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North America Identity Verification Market Forecast 2023-2032

Market Report I 2023-07-12 I 146 Pages I Inkwood Research
Discounted by 20% to 2024-06-30

KEY FINDINGS
The North America identity verification market growth is predicted to project a CAGR of 15.50% during the forecast period, 2023-2032. The market growth is driven by rising government investments, collaborations, mergers & acquisitions, and regulations like California Consumer Privacy Act (CCPA), KYC, and AML.
MARKET INSIGHTS
Canada and the United States are evaluated for the North America identity verification market growth analysis. Canada is experiencing a notable surge in the adoption of identity verification tools, with various organizations and government entities effectively implementing identity verification solutions and services nationwide. The Digital Identification and Authentication Council of Canada (DIACC) plays a crucial role in facilitating the use of digital identification and document verification for e-commerce, industries, governments, and individuals. Notably, Canadian financial institutions are at the forefront of leveraging digital identity verification tools. Additionally, the DIACC is actively developing the Pan-Canadian Trust Framework (PCTF) to foster the creation of an advanced, secure, and privacy-focused Canadian digital identity ecosystem.
Moreover, identity verification is gaining widespread acceptance across diverse industries, prompting market players to develop and launch products that cater to customer requirements. For example, the Royal Bank of Canada became the pioneer in utilizing digital identity verification in March 2020, and since then, Canadian banks have increasingly adopted this software. The Royal Bank of Canada offers digital identification verification for account opening, which can be accessed at bank branches or remotely through mobile and website platforms. This service benefits the bank's 17 million customers in Canada, the United States, and 34 other countries.
COMPETITIVE INSIGHTS
Some of the key companies in the market include TransUnion LLC, Nuance Communications Inc, Mitek Systems Inc, Trulioo Information Services Inc, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.4.1. IMPACT OF COVID-19 ON IDENTITY VERIFICATION MARKET
2.5. MAJOR MARKET FINDINGS
2.5.1. STRINGENT GOVERNMENT REGULATIONS AND MANDATES CONCERNING PRIVACY
2.5.2. ADOPTION OF DIGITAL IDs
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. OCCURRENCES OF IDENTITY THEFTS
3.1.2. RISING DIGITALIZATION INITIATIVES
3.1.3. INCREASING INTERNET PENETRATION AND DIGITAL LITERACY
3.2. KEY RESTRAINTS
3.2.1. PRICE VARIATIONS IN IDENTITY VERIFICATION PRODUCTS
3.2.2. LACK OF TECHNICAL EXPERTISE AND NEED FOR SECURITY AWARENESS & TRAINING
4. KEY ANALYTICS
4.1. KEY TECHNOLOGY TRENDS
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1. BUYERS POWER
4.2.2. SUPPLIERS POWER
4.2.3. SUBSTITUTION
4.2.4. NEW ENTRANTS
4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.3.1. GROWTH PROSPECT MAPPING FOR UNITED STATES
4.4. MARKET CONCENTRATION ANALYSIS
4.5. VALUE CHAIN ANALYSIS
4.5.1. COMPONENTS
4.5.2. IDENTITY VERIFICATIONS
4.5.3. DEPLOYMENT
4.5.4. END-USE INDUSTRY
4.6. KEY BUYING CRITERIA
4.6.1. CAPACITY AND COVERAGE
4.6.2. FRAUD CAPABILITIES
4.6.3. DATA STORAGE AND SECURITY
4.6.4. VERIFICATION TYPES
5. MARKET BY COMPONENT
5.1. SOLUTION
5.2. SERVICE
6. MARKET BY DEPLOYMENT TYPE
6.1. ON-PREMISES
6.2. CLOUD
7. MARKET BY TYPE
7.1. BIOMETRICS
7.2. NON-BIOMETRICS
8. MARKET BY ORGANIZATION SIZE
8.1. SMES
8.2. LARGE ENTERPRISES
9. MARKET BY VERTICAL
9.1. BFSI
9.2. GOVERNMENT AND DEFENSE
9.3. HEALTHCARE & LIFE SCIENCES
9.4. RETAIL AND E-COMMERCE
9.5. IT & ITES
9.6. ENERGY AND UTILITIES
9.7. OTHER VERTICALS
10. GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1. MARKET SIZE & ESTIMATES
10.1.2. NORTH AMERICA IDENTITY VERIFICATION MARKET DRIVERS
10.1.3. NORTH AMERICA IDENTITY VERIFICATION MARKET CHALLENGES
10.1.4. NORTH AMERICA IDENTITY VERIFICATION MARKET REGULATORY FRAMEWORK
10.1.5. KEY PLAYERS IN NORTH AMERICA IDENTITY VERIFICATION MARKET
10.1.6. COUNTRY ANALYSIS
10.1.6.1. UNITED STATES
10.1.6.1.1. UNITED STATES IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.2. CANADA
10.1.6.2.1. CANADA IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
11. COMPETITIVE LANDSCAPE
11.1. KEY STRATEGIC DEVELOPMENTS
11.1.1. ACQUISITIONS
11.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
11.1.3. PARTNERSHIPS & AGREEMENTS
11.1.4. BUSINESS EXPANSIONS
11.2. COMPANY PROFILES
11.2.1. AUTHENTICID
11.2.1.1. COMPANY OVERVIEW
11.2.1.2. PRODUCTS LIST
11.2.1.3. STRENGTHS & CHALLENGES
11.2.2. EQUIFAX INC
11.2.2.1. COMPANY OVERVIEW
11.2.2.2. PRODUCTS LIST
11.2.3. EXPERIAN PLC
11.2.3.1. COMPANY OVERVIEW
11.2.3.2. PRODUCTS LIST
11.2.3.3. STRENGTHS & CHALLENGES
11.2.4. GB GROUP PLC
11.2.4.1. COMPANY OVERVIEW
11.2.4.2. PRODUCTS LIST
11.2.4.3. STRENGTHS & CHALLENGES
11.2.5. IDEMIA
11.2.5.1. COMPANY OVERVIEW
11.2.5.2. PRODUCTS LIST
11.2.6. INTELLICHECK INC
11.2.6.1. COMPANY OVERVIEW
11.2.6.2. PRODUCTS LIST
11.2.6.3. STRENGTHS & CHALLENGES
11.2.7. JUMIO CORPORATION
11.2.7.1. COMPANY OVERVIEW
11.2.7.2. PRODUCTS LIST
11.2.7.3. STRENGTHS & CHALLENGES
11.2.8. MASTERCARD INC
11.2.8.1. COMPANY OVERVIEW
11.2.8.2. PRODUCTS LIST
11.2.8.3. STRENGTHS & CHALLENGES
11.2.9. MITEK SYSTEMS INC
11.2.9.1. COMPANY OVERVIEW
11.2.9.2. PRODUCTS LIST
11.2.9.3. STRENGTHS & CHALLENGES
11.2.10. NUANCE COMMUNICATIONS INC
11.2.10.1. COMPANY OVERVIEW
11.2.10.2. PRODUCTS LIST
11.2.10.3. STRENGTHS & CHALLENGES
11.2.11. ONFIDO LIMITED
11.2.11.1. COMPANY OVERVIEW
11.2.11.2. PRODUCTS LIST
11.2.11.3. STRENGTHS & CHALLENGES
11.2.12. THALES GROUP SA
11.2.12.1. COMPANY OVERVIEW
11.2.12.2. PRODUCTS LIST
11.2.12.3. STRENGTHS & CHALLENGES
11.2.13. TRANSUNION LLC
11.2.13.1. COMPANY OVERVIEW
11.2.13.2. PRODUCTS LIST
11.2.13.3. STRENGTHS & CHALLENGES
11.2.14. TRULIOO INFORMATION SERVICES INC
11.2.14.1. COMPANY OVERVIEW
11.2.14.2. PRODUCTS LIST
11.2.14.3. STRENGTHS & CHALLENGES
11.2.15. TRUNARRATIVE
11.2.15.1. COMPANY OVERVIEW
11.2.15.2. PRODUCTS LIST
11.2.15.3. STRENGTHS & CHALLENGES


LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - IDENTITY VERIFICATION
TABLE 2: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY COMPONENT, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 4: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY DEPLOYMENT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY DEPLOYMENT TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 6: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 8: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY ORGANIZATION SIZE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY ORGANIZATION SIZE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 10: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY VERTICAL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 11: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY VERTICAL, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 12: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 13: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 14: NORTH AMERICA IDENTITY VERIFICATION MARKET REGULATORY FRAMEWORK
TABLE 15: KEY PLAYERS OPERATING IN NORTH AMERICA IDENTITY VERIFICATION MARKET
TABLE 16: LIST OF ACQUISITIONS
TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 19: LIST OF BUSINESS EXPANSIONS


LIST OF FIGURES
FIGURE 1: INDIVIDUALS USING THE INTERNET (% OF POPULATION) (2012-2021)
FIGURE 2: KEY TECHNOLOGY TRENDS
FIGURE 3: PORTER'S FIVE FORCES ANALYSIS
FIGURE 4: GROWTH PROSPECT MAPPING FOR UNITED STATES
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: NORTH AMERICA IDENTITY VERIFICATION MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2022
FIGURE 9: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY SOLUTION, 2023-2032 (IN $ MILLION)
FIGURE 10: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY SERVICE, 2023-2032 (IN $ MILLION)
FIGURE 11: NORTH AMERICA IDENTITY VERIFICATION MARKET, GROWTH POTENTIAL, BY DEPLOYMENT TYPE, IN 2022
FIGURE 12: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY ON-PREMISES, 2023-2032 (IN $ MILLION)
FIGURE 13: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY CLOUD, 2023-2032 (IN $ MILLION)
FIGURE 14: NORTH AMERICA IDENTITY VERIFICATION MARKET, GROWTH POTENTIAL, BY TYPE, IN 2022
FIGURE 15: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY BIOMETRICS, 2023-2032 (IN $ MILLION)
FIGURE 16: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY NON-BIOMETRICS, 2023-2032 (IN $ MILLION)
FIGURE 17: NORTH AMERICA IDENTITY VERIFICATION MARKET, GROWTH POTENTIAL, BY ORGANIZATION SIZE, IN 2022
FIGURE 18: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY SMES, 2023-2032 (IN $ MILLION)
FIGURE 19: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY LARGE ENTERPRISES, 2023-2032 (IN $ MILLION)
FIGURE 20: NORTH AMERICA IDENTITY VERIFICATION MARKET, GROWTH POTENTIAL, BY VERTICAL, IN 2022
FIGURE 21: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY BFSI, 2023-2032 (IN $ MILLION)
FIGURE 22: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY GOVERNMENT AND DEFENSE, 2023-2032 (IN $ MILLION)
FIGURE 23: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY HEALTHCARE & LIFE SCIENCES, 2023-2032 (IN $ MILLION)
FIGURE 24: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY RETAIL AND E-COMMERCE, 2023-2032 (IN $ MILLION)
FIGURE 25: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY IT & ITES, 2023-2032 (IN $ MILLION)
FIGURE 26: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY ENERGY AND UTILITIES, 2023-2032 (IN $ MILLION)
FIGURE 27: NORTH AMERICA IDENTITY VERIFICATION MARKET, BY OTHER VERTICALS, 2023-2032 (IN $ MILLION)
FIGURE 28: NORTH AMERICA IDENTITY VERIFICATION MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)
FIGURE 29: UNITED STATES IDENTITY VERIFICATION MARKET, 2023-2032 (IN $ MILLION)
FIGURE 30: CANADA IDENTITY VERIFICATION MARKET, 2023-2032 (IN $ MILLION)

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