India Identity Verification Market Size & Outlook
India identity verification market, 2018-2030 (US$M)
Related Markets
India identity verification market highlights
- The India identity verification market generated a revenue of USD 608.6 million in 2023 and is expected to reach USD 2,124.0 million by 2030.
- The India market is expected to grow at a CAGR of 19.5% 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 608.6 million |
| Market revenue in 2030 | USD 2,124.0 million |
| Growth rate | 19.5% (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, India accounted for 5.3% 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 |
|---|
India 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 70.31% in 2022. Horizon Databook has segmented the India identity verification market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The country's growing middle class is driving demand for innovative applications in gaming, entertainment, and education, with immersive technologies enabling more engaging user experiences. Additionally, the rise of e-commerce platforms utilizing immersive technology for virtual shopping experiences also contributes to market expansion as businesses seek to enhance customer engagement.
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Target buyers of India 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 India identity verification market , including forecasts for subscribers. This country databook contains high-level insights into India identity verification market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India identity verification market size, by component, 2018-2030 (US$M)
India Identity Verification Market Outlook Share, 2022 & 2030 (US$M)
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