China Identity Verification Market Size & Outlook
China identity verification market, 2018-2030 (US$M)
Related Markets
China identity verification market highlights
- The China identity verification market generated a revenue of USD 717.4 million in 2023 and is expected to reach USD 2,438.3 million by 2030.
- The China market is expected to grow at a CAGR of 19.1% from 2024 to 2030.
- In terms of segment, solution was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Identity verification market data book summary
| Market revenue in 2023 | USD 717.4 million |
| Market revenue in 2030 | USD 2,438.3 million |
| Growth rate | 19.1% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
| Key market players worldwide | Thales, TransUnion, Intellicheck Inc, Mitek Systems Inc, GB Group PLC, Experian PLC, Equifax Inc, Acuant, IDEMIA, Nuance Communications |
Other key industry trends
- In terms of revenue, China accounted for 6.2% of the global identity verification market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China identity verification market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,124.0 million by 2030.
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Identity Verification Market Scope
Identity Verification Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
China identity verification market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to identity verification market will help companies and investors design strategic landscapes.
Solution was the largest segment with a revenue share of 70.25% in 2022. Horizon Databook has segmented the China identity verification market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The growth is driven by substantial investments in 5G infrastructure, which enhances the potential for seamless virtual and augmented reality experiences. The Chinese government actively promotes emerging technologies, including AR and VR, as part of its "Made in China 2025" initiative, leading to increased funding for startups and R&D activities in this space.
Additionally, a tech-savvy population with high demand for interactive and immersive experiences in gaming, entertainment, and education is propelling market growth. The combination of economic growth, rising disposable incomes, and a strong manufacturing base further supports the accessibility and affordability of immersive technologies for consumers.
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Target buyers of China identity verification market databook
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Our clientele includes a mix of identity verification market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China identity verification market , including forecasts for subscribers. This country databook contains high-level insights into China identity verification market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China identity verification market size, by component, 2018-2030 (US$M)
China Identity Verification Market Outlook Share, 2022 & 2030 (US$M)
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