Digital Security Concerns Drive Growth of Identity Verification Market in Europe

"Executive Summary Europe Identity Verification and Authentication Market :

Data Bridge Market Research analyses that the market is growing with a CAGR of 17.1% in the forecast period of 2021 to 2028 and is expected to reach USD 21,269.02 million by 2028. 

This Europe Identity Verification and Authentication Market report endows with an exhaustive survey of key players in the market which is based on a range of objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization. It studies market by product type, applications and growth factors. This Europe Identity Verification and Authentication Market report puts light on the entire market trends and analyses the effect of buyers, consumers, substitutes, new entrants, competitors, and suppliers on the market. The report gives you the market insights which help you have a more precise understanding of the market landscape, issues that may impose on the industry in the future, and how to position specific brands in the best way.

This Europe Identity Verification and Authentication Market report explains market definition, classifications, applications, and engagements in the market. The report makes available an in depth description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with their SWOT analysis and porter's five force analysis. This report is the best overview about global industry perspective, comprehensive analysis, size, share, growth, segment, trends and forecast. The report also includes estimations of all the market drivers and market restraints which are mainly obtained from SWOT analysis while also providing the CAGR projections for the historic year 2016, base year 2017 and forecast period.

Discover the latest trends, growth opportunities, and strategic insights in our comprehensive Europe Identity Verification and Authentication Market report. Download Full Report: https://www.databridgemarketresearch.com/reports/europe-identity-verification-and-authentication-market

Europe Identity Verification and Authentication Market Overview

Segments

• By Component: Solutions, Services
• By Type: Single-Factor Authentication, Multi-Factor Authentication
• By Deployment Mode: Cloud, On-Premises
• By Organization Size: Small and Medium-Sized Enterprises, Large Enterprises
• By Vertical: BFSI, Government and ense, Healthcare, IT and Telecommunications, Energy and Utilities, Others

The Europe Identity Verification and Authentication market is segmented by component, type, deployment mode, organization size, and vertical. In terms of components, the market is categorized into solutions and services. Solutions segment is further divided into various sub-segments such as identity verification, authentication, document verification, and biometric verification. Services segment includes managed services, professional services, and consulting services. When considering the type of authentication, it is segmented into single-factor authentication and multi-factor authentication. Deployment mode categorizes the market into cloud and on-premises solutions. Organization size segments include small and medium-sized enterprises, as well as large enterprises. The vertical segmentation covers industries such as BFSI, Government and ense, Healthcare, IT and Telecommunications, Energy and Utilities, among others.

Market Players

• Onfido
• Mitek Systems, Inc.
• Jumio
• IDEMIA
• Trulioo
• Authenteq
• Acuant
• Signicat AS
• Gemalto
• Experian
• LexisNexis
• Equifax
• GB Group
• Thales Group
• IDnow GmbH
• Ping Identity
• iDenfy
• IDology
• TransUnion

Key market players in the Europe Identity Verification and Authentication market include Onfido, Mitek Systems, Inc., Jumio, IDEMIA, Trulioo, Authenteq, Acuant, Signicat AS, Gemalto, Experian, LexisNexis, Equifax, GB Group, Thales Group, IDnow GmbH, Ping Identity, iDenfy, IDology, and TransUnion. These players are actively involved in product launches, partnerships, collaborations, and acquisitions to gain a competitive edge in the market and enhance their market presence.

The Europe Identity Verification and Authentication market is witnessing significant growth due to the increasing need for secure digital identities across various industries. One of the key drivers of market growth is the rising number of data breaches and identity theft cases, leading organizations to invest in robust identity verification and authentication solutions to safeguard their data and systems. Additionally, stringent regulations and compliance requirements related to data protection are compelling companies to adopt advanced identity verification technologies to ensure regulatory compliance and mitigate risks.

Moreover, the growing adoption of digital transformation initiatives is creating a demand for seamless and secure authentication processes to enhance user experiences and prevent unauthorized access to sensitive information. Industries such as BFSI, Government and ense, Healthcare, IT and Telecommunications, and Energy and Utilities are among the major adopters of identity verification and authentication solutions to protect customer data, confidential information, and critical infrastructure from cyber threats.

In terms of market dynamics, technological advancements in biometric authentication, artificial intelligence, machine learning, and blockchain are driving innovation in identity verification and authentication solutions. These technologies offer enhanced security features, such as facial recognition, fingerprint scanning, voice biometrics, and behavioral analytics, to provide more secure and convenient authentication methods for users.

Furthermore, the competitive landscape of the Europe Identity Verification and Authentication market is characterized by intense rivalry among key players such as Onfido, Mitek Systems, Jumio, IDEMIA, and others. These companies are focusing on strategic initiatives such as product development, partnerships, and acquisitions to expand their product portfolios, strengthen their market position, and address the evolving needs of customers in the region.

Overall, the Europe Identity Verification and Authentication market is poised for substantial growth in the coming years, driven by factors such as increasing cybersecurity threats, regulatory compliance requirements, digital transformation initiatives, and technological advancements in authentication technologies. Companies that can effectively innovate and adapt to the changing market dynamics are likely to emerge as key players in the competitive landscape and capitalize on the growing demand for identity verification and authentication solutions across various industry verticals.The Europe Identity Verification and Authentication market is experiencing significant growth propelled by the escalating need for secure digital identities across industries. With the surge in data breaches and identity theft instances, organizations are increasingly investing in robust identity verification and authentication solutions to safeguard their data and systems. Additionally, stringent regulations and compliance requirements are prompting companies to adopt advanced technologies to ensure regulatory adherence and mitigate risks.

Furthermore, the accelerating adoption of digital transformation initiatives is fueling the demand for seamless and secure authentication processes to enhance user experiences and fortify enses against unauthorized access to sensitive information. Key industries such as BFSI, Government and ense, Healthcare, IT and Telecommunications, and Energy and Utilities are among the primary adopters of identity verification and authentication solutions to shield customer data, confidential information, and critical infrastructure from cyber threats.

The market dynamics are shaped by technological advancements in biometric authentication, artificial intelligence, machine learning, and blockchain, fostering innovation in identity verification and authentication solutions. These cutting-edge technologies offer enhanced security features like facial recognition, fingerprint scanning, voice biometrics, and behavioral analytics, ensuring more secure and convenient authentication methods for users.

Moreover, the competitive landscape in the Europe Identity Verification and Authentication market is marked by fierce competition among major players such as Onfido, Mitek Systems, Jumio, IDEMIA, among others. These entities are focusing on strategic initiatives including product development, partnerships, and acquisitions to enrich their product portfolios, reinforce their market presence, and cater to the evolving needs of customers in the region.

In conclusion, the Europe Identity Verification and Authentication market is poised for substantial expansion in the foreseeable future, driven by factors like increasing cybersecurity threats, regulatory compliance mandates, digital transformation endeavors, and technological breakthroughs in authentication technologies. Companies that can innovate effectively and adapt to the evolving market landscape are likely to emerge as key players in the competitive arena and capitalize on the escalating demand for identity verification and authentication solutions across diverse industry verticals.

The Europe Identity Verification and Authentication Market is highly fragmented, featuring intense competition among both global and regional players striving for market share. To explore how global trends are shaping the future of the top 10 companies in the keyword market.

Learn More Now: https://www.databridgemarketresearch.com/reports/europe-identity-verification-and-authentication-market/companies

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The investment made in the study would provide you access to information such as:

• Europe Identity Verification and Authentication Market [Global Europe Identity Verification and Authentication Market – Broken-down into regions]
• Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
• Country wise Market Size Split [of important countries with major Europe Identity Verification and Authentication Market share]
• Market Share and Revenue/Sales by leading players
• Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter's Five Forces, etc.
• Market Size)
• Market Size by application/industry verticals
• Market Projections/Forecast

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