MarketStudyReport.com Adds New Europe Identity Verification Market 2018 – 2027 research report providing information and data By Component, Deployment, Organization Size, End-user, Industry Analysis, Regional Outlook, Competitive Market Share & Forecast spreading across 154 Pages with table and figures in it.
Delaware, Selbyville - August 9, 2019 /MarketersMedia/ —
The Europe identity verification market by deployment is segmented into cloud and on-premise. On-premise deployment refers to the resources and IT infrastructure deployed at a client?s location. The on-premise deployment includes in-house server hardware, integration capabilities, software licenses, and IT workforce to handle potential issues. The growth rate of the on-premise deployment segment varies across geographies. For instance, the adoption of on-premise is high in developing regions and is being replaced by the cloud in developed regions. One of the major restraining factors for the future growth of this segment is the costs associated with installing, managing, and maintaining these on-premise systems. It is expected that during the forecast period, the identity management market will witness a massive shift from on-premise to cloud-based deployment. The on-premise deployment type segment is the traditional identity verification deployment type.
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Presently, most of the customers of identity verification providers belong to large enterprises, mainly due to large scale operations and faster adoption of digital and technological advancements on these businesses. Large companies worldwide are in the front of digital transformation to improve existing processes; however, small and medium-sized enterprises are still in the process of adapting to the latest technology trends. Some of the primary reasons behind this include resource constraints and lack of knowledge & awareness about the potential benefits of digital transformation. Hence, the small and medium-sized enterprises as well as organizations that are still following do-it-yourself methods for identity verification present tremendous strategic value and growth opportunity for players operating in the identity verification market.
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. The growing sophistication of security information platforms and IT security-based tools & solutions is anticipated to have a profound impact on the overall management of the security ecosystem of an enterprise. The unprecedented growth in the number of cybersecurity incidents has further led to an increased need for robust security solutions across enterprises. The market demand for identity verification solutions has gained significant traction in the past few years owing to the versatile capabilities of these systems such as identity verification, data identification, fraud detection, and others. Some of the prominent benefits of identity verification include real-time ID verification, extracting data directly from IDs without any friction, active document authentication & verification, mitigate the risk of spoofing, and others. All these benefits and capabilities offered by identity verification provide long term benefits to enterprises. These versatile benefits are expected to drive the market growth of identity verification market.
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The Europe 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 two companies.
The overall Europe identity verification market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe identity verification market. It also provides an overview and forecast for the Europe identity verification market based on all the segmentation provided for the European region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Europe identity verification industry. Some of the players present in Europe identity verification market are Acuant, Inc., Authenteq, Gemalto NV (Thales Group), Idemia, Mitek Systems, Inc., Experian Information Solutions, Inc., Jumio, LexisNexis, Onfido, and Trulioo among others.
Table of content:
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
Related Report:
North America 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)
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. This 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.
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