News
Digital Identity Verification Spend to Exceed $20 Billion Globally by 2027, as Top Vendors Revealed in Competitor Leaderboard
August 2022 by Juniper Research
A new study from Juniper Research has found spend on digital identity verification checks will reach $20.8 billion globally in 2027; up from $11.6 billion in 2022. It predicts this growth will be driven by both the increasing prevalence of digital services requiring digital onboarding journeys, and the growing requirement for more advanced and robust identity verification systems in the face of rising fraud.
Digital identity verification is where identity is checked using digitally verifiable elements, such as selfie scans, address checks and knowledge-based authentication.
Microsoft, Thales & LexisNexis Risk Solutions Ahead in Competitor Leaderboard
The research assessed leading digital identity verification vendors; evaluating each company on criteria such as depth and breadth of offerings, service innovation and future market prospects. It ranked the top 3 vendors as follows:
1. Microsoft
2. Thales
3. LexisNexis Risk Solutions
