Middle East & Africa Identity Verification Market Size & Outlook
Middle East & Africa identity verification market, 2018-2030 (US$M)
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MEA identity verification market highlights
- The MEA identity verification market generated a revenue of USD 1,324.8 million in 2023.
- The market is expected to grow at a CAGR of 17.7% 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.
MEA data book summary
| Market revenue in 2023 | USD 1,324.8 million |
| Market revenue in 2030 | USD 4,139.2 million |
| Growth rate | 17.7% (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, MEA region accounted for 11.5% 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 |
|---|
Middle East & Africa 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 70.8% in 2022. Horizon Databook has segmented the Middle East & Africa identity verification market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The regional growth is driven by a combination of factors including government initiatives aimed at diversifying economies through technology adoption and increasing investment in smart city projects. Additionally, there is a rising demand for immersive training solutions in industries such as healthcare and defense, which are leveraging VR and AR to enhance learning outcomes. These factors are expected to drive the market growth in the coming years.
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Target buyers of Middle East & Africa 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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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa identity verification market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa identity verification market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Identity Verification Market Outlook Share, 2022 & 2030 (US$M)
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