e-KYC Market 2021 Industry Share, Development, Market Trends

e-KYC Market Report 2021 contains a comprehensive analysis of the important segments like market opportunities, Share, market dynamics, key players, rate of growth, and key regions. The e-KYC Market growth is predicted to register a CAGR of Growing rate% during the forecast period.

e-KYC Market by Application (Financial Institutions, Banks, Telecom Companies, E-payment Service Providers and Insurance Companies) and by Region: Global Industry Trends, and Forecast Analysis, 2021 to 2027.

Request a Sample PDF of Report @

e-KYC Market Size

The Global e-KYC Market is estimated to grow from USD 291.14 Million in 2019 to reach USD 1,568.95 Million by 2027, at a CAGR of 23.4% during the forecast period from 2020-2027.

Factor like a secure system, paperless systems and work, free of cost process and regulator friendly are expected to drive the growth in the market for e-KYC in the mobile phones. In addition to this, increasing number of identity-related frauds and rising importance of compliance management are boosting the growth further.

Covid-19 Impact Analysis

Due to COVID-19, there is an increase in online processes like online transactions and online onboarding, so it has become essential for verticals like telecom companies, banks and financial institutions to shift to e-KYC. Also, various consumers due to the fear of pandemic are conveniently opting for signing up through digital channels, opting for digital verifications, transactions and other bank related works, thus turning to digital or e-KYC.

The outbreak of COVID-19 has created a stronger and positive path and helped boost the e-KYC market. Major countries under the lockdown are moving to digitalization thus reducing the paperwork involved and turnaround time required. Also, e-KYC has enabled various new customers to enter financial markets digitally during the period of pandemic. Thus, the e-KYC market is getting a major facelift during the period of COVID-19 pandemic.

Key Market Players:

Here are the top Key companies in Global e-KYC Market analysis

  • Acuant (U.S.)
  • Trust Stamp (U.S.)
  • Pegasystems Inc. (U.S.)
  • Mitek (U.S.)
  • Jumio (U.S.)
  • Trulioo (Canada)
  • Onfido (U.K.)
  • GB Group (U.K.)
  • IDnow GmbH (Germany)
  • Financial Software & Systems Pvt. Ltd. (India)
  • GIEOM Business Solutions (India)
  • Panamax Inc. (India)
  • Tata Consultancy Services (TCS) (India)
  • Wipro Technologies (India)
  • Au10tix (Israel)
  • EverCompliant (Israel)

Are you Looking for Regional Insights / Report Customization?

Key Highlights of e-KYC Market Report:

  • Granular analysis of market size estimates in terms of value (revenue), volume and growth rate at country and region level for each segment and sub-segment
  • Current industry trends and developments shaping the market
  • Competitive market share analysis for major market players, pricing and cost analysis along with product benchmarking
  • Qualitative analysis of growth driving factors, opportunities, restraints, market challenges and risks or threats
  • Market attractiveness analysis for each major segment
  • To analyse the revenue pockets in the market for stakeholders or major vendors by categorizing the specific high growth segments

Regional Analysis

North America dominated the global e-KYC market by 45% in 2019

North America is technologically very advanced, has a very high number of early adopters and many market leaders have their presence in this region. Also, other factors like government initiatives, development of digital identity-based driver’s license, integration of blockchain, ML and AI in order to secure the digital identities are responsible for the maximum share of this region in e-KYC market.

Asia pacific is expected to grow at the fastest CAGR of 24.2% during the forecast period of 2020 – 2027. Increasing number of external and internal threats, upsurge in the AI, IoT and cloud adoption are expected to boost the market. Also, these days; the use of biometric identification is made compulsory in various developing countries in order to prevent Money-Laundering.

Segmentation Analysis

On the basis of application, the banking segment dominated the market by 40% in 2019

Amongst all the applications, banks accounted for the maximum share and is estimated to continue contributing for a major share across the forecast period as well. Various factors like rising application of e-KYC for eliminating paperwork during loan application and automating customer onboarding activity are leading for an increased growth.

The increasing usage of e-KYC, is improving the services like digital payment and digital onboarding and thus improving the customer experience and driving the growth of digital verification across the globe. While doing the digital onboarding banks are conducting the AML screening and identity proofing; and are leveraging a combination of Artificial Intelligence (AI), Live Video and Optical Character Recognition (OCR) are thus increasingly taking for maintaining the authenticity of the customers.

Global e-KYC market report is segmented as:

By Application

  • Financial Institutions
  • Banks
  • Telecom Companies
  • E-payment Service Providers
  • Insurance Companies
  • Government Entities
  • Others

The regional scope covers value (revenue) and volume data for below mentioned countries and regions:

  • North America (U.S., Canada, Rest of North America)
  • Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia Pacific (China, Japan, India, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa)

Key Advantages to purchase e-KYC Market Report:

  • To gain complete analysis on market potential, growth and trends data
  • To analyse current competitive trends in the market and strategies used by key players to strengthen their businesses & leading market position
  • Evaluate major market challenges and risks and implement solutions or strategies to mitigate the market risks
  • To gain clear understanding of global market scope, potential, growth influencing drivers, restraints and opportunities
  • To perceive future market outlook and growth prospects for strategic business decisions like geographic or product portfolio expansion
  • Besides syndicate reports, we also offer customized research solutions and consulting services for specific business needs

Years considered in the report are:

  • Historic Years: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Table of Content

  1. Preface
  2. Research Methodology
    2.1. Research Methodology
    2.2. Models
    2.3. Research limitations
  3. Executive Summary
  4. Post COVID-19 Industry Dynamics
  5. COVID-19 Impact Analysis on Industry
    5.1. Restrictions due to COVID-19
    5.2. Demand-side Constraints
    5.3. Supply-side Constraints


Browse Full Report Access here:

About Us:

ReportCrux is a global market intelligence aggregator and publisher of market research reports, business information reports, economic and equity reports. We cater a diverse range of industrial sectors along with niche domains and sub-domains within the industry. We offer exclusive blend of cutting-edge market insights for the critical business needs.

Contact us:

Name: Ms. Samantha M.



Phone: +1-888-526-5515 (US/Canada), 89561 57215

ReportCrux Market Research

View Comments

Recent Posts

PCOD: Causes, Symptoms, Treatment In Ayurveda

What is PCOD?  PCOD or Polycystic Ovary Disorder is a medical condition that involves the…

2 hours ago

How Tumblr Ups The Personal Game: Over 321M Microblogs Showcase The Character & Invite On The Web Connection

The brief type: In 2007, another writromantic date ideas in atlantag system referred to as…

21 hours ago

Instagram Impressions and other IG Lingo Marketers

Instagram Impressions and other IG Lingo Marketers Should Be Aware of Are you ready to…

2 days ago

Should your business Buy Instagram Followers from the UK?

There's a ton of discussion and discussions encompassing buy Instagram followers UK. Might it at…

2 days ago

Seven Absolute Best Gifts for the Best Parents in the World

Since we were kids, it is always our parents who show their unconditional love for…

3 days ago

Create a buyer persona for your grocery company so you can beat your competition

The term “buyer” means an all-encompassing representation of a group of minds, demographics, needs, and…

3 days ago