About Age Verification Software
Age Verification Software allows for confirmation of the proper age of the users or the customers. This software utilizes both online tech and the on point of sale technology depending upon the requirements. Growth of the e-commerce market has had huge role in the growth of the age verification software. Rapid adoption of tech based solutions by the businesses as well as advancement in sophisticated algorithms too has had vital impact on its stimulation of growth. Although high costs and rise of data breach incidents may limit its growth. Geographically, North America is the largest market of the age verification software.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Rise of E-Commerce industry has led to the need for proper age verification mechanism in order to properly identify the minimum age of the customers. Age verification software which nowadays is equipped with AI and machine learning tools helps in almost accurate identification of the ages. North America is currently the largest market of the age verification software market. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Agechecked Ltd. (United Kingdom), Avsecure Limited (United States), Intellicheck, Inc. (United States), Idee Inc. (Canada), GBG Plc (United Kingdom), Veratad Technologies (United States), VeriMe (Pakistan), Imbibe Digital (United States), Yoti (United Kingdom) and LexisNexis (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are PXL Vision (Switzerland), Applied Recognition (Canada), AU10TIX (Israel) and TruAge (United States).
Segmentation Overview
AMA Research has segmented the market of Global Age Verification Software market by , Application (BFSI, Government, Military, Healthcare and Others) and Region.
On the basis of geography, the market of Age Verification Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Online will boost the Age Verification Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. Large Organisation will boost the Age Verification Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. On-Cloud will boost the Age Verification Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Artificial Intelligence and Machine Learning
Market Growth Drivers:
Rising Adoption of the Digital Solutions by the Businesses and Advancement in the Technology
Challenges:
Rising Incidents of the Data Breach and Cyber Espionage
Restraints:
Sophisticated Algorithms Involved in the Development of the Age Verification Software
Opportunities:
Biometrics is rising in Popularity
Market Leaders and their expansionary development strategies
In 2019, BankCard USA, one of the leading merchant account services provider in United States has announced acquisition of software and intellectual property of AgeChecker. This is to provide its customers with online age verification and payment software under one streamlined platform. This will also help in proper identification of the minimum age for the sale of tobacco, and alcohol.
In April 2023, TruAge, partnered with ThinkSys Inc. a prominent software development company, to create a custom business portal to simplify retailers’ on boarding, managing, and reporting of the age-verification process. This partnership helped TruAge, strengthened its position in age verification software market
Key Target Audience
Age Verification Software Developers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.