-2029

Identity Verification Market 2025-2029

The identity verification market is forecasted to grow by USD 19586.8 mn during 2024-2029, accelerating at a CAGR of 20.2% during the forecast period. The report on the identity verification market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in digitalization with electronic id (eID) cards and smart infrastructure initiatives, rise in cyber data theft, and need to comply with regulatory requirements for data protection.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's identity verification market is segmented as below:

By Component

• Solutions
• Services

By Type

• Large enterprises
• SMEs

By Technology

• Biometric verification
• Document verification
• Digital identity solutions and IDaaS
• Database verification
• Others

By Geographical Landscape

• North America
• APAC
• Europe
• South America
• Middle East and Africa

This study identifies the growing adoption of bring your own device (BYOD) among enterprises as one of the prime reasons driving the identity verification market growth during the next few years. Also, increasing use of identity verification in financial services industry and strategic initiatives by companies will lead to sizable demand in the market.

The report on the identity verification market covers the following areas:

• Identity Verification Market sizing
• Identity Verification Market forecast
• Identity Verification Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading identity verification market vendors that include Applied Recognition Corp., Authenteq Tarbena GmbH, Equifax Inc., Experian Plc, GB Group plc, Gen Digital Inc., ID Merit, Intellicheck Inc., Jumio Corp., Khosla Labs Pvt. Ltd., Mastercard Inc., Mitek Systems Inc., Onfido, PXL Vision AG, RELX Plc, Shufti Pro Ltd., Thales Group, TransUnion, UAB iDenfy., and WebID Solutions GmbH. Also, the identity verification market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. Show more