Digital Identity Verification: Key Opportunities, Competitor Leaderboard & Market Forecasts 2022-2027

The new Digital Identity Verification research report provides highly detailed analysis of this rapidly growing market. The report assesses the success, trends and challenges of digital identity verification platforms to date in securing digital access and activities. Providing a future outlook for the evolution and adoption of these platforms, the study is supported by extensive analysis of regulatory frameworks, standards and various verification types. It also analyses 15 leading identity verification vendors via the Competitor Leaderboard.

The research also provides industry benchmark forecasts for the market; covering digital identity verification usage and spend on verification platforms, split by the following, as well as by our 8 key regions and 60 countries:

• Banking Verification
• eGovernment Verification
• eCommerce Verification
• Other Verification Services

This research suite comprises:

• Strategy & Forecasts (PDF)
• 5-year Market Sizing & Forecast Spreadsheet (Excel)
• 12 months’ access to harvest Online Data Platform

Key Market Statistics

Market size in 2022:

• $11.6bn

Market size in 2027:

• $20.8bn

2022 to 2027 Growth:

• 80%

Key Features

Market Dynamics: Detailed assessment of how different trends are leading to greater adoption of digital identity verification technologies.

Segment Analysis: Analysis of important segments which are adopting digital identity verification strategies, including:

• Financial Services
• Gaming
• Government Services
• Healthcare
• Mobile Network Operator Services
• Retail

The Competitor Leaderboard: Key player capability and capacity assessment for 15 digital identity verification vendors:

• Callsign
• Experian
• GBG
• Jumio
• KYC-Chain
• LexisNexis Risk Solutions
• Microsoft
• Onfido
• Oxyliom Solutions
• Ping Identity
• SecureKey Technologies
• Signicat
• Socure
• Thales
• Trulioo

Benchmark Industry Forecasts: 5-year forecasts for digital identity verification, covering digital identity verification usage and spend on verification platforms, split by banking verification, eGovernment verification, eCommerce verification and other verification services. Data is also split by our 8 key regions and the 60 countries listed below:

North America:

• Canada, US

Latin America:

• Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay.

West Europe:

• Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK.

Central & East Europe:

• Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine.

Far East & China:

• China, Hong Kong, Japan, South Korea.

Indian Subcontinent:

• Bangladesh, India, Nepal, Pakistan.

Rest of Asia Pacific:

• Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam.
• Africa & Middle East
• Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates

Key Questions Answered

• What is the anticipated market size for digital identity verification over the next 5 years?
• What will the revenue opportunity be for digital identity verification vendors globally by 2027?
• How does identity verification need to evolve to meet new challenges like synthetic identity?
• Who are the key disruptors in this space, and what strategies are vendors employing?
• How is the industry expected to develop over the next 5 years?

Data splits for:

• Total volume of digital identity verification checks, split by 4 segments
• Total spend on digital identity verification checks, split by 4 segments

Segment splits for:

Banking verification (any checks facilitated via a banking service)
eGovernment verification (any checks used to access government services digitally, such as tax account access or visa controls)
eCommerce verification (any checks using a digital identity verification system when completing an eCommerce transaction)
Other verification services (including digital identity verification checks from mobile network operators and other providers)

Geographical splits: 60 countries
Number of tables: Over 66 tables
Number of datapoints: Over 29,000 datapoints

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform; enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.