Identity Verification Market to Reach USD 39.73 Billion by 2031

Westford, USA, Oct. 16, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Identity Verification Market will reach a value of USD 39.73 Billion by 2031, with a CAGR of 16.7% during the forecast period (2024-2031). The increasing identity-related fraud and cybercrime have given rise to initiatives in digitization. The increase in use cases of data security across sectors fuels the business of identity verification. Moreover, policies initiated by organizations and governments toward digitization and the implementation of advanced technologies such as automation, machine learning, and AI in identity verification systems would give them ample opportunity to introduce their identity verification solutions.