Europe Identity Verification Market Analysis and Forecasts to 2027 by Component, Deployment, Organization Size and End-User

Europe Identity Verification Market to 2027 - Regional Analysis and Forecasts By Component (Solution and Service), Deployment (On-premise and Cloud), Organization Size (Small & Medium Enterprises and Large Enterprises), End-user (BFSI, Government, Healthcare, IT & Telecom, Retail, and Others)

  • Report Code : TIPRE00006291
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 154
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Europe identity verification market is expected to grow from US$ 1.46 Bn in 2018 to US$ 4.40 Bn by the year 2027. This represents a CAGR of 13.3% 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. In the coming years, the emergence of secure transaction platforms enabling the financial institutions to configure a range of monitoring scenarios, performing efficient data analysis and filter out the genuine suspicious activities from the other false positives are expected to gain significant traction in the market. This, in response, is expected to bolster the demand for identity verification solutions. These versatile benefits are expected to drive the market growth of identity verification market.

Currently, the U.K is dominating the identity verification market due to the technological advancements and increasing security concerns. United Kingdom (UK) economy is a market-orientated and highly developed. In terms of nominal GDP, the UK is the world’s fifth-largest national economy and Europe’s second-largest after Germany. The service sector contributes close to 80% of its GDP with financial services is one of the most important sectors. The UK is also a member of the European Union, the Commonwealth, G7, G20, and IMF among many others. Currently, the UK has by far the strongest ecosystem for the adoption and growth of advanced technologies such as artificial intelligence and blockchain. The capital of UK, London, is the most preferred hub for AI and machine learning companies. Due to the evolving digital ecosystem, the demand for the secure business transaction is increasing at a fast pace. Owing to these factors, the future of identity verification solutions looks promising in the UK. Also, the presence of many innovation/research centers for Artificial Intelligence has enabled the country to get charted among one of the world’s promising markets for the development of AI-based identity verification solutions. The banking industry is one of the key adopters of identity verification solutions, and it is expected to drive the future market growth of identity verification market during the forecast period of 2019 to 2027. The figure given below highlights the revenue share of the Rest of Europe in the Europe identity verification market in the forecast period:

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EUROPE IDENTITY VERIFICATION MARKET - SEGMENTATION

Europe Identity Verification Market by Component

  • Solution
  • Services


Europe Identity Verification Market by Deployment

  • On-Premise
  • Cloud


Europe Identity Verification Market by Organization Size

  • SMEs
  • Large Enterprises


Europe Identity Verification Market by End-User

  • BFSI
  • Government & Defense
  • Healthcare
  • IT & Telecom
  • Retail
  • Others


Europe Identity Verification Market by Country

  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Rest of Europe


Companies Mentioned

  • ACUANT, INC.
  • AUTHENTEQ
  • GEMALTO N.V. (THALES GROUP)
  • IDEMIA
  • MITEK SYSTEMS, INC.
  • EXPERIAN INFORMATION SOLUTIONS, INC.
  • JUMIO
  • LEXISNEXIS
  • ONFIDO
  • TRULIOO
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Deployment, Organization Size, End-user

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

UK, Germany, France, Italy, Russia

1. Introduction

1.1 Scope of The Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Europe Identity Verification Market – By Component

1.3.2 Europe Identity Verification Market – By Deployment

1.3.3 Europe Identity Verification Market – By Organisation Size

1.3.4 Europe Identity Verification Market – By End-User

1.3.5 Europe Identity Verification Market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Europe Identity Verification Market Landscape

4.1 Market Overview

4.2 Ecosystem Analysis

4.3 PEST Analysis

4.3.1 Identity Verification Market – Europe PEST Analysis

5. Europe Identity Verification Market – Key Industry Dynamics

5.1 Drivers

5.1.1 Growing Adoption of Security Solutions Due to Increasing Number of Cyber-Attacks to Have a Positive Impact on the Market Growth

5.1.2 Increased Focus of BFSI Sector on Secure Transaction

5.2 Restraints

5.2.1 Data Privacy and Security Concerns

5.3 Opportunities

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 Driver and Restraint

6. Europe Identity Verification –Market Analysis

6.1 Europe Identity Verification Market Overview

6.2 Europe Identity Verification Market Forecast and Analysis

7. Europe Identity Verification Market Analysis – By Component

7.1 Overview

7.2 Europe Identity Verification Market Breakdown, By Component, 2018 & 2027

7.3 Solutions Market

7.3.1 Overview

7.3.2 Solutions Market Forecast and Analysis

7.4 Services Market

7.4.1 Overview

7.4.2 Services Market Forecast and Analysis

8. Europe Identity Verification Market Analysis–By End User

8.1 Overview

8.2 Europe Identity Verification Market Breakdown, By End Users, 2018 & 2027

8.3 BFSI Market

8.3.1 Overview

8.3.2 BFSI Market Forecast and Analysis

8.4 Government Market

8.4.1 Overview

8.4.2 Government Market Forecast and Analysis

8.5 Retail Market

8.5.1 Overview

8.5.2 Retail Market Forecast and Analysis

8.6 Healthcare Market

8.6.1 Overview

8.6.2 Healthcare Market Forecast and Analysis

8.7 IT and Telecom Market

8.7.1 Overview

8.7.2 IT and Telecom Market Forecast and Analysis

8.8 Others Market

8.8.1 Overview

8.8.2 Others Market Forecast and Analysis

9. Europe Identity Verification Market Analysis – By Organisation Size

9.1 Overview

9.2 Europe Identity Verification Market Breakdown, By Organisation Size, 2018 & 2027

9.3 Small & Medium Enterprises

9.3.1 Overview

9.3.2 Small & Medium Enterprises Market Forecasts and Analysis

9.4 Large Enterprises

9.4.1 Overview

9.4.2 Europe Large Enterprises Market Forecasts and Analysis

10. Europe Identity Verification Market Analysis – By Deployment

10.1 Overview

10.2 Europe Identity Verification Market Breakdown, By Deployment, 2018 & 2027

10.3 Cloud- Based Deployment

10.3.1 Overview

10.3.2 Cloud-Based Deployment Market Forecasts and Analysis

10.4 On-Premise Deployment

10.4.1 Overview

10.4.2 On-Premise Deployment Market Forecasts and Analysis

11. Europe Identity Verification Market – Country Analysis

11.1 Overview

11.1.1 Europe Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

11.1.2 Europe Identity Verification Market Breakdown, By Key Countries

11.1.2.1 Germany identity verification market Revenue and Forecasts to 2027 (US$ MN)

11.1.2.1.1 Germany Identity Verification Market Breakdown by Component

11.1.2.1.2 Germany Identity Verification Market Breakdown by Deployment

11.1.2.1.3 Germany Identity Verification Market Breakdown by Organization Size

11.1.2.1.4 Germany Identity Verification Market Breakdown by End User

11.1.2.2 UK identity verification market Revenue and Forecasts to 2027 (US$ MN)

11.1.2.2.1 UK Identity Verification Market Breakdown by Component

11.1.2.2.2 UK Identity Verification Market Breakdown by Deployment

11.1.2.2.3 UK Identity Verification Market Breakdown by Organization Size

11.1.2.2.4 UK Identity Verification Market Breakdown by End User

11.1.2.3 France identity verification market Revenue and Forecasts to 2027 (US$ MN)

11.1.2.3.1 France Identity Verification Market Breakdown by Component

11.1.2.3.2 France Identity Verification Market Breakdown by Deployment

11.1.2.3.3 France Identity Verification Market Breakdown by Organization Size

11.1.2.3.4 France Identity Verification Market Breakdown by End User

11.1.2.4 Italy identity verification market Revenue and Forecasts to 2027 (US$ Mn)

11.1.2.4.1 Italy Identity Verification Market Breakdown by Component

11.1.2.4.2 Italy Identity Verification Market Breakdown by Deployment

11.1.2.4.3 Italy Identity Verification Market Breakdown by Organization Size

11.1.2.4.4 Italy Identity Verification Market Breakdown by End User

11.1.2.5 Russia identity verification market Revenue and Forecasts to 2027 (US$ Mn)

11.1.2.5.1 Russia Identity Verification Market Breakdown by Component

11.1.2.5.2 Russia Identity Verification Market Breakdown by Deployment

11.1.2.5.3 Russia Identity Verification Market Breakdown by Organization Size

11.1.2.5.4 Russia Identity Verification Market Breakdown by End User

11.1.2.6 Rest of Europe identity verification market Revenue and Forecasts to 2027 (US$ Mn)

11.1.2.6.1 Rest of Europe Identity Verification Market Breakdown by Component

11.1.2.6.2 Rest of Europe Identity Verification Market Breakdown by Deployment

11.1.2.6.3 Rest of Europe Identity Verification Market Breakdown by Organization Size

11.1.2.6.4 Rest of Europe Identity Verification Market Breakdown by End User

12. Industry Landscape

12.1 Market Initiative

12.2 Merger and Acquisition

12.3 New Development

13. Company Profiles

13.1 Acuant, Inc.

13.1.1 Key Facts

13.1.2 Business Description

13.1.3 Products and Services

13.1.4 Financial Overview

13.1.5 Swot Analysis

13.1.6 Key Developments

13.2 Authenteq

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 Swot Analysis

13.2.6 Key Developments

13.3 Experian plc

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 Gemalto N.V. (Thales Group)

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 IDEMIA

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Product and Services

13.5.4 Financial Overview

13.5.5 Swot Analysis

13.5.6 Key Developments

13.6 Jumio Corporation

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Swot Analysis

13.6.5 Key Developments

13.7 LexisNexis

13.7.1 Key Facts

13.7.2 Business Description

13.7.3 Products and Services

13.7.4 SWOT Analysis

13.7.5 Key Developments

13.8 Mitek Systems, Inc.

13.8.1 Key Facts

13.8.2 Business Description

13.8.3 Products and Services

13.8.4 Financial Overview

13.8.5 SWOT Analysis

13.8.6 Key Developments

13.9 Onfido

13.9.1 Key Facts

13.9.2 Business Description

13.9.3 Products and Services

13.9.4 SWOT Analysis

13.9.5 Key Developments

13.10 Trulioo

13.10.1 Key Facts

13.10.2 Business Description

13.10.3 Products and Services

13.10.4 Swot Analysis

13.10.5 Key Developments

14. Appendix

14.1 About The Insight Partners

14.2 Glossary

14.3 Methodology

14.3.1 Coverage

14.3.2 Secondary Research

14.3.3 Primary Research

LIST OF TABLES

Table 1. Europe Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

Table 2. Europe Identity Verification Market Revenue and Forecasts to 2027 – By Component (US$ Mn)

Table 3. Europe Identity Verification Market Revenue and Forecasts to 2027 – By End User (US$ Mn)

Table 4. Europe Identity Verification Market Revenue and Forecasts to 2027 – By Organization Size (US$ Mn)

Table 5. Europe Identity Verification Market Revenue and Forecasts to 2027 – By Deployment (US$ Mn)

Table 6. Germany Identity Verification Market Revenue and Forecasts to 2027 – By Component (US$ Mn)

Table 7. Germany Identity Verification Market Revenue and Forecasts to 2027 – By Deployment (US$ Mn)

Table 8. Germany Identity Verification Market Revenue and Forecasts to 2027 – By Organization Size (US$ Mn)

Table 9. Germany Identity Verification Market Revenue and Forecasts to 2027 – By End User (US$ Mn)

Table 10. UK Identity Verification Market Revenue and Forecasts to 2027 – By Component (US$ Mn)

Table 11. UK Identity Verification Market Revenue and Forecasts to 2027 – By Deployment (US$ Mn)

Table 12. UK Identity Verification Market Revenue and Forecasts to 2027 – By Organization Size (US$ Mn)

Table 13. UK Identity Verification Market Revenue and Forecasts to 2027 – By End User (US$ Mn)

Table 14. France Identity Verification Market Revenue and Forecasts to 2027 – By Component (US$ Mn)

Table 15. France Identity Verification Market Revenue and Forecasts to 2027 – By Deployment (US$ Mn)

Table 16. France Identity Verification Market Revenue and Forecasts to 2027 – By Organization Size (US$ Mn)

Table 17. France Identity Verification Market Revenue and Forecasts to 2027 – By End User (US$ Mn)

Table 18. Italy Identity Verification Market Revenue and Forecasts to 2027 – By Component (US$ Mn)

Table 19. Italy Identity Verification Market Revenue and Forecasts to 2027 – By Deployment (US$ Mn)

Table 20. Italy Identity Verification Market Revenue and Forecasts to 2027 – By Organization Size (US$ Mn)

Table 21. Italy Identity Verification Market Revenue and Forecasts to 2027 – By End User (US$ Mn)

Table 22. Russia Identity Verification Market Revenue and Forecasts to 2027 – By Component (US$ Mn)

Table 23. Russia Identity Verification Market Revenue and Forecasts to 2027 – By Deployment (US$ Mn)

Table 24. Russia Identity Verification Market Revenue and Forecasts to 2027 – By Organization Size (US$ Mn)

Table 25. Russia Identity Verification Market Revenue and Forecasts to 2027 – By End User (US$ Mn)

Table 26. Rest of Europe Identity Verification Market Revenue and Forecasts to 2027 – By Component (US$ Mn)

Table 27. Rest of Europe Identity Verification Market Revenue and Forecasts to 2027 – By Deployment (US$ Mn)

Table 28. Rest of Europe Identity Verification Market Revenue and Forecasts to 2027 – By Organization Size (US$ Mn)

Table 29. Rest of Europe Identity Verification Market Revenue and Forecasts to 2027 – By End User (US$ Mn)

Table 30. Glossary of Terms, Europe Identity Verification Market

LIST OF FIGURES

Figure 1. Europe Identity Verification Market Segmentation

Figure 2. Europe Identity Verification Market Segmentation – By Region

Figure 3. U.K Identity Verification Market , Revenue forecast, (2018 – 2027) (Mn)

Figure 4. Identity Verification – Ecosystem Analysis

Figure 5. Europe- PEST Analysis

Figure 6. Impact Analysis of Driver and Restraint

Figure 7. Europe Identity Verification Market Forecast and Analysis, (Us$ Mn)

Figure 8. Europe Identity Verification Market Breakdown, By Component, 2017 & 2027 (%)

Figure 9. Europe Solutions Market Revenue and Forecasts to 2027(US$ Mn)

Figure 10. Europe Services Market Revenue and Forecasts to 2027(US$ Mn)

Figure 11. Europe Identity Verification Market Breakdown, By End Users, 2018 & 2027 (%)

Figure 12. Europe BFSI Market Revenue and Forecasts to 2027(US$ Mn)

Figure 13. Europe Government Market Revenue and Forecasts to 2027(US$ Mn)

Figure 14. Europe Retail Market Revenue and Forecasts to 2027(US$ Mn)

Figure 15. Europe Healthcare Market Revenue and Forecasts to 2027(US$ Mn)

Figure 16. Europe IT and Telecom Market Revenue and Forecasts to 2027(US$ Mn)

Figure 17. Europe Others Market Revenue and Forecasts to 2027(US$ Mn)

Figure 18. Europe Identity Verification Market Breakdown, By Organisation Size, 2018 & 2027 (%)

Figure 19. Europe Small & Medium Enterprises Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 20. Europe Large Enterprises Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 21. Europe Identity Verification Market Breakdown, By Deployment, 2018 & 2027 (%)

Figure 22. Europe Cloud-Based Deployment Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 23. Europe On-Premise Deployment Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 24. Europe Identity Verification Market Breakdown by Key Countries, 2018 & 2027(%)

Figure 25. Germany Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 26. UK Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 27. France Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 28. Italy Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 29. Russia Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 30. Rest of Europe Identity Verification Market Revenue and Forecasts to 2027 (US$ Mn)

The List of Companies

  1. ACUANT, INC.
  2. AUTHENTEQ
  3. GEMALTO N.V.(THALES GROUP)
  4. IDEMIA
  5. MITEK SYSTEMS, INC.
  6. EXPERIAN INFORMATION SOLUTIONS, INC.
  7.  JUMIO
  8.  LEXISNEXIS
  9. ONFIDO
  10. TRULIOO

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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