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The identity verification market size is projected to increase by USD 16.92 billion at a CAGR of 20.3% between 2023 and 2028. The growth of the market is driven by various factors, including the increasing demand for digitalization with electronic ID cards (eID) and smart infrastructure projects. Recent global data breaches have highlighted the need for strong identity verification measures such as digital identity and security. Compliance with stringent data protection regulations is also driving market growth. Identity verification plays a crucial role in ensuring that processes are conducted by legitimate individuals, preventing unauthorized access, identity fraud, and impersonation attempts. Verifying the authenticity of individuals helps to protect against misuse of personal information and fraudulent activities. As businesses prioritize security and regulatory compliance, the demand for advanced identity verification solutions and fraud detection and prevention is increasing, positioning the market for sustained growth in the evolving digital landscape.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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