Saudi Arabia e-KYC Market Size, Share and Forecast 2033

Saudi Arabia e-KYC Market Size, Share, Trends and Forecast by Product, Deployment Mode, End User, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A33638

Saudi Arabia e-KYC Market Overview:

The Saudi Arabia e-KYC market size reached USD 7.48 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 32.52 Million by 2033, exhibiting a growth rate (CAGR) of 17.74% during 2025-2033. Increasing digitalization, government initiatives supporting financial inclusion, rising demand for secure and efficient customer onboarding processes, growth in online banking and fintech sectors, and regulatory requirements for identity verification and anti-money laundering compliance are some of the factors contributing to Saudi Arabia e-KYC market share.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 7.48 Million
Market Forecast in 2033	USD 32.52 Million
Market Growth Rate 2025-2033	17.74%

Saudi Arabia e-KYC Market Trends:

Expansion of Digital Identity Solutions

Saudi Arabia is experiencing a significant shift towards digital identity solutions, driven by efforts to modernize its infrastructure and services. As the country increasingly embraces digital technologies, the need for secure and efficient electronic know your customer (e-KYC) systems is growing. The adoption of e-KYC is becoming essential for businesses, financial institutions, and government services, enabling them to streamline operations, improve user experiences, and ensure compliance with international standards. This movement is aligned with the broader goals of Saudi Arabia's national development plans, which emphasize digital transformation as a key strategy for economic and social progress. With an expanding internet user base, there is a greater` push for digital tools that can securely verify identities and facilitate seamless interactions. As regulatory frameworks evolve to support digital identity solutions, Saudi Arabia is positioning itself as a leader in the region’s digital transformation efforts, enhancing efficiency and accessibility. These factors are intensifying the Saudi Arabia e-KYC market growth. In the Gulf Cooperation Council (GCC) countries, initiatives like Saudi Arabia’s Vision 2030 encourage digital identity adoption. According to reports, there were 36.31 million internet users in Saudi Arabia in January 2023.

Saudi Arabia e-KYC Market Size

Enhancing Digital Identity for Secure Transactions

Saudi Arabia's digital identity landscape is evolving rapidly with the introduction of advanced e-KYC solutions, driven by AI-powered technologies. The market is witnessing a shift toward more secure and efficient user verification processes, utilizing tools like facial recognition, document analysis, and liveness detection. These solutions are transforming digital transactions, especially in the financial sector, by providing reliable remote verification for users. The focus on enhancing the buy now pay later (BNPL) services is particularly prominent, enabling safer, seamless interactions in the region. This growth supports the wider adoption of secure online transactions, playing a critical role in the development of Saudi Arabia's digital economy and the wider MENA region. For instance, in March 2024, Uqudo enhanced digital identity solutions in the region with advanced e-KYC technology, including AI-driven verification for national IDs and passports. Its collaboration with Tamara aims to improve digital transactions in the GCC’s BNPL sector. Uqudo’s platform supports facial recognition, document analysis, and liveness detection, making secure, remote user verification efficient across financial services. This initiative is key to strengthening secure online transactions in Saudi Arabia and MENA.

Saudi Arabia e-KYC Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on product, deployment mode, and end user.

Product Insights:

Identity Authentication and Matching
Video Verification
Digital ID Schemes
Enhanced vs Simplified Due Diligence

The report has provided a detailed breakup and analysis of the market based on the product. This includes Identity authentication and matching, video verification, digital ID schemes, and enhanced vs simplified due diligence.

Deployment Mode Insights:

Cloud-based
On-premises

A detailed breakup and analysis of the market based on the deployment mode have also been provided in the report. This includes cloud-based and on-premises.

End User Insights:

Banks
Financial Institutions
E-payment Service Providers
Telecom Companies
Government Entities
Insurance Companies

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes banks, financial institutions, e-payment service providers, telecom companies, government entities, and insurance companies.

Regional Insights:

Northern and Central Region
Western Region
Eastern Region
Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Saudi Arabia e-KYC Market News:

In November 2024, Brankas launched an integrated APAC Open Banking compliance solution, partnering with ADVANCE.AI’s e-KYC technology to streamline financial services and enhance digital onboarding. This solution simplifies regulatory adherence across multiple APAC markets, including those with emerging open banking regulations. In Saudi Arabia, with its growing focus on digital transformation in financial services, this integration could significantly support local institutions in meeting compliance requirements, ensuring secure and efficient customer identification.

Saudi Arabia e-KYC Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Product Deployment Mode End User Region
Products Covered	Identity Authentication and Matching, Video Verification, Digital ID Schemes, Enhanced vs Simplified Due Diligence
Deployment Modes Covered	Cloud-based, On-Premises
End Users Covered	Banks, Financial Institutions, E-Payment Service Providers, Telecom Companies, Government Entities, Insurance Companies
Regions Covered	Northern and Central Region, Western Region, Eastern Region, and Southern Region
Customization Scope	10% Free Customization
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 Saudi Arabia e-KYC market performed so far and how will it perform in the coming years?
What is the breakup of the Saudi Arabia e-KYC market on the basis of product?
What is the breakup of the Saudi Arabia e-KYC market on the basis of deployment mode?
What is the breakup of the Saudi Arabia e-KYC market on the basis of end user?
What is the breakup of the Saudi Arabia e-KYC market on the basis of region?
What are the various stages in the value chain of the Saudi Arabia e-KYC market?
What are the key driving factors and challenges in the Saudi Arabia e-KYC market?
What is the structure of the Saudi Arabia e-KYC market and who are the key players?
What is the degree of competition in the Saudi Arabia e-KYC market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia e-KYC market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia e-KYC market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Saudi Arabia e-KYC industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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