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Combined eIDV and digital identity opportunity to surpass $27B by 2024, Goode Intelligence forecasts

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Combined eIDV and digital identity opportunity to surpass $27B by 2024, Goode Intelligence forecasts

Electronic identity and document verification (eIDV) and digital identity are forecast by Goode Intelligence to be a $27.38 billion market opportunity by 2024.

The figure comes from a pair of previously released reports from the analyst and consultancy; “Digital Identity & Document Verification Market & Technology Analysis & Forecasts 2019-2024” and “The Digital Identity Report – The Global Opportunities for Verified Citizen & Consumer Digital ID: Market & Technology Analysis and Forecasts 2020-2025”, which predicts distributed digital identities to reach three billion in the next five years.

“The need to enhance customer experience coupled with the ability to onboard new customers to services through remote digital channels, web and mobile, is a pressing requirement for many organisations seeking to reduce their physical footprint and support digital transformation projects,” explains Goode Intelligence Founder and CEO Alan Goode. “Digital identity and document verification services aim to support digital onboarding and meet the latest Anti-Money Laundering (AML), Know Your Customer (KYC) and Customer Due Diligence (CDD) regulation. This is an exciting time with plenty of opportunity for the industry.”

Interviews with experts from Callsign, Daon, Entrust Datacard, Evernym, G+D, Gemalto, a Thales company, Idemia, ID4Africa, Intellicheck, iProov, Onfido, Signicat, and Veridos and several other organization are included in the combined 400-pages of the two reports.

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