GCC Identity Verification Market - Industry Trends and Forecast to 2029
- Published Date: 2022-12-22
- Report ID: 142952
- Pages: 225
-
Format:
Short Description
GCC Identity Verification Market, By Component (Solution and Services), Type (Non-Biometrics and Biometrics), Deployment Mode (On-Premise and Cloud), Organization Size (Large Enterprises and SMEs), Vertical (BFSI, Government & Defense, Energy & Utilities, Retail & E-commerce, IT & Telecom, Healthcare, Gaming, and Others), Country (U.A.E., Kingdom of Saudi Arabia (KSA), Qatar, Kuwait, Oman, Bahrain) Industry Trends and Forecast to 2029
Market Definition
Identity verification refers to the services and solutions used to verify the authenticity of a person's physical identity or documents such as a driver's license, passport, or nationally-issued identity document. There are various methods for identity verification and authentication services. The identity verification process can be carried out in many different ways depending on the channel and the verification. Identity verification services are used in many industries to provide complete security, avoid fraud and anti-money laundering concerns, improve customer experience, avoid costly fines, and other benefits.
Market Segmentation
The GCC identity verification market is segmented into five notable segments based on component, type, deployment mode, organization size, and vertical.
On the basis of component, the GCC identity verification market has been segmented into solution and services
On the basis of type, the GCC identity verification market has been segmented into biometrics and non-biometrics
On the basis of organization size, the GCC identity verification market has been segmented into large enterprises and SMEs
On the basis of deployment mode, the GCC identity verification market has been segmented into cloud and on-premise
On the basis of vertical, the GCC identity verification market has been segmented into BFSI, government & defense, energy & utilities, retail & e-commerce, IT & telecom, healthcare, gaming, and others
Market Players
Some of the major players operating in the GCC identity verification market are:
Experian Information Solutions, Inc. (A Subsidiary of Experian plc )
LexisNexis Risk Solutions Group.
Onfido
GB Group plc ('GBG')
Acuant, Inc.
IDEMIA
Thales Group
Shufti Pro
Uqudo
Western Union Holdings, Inc.
Plaid Inc.
IDMERIT.
AccuraTechnolabs
Ping Identity
IDnow.
AML UAE.
Stripe
Elm Company
Refinitiv
Trulioo.
QlikTech International AB
TABLE OF CONTENTS
1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 MARKET DEFINITION 18
1.3 OVERVIEW OF GCC IDENTITY VERIFICATION MARKET 18
1.4 CURRENCY AND PRICING 20
1.5 LIMITATIONS 20
1.6 MARKETS COVERED 20
2 MARKET SEGMENTATION 23
2.1 MARKETS COVERED 23
2.2 GEOGRAPHICAL SCOPE 24
2.3 YEARS CONSIDERED FOR THE STUDY 24
2.4 DBMR TRIPOD DATA VALIDATION MODEL 25
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 28
2.6 DBMR MARKET POSITION GRID 29
2.7 VENDOR SHARE ANALYSIS 30
2.8 MULTIVARIATE MODELING 31
2.9 COMPONENT TIMELINE CURVE 31
2.10 SECONDARY SOURCES 32
2.11 ASSUMPTIONS 32
3 EXECUTIVE SUMMARY 33
4 PREMIUM INSIGHTS 35
4.1 TECHNOLOGICAL ADVANCEMENT BY MANUFACTURERS 36
4.1.1 AI 36
4.1.2 INTERNET OF THINGS (IOT) 37
4.1.3 5G & LTE 37
4.1.4 NFC TECHNOLOGY 37
4.1.5 SMART BIOMETRIC TECHNOLOGIES 37
4.2 SUPPLY CHAIN ANALYSIS 38
4.2.1 RAW MATERIAL PROCUREMENT 38
4.2.2 MANUFACTURING 38
4.2.3 MARKETING AND DISTRIBUTION 39
4.2.4 END USERS 39
4.3 USE CASE 39
4.3.1 FINANCIAL SERVICES 39
4.3.2 E-COMMERCE AND RETAIL 39
4.3.3 HEALTHCARE 40
4.3.4 GOVERNMENT 40
4.3.5 EDUCATION 40
4.4 REGULATION COVERAGE 40
4.5 KEY FEATURES OFFERED BY IDENTITY VERIFICATION SOLUTIONS 42
4.5.1 DIGITAL ONBOARDING 42
4.5.2 E KYC 42
4.5.3 REGTECH SOLUTIONS 43
4.6 PORTER'S MODEL 44
5 MARKET OVERVIEW 45
5.1 DRIVERS 47
5.1.1 INCREASING DEMAND FOR NEAR-FIELD COMMUNICATION (NFC) TECHNOLOGIES 47
5.1.2 HIGH DEPENDENCY ON CLOUD IDENTITY AND ACCESS MANAGEMENT SOLUTIONS 48
5.1.3 GROWING ADOPTION OF IDENTITY VERIFICATION SOLUTIONS 48
5.1.4 RAPID GROWTH IN DIGITALIZATION ACROSS BUSINESS 49
5.2 RESTRAINTS 50
5.2.1 SURGE IN FRAUDULENT ACTIVITIES 50
5.2.2 LACK OF AWARENESS REGARDING IDENTITY VERIFICATION SOLUTIONS 50
5.2.3 HIGH INITIAL COST 51
5.3 OPPORTUNITIES 51
5.3.1 HIGH ADOPTION OF RAZOR-SHARP BIOMETRICS IDENTITY VERIFICATION SOLUTIONS 51
5.3.2 INCREASING DEMAND FOR IDENTITY VERIFICATION SERVICES IN SMARTPHONES 52
5.3.3 WIDE RANGE ADOPTION OF IDENTITY VERIFICATION SOLUTIONS ACROSS BFSI 53
5.4 CHALLENGES 54
5.4.1 LACK OF SKILLED PROFESSIONALS WHILE OFFERING SERVICE FOR IDENTITY VERIFICATION SOLUTIONS 54
5.4.2 STORAGE CHALLENGE FOR HUGE VARIANTS OF DATA/INFORMATION 55
6 GCC IDENTITY VERIFICATION MARKET, BY COMPONENT 56
6.1 OVERVIEW 57
6.2 SOLUTIONS 58
6.2.1 DOCUMENT/ID VERIFICATION 58
6.2.2 DIGITAL/ELECTRONIC IDENTITY VERIFICATION 58
6.2.3 AUTHENTICATION 58
6.3 SERVICES 58
6.3.1 MANAGED SERVICES 59
6.3.2 PROFESSIONAL SERVICES 59
6.3.2.1 IMPLEMENTATION 59
6.3.2.2 TRAINING AND SUPPORT 59
6.3.2.3 CONSULTING 59
6.3.3 INTEGRATION SERVICES 60
7 GCC IDENTITY VERIFICATION MARKET, BY DEPLOYMENT MODE 61
7.1 OVERVIEW 62
7.2 ON-PREMISE 63
7.3 CLOUD 63
8 GCC IDENTITY VERIFICATION MARKET, BY TYPE 64
8.1 OVERVIEW 65
8.2 BIOMETRICS 66
8.3 NON-BIOMETRICS 66
9 GCC IDENTITY VERIFICATION MARKET, BY ORGANIZATION SIZE 67
9.1 OVERVIEW 68
9.2 LARGE ENTERPRISES 69
9.3 SMES 69
10 GCC IDENTITY VERIFICATION MARKET, BY VERTICAL 70
10.1 OVERVIEW 71
10.2 GOVERNMENT AND DEFENSE 72
10.2.1 SOFTWARE 72
10.2.2 SERVICES 72
10.3 BFSI 72
10.3.1 SOFTWARE 73
10.3.2 SERVICES 73
10.4 RETAIL AND ECOMMERCE 73
10.4.1 SOFTWARE 73
10.4.2 SERVICES 73
10.5 HEALTHCARE 73
10.5.1 SOFTWARE 74
10.5.2 SERVICES 74
10.6 IT AND TELECOM 74
10.6.1 SOFTWARE 74
10.6.2 SERVICES 74
10.7 ENERGY AND UTILITIES 75
10.7.1 SOFTWARE 75
10.7.2 SERVICES 75
10.8 GAMING 75
10.8.1 SOFTWARE 75
10.8.2 SERVICES 75
10.9 OTHERS 76
10.9.1 SOFTWARE 76
10.9.2 SERVICES 76
11 GCC IDENTITY VERIFICATION MARKET, BY COUNTRY 77
11.1 UAE 82
11.2 KINGDOM OF SAUDI ARABIA 86
11.3 QATAR 91
11.4 KUWAIT 95
11.5 OMAN 100
11.6 BAHRAIN 104
12 GCC IDENTITY VERIFICATION MARKET, COMPANY LANDSCAPE 109
12.1 COMPANY SHARE ANALYSIS: GCC 109
12.2 COMPANY SHARE ANALYSIS: UAE 110
12.3 COMPANY SHARE ANALYSIS: KSA 111
13 SWOT ANALYSIS 112
14 COMPANY PROFILE 113
14.1 ELM COMPANY 113
14.1.1 COMPANY SNAPSHOT 113
14.1.2 REVENUE ANALYSIS 113
14.1.3 PRODUCT PORTFOLIO 114
14.1.4 RECENT DEVELOPMENT 114
14.2 REFINITIV 115
14.2.1 COMPANY SNAPSHOT 115
14.2.2 PRODUCT PORTFOLIO 115
14.2.3 RECENT DEVELOPMENT 115
14.3 THALES GROUP 116
14.3.1 COMPANY SNAPSHOT 116
14.3.2 REVENUE ANALYSIS 116
14.3.3 SOLUTION PORTFOLIO 117
14.3.4 RECENT DEVELOPMENTS 117
14.4 LEXISNEXIS RISK SOLUTIONS GROUP. 118
14.4.1 COMPANY SNAPSHOT 118
14.4.2 PRODUCT PORTFOLIO 118
14.4.3 RECENT DEVELOPMENTS 118
14.5 STRIPE 120
14.5.1 COMPANY SNAPSHOT 120
14.5.2 PRODUCT PORTFOLIO 120
14.5.3 RECENT DEVELOPMENT 120
14.6 GB GROUP PLC 121
14.6.1 COMPANY SNAPSHOT 121
14.6.2 REVENUE ANALYSIS 121
14.6.3 SOLUTION PORTFOLIO 122
14.6.4 RECENT DEVELOPMENTS 122
14.7 AML UAE. 123
14.7.1 COMPANY SNAPSHOT 123
14.7.2 SERVICES PORTFOLIO 123
14.7.3 RECENT DEVELOPMENT 123
14.8 ACCURATECHNOLABS 124
14.8.1 COMPANY SNAPSHOT 124
14.8.2 PRODUCT PORTFOLIO 124
14.8.3 RECENT DEVELOPMENTS 124
14.9 ACUANT, INC. 125
14.9.1 COMPANY SNAPSHOT 125
14.9.2 SOLUTION PORTFOLIO 125
14.9.3 RECENT DEVELOPMENT 125
14.10 EXPERIAN INFORMATION SOLUTIONS, INC. (A SUBSIDIARY OF EXPERIAN PLC) 126
14.10.1 COMPANY SNAPSHOT 126
14.10.2 REVENUE ANALYSIS 126
14.10.3 SOLUTION PORTFOLIO 127
14.10.4 RECENT DEVELOPMENTS 127
14.11 IDNOW. 129
14.11.1 COMPANY SNAPSHOT 129
14.11.2 PRODUCT PORTFOLIO 129
14.11.3 RECENT DEVELOPMENTS 129
14.12 IDMERIT. 131
14.12.1 COMPANY SNAPSHOT 131
14.12.2 PRODUCT PORTFOLIO 131
14.12.3 RECENT DEVELOPMENTS 131
14.13 IDEMIA 132
14.13.1 COMPANY SNAPSHOT 132
14.13.2 SOLUTION PORTFOLIO 132
14.13.3 RECENT DEVELOPMENTS 132
14.14 JUMIO 134
14.14.1 COMPANY SNAPSHOT 134
14.14.2 SOLUTION PORTFOLIO 134
14.14.3 RECENT DEVELOPMENTS 134
14.15 NUANCE COMMUNICATIONS, INC. 136
14.15.1 COMPANY SNAPSHOT 136
14.15.2 REVENUE ANALYSIS 136
14.15.3 PRODUCT PORTFOLIO 137
14.15.4 RECENT DEVELOPMENTS 137
14.16 ONESPAN. 138
14.16.1 COMPANY SNAPSHOT 138
14.16.2 REVENUE ANALYSIS 138
14.16.3 PRODUCT PORTFOLIO 139
14.16.4 RECENT DEVELOPMENTS 139
14.17 ONFIDO 140
14.17.1 COMPANY SNAPSHOT 140
14.17.2 PRODUCT PORTFOLIO 140
14.17.3 RECENT DEVELOPMENTS 140
14.18 PLAID INC. 142
14.18.1 COMPANY SNAPSHOT 142
14.18.2 PRODUCT PORTFOLIO 142
14.18.3 RECENT DEVELOPMENT 142
14.19 PING IDENTITY. 143
14.19.1 COMPANY SNAPSHOT 143
14.19.2 REVENUE ANALYSIS 143
14.19.3 PRODUCT PORTFOLIO 144
14.19.4 RECENT DEVELOPMENTS 144
14.20 QLIKTECH INTERNATIONAL AB 146
14.20.1 COMPANY SNAPSHOT 146
14.20.2 PRODUCT PORTFOLIO 146
14.20.3 RECENT DEVELOPMENTS 146
14.21 SHUFTI PRO 147
14.21.1 COMPANY SNAPSHOT 147
14.21.2 PRODUCT PORTFOLIO 147
14.21.3 RECENT DEVELOPMENTS 147
14.22 TRULIOO. 149
14.22.1 COMPANY SNAPSHOT 149
14.22.2 SOLUTION PORTFOLIO 149
14.22.3 RECENT DEVELOPMENTS 149
14.23 UQUDO 150
14.23.1 COMPANY SNAPSHOT 150
14.23.2 PRODUCT PORTFOLIO 150
14.23.3 RECENT DEVELOPMENT 150
14.24 WESTERN HOLDING INC 151
14.24.1 COMPANY SNAPSHOT 151
14.24.2 REVENUE ANALYSIS 151
14.24.3 PRODUCT PORTFOLIO 152
14.24.4 RECENT DEVELOPMENT 152
15 QUESTIONNAIRE 153
16 RELATED REPORTS 156
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