Identity Verification Market Insights by Leading Companies Future Growth, Demand Forecast to 2024

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The identity verification market size is expected to grow from USD 6.0 billion in 2019 to USD 12.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period. The factors expected to drive the identity verification market are the rising number of identity-related frauds and data breaches, stringent regulations, and need for compliance to drive the adoption of identity verification solutions, enterprise mobility, and Bring Your Own Device (BYOD) trends. However, aggregating critical enterprise data distributed across multiple locations within a business is still a point of concern for organizations.

The identity verification market by service includes consulting, training and education, and support and maintenance services. These services help clients understand their identity verification solutions and related processes. The solutions segment is expected to hold a larger market size during the forecast period. The identity verification solutions are being deployed by a large number of Small and Medium-sized Enterprises (SMEs) due to an increasing need to secure the business-sensitive applications from unauthorized accesses.

Get a PDF Sample for more detailed market insights: https://www.sdki.jp/sample-request-106768
The Final Report will cover the impact analysis of COVID-19 on this industry: Identity Verification Market Insights by Leading Companies Future Growth, Demand Forecast to 2024

The SMEs segment is expected to grow at a higher CAGR, owing to the rising deployment of the cloud-based identity verification solutions by them to secure their web applications, mobile applications, mobile devices, infrastructure, and Application Programming Interfaces (APIs) from unauthorized access, vulnerabilities, and attacks. SMEs are small in terms of their size but cater to a large number of customers globally. Weak cybersecurity and low budget make the SMEs more susceptible to data breaches and identity thefts as most of the organizations lack proper security protocols to their organizations’ applications, platforms, and infrastructure.

However, the rising level of cyber-attacks, and the increasing need to protect their infrastructure and confidential data from unauthorized access, and identity impersonification will drive the demand for identity verification solutions among SMEs. These solutions not only enhance the security portfolio of SMEs but also enable them to comply with regulations by ensuring customer data protection as well as organization data protection from identity theft.

Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
APAC includes major economies, such as India, China, Australia, Hong Kong, and Japan, which are rapidly deploying the identity verification solution. APAC is expected to grow at the highest CAGR during the forecast period. The APAC identity verification market is gaining traction, as this region is showing the highest growth of the Internet of Things (IoT), BYOD, and web applications adoption for their business functions and this, in turn, increases the need to secure these solutions against cyber threats, identity-based threats, and attacks. SMEs as well as large organizations in the APAC region have become more aware of identity verification services and have started adopting them to combat identity-based threats and data thefts to their infrastructures, endpoints, and cloud-based applications. Furthermore, North America is expected to have the largest market size in 2019 owing to the presence of a large number of vendors and initial adoption of identity verification solutions owing to rising sophistication level of cyber-attacks and heavy financial losses in the advent of any identity attack.

In-depth interviews were conducted with CEOs, marketing directors, innovation and technology directors, and executives from various key organizations operating in the identity verification market.
 By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
 By Designation: C-Level: 35%, Director Level: 25%, and Others: 40%
 By Region: North America: 45%, Europe: 20%, APAC: 30%, and RoW: 5%

Research Coverage:
The report covers identity verification solutions and services across segments. It aims at estimating the market size and growth potential of this market across segments, such as components, organization size, deployment type, verticals, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report would help the market leaders/new entrants in this market with information about the closest approximations of the revenue numbers for the overall identity verification market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights to better their positions and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information about key market drivers, restraints, challenges, and opportunities.TABLE OF CONTENTS

1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 MARKET DEFINITION 18
1.3 MARKET SCOPE 19
1.3.1 MARKET SEGMENTATION 19
1.3.2 REGIONS COVERED 19
1.4 YEARS CONSIDERED FOR THE STUDY 20
1.5 CURRENCY CONSIDERED 20
1.6 STAKEHOLDERS 21
2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.1.1 SECONDARY DATA 23
2.1.2 PRIMARY DATA 23
2.1.2.1 Breakup of primaries 24

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Shibuya Data Count
Email: [email protected]
Tel: + 81 3 45720790

Related Links
https://www.sdki.jp/

Christophe Rude