DBMR team uses simple language and easy to understand statistical images to provide thorough information and in-depth data on the ICT industry and North America Identity Verification. This industry analysis report also shares gross margin, market share, attractiveness index, and value and volume growth of all of the segments studied by the analysts. This comprehensive report makes available the recent and forthcoming technical and financial details of the industry. North America Identity Verification report also offers details about consumer’s demands, preferences, and their variable likings about particular product. The company profiles of all the key players and brands that are dominating the market have been taken into consideration here.
 
A reliable North America Identity Verification report provides players with crucial information and suggests result-oriented tactics to gain a competitive edge in the worldwide market. Important industry trends, market size, market share estimates are analysed and mentioned in this market research report. All the data and information, especially numerical data, involved in this report has been represented very well in the form of graphs, charts or tables for the better understanding of users. Moreover, very loyal sources such as journals, newspapers, company websites, and annual reports of the companies have been referred to collect the data which can be relied upon confidently.
 
The Identity verification market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.3% in the forecast period of 2021 to 2028 and is expected to reach USD 9,328.02 million by 2028. Growing demand for research and development activities is acting as major factor for the growth of the market.
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Market Definition:
 
Identity verification refers to the services and solutions which are used to verify the authenticity of physical identity of a person or their documents such as a driver’s license, passport or a nationally issued identity document and others. Identity verification is an important process which ensures a person’s identity matches the one that is supposed to be.
 
The major players covered in the report are:
 
  • Experian Information Solutions, Inc. (a subsidiary of Experian plc)
  • LexisNexis Risk Solutions Group
  • Thales Group
  • ZIGNSEC AB
  • GB Group plc ('GBG')
  • Precise Biometrics AB
  • Finansiell ID-Teknik BID AB
  • IDEMIA
  • Equifax, Inc.
  • Mitek Systems, Inc.
  • PENNEO A/S
  • Jumio
  • Acuant, Inc.
  • TransUnion LLC
  • Authenteq
  • Onfido
  • ForgeRock
  • Okta
  • Stripe
  • Ping Identity
 
North America Identity Verification Market Scope and Market Size
 
The identity verification market is segmented on the basis of component, type, deployment mode, organization size and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
 
  • On the basis of component, the identity verification market is segmented into solution and services. In 2021, solution segment held larger share in the identity verification market owing to factors such as shift toward digital transformation by various industries, increasing need to fight against data breach and fraud, surging government support toward data protection laws and regulations, requisite to fulfil KYC and AML compliance and easy on boarding of customers as well as employees. 
  • On the basis of type, the identity verification market has been segmented into non-biometrics and biometrics. In 2021, biometrics segment held larger share in the identity verification market due to factors such as increasing smartphone penetration in merging countries and growing use of fingerprint identification, increased security of protected data, improved authentication security to combat new threats, surging dependency on digital technologies, enhanced customer satisfaction and rising trend for contactless biometric solutions. 
  • On the basis of deployment mode, the identity verification market has been segmented into on-premise and cloud. In 2021, on-premise segment held larger share in the identity verification market as government and defense sector along various financial institutions prefer to use on-premise identity solutions, due to security policy restrictions, data sharing and availability of budget to invest in infrastructure.
  • On the basis of organization size, the identity verification market has been segmented into large enterprises and SME’s. In 2021, large enterprises segment held larger share in the identity verification market due to factors such as protection against increased cases of money laundering, data breach, identity theft, secured processing of high risk transactions, mandatory compliant to different regulations and protected digital payments.
  • On the basis of vertical, the identity verification market has been segmented into BFSI, government & defense, energy & utilities, retail & ecommerce, IT & telecom, healthcare, gaming and others. In 2021, government & defense segment held the largest share in the identity verification market owing to factors such as strong need to minimize cyber threats, adoption of risk-based fraud defense strategy, reducing the spread of fake information through stolen identities, ease of convenience in government agency onboarding process and ensuring the safety of citizens.
 
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