Identity Verification Solutions Quadrant Report

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Identity Verification Market (Global) Company Evaluation Quadrant
Published on
May'2019
Pages
56
Code
360-TC 7096
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Identity verification solutions allow organizations to verify the digital identities of new and existing clients quickly. The solutions use the power of the latest technologies, such as machine learning, face-based biometrics, and AI, to ensure whether an individual is who they claim to be. Its features include digital identity verification, identity authentication, ID verification, fraud prevention, and compliance management. Organizations deploy identity verification solutions to ensure whether the information provided by users or customers associated with their identity is real or fake, in real-time.

The global Identity Verification market is expected to grow to USD 13 billion by 2024. Major factors driving the growth of the market include increasing emphasis on compliance management, enterprise mobility and BYOD trends, and rising number of identity-related frauds and data breaches.

MARKET DYNAMICS: IDENTITY VERIFICATION MARKET

Experian (Ireland), LexisNexis (US), Equifax (US), Mitek Systems (US), and Gemalto (Netherlands) are some of the best Identity Verification Software Providers operating in this market.

This report identifies and benchmarks the key market players in the Identity Verification market and evaluates them on the basis of business strategy excellence and strength of product portfolio within the Identity Verification market ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant,’ and identified as Visionary Leaders, Dynamic Differentiators, Innovators, or Emerging companies.

The report includes market-specific company profiles of Top 15 companies in the Identity Verification market. It assesses the recent developments that shape the competitive landscape of this highly fragmented market.


List of Top 15 companies in the Identity Verification market evaluated and profiled in the report:

  • ACUANT
  • AUTHENTEQ
  • EQUIFAX
  • EXPERIAN
  • GEMALTO
  • IDEMIA
  • IDENFY
  • IDMERIT
  • JUMIO
  • LEXISNEXIS RISK SOLUTIONS
  • MITEK SYSTEMS
  • ONFIDO
  • SHUFTI PRO
  • TRANSUNION
  • TRULIOO

Table of Contents

1 Introduction
   1.1 Market Definition

2 Market Overview
   2.1 Introduction
   2.2 Market Dynamics
          Figure 1 Enterprise Mobility and Byod Trends to Drive the Growth of the Identity Verification Market
          2.2.1 Drivers
                    2.2.1.1 Rising Number of Identity-Related Frauds and Data Breaches
                                 Figure 2 Identity Frauds in 2017
                    2.2.1.2 Stringent Regulations and Need for Compliance to Drive the Adoption of Identity Verification Solutions
                    2.2.1.3 Enterprise Mobility and Byod Trends
          2.2.2 Restraints
                    2.2.2.1 Budgetary Limitations Inhibiting the Adoption of Identity Verification Solutions
          2.2.3 Opportunities
                    2.2.3.1 Integration of AI and Ml Technologies to Enhance Identity Verification Solutions
                    2.2.3.2 Proliferation of Cloud-Based Identity Verification Solutions and Services
          2.2.4 Challenges
                    2.2.4.1 Aggregating Critical Enterprise Data Distributed Across Multiple Locations Within a Business
   2.3 Regulatory Landscape
         2.3.1 Payment Services Directive 2
         2.3.2 Electronic Identification, Authentication, and Trust Services
         2.3.3 Know Your Customer
         2.3.4 Anti-Money Laundering
         2.3.5 General Data Protection Regulation
         2.3.6 Payment Card Industry Data Security Standard
         2.3.7 Health Insurance Portability and Accountability Act
         2.3.8 Federal Information Processing Standards
   2.4 Innovation Spotlight
          Table 1 Innovation Spotlight: Latest Identity Verification Solutions
   2.5 Use Cases
         2.5.1 Adoption of Identity Verification Solution By a Financial Organization in Canada
         2.5.2 Reliance on Identity Verification Solution By a Brokerage Firm in the US
         2.5.3 Adoption of Identity Verification Solution By a Credit Union in the US

3 Company Evaluation Quadrant
   3.1 Overview
         3.1.1 Visionary Leaders
         3.1.2 Innovators
         3.1.3 Dynamic Differentiators
         3.1.4 Emerging Companies
                   Figure 3 Identity Verification Market (Global) Company Evaluation Quadrant
   3.2 Strength of Product Portfolio
   3.3 Business Strategy Excellence

4 Competitive Landscape
   Figure 4 Organic and Inorganic Strategies Adopted By Leading Players in the Identity Verification Market, 2016–2019
   4.1 Competitive Scenario
         4.1.1 Partnerships, Agreements, and Collaborations
                   Table 2 Partnerships, Agreements, and Collaborations, 2019
         4.1.2 New Product Launches/Product Enhancements
                   Table 3 New Product Launches/Product Enhancements, 2017–2019
         4.1.3 Mergers and Acquisitions
                   Table 4 Mergers and Acquisitions, 2018–2018
         4.1.4 Business Expansions
                   Table 5 Business Expansions, 2018–2018

5 Company Profiles
   5.1 Introduction
          Figure 5 Geographic Revenue Mix of the Top Players in the Identity Verification Market
   5.2 Experian
         5.2.1 Business Overview*
                   Figure 6 Experian: Company Snapshot
         5.2.2 Solutions and Services Offered*
         5.2.3 Recent Developments*
         5.2.4 SWOT Analysis*
                   Figure 7 Experian: SWOT Analysis
         5.2.5 MnM View*
         (*Above sections are present for all of below companies)
   5.3 LexisNexis Risk Solutions
          Figure 8 LexisNexis Risk Solutions: Company Snapshot
          Figure 9 LexisNexis Risk Solutions: SWOT Analysis
   5.4 Equifax
          Figure 10 Equifax: Company Snapshot
          Figure 11 Equifax: SWOT Analysis
   5.5 Mitek Systems
          Figure 12 Mitek Systems: Company Snapshot
          Figure 13 Mitek Systems: SWOT Analysis
   5.6 Gemalto
          Figure 14 Gemalto: Company Snapshot
          Figure 15 Gemalto: SWOT Analysis
   5.7 Onfido
   5.8 Trulioo
   5.9 Acuant
   5.10 IDEMIA
   5.11 Jumio

6 Appendix
   6.1 Other Significant Players
         6.1.1 Authenteq
         6.1.2 Shufti Pro
         6.1.3 IDMERIT
         6.1.4 TransUnion
         6.1.5 iDenfy
   6.2 Methodology

This report identifies and benchmarks the key market players in the Identity Verification market such as Experian (Ireland), LexisNexis (US), Equifax (US), Mitek Systems (US), and Gemalto (Netherlands), and evaluates them on the basis of business strategy excellence and strength of product portfolio within the Identity Verification market ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant,’ and identified as Visionary Leaders, Dynamic Differentiators, Innovators, or Emerging companies.

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