𝐕𝐢𝐝𝐞𝐨 𝐊𝐘𝐂 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

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.

𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐈𝐝𝐞𝐧𝐭𝐢𝐭𝐲 𝐕𝐞𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 👈: 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.

𝐑𝐮𝐥𝐞𝐬 𝐟𝐨𝐫 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 📜: 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.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐕𝐢𝐝𝐞𝐨 𝐊𝐘𝐂 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐛𝐲 𝐫𝐞𝐠𝐢𝐨𝐧 𝐢𝐧𝐭𝐨:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – 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 – 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 – North Africa, Israel, GCC, South Africa, and Rest of MENA

𝐓𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 𝐭𝐨 𝐑𝐞𝐦𝐨𝐭𝐞 𝐂𝐥𝐢𝐞𝐧𝐭 𝐎𝐧𝐛𝐨𝐚𝐫𝐝𝐢𝐧𝐠 𝐏𝐫𝐨𝐜𝐞𝐝𝐮𝐫𝐞𝐬 🌞: 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.

𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

• Ameyo
• SignDesk
• GIEOM Business Solutions
• Onfido
• PegasystemsInc,
• IDnow GmbH
• LeadSquared
• FRSLABS
• Signzy Technologies Private Limited.
• Shufti Pro
• HyperVerge Inc.
• Signicat
• Great Software Laboratory

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐚𝐧𝐝 𝐔𝐬𝐞𝐫 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 🚀: 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.

𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐢𝐧 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬 🛡️: 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.