Global KYC and ID Verification Market Growth (Status and Outlook) 2025-2031

Global KYC and ID Verification Market Growth (Status and Outlook) 2025-2031

The global KYC and ID Verification market size is predicted to grow from US$ 4916 million in 2025 to US$ 16450 million in 2031; it is expected to grow at a CAGR of 22.3% from 2025 to 2031.

KYC and ID Verification is the process of ensuring that current or prospective customers are who they claim to be, and aren't engaging in illicit business through the financial institution.

KYC and ID verification is mainly classified into the following types: software and services. Services type is the most widely used type who takes up about 64.9% of the global market.

KYC and ID verification has wide range of applications and industries. This report classified them into BFSI, Retail and Ecommerce, Tele and Gaming, Healthcare and Transport, etc. BFSI segment was the most widely used area that took up about 28.9% of the global market. But with the impact of the Covid-19, Retail and Ecommerce, Healthcare etc. marked huge growth rate, so the BFSI’s share declined, at the same time, Retail and Ecommerce market share increased to 28.3%.

AI-based product, cloud and mobile technology, biometric authentication, AML related product are the key trends of KYC and ID verification.

Jumio, ID.me, Veriff, Onfido, Trulioo, Sumsub, AU10TIX, Persona, Lightico etc. are the key suppliers in the global KYC and ID verification market. Top 5 took up above 1/3 of the global market.

LPI (LP Information)' newest research report, the “KYC and ID Verification Industry Forecast” looks at past sales and reviews total world KYC and ID Verification sales in 2024, providing a comprehensive analysis by region and market sector of projected KYC and ID Verification sales for 2025 through 2031. With KYC and ID Verification sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world KYC and ID Verification industry.

This Insight Report provides a comprehensive analysis of the global KYC and ID Verification landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on KYC and ID Verification portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global KYC and ID Verification market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for KYC and ID Verification and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global KYC and ID Verification.

This report presents a comprehensive overview, market shares, and growth opportunities of KYC and ID Verification market by product type, application, key players and key regions and countries.

Segmentation by Type:
Software
Services

Segmentation by Application:
BFSI
Retail and Ecommerce
Tele and Gaming
Healthcare and Transport
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Jumio
ID.me
Veriff
Entrust (Onfido)
Trulioo
Sumsub
AU10TIX
Persona
Lightico
Ondato
Parallel Markets
APLYiD
Smile ID
Socure (Berbix)
Shufti Pro
Verifai
Cognito
ARGOS Identity
IDnow
Thales
Signicat
GBG Plc

Please note: The report will take approximately 2 business days to prepare and deliver.