The Global e-KYC Market is estimated to grow from USD 291.14 Million in 2019 to reach USD 1,568.95 Million by 2027, at a CAGR of 23.4% during the forecast period from 2020-2027.
2. e-kyc Market Size 2020-
2027
Market Size
2019
USD
291.14
Million
Market Size
2027
USD
1,568.95
Million
CAGR
23.4%
Leading
Region
North America
North
America
Latin
America
Middle East
and Africa
Asia
Pacific
Europe
3. Factor like a secure system, paperless
systems and work, free of cost process
and regulator friendly are expected to
drive the growth in the market for e-KYC
in the mobile phones. In addition to this,
increasing number of identity-related
frauds and rising importance of
compliance management are boosting
the growth further.
North America is technologically very
advanced, has a very high number of
early adopters and many market leaders
have their presence in this region. Also,
other factors like government initiatives,
development of digital identity-based
driver’s license, integration of blockchain,
ML and AI in order to secure the digital
identities are responsible for the
maximum share of this region in e-KYC
market.
Market
Overview
:
4. • Time and cost reduction
• Minimizes the Identity
Fraud Risk
• Transparency of Usage
and Transactions
Market Drivers
• Ease in conducting
transactions & account
opening
• Reduction in
compliance cost, thus
making it easier to serve
to low-income
customers
Market
Opportunities
• Security Issues
• Lack of awareness
amongst professionals
and consumers
Market
Restraint
Market Drivers, Restraint,
Opportunities:
5. By Region
By
Application
Market
Segmenta
tion
All the segments are
evaluated by taking into
consideration the historic and
future trends. All the
segments with the
dominating & fastest growing
sub-segments and the factors
responsible for the same are
studied and are mentioned in
the report.
6. e-kyc Market Segmentation
Analysis
By Application(Financial Institutions,Banks,Telecom
Companies,E-payment Service,Providers,Insurance
Companies,Government Entities)
01
By regional North America, Europe, Asia
Pacific, Latin America Middle East and Africa
02
7. Key Player
Analysis
Company Share & Revenue, Strategy,
Product Portfolio
Competitive landscape and
dynamics:
Market share, product portfolio,
product launches, etc.
Market environment
analysis:
Growth drivers and constraints,
Porter’s five forces analysis, SWOT
analysis
Market
structure:
Overview, industry life cycle analysis,
supply chain analysis
Key Features of the Report