DUBLIN--(BUSINESS WIRE)--The "North America Identity Verification Market to 2027 - Regional Analysis and Forecasts By Component, Deployment, Organization Size, End-user" report has been added to ResearchAndMarkets.com's offering.
North America identity verification market is expected to grow from US$ 2.05 Bn in 2018 to US$ 5.27 Bn by the year 2027. This represents a CAGR of 11.2% from the year 2018 to 2027.
Over the years, the financial regulators have intensified their focus on monitoring of fraud activities, which also includes a thrust for the financial institutes to adopt suitable security solutions. Furthermore, in the coming years, the regulators are expected to expect from the firms to be able to show not only that they are capable of functioning the system appropriately but also prove that their systems are efficient enough.
his demand for sophistication transaction monitoring system would be predominantly driven by the legislation like NYSDFS (New York States' Department of Financial Services) part 504 and also the general move towards the control being evaluated by their outcome quality. The growing demand for secure transactions in the BFSI sector is expected to support the growth of identity verification market.
Rapidly modernizing security threats in the coming years is expected to raise its capability to hastily analyze a large amount of data with the help of disruptive 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 solution with AI techniques for improvising their analytical and incident response abilities.
In the forthcoming years as the end-users' expectation regarding user behavior and threat detection capabilities increases, the collaboration of existing identity verification solutions with advanced analytical technologies is expected to drive noteworthy growth through the value chain of identity verification market.
The North America identity verification market is fragmented with the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. Identity verification market is a highly competitive market with the presence of some major market players as well as Tire 2 companies.
Some of the players present in North America identity verification market are
- Acuant, Inc.
- Gemalto N.V.(Thales Group)
- Mitek Systems, Inc.
- Experian Information Solutions, Inc.
Key Topics Covered:
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. North America Identity Verification Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
5. Identity Verification Market - Key Industry Dynamics
5.1.1 Growing Number of Cyber-Attacks and Increasing adoption of Security Solutions to have a Positive Impact on the Market Growth
5.1.2 Growing demand for Secure Transactions in BFSI Sector
5.2.1 Growing Data Privacy and Security Concerns
5.3.1 Small and Medium Enterprises Offer Future Growth Opportunity
5.4 Future Trends
5.4.1 Integration of AI and Other Advanced Technologies for Alerting and Pattern Based Monitoring
5.5 Impact Analysis of Drivers and Restraints
6. North America Identity Verification Market Analysis
6.1 North America Identity Verification Market Overview
6.2 North America Identity Verification Market Forecast and Analysis
7. North America Identity Verification Market Analysis - By Component
7.2 North America Identity Verification Market Breakdown, By Component, 2018 & 2027
7.3 Solutions Market
7.4 Services Market
8. North America Identity Verification Market Analysis - By End User
8.2 North America Identity Verification Market Breakdown, By End Users, 2018 & 2027
8.3 BFSI Market
8.4 Government Market
8.5 Retail Market
8.6 Healthcare Market
8.7 IT and Telecom Market
8.8 Others Market
9. North America Identity Verification Market Analysis - By Organisation Size
9.2 Identity Verification Market Breakdown, By Organisation Size, 2018 & 2027
9.3 Small & Medium Enterprises
9.4 Large Enterprises
10. North America Identity Verification Market Analysis - By Deployment
10.2 Identity Verification Market Breakdown, By Deployment, 2018 & 2027
10.3 Cloud- Based Deployment
10.4 On-Premise Deployment
11. North America Identity Verification Market - Country Analysis
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/j1okto