Identity Verification Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Identification Verification market was valued at USD 8.92 billion in 2021 and is expected to reach USD 18.49 billion in 2027, registering a CAGR of 12.62% over the forecast period (2022 - 2027). The primary drivers for the identity verification market are stringent regulations and the need for compliance. Consumers are highly dependent on the government for the protection of their data. In response, the government has introduced a stream of regulations that focus on reducing fraudulent activities and are introduced by government bodies across the globe. Identity verification is one of the central ideas of such stringent regulations.
Key HighlightsThe Identity Verification Market is highly fragmented, with numerous competitors and many competing technologies that provide intense rivalry among the players. Moving forward, acquisitions and collaborations of large companies with startups are expected, focusing on innovation. Some of the key developments in the area are:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook