๐๐ข๐๐๐จ ๐๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
Global Video KYC market to surpass USD 862.83 million by 2030 from USD 179.95 million in 2020 at a CAGR of 16.97% in the coming years, i.e., 2021-30.
๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ ๐๐จ๐ซ ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐๐๐ง๐ญ๐ข๐ญ๐ฒ ๐๐๐ซ๐ข๐๐ข๐๐๐ญ๐ข๐จ๐ง ๐ ๐ฎ๐๐ฅ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐: The market for video KYC is expanding significantly as companies in a variety of sectors look for effective and safe methods to confirm their clients' identities. Digital identity verification solutions, such as Video KYC, provide distant customer identification authentication in real-time, which helps businesses streamline the onboarding process and maintain regulatory compliance. The requirement for improved security, ease of use, and regulatory compliance in client verification procedures is what is driving the demand for video KYC solutions.
๐๐ฎ๐ฅ๐๐ฌ ๐๐จ๐ซ ๐๐๐ ๐ฎ๐ฅ๐๐ญ๐จ๐ซ๐ฒ ๐๐จ๐ฆ๐ฉ๐ฅ๐ข๐๐ง๐๐ ๐: Financial institutions, fintech companies, and other regulated entities are increasingly using Video KYC systems due to regulatory mandates and compliance duties. Businesses are required by regulations like Anti-Money Laundering (AML), Know Your Customer (KYC), and Counter-Terrorism Financing (CTF) to do due diligence procedures and verify the identity of their customers. Remote customer contacts can be facilitated and regulatory needs can be met securely with the help of video KYC.
๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐๐๐จ ๐๐๐ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ฌ ๐๐ฎ๐ซ๐ญ๐ก๐๐ซ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ ๐๐ฒ ๐ซ๐๐ ๐ข๐จ๐ง ๐ข๐ง๐ญ๐จ:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR โ United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR โ Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR โ United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR โ India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR โ North Africa, Israel, GCC, South Africa, and Rest of MENA
๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐ญ๐จ ๐๐๐ฆ๐จ๐ญ๐ ๐๐ฅ๐ข๐๐ง๐ญ ๐๐ง๐๐จ๐๐ซ๐๐ข๐ง๐ ๐๐ซ๐จ๐๐๐๐ฎ๐ซ๐๐ฌ ๐: Due to the COVID-19 epidemic, businesses are investing in digital identity verification technologies like Video KYC, which has expedited the use of remote customer onboarding processes. In light of social distancing policies and consumer inclination for contactless contacts, businesses are using Video KYC to enroll clients remotely in lieu of in-person meetings. In the post-pandemic period, it is anticipated that this shift towards remote onboarding will propel consistent growth in the Video KYC industry.
๐๐จ๐ฉ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ:
- Ameyo
- SignDesk
- GIEOM Business Solutions
- Onfido
- PegasystemsInc,
- IDnow GmbH
- LeadSquared
- FRSLABS
- Signzy Technologies Private Limited.
- Shufti Pro
- HyperVerge Inc.
- Signicat
- Great Software Laboratory
๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐ง๐ ๐๐ฌ๐๐ซ ๐๐ฑ๐ฉ๐๐ซ๐ข๐๐ง๐๐ ๐๐๐ฏ๐๐ง๐๐๐ฆ๐๐ง๐ญ๐ฌ ๐: The capabilities and user experience of Video KYC solutions are being improved by technological advancements such as biometric authentication, machine learning, and artificial intelligence (ML/AI). While biometric authentication provides an additional degree of security to the verification process, AI-powered facial recognition algorithms allow for rapid and accurate identification verification. Adoption of Video KYC solutions across sectors is further aided by intuitive interfaces and smooth integration with current systems.
๐๐ง๐ก๐๐ง๐๐ข๐ง๐ ๐๐๐๐ฎ๐ซ๐ข๐ญ๐ฒ ๐๐ง๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐ข๐๐ง๐๐ ๐ข๐ง ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐ซ๐๐ง๐ฌ๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐ก๏ธ: In conclusion, the Video KYC market is poised for robust growth as organizations recognize the importance of secure and compliant customer verification processes in the digital era. By leveraging Video KYC solutions, businesses can streamline customer onboarding, mitigate fraud risks, and enhance trust and confidence among customers. As regulatory requirements evolve and technology continues to advance, Video KYC solutions will play a pivotal role in facilitating secure and seamless digital transactions across industries.