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Market Size & Analysis
Competitor
Type
URL
Description & Summary
Business Model
Features to Check/Include
Basic Annual Customer Value (BACV)
Average Annual Customer Value (AACV)
Margin Estimation
Strengths
Weaknesses
MOZN SOM Clients Estimation
Estimated Clients
SOM Product Revenue Annually
TAM Product Revenue Annually (Finance/Risk Vertical Only)
ComplyAdvantage
Global Player
Monthly SaaS per module per user
Mobile Optimisation
Payment Gateway Integration
Matching Process
External Sanction Lists API 10
Updated in real-time
AddOn: Monitoring/Alerts
Configuration for Paying Customers
Wiki: API Documentation
$7,800
$28,704
High (40-65%)
Global Network of Support/Sales people
Data Quality
Large Datasets 1000+
Credentials on the market
Transaction Monitoring
0000
26000000
1750$2,028,000
$50,232,000
Worldcheck
Global Player
Monthy SaaS per module per user
Extended Results Outcome
Full Screening process
Customer Analytics
Include Other Data Sources
Public Company Registries
Freemium & Payment Models
$11,040
$40,627
Low (1-21%)
Large Datasets 1000+
Global Network of Support/Sales people
Credentials on the market
Manual Entries
Prone to Data Errors
Expensive
Customer Satisfaction Low
Needs Analyst
0000
194000000
32800$21,417,600
$1,332,572,160
NICE Actimize
Global Player
Monthy SaaS per module per user
Custom Profile Enrichment
Ent to End Workflow
Automated Reporting to Authorities
$14,688
$54,052
Medium (22-39%)
Product Synergies
Only Partial Cloud
0000
194000000
7150$28,494,720
$386,470,656
Finscan
Regional Player
Monthly SaaS per module per user
Matchine Engine
Data Quality Engine
$13,464
$49,548
Medium (22-39%)
Data Quality
Credentials on the market
Not a broad all encompasing suite
0000
93000000
5800$12,521,520
$287,375,616
SAS
Regional Player
Implementation Fee & Ongoing Fee
Basic Workflow
$77,464
$156,683
Low (1-21%)
Outdatet concept
0000
9000000
5100$6,971,760
$799,085,544
AMLock (3i Infotech)
Regional Player
Implementation Fee & Ongoing Fee
External Sanction Lists API 10
Wiki: API Documentation
Organizations or Individuals Explore
Output show
$22,000
$80,960
Medium (22-39%)
Alerts Library (custom)
Configurable Risk Assessment
Outdatet concept
0000
43000000
1750$9,460,000
$141,680,000
Jumio
Same Vertical Player
Per User Payment Model
Freemium Model
Registration/Login Workflow
RPA: Lead Generation
$3,100
$16,976
High (40-65%)
Easy onboarding Process
Effective Sales & Automation
Global Network of Support/Sales people
0000
261000000
6450$8,091,000
$109,495,200
IdNow
Same Vertical Player
Per User Payment Model
$4,272
$19,870
Medium (22-39%)
0000
15000000
450$640,800
$8,941,500
Sum & Substance
Same Vertical Player
Per User Payment Model
$2,664
$4,160
High (40-65%)
New Player
0000
26000000
750$692,640
$3,120,000
ML Verify
Same Vertical Player
Freemium/Trial
$1,056
$6,810
0000
43000000
1100$454,080
$7,491,000
There are no rows in this table
10
Count
$15,755
Average
$45,839
Average
9040
Sum
63100
Sum
$90,772,120
Sum
$3,126,463,676
Sum
TAM (Total Addressable Market): $. We have mapped around 25 % of the market with around 40% product spill into different categories (not clearly separated clients vs product offering) with approximated 252400 substantial clients globally. That gives us an average of 29728$ annual revenue per client.
7503512822.4
SOM (Serviceable Obtainable Market): $ Sampled on the detailed view of client obtainable as 25% subset of competition and Basic Annual Customer Value (BACV), leading to 9040 such clients and average BACV of $15755 on the Market.
363088480
Outside research confirmation:
$12.8 Bn Identity Verification Market - Global Forecast to 2024
The identity verification market size is expected to grow from USD 6.0 billion in 2019 to USD 12.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period.
The rising number of identity-related frauds and data breaches are expected to drive the identity verification market
The factors expected to drive the identity verification market are the rising number of identity-related frauds and data breaches, stringent regulations, and need for compliance to drive the adoption of identity verification solutions, enterprise mobility, and Bring Your Own Device (BYOD) trends. However, aggregating critical enterprise data distributed across multiple locations within a business is still a point of concern for organizations.
The services segment is expected to grow at a higher CAGR during the forecast period
The identity verification market by service includes consulting, training and education, and support and maintenance services. These services help clients understand their identity verification solutions and related processes. The solutions segment is expected to hold a larger market size during the forecast period. The identity verification solutions are being deployed by a large number of Small and Medium-sized Enterprises (SMEs) due to an increasing need to secure the business-sensitive applications from unauthorized accesses.
Increasing deployment of cloud-based identity verification solutions in SMEs is expected to drive the growth of the SMEs segment during the forecast period
The SMEs segment is expected to grow at a higher CAGR, owing to the rising deployment of the cloud-based identity verification solutions by them to secure their web applications, mobile applications, mobile devices, infrastructure, and Application Programming Interfaces (APIs) from unauthorized access, vulnerabilities, and attacks. SMEs are small in terms of their size but cater to a large number of customers globally. Weak cybersecurity and low budget make the SMEs more susceptible to data breaches and identity thefts as most of the organizations lack proper security protocols to their organizations' applications, platforms, and infrastructure.
However, the rising level of cyber-attacks, and the increasing need to protect their infrastructure and confidential data from unauthorized access, and identity impersonification will drive the demand for identity verification solutions among SMEs. These solutions not only enhance the security portfolio of SMEs but also enable them to comply with regulations by ensuring customer data protection as well as organization data protection from identity theft.
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
APAC includes major economies, such as India, China, Australia, Hong Kong, and Japan, which are rapidly deploying the identity verification solution. APAC is expected to grow at the highest CAGR during the forecast period. The APAC identity verification market is gaining traction, as this region is showing the highest growth of the Internet of Things (IoT), BYOD, and web applications adoption for their business functions and this, in turn, increases the need to secure these solutions against cyber threats, identity-based threats, and attacks. SMEs as well as large organizations in the APAC region have become more aware of identity verification services and have started adopting them to combat identity-based threats and data thefts to their infrastructures, endpoints, and cloud-based applications.
Furthermore, North America is expected to have the largest market size in 2019 owing to the presence of a large number of vendors and initial adoption of identity verification solutions owing to the rising sophistication level of cyber-attacks and heavy financial losses in the advent of any identity attack.
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