Identity Verification Market Growth Projected to Hit $21.8 Billion by 2028

Thursday, 21 March 2024, 14:00

The global Identity Verification Market is poised for significant expansion, with projections showing it will grow from USD 10.9 billion in 2023 to USD 21.8 billion by 2028 at a CAGR of 14.9%. Increasing incidents of identity theft, rising cybersecurity concerns, and stringent regulatory requirements are key drivers of this growth. The market is expected to witness a surge in demand for advanced identity verification solutions in the coming years.
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Identity Verification Market Growth Projected to Hit $21.8 Billion by 2028

Identity Verification Market Overview

The global Identity Verification Market is on track to double its value from USD 10.9 billion in 2023 to USD 21.8 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 14.9%.

Key Drivers

  • Rising incidence of identity theft
  • Increasing concerns related to cybersecurity
  • Stringent regulatory requirements

Market Growth

  1. Projected growth rate: 14.9%
  2. Expected market value by 2028: USD 21.8 billion

The sector is anticipated to experience a surge in demand for cutting-edge identity verification solutions to combat emerging threats.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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