e-KYC Market - Global Industry Analysis

The global e-KYC market, which accrued revenue worth 0.258 (USD Billion) in 2019 and anticipated to garner earnings about 1.016 (USD Billion) by 2026, is set to grow at a CAGR of nearly 22.05% during the period from 2020 to 2026. The report offers valuation and analysis of the e-KYC market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Introduction

e- KYC also referred as electronic – know your customer is used by the banks and various other financial institutions. It is a kind of digital id that assist financial institutions in improving risk management operations, safeguard end-user data against theft & cyber-attacks, and provide effective fraud management. Apart from this, KYC mandates the banks to check the identity of the person before opening an account.  Moreover, e-KYC helps the banks and other financial corporations to expand their consumer base at minimal expenses. Furthermore, e-KYC helps in eliminating manual processing of paper documentation and the requirement for in-person verifying of the identity of the account holder. Citing an instance, the use of Aadhar card id for KYC registration in India facilitated bulge in account opening from nearly 49 million in 2016-2017 to 139 million during 2017-2018.

Market Growth Dynamics

Low-assurance interactions contribute majorly towards Cybersecurity violations and it poses massive risks for digital economy and can leak the information of customers & banks. This has paved a way for e-KYC activities, thereby driving the market trends. Moreover, e-KYC facilitates online transactions in a safe & easy way and helps in effectively managing multitude of digital accounts. This activity is most prominently witnessed in developed countries. Nonetheless, failure technical systems and data breaches along with misuse of personal information can pose a threat to the growth of e-KYC industry in the foreseeable future.

Furthermore, need for strengthening compliance management due to surge in the proportion of frauds are anticipated to steer the business growth over the years ahead. With the onset of connected things, cloud computing, and AI, the market is projected to gain traction over the ensuing years. Growing necessity for reducing unauthorized use of credentials and reduce the breach of conduct is likely to pave a way for the growth of the e-KYC market over the forecast timespan.

North America To Account Sizably Towards Overall Market Earnings By 2026

The growth of the market in the sub-continent over the assessment period is credited to growing need for fraud detection in the countries such as Canada and the U.S. Reportedly, the U.S. witnessed an identity fraud in 2016 and this is likely to create new growth opportunities for e-KYC industry in the sub-continent. Apart from this, rise in the data thefts and cases of cyber-attacks in small & mid-sized firms is predicted to spur the expansion of e-KYC industry over the forecast timespan.

Key participants profiled in the study are Acuant, GIEOM Business Solutions, IDnow GmbH, Trust Stamp, Mitek, 63 Moons Technologies Ltd., Au10tix, Onfido, EverCompliant, Pegasystems Inc., Financial Software & Systems Pvt. Ltd., GB Group, Jumio, Panamax Inc., Tata Consultancy Services (TCS), Trulioo, and Wipro Technologies.

 This report segments the e-KYC market as follows:

Global e-KYC Market: By End User Segment Analysis

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

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

• Chapter 1. Preface
  • 1.1. Report Description and Scope
  • 1.2. Research Scope
  • 1.3. Research Methodology
    • 1.3.1. Market Research Process
    • 1.3.2. Market Research Methodology
• Chapter 2. Executive Summary
  • 2.1. E-KYC Market, 2016–2026 (USD Billion)
  • 2.2. E-KYC Market: Snapshot
• Chapter 3. Global E-KYC Market– Industry Analysis
  • 3.1. E-KYC Market: Market Dynamics
  • 3.2. Market Drivers
    • 3.2.1. Low-assurance interactions contribute majorly towards Cybersecurity viulations and it poses massive risks for digital economy and can leak the information of customers & banks. This has paved a way for e-KYC activities, thereby driving the market trends.
    • 3.2.2. With the onset of connected things, cloud computing, and AI, the market is projected to gain traction over the ensuing years.
  • 3.3. Porter’s Five Forces Analysis
  • 3.4. Market Attractiveness Analysis
    • 3.4.1. Market attractiveness analysis By End-User
• Chapter 4. Global E-KYC Market– Competitive Landscape
  • 4.1. Company market share analysis
    • 4.1.1. Global E-KYC Market: company market share, 2018
  • 4.2. Strategic development
    • 4.2.1. Acquisitions & mergers
    • 4.2.2. New Product launches
    • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
    • 4.2.4. Research and development and Regional expansion
  • 4.3. Price trend analysis
• Chapter 5. Global E-KYC Market– End-User Analysis
  • 5.1. Global E-KYC Market overview: By End-User
    • 5.1.1. Global E-KYC Market share, By End-User , 2019 and 2026
  • 5.2. Banks
    • 5.2.1. Global E-KYC Market By Banks, 2016–2026 (USD Billion)
  • 5.3. Financial Institutions
    • 5.3.1. Global E-KYC Market By Financial Institutions , 2016–2026 (USD Billion)
  • 5.4. E-payment Service Providers
    • 5.4.1. Global E-KYC Market By E-payment Service Providers, 2016–2026 (USD Billion)
  • 5.5. Telecom Companies
    • 5.5.1. Global E-KYC Market By Telecom Companies, 2016–2026 (USD Billion)
  • 5.6. Government Entities
    • 5.6.1. Global E-KYC Market By Government Entities, 2016–2026 (USD Billion)
  • 5.7. Insurance Companies
    • 5.7.1. Global E-KYC Market By Insurance Companies, 2016–2026 (USD Billion)
• Chapter 6. Company Profiles
  • 6.1. Acuant
    • 6.1.1. Overview
    • 6.1.2. Financials
    • 6.1.3. Service Portfolio
    • 6.1.4. Business Strategy
    • 6.1.5. Recent Developments
  • 6.2. GIEOM Business Sulutions
    • 6.2.1. Overview
    • 6.2.2. Financials
    • 6.2.3. Service Portfolio
    • 6.2.4. Business Strategy
    • 6.2.5. Recent Developments
  • 6.3. IDnow GmbH
    • 6.3.1. Overview
    • 6.3.2. Financials
    • 6.3.3. Service Portfolio
    • 6.3.4. Business Strategy
    • 6.3.5. Recent Developments
  • 6.4. Trust Stamp
    • 6.4.1. Overview
    • 6.4.2. Financials
    • 6.4.3. Service Portfolio
    • 6.4.4. Business Strategy
    • 6.4.5. Recent Developments
  • 6.5. Mitek
    • 6.5.1. Overview
    • 6.5.2. Financials
    • 6.5.3. Service Portfolio
    • 6.5.4. Business Strategy
    • 6.5.5. Recent Development
  • 6.6. 63 Moons Technulogies Ltd.
    • 6.6.1. Overview
    • 6.6.2. Financials
    • 6.6.3. Service Portfolio
    • 6.6.4. Business Strategy
    • 6.6.5. Recent Development
  • 6.7. Au10tix
    • 6.7.1. Overview
    • 6.7.2. Financials
    • 6.7.3. Service Portfolio
    • 6.7.4. Business Strategy
    • 6.7.5. Recent Development
  • 6.8. Onfido
    • 6.8.1. Overview
    • 6.8.2. Financials
    • 6.8.3. Service Portfolio
    • 6.8.4. Business Strategy
    • 6.8.5. Recent Development
  • 6.9. EverCompliant
    • 6.9.1. Overview
    • 6.9.2. Financials
    • 6.9.3. Service Portfolio
    • 6.9.4. Business Strategy
    • 6.9.5. Recent Development
  • 6.10. Pegasystems Inc.
    • 6.10.1. Overview
    • 6.10.2. Financials
    • 6.10.3. Service Portfolio
    • 6.10.4. Business Strategy
    • 6.10.5. Recent Development
  • 6.11. Financial Software & Systems Pvt. Ltd.
    • 6.11.1. Overview
    • 6.11.2. Financials
    • 6.11.3. Service Portfolio
    • 6.11.4. Business Strategy
    • 6.11.5. Recent Development
  • 6.12. GB Group
    • 6.12.1. Overview
    • 6.12.2. Financials
    • 6.12.3. Service Portfolio
    • 6.12.4. Business Strategy
    • 6.12.5. Recent Development
  • 6.13. Jumio
    • 6.13.1. Overview
    • 6.13.2. Financials
    • 6.13.3. Service Portfolio
    • 6.13.4. Business Strategy
    • 6.13.5. Recent Development
  • 6.14. Panamax Inc.
    • 6.14.1. Overview
    • 6.14.2. Financials
    • 6.14.3. Service Portfolio
    • 6.14.4. Business Strategy
    • 6.14.5. Recent Development
  • 6.15. Tata Consultancy Services (TCS)
    • 6.15.1. Overview
    • 6.15.2. Financials
    • 6.15.3. Service Portfolio
    • 6.15.4. Business Strategy
    • 6.15.5. Recent Development
  • 6.16. Trulioo
    • 6.16.1. Overview
    • 6.16.2. Financials
    • 6.16.3. Service Portfolio
    • 6.16.4. Business Strategy
    • 6.16.5. Recent Development
  • 6.17. Wipro Technulogies
    • 6.17.1. Overview
    • 6.17.2. Financials
    • 6.17.3. Service Portfolio
    • 6.17.4. Business Strategy
    • 6.17.5. Recent Development

List of Figures

1. Market research process
2. Market research methodology
3. Global E-KYC Market, 2016–2026 (USD Billion)
4. Porter’s Five Forces Analysis
5. Global E-KYC Market attractiveness, By End-User 
6. Global E-KYC Market Share By End-User ,2019 and 2026 (USD Billion)
7. Global E-KYC Market by  Banks,2016–2026 (USD Billion)
8. Global E-KYC Market, By Financial Institutions , 2016–2026 (USD Billion)
9. Global E-KYC Market by Telecom Companies,2016–2026 (USD Billion)
10. Global E-KYC Market, By Government Entities, 2016–2026 (USD Billion)
11. Global E-KYC Market, By Insurance Companies, 2016–2026 (USD Billion)
12. Global E-KYC Market share, by Region, 2019 and 2026
13. North America E-KYC Market, 2016–2026 (USD Billion)
14. Europe E-KYC Market, 2016–2026 (USD Billion)
15. Asia Pacific E-KYC Market, 2016–2026 (USD Billion)
16. Latin America E-KYC Market, 2016–2026 (USD Billion)
17. The Middle East and Africa E-KYC Market, 2016–2026 (USD Billion)
 

List of Tables

1. Global E-KYC Market: snapshot
2. Drivers of the E-KYC Market: impact analysis
3. North America E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
4. The U.S. E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
5. Rest of North America E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
6. Europe E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
7. UK E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
8. France E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
9. Germany E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
10. Rest of Europe E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
11. Asia Pacific E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
12. China E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
13. Japan E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
14. India E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
15. Rest of Asia Pacific E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
16. Latin America E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
17. Brazil E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
18. Rest of Latin America E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
19. The Middle East and Africa E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
20. The Middle East and Africa E-KYC Market revenue, By Vertical, 2016–
21. Saudi Arabia E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
22. South Africa E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)
23. Rest of the Middle East & Africa E-KYC Market revenue, By End-User , 2016–2026 (USD Billion)