Market Overview:
The global e-KYC market reached a value of US$ XX Million in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
e-KYC is the process of electronically verifying the credentials of customers, which is mandatory to use the services of any financial institution. It comprises highly secured consent by the customers via a biometric fingerprint, an electronic key, and a written or electronic license. It is a safe and secure method of sharing confidential information while providing instant verification to prevent fraud. It is cost-effective and eco-friendly as e-KYC is a paperless system for collecting customer data compared to the traditional KYC system. In addition, it takes less time as registration and authentication are completed online without submitting the documentation physically. As a result, it is widely used in financial institutions, e-payment services, and telecom and insurance companies.
e-KYC Market Trends:
The growing incidents of identity-related frauds for committing various crimes, such as corruption, human trafficking, migrant smuggling, and terrorism, represent one of the key factors driving the market. Besides this, governments of several countries are implementing stringent regulations to prevent financial crimes and money laundering, which is contributing to the growth of the market. Moreover, the growing utilization of digital payment methods, such as banking cards, unified payments interface (UPI), mobile wallets, pre-paid cards, point of sale (POS), and internet banking, is positively influencing the market. In addition, technological advancements, such as linked devices, cloud computing, and artificial intelligence (AI), are offering lucrative growth opportunities to industry investors. Apart from this, there is a rise in data theft and cyberattacks, especially in large organizations, to steal and copy crucial data. This, along with the escalating demand for compliance management in various industries, is propelling the growth of the market. Additionally, e-KYC simplifies online transactions and aids in the management of various digital accounts, which is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global e-KYC market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, deployment mode and end user.
Breakup by Product:
- Identity Authentication and Matching
- Video Verification
- Digital ID Schemes
- Enhanced vs Simplified Due Diligence
Breakup by Deployment Mode:
Breakup by End User:
- Banks
- Financial Institutions
- E-payment Service Providers
- Telecom Companies
- Government Entities
- Insurance Companies
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 63 Moons Technologies Limited, Acuant Inc., Financial Software & Systems Pvt. Ltd., GB Group plc, GIEOM Business Solutions Pvt. Ltd., Jumio, Onfido, Panamax Inc., Tata Consultancy Services Limited, Trulioo, Trust Stamp and Wipro Limited.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Million |
| Segment Coverage |
Product, Deployment Mode, End User, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
63 Moons Technologies Limited, Acuant Inc., Financial Software & Systems Pvt. Ltd., GB Group plc, GIEOM Business Solutions Pvt. Ltd., Jumio, Onfido, Panamax Inc., Tata Consultancy Services Limited, Trulioo, Trust Stamp and Wipro Limited. |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global e-KYC market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global e-KYC market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global e-KYC market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global e-KYC Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Identity Authentication and Matching
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Video Verification
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Digital ID Schemes
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Enhanced vs Simplified Due Diligence
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Deployment Mode
7.1 Cloud-based
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 On-premises
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End User
8.1 Banks
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Financial Institutions
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 E-payment Service Providers
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Telecom Companies
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Government Entities
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Insurance Companies
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 63 Moons Technologies Limited
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Acuant Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Financial Software & Systems Pvt. Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 GB Group plc
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 GIEOM Business Solutions Pvt. Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Jumio
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Onfido
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Panamax Inc.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Tata Consultancy Services Limited
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Trulioo
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Trust Stamp
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Wipro Limited
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: e-KYC Market: Major Drivers and Challenges
Figure 2: Global: e-KYC Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: e-KYC Market: Breakup by Product (in %), 2021
Figure 5: Global: e-KYC Market: Breakup by Deployment Mode (in %), 2021
Figure 6: Global: e-KYC Market: Breakup by End User (in %), 2021
Figure 7: Global: e-KYC Market: Breakup by Region (in %), 2021
Figure 8: Global: e-KYC (Identity Authentication and Matching) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: e-KYC (Identity Authentication and Matching) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: e-KYC (Video Verification) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: e-KYC (Video Verification) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: e-KYC (Digital ID Schemes) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: e-KYC (Digital ID Schemes) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: e-KYC (Enhanced vs Simplified Due Diligence) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: e-KYC (Enhanced vs Simplified Due Diligence) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: e-KYC (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: e-KYC (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: e-KYC (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: e-KYC (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: e-KYC (Banks) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: e-KYC (Banks) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: e-KYC (Financial Institutions) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: e-KYC (Financial Institutions) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: e-KYC (E-payment Service Providers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: e-KYC (E-payment Service Providers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: e-KYC (Telecom Companies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: e-KYC (Telecom Companies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: e-KYC (Government Entities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: e-KYC (Government Entities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: e-KYC (Insurance Companies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: e-KYC (Insurance Companies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: North America: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: North America: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: United States: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: United States: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Canada: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Canada: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Asia-Pacific: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Asia-Pacific: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: China: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: China: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Japan: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Japan: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: India: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: India: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: South Korea: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: South Korea: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Australia: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Australia: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Indonesia: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Indonesia: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Others: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Others: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Europe: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Europe: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Germany: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Germany: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: France: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: France: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: United Kingdom: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: United Kingdom: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Italy: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Italy: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Spain: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Spain: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Russia: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Russia: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Latin America: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Latin America: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Brazil: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Brazil: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Mexico: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Mexico: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Others: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Others: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Middle East and Africa: e-KYC Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Middle East and Africa: e-KYC Market: Breakup by Country (in %), 2021
Figure 80: Middle East and Africa: e-KYC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Global: e-KYC Industry: SWOT Analysis
Figure 82: Global: e-KYC Industry: Value Chain Analysis
Figure 83: Global: e-KYC Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: e-KYC Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: e-KYC Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: e-KYC Market Forecast: Breakup by Deployment Mode (in Million US$), 2022-2027
Table 4: Global: e-KYC Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 5: Global: e-KYC Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: e-KYC Market: Competitive Structure
Table 7: Global: e-KYC Market: Key Players