Summary

KEY INSIGHTS
The Asia-Pacific identity verification market is set to register a CAGR of 15.83% during the forecast period, 2023-2032. The market growth is attributed to technological advancements, consistent government support, and the use of emerging technologies like machine learning and artificial intelligence.
MARKET INSIGHTS
Australia & New Zealand, Thailand, Japan, South Korea, China, Vietnam, Indonesia, India, and Rest of Asia-Pacific are analyzed for the Asia-Pacific identity verification market growth evaluation. Multiple industry sectors in Japan are actively integrating and deploying a wide range of identity verification solutions on a large scale. This trend is anticipated to drive market expansion in the country during the forecast period. For instance, Sumitomo Bank, the second-largest bank in Japan, announced in 2022 its adoption of soulbound tokens for identity validation. Collaborating with Hashport and the Sumitomo Mitsui Financial Group (FG), they aim to establish a "safe and secure web3 economic zone" through the utilization of soulbound coins.
Furthermore, in 2021, the Japanese government selected SAFR from RealNetworks to provide facial biometrics technology in support of the nation's digitization goals. SAFR will specifically offer its facial recognition tools to enable user authorization for the new digital ID set called "My Number" ID card, which is intended to replace traditional paper documents in Japan. SAFR collaborated closely with the Japanese government to develop My Number Card readers, equipped with built-in face biometrics capabilities, to expedite the adoption of facial authentication technology.
Whereas in Indonesia, the widespread adoption of digital IDs throughout the nation has witnessed a notable rise, thereby projected to drive the identity verification market growth in the country. As of 2023, the Indonesian government has unveiled its strategic initiative to expedite the implementation of digital IDs. By advocating for a swift transition from electronic KTP (e-KTP) to a nationwide digital ID (Digital KTP), the government aims to accelerate the country's digital transformation efforts.
COMPETITIVE INSIGHTS
Some of the leading companies in the market include Jumio Corporation, Mastercard Inc, IDEMIA, Intellicheck Inc, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

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Table of Contents

TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.4.1. IMPACT OF COVID-19 ON IDENTITY VERIFICATION MARKET
2.5. MAJOR MARKET FINDINGS
2.5.1. STRINGENT GOVERNMENT REGULATIONS AND MANDATES CONCERNING PRIVACY
2.5.2. ADOPTION OF DIGITAL IDs
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. OCCURRENCES OF IDENTITY THEFTS
3.1.2. RISING DIGITALIZATION INITIATIVES
3.1.3. INCREASING INTERNET PENETRATION AND DIGITAL LITERACY
3.2. KEY RESTRAINTS
3.2.1. PRICE VARIATIONS IN IDENTITY VERIFICATION PRODUCTS
3.2.2. LACK OF TECHNICAL EXPERTISE AND NEED FOR SECURITY AWARENESS & TRAINING
4. KEY ANALYTICS
4.1. KEY TECHNOLOGY TRENDS
4.2. PORTER’S FIVE FORCES ANALYSIS
4.2.1. BUYERS POWER
4.2.2. SUPPLIERS POWER
4.2.3. SUBSTITUTION
4.2.4. NEW ENTRANTS
4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.3.1. GROWTH PROSPECT MAPPING FOR INDIA
4.4. MARKET CONCENTRATION ANALYSIS
4.5. VALUE CHAIN ANALYSIS
4.5.1. COMPONENTS
4.5.2. IDENTITY VERIFICATIONS
4.5.3. DEPLOYMENT
4.5.4. END-USE INDUSTRY
4.6. KEY BUYING CRITERIA
4.6.1. CAPACITY AND COVERAGE
4.6.2. FRAUD CAPABILITIES
4.6.3. DATA STORAGE AND SECURITY
4.6.4. VERIFICATION TYPES
5. MARKET BY COMPONENT
5.1. SOLUTION
5.2. SERVICE
6. MARKET BY DEPLOYMENT TYPE
6.1. ON-PREMISES
6.2. CLOUD
7. MARKET BY TYPE
7.1. BIOMETRICS
7.2. NON-BIOMETRICS
8. MARKET BY ORGANIZATION SIZE
8.1. SMES
8.2. LARGE ENTERPRISES
9. MARKET BY VERTICAL
9.1. BFSI
9.2. GOVERNMENT AND DEFENSE
9.3. HEALTHCARE & LIFE SCIENCES
9.4. RETAIL AND E-COMMERCE
9.5. IT & ITES
9.6. ENERGY AND UTILITIES
9.7. OTHER VERTICALS
10. GEOGRAPHICAL ANALYSIS
10.1. ASIA-PACIFIC
10.1.1. MARKET SIZE & ESTIMATES
10.1.2. ASIA-PACIFIC IDENTITY VERIFICATION MARKET DRIVERS
10.1.3. ASIA-PACIFIC IDENTITY VERIFICATION MARKET CHALLENGES
10.1.4. ASIA-PACIFIC IDENTITY VERIFICATION MARKET REGULATORY FRAMEWORK
10.1.5. KEY PLAYERS IN ASIA-PACIFIC IDENTITY VERIFICATION MARKET
10.1.6. COUNTRY ANALYSIS
10.1.6.1. CHINA
10.1.6.1.1. CHINA IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.2. JAPAN
10.1.6.2.1. JAPAN IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.3. INDIA
10.1.6.3.1. INDIA IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.4. SOUTH KOREA
10.1.6.4.1. SOUTH KOREA IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.5. INDONESIA
10.1.6.5.1. INDONESIA IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.6. THAILAND
10.1.6.6.1. THAILAND IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.7. VIETNAM
10.1.6.7.1. VIETNAM IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.8. AUSTRALIA & NEW ZEALAND
10.1.6.8.1. AUSTRALIA & NEW ZEALAND IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
10.1.6.9. REST OF ASIA-PACIFIC
10.1.6.9.1. REST OF ASIA-PACIFIC IDENTITY VERIFICATION MARKET SIZE & OPPORTUNITIES
11. COMPETITIVE LANDSCAPE
11.1. KEY STRATEGIC DEVELOPMENTS
11.1.1. ACQUISITIONS
11.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
11.1.3. PARTNERSHIPS & AGREEMENTS
11.1.4. BUSINESS EXPANSIONS
11.2. COMPANY PROFILES
11.2.1. AUTHENTICID
11.2.1.1. COMPANY OVERVIEW
11.2.1.2. PRODUCTS LIST
11.2.1.3. STRENGTHS & CHALLENGES
11.2.2. EQUIFAX INC
11.2.2.1. COMPANY OVERVIEW
11.2.2.2. PRODUCTS LIST
11.2.3. EXPERIAN PLC
11.2.3.1. COMPANY OVERVIEW
11.2.3.2. PRODUCTS LIST
11.2.3.3. STRENGTHS & CHALLENGES
11.2.4. GB GROUP PLC
11.2.4.1. COMPANY OVERVIEW
11.2.4.2. PRODUCTS LIST
11.2.4.3. STRENGTHS & CHALLENGES
11.2.5. IDEMIA
11.2.5.1. COMPANY OVERVIEW
11.2.5.2. PRODUCTS LIST
11.2.6. INTELLICHECK INC
11.2.6.1. COMPANY OVERVIEW
11.2.6.2. PRODUCTS LIST
11.2.6.3. STRENGTHS & CHALLENGES
11.2.7. JUMIO CORPORATION
11.2.7.1. COMPANY OVERVIEW
11.2.7.2. PRODUCTS LIST
11.2.7.3. STRENGTHS & CHALLENGES
11.2.8. MASTERCARD INC
11.2.8.1. COMPANY OVERVIEW
11.2.8.2. PRODUCTS LIST
11.2.8.3. STRENGTHS & CHALLENGES
11.2.9. MITEK SYSTEMS INC
11.2.9.1. COMPANY OVERVIEW
11.2.9.2. PRODUCTS LIST
11.2.9.3. STRENGTHS & CHALLENGES
11.2.10. NUANCE COMMUNICATIONS INC
11.2.10.1. COMPANY OVERVIEW
11.2.10.2. PRODUCTS LIST
11.2.10.3. STRENGTHS & CHALLENGES
11.2.11. ONFIDO LIMITED
11.2.11.1. COMPANY OVERVIEW
11.2.11.2. PRODUCTS LIST
11.2.11.3. STRENGTHS & CHALLENGES
11.2.12. THALES GROUP SA
11.2.12.1. COMPANY OVERVIEW
11.2.12.2. PRODUCTS LIST
11.2.12.3. STRENGTHS & CHALLENGES
11.2.13. TRANSUNION LLC
11.2.13.1. COMPANY OVERVIEW
11.2.13.2. PRODUCTS LIST
11.2.13.3. STRENGTHS & CHALLENGES
11.2.14. TRULIOO INFORMATION SERVICES INC
11.2.14.1. COMPANY OVERVIEW
11.2.14.2. PRODUCTS LIST
11.2.14.3. STRENGTHS & CHALLENGES
11.2.15. TRUNARRATIVE
11.2.15.1. COMPANY OVERVIEW
11.2.15.2. PRODUCTS LIST
11.2.15.3. STRENGTHS & CHALLENGES