Identity Verification Market Set to Grow at 13.2% CAGR, Expected to Reach US$ 38.5 Billion by 2033

The global identity verification market is predicted to expand at a CAGR of 13.2% over the course of the forecast period, according to FMI. Market value for the sector is anticipated to increase from $11.1 billion in 2023 to $38.5 billion by the end of 2033.

Because of its distinguishing characteristics, the inclusion of biometrics in digital identification provides enhanced attribution to a person. As a result, because the means of acquisition are strictly regulated, it is less vulnerable to imitation.

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