Digital ID Verification Spending to Soar 80% Through 2027: Juniper

The global spend on digital identity verification will approach $21 billion in 2027, up from $11.6 billion in 2022, reported Juniper Research Tuesday. The increasing prevalence of digital services requiring “digital onboarding journeys,” plus the growing requirement for more advanced and robust identity verification systems amid rising fraud are the key factors that will drive the nearly 80% increase over the next five years, it said: “Digital identity verification is where identity is checked using digitally verifiable elements, such as selfie scans, address checks and knowledge-based authentication.”