Middle East & Africa Identity Verification Market Forecast to 2030 - Regional Analysis - Component, Deployment, Organization Size, Type, and Industry Vertical

The Middle East & Africa identity verification market was valued at US$ 461.17 million in 2022 and is expected to reach US$1.33 billion by 2030; it is estimated to grow at a CAGR of 14.2% from 2022 to 2030.

Integration of Artificial Intelligence and Other Advanced Technologies Drive Middle East & Africa Identity Verification Market

The rise in security threats in the coming years is expected to raise its demand for solutions that hastily analyze a large amount of data with the help of technologies like Artificial Intelligence. The ability of artificial intelligence to provide quick mathematical calculations in order to augment the vital abilities of human intelligence is anticipated to generate the greatest growth opportunity for the identity verification market in the near future.

AI has proven to be extensively worthy of threat detection as it can detect anomalies, patterns, and outliers more effortlessly and even with a less skilled workforce. Several identity verification service providers have already integrated their existing solutions with AI techniques to improve their analytical and incident response abilities. For example, in July 2023, DocuSign launched its enhanced identity verification offering, Liveness Detection for ID Verification. This solution uses artificial intelligence (AI)-enabled biometric checks to verify signers. In addition, in July 2023, Checkout.com unveiled Identity Verification, its first product focused on improving the customer onboarding and identity verification process. It uses proprietary artificial intelligence and is trained on billions of identities and facial recognition documents.

In the coming years, as the expectations of end users regarding user behavior and threat detection capabilities will increase, the collaboration of existing identity verification solutions with advanced analytical technologies is expected to drive the identity verification market.

Middle East & Africa Identity Verification Market Overview

Various identity verification software players operating in the UAE are expanding their presence through mergers and acquisitions. For instance, in October 2023, NVSSoft and GripID partnered to bring state-of-the-art identity verification and security solutions to the UAE. This collaboration offers several benefits, including eliminating the need for complex password-based systems and providing a streamlined, password-free experience that remains highly secure. GripID offers a range of devices tailored for various applications, including law enforcement identity control, KYC in telecommunications and banking, and biometric enrollment for elections, eID, and border control. Additionally, in the UAE, various retailers use identity verification technologies to verify payments. For instance, in February 2023, Carrefour, announced that it had teamed up with Network International and biometric technology firm PopID to launch the latter's "Face Pay" verification platform in the UAE. Customers visiting Carrefour's stores in Deira and Amsaf can now pay for their shopping by simply smiling at a payment terminal instead of reaching for their card or phone.

Middle East & Africa Identity Verification Market Segmentation

The Middle East & Africa identity verification market is segmented based on component, deployment, organization size, type, industry vertical, and country. Based on component, the Middle East & Africa identity verification market is bifurcated into solution and services. The solution segment held a larger market share in 2022.

In terms of deployment, the Middle East & Africa identity verification market is bifurcated into cloud and on-premise. The cloud segment held a larger market share in 2022.

By organization size, the Middle East & Africa identity verification market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2022.

Based on type, the Middle East & Africa identity verification market is segmented into biometric verification, online verification, knowledge-based authentication, and others. The biometric verification segment held the largest market share in 2022.

In terms of industry vertical, the Middle East & Africa identity verification market is segmented into BFSI, government & defense, healthcare, IT & telecom, retail, and others. The BFSI segment held the largest market share in 2022.

Based on country, the Middle East & Africa identity verification market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa identity verification market share in 2022.

Trulioo, Onfido, Mitek Systems, Inc, IDology, Experian Plc, Thales SA, IDEMIA, Jumio Corporation, and LexisNexis Risk Solutions Group are some of the leading companies operating in the Middle East & Africa identity verification market.