According to the [190+ Pages] research report; the global E-KYC Market in 2019 was approximately USD 257.23 Million. The market is expected to grow at a CAGR of 22% and is anticipated to reach around USD 1,015.36 Million by 2026. Top market players are 63 Moons Technologies Ltd., Acuant, Au10tix, EverCompliant, Financial Software & Systems Pvt. Ltd., GB Group, GIEOM Business Solutions and others.

New York, NY, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “E-KYC Market By End User (Banks, Financial Institutions, E-payment Service Providers, Telecom Companies, Government Entities, and Insurance Companies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016–2026”.

“According to the research study, the global E-KYC Market was estimated at USD 257.23 Million in 2019 and is expected to reach USD 1,015.36 Million by 2026. The global E-KYC Market is expected to grow at a compound annual growth rate (CAGR) of 22% from 2019 to 2027”.

E-KYC is the way of authentication used by the organization like banks, offices, and other organizations. KYC is known as know your customer. It is also known as know your client or simply KYC. KYC is the process of a business confirming the identity of its customers and assessing their suitability.

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Our Free Sample Report Includes:

• 2020 Updated Report Introduction, Overview, and In-depth industry analysis

• COVID-19 Pandemic Outbreak Impact Analysis Included

• 190+ Pages Research Report (Inclusion of Updated Research)

• Provide Chapter-wise guidance on Request

• 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends

• Includes Updated List of table & figures

• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis

• Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Key Questions Answered in this Report

1) What was the impact of COVID-19 on the E-KYC Market?

2) What is the market size, share of the E-KYC Market?

3) Who are the top market players in E-KYC Market?

4) What will be the future market of the E-KYC Market?

Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026

• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities

• Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography

• Competitive Landscape – Top key vendors and other prominent vendors

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Factors such as terrorist financing activities and huge monetary losses in the Banking, Financial Services, and Insurance (BFSI) sector are anticipated to drive the target market growth over the forecast period. In addition, the increasing importance of compliance management and the rising number of identity-related frauds are expected to propel the target market growth. For instance, according to data published by the Center by Victim Research in January 2019, National Crime Victimization Survey (NCVS) data showed that 10% of the US population experienced identity fraud in 2016. Furthermore, the growing incidence of cyber-attacks on small and mid-size enterprises (SMEs) has helped the target market to grow. Moreover, increasing cloud adoption, growing internal and external threats, and the Internet of Things (IoT), are some of the factors that are expected to boost the target market growth as well.

Top Market Players

Some of the key players operating in the target market include:

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

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On the basis of end-user, the e-KYC market is segmented as banks, financial institutions, e-payment service providers, telecom companies, government entities, and insurance companies. Among which bank segment is expected to account for the major revenue share in the e-KYC market over the forecast period. Financial Institutions, E-payment Service Providers segments are followed by the bank segment in terms of revenue share.

The study provides a decisive view of the e-KYC market size by segmenting the e-KYC market based on end-user and regions. All the segments have been analyzed on the basis of present and future trends. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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The purchasing pattern of the consumers worldwide is based on the evolving fashion trends and changing hairstyles. The market share is largely influenced by the product sales greatly impacted by religious beliefs and ethnic populations. Apparently, easy access to clips, ornamented pins, and bands on the e-commerce web portal will further accelerate the industry surge over the forecast timespan.

The e-KYC market is segmented based on End-user. End-user type, the market is classified into Banks, Financial Institutions, E-payment Service Providers, Telecom Companies, Government Entities, and Insurance Companies. In terms of application, the market segment is sectored into Women and Men.

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E-KYC Market: Regional Analysis

On the basis of region, the e-KYC market is segmented into, Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. Among all the regions, the North America region is anticipated to dominate the target market over the forecast period followed by APAC and Europe in terms of revenue. The US is the dominant one in North America owing to US the recent identity frauds that have been experienced by the population in recent years. Factors such as growing internal and external threats, increasing cloud adoption, and the Internet of Things (IoT) have been augmenting the target market growth in APAC.

Browse the full “E-KYC Market By End User (Banks, Financial Institutions, E-payment Service Providers, Telecom Companies, Government Entities, and Insurance Companies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016–2026" report at https://www.fnfresearch.com/e-kyc-market-by-end-user-banks-financial

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

Key Insights from Primary Research

• As per our primary respondents, the e-KYC market is set to grow annually at the rate of around 22%

• It was established through primary research that the e-KYC market was valued at around USD 212 Million in 2018

• In terms of end-user segmentation, the bank was the leading revenue-generating category accounting for around 32% share, in 2018

• On the basis of end-user segmentation, the bank category held the leading revenue of around USD 67 Million in 2018

• APAC region registered a noticeable growth rate of approximately 22% in 2018.

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