China Identity Verification Market Size & Outlook, 2022-2030
China Identity Verification Market, 2018-2030 (US$M)
Global Market
Related Markets
China identity verification market highlights
- The China identity verification market generated a revenue of USD 717.4 million in 2023 and is expected to reach USD 2,438.3 million by 2030.
- The China market is expected to grow at a CAGR of 19.1% from 2024 to 2030.
- In terms of segment, solution was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Identity verification market data book summary
| Market revenue in 2023 | USD 717.4 million |
| Market revenue in 2030 | USD 2,438.3 million |
| Growth rate | 19.1% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
| Key market players worldwide | Thales, TransUnion, Intellicheck Inc, Mitek Systems Inc, GB Group PLC, Experian PLC, Equifax Inc, Acuant, IDEMIA, Nuance Communications |
Other key industry trends
- In terms of revenue, China accounted for 6.2% of the global identity verification market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China identity verification market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,124.0 million by 2030.
The growth is driven by substantial investments in 5G infrastructure, which enhances the potential for seamless virtual and augmented reality experiences. The Chinese government actively promotes emerging technologies, including AR and VR, as part of its "Made in China 2025" initiative, leading to increased funding for startups and R&D activities in this space.
Additionally, a tech-savvy population with high demand for interactive and immersive experiences in gaming, entertainment, and education is propelling market growth. The combination of economic growth, rising disposable incomes, and a strong manufacturing base further supports the accessibility and affordability of immersive technologies for consumers.
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Identity Verification Market Scope
Identity Verification Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Thales | View profile | 81,000 | 4, rue de la Verrerie, Meudon, France, 92190 | www.thalesgroup.com |
| TransUnion | View profile | 13,200 | 555 West Adams Street, Chicago, IL, United States, 60661 | www.transunion.com |
| Intellicheck Inc | View profile | 51 | 200 Broad Hollow Road, Suite 207, Melville, NY, United States, 11747 | www.intellicheck.com |
| Mitek Systems Inc | View profile | 590 | 600 B Street, Suite 100, San Diego, CA, United States, 92101 | www.miteksystems.com |
| GB Group PLC | View profile | 1,250 | The Foundation, Herons Way, Chester Business Park, Chester, United Kingdom, CH4 9GB | www.gbgplc.com |
| Experian PLC | View profile | 22,500 | Fenian Street, 2 Cumberland Place, Dublin, Ireland, D02 HY05 | www.experianplc.com |
| Equifax Inc | View profile | 14,900 | 1550 Peachtree Street N.W., Atlanta, GA, United States, 30309 | www.equifax.com |
| Acuant | View profile | 101-250 | Los Angeles, California, United States, North America | www.acuant.com/ |
| IDEMIA | View profile | 10001+ | Courbevoie, Ile-de-France, France, Europe | www.idemia.com/ |
| Nuance Communications | View profile | 5001-10000 | Burlington, Massachusetts, United States, North America | www.nuance.com |
China Identity Verification Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Identity Verification Market Outlook will help companies and investors design strategic landscapes.
Solution was the largest segment with a revenue share of 70.25% in 2023.
Horizon Databook has segmented the China identity verification market based on solution, services covering the revenue growth of each sub-segment from 2017 to 2030.
The growth is driven by substantial investments in 5G infrastructure, which enhances the potential for seamless virtual and augmented reality experiences. The Chinese government actively promotes emerging technologies, including AR and VR, as part of its "Made in China 2025" initiative, leading to increased funding for startups and R&D activities in this space.
Additionally, a tech-savvy population with high demand for interactive and immersive experiences in gaming, entertainment, and education is propelling market growth. The combination of economic growth, rising disposable incomes, and a strong manufacturing base further supports the accessibility and affordability of immersive technologies for consumers.
- China Identity Verification Market Component Outlook (Revenue, USD Million , 2018-2030)
- Solutions
- Services
- China Identity Verification Market Type Outlook (Revenue, USD Million , 2018-2030)
- Biometrics
- Non-Biometrics
- China Identity Verification Market Deployment Outlook (Revenue, USD Million , 2018-2030)
- On-premises
- Cloud
- China Identity Verification Market Organization Size Outlook (Revenue, USD Million , 2018-2030)
- SMEs
- Large Enterprises
- China Identity Verification Market Vertical Outlook (Revenue, USD Million , 2018-2030)
- BFSI
- Government & Defense
- Healthcare & Life Sciences
- Retail & E-commerce
- IT & ITES
- Energy & Utilities
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the China Identity Verification Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into China Identity Verification Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
China Identity Verification Market, 2018-2030 (US$M)
China identity verification market statistics, by component, 2018-2030 (US$M)
