Latin America Identity Verification Market Size & Outlook
Latin America identity verification market, 2018-2030 (US$M)
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Latin America identity verification market highlights
- The Latin America identity verification market generated a revenue of USD 1,034.5 million in 2023.
- The market is expected to grow at a CAGR of 16.9% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,034.5 million |
| Market revenue in 2030 | USD 3,087.6 million |
| Growth rate | 16.9% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 9.0% of the global identity verification market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,667.7 million by 2030.
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Identity Verification Market Scope
Identity Verification Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 70.1% in 2022. Horizon Databook has segmented the Latin America identity verification market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The region is seeing a rise in mobile device usage and internet penetration, which are critical for the adoption of VR and AR applications. Moreover, sectors such as gaming and entertainment are becoming key areas for immersive technology deployment, driven by local content creation and partnerships with global tech firms. As businesses recognize the potential of immersive experiences for customer engagement and training purposes, the market is expected to expand steadily over the coming years.
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Target buyers of Latin America 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 continent-level data and insights on the Latin America identity verification market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America identity verification market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America identity verification market size, by country, 2018-2030 (US$M)
Latin America Identity Verification Market Outlook Share, 2022 & 2030 (US$M)
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