What is 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.
The market study is broken down, by Application (BFSI, Government, Military, Healthcare and Others) and major geographies with country level break-up.
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) and AU10TIX (Israel).
AdvanceMarketAnalytics has segmented the market of Global Age Verification Software market by Type, Application 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.
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.
- Use of Artificial Intelligence and Machine Learning
- Rising Adoption of the Digital Solutions by the Businesses
- Advancement in the Technology
- Biometrics is rising in Popularity
- Sophisticated Algorithms Involved in the Development of the Age Verification Software
- Rising Incidents of the Data Breach and Cyber Espionage
Key Target AudienceAge 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 ApproachTo 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 the 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 purpose to understand companys positioning regarding 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 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as 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) etc.
2. Can we have customized study for Age Verification Software Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Age Verification Software Market by 2026?
Analysts at AMA estimates Age Verification Software Market to reach USD Million by 2026.