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Global e-KYB Market

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Know Your Business (KYB) is a process which is widely known as the process of Know Your Customer (KYC). The main difference lies in the of the processes.

Organizations have to carry out background checks on new companies before payment has started to prevent such frauds. Furthermore, according to the ACFE, companies annually lose almost 5 percent of their sales to fraud.

Global e-KYB market is expected to project a notable CAGR of 13.05% in 2030.

Global e-KYB market to surpass USD 533.85 million by 2030 from USD 150.91 million in 2021 at a CAGR of 13.05 % in the coming years, i.e., 2021-30.  e-KYB helps to erase fraud by providing automated authentication and recognition and address data authorization in real-time, allowing fast documentation which is driving the market growth.

Attribute Key Insights
Estimated Market Value (2021)  0.150 USD Billion
Forecasted Market Value (2032) 0.533  USD Billion
CAGR % 2023-2028 13.05%`
Leading Region North America

 

The rising demand for KYB in countries like Australia, Hong Kong, U.S. EU, Japan, Singapore has hiked the market growth. The capability to minimize end costs for institutions while maintaining adequate quality standards during the KYB lifecycle is predicted to boost KYB solution adoption.

Key Trends

Increasing cases of business fraud such as wage evasion of identification, worker’s compensation will increase the growth.  Business fraud is characterized as unethical and illegal activity conduct by private individuals or businesses in order to gain a financial benefit.

Non-commercial distribution and non-payment of money, overpayment, and re-shipping are all examples of corporate fraud.  Increased investments in banking digitalization has become one of the most vital factor in the growth of the e-KYB market. In the digital banks sector, the investments have grown which is expected to proliferate the market in the coming years.

This investment has resulted an increase in the number of digital banking users worldwide.

By Delivery Model

  • On Premises
  • Cloud- Based

The cloud based segment is anticipated to capture a high market share during the analysis timeline owing to the cost effective cloud based implementation of e-KYB solutions facilitated by SaaS e-KYB solutions provided by companies.

 

By End User

  • Telecom Companies
  • Banks
  • Financial Institutions
  • E-Payment Service Provider
  • Telecom Companies
  • Government entities
  • Insurance Companies

The baking sector is anticipated to amplify significantly over the forecast duration owing to the fact that KYB is an efficient process of stopping banks from participating in illegal activities including financial frauds.

 

Global e-KYB market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global e-KYB market in North America held the largest market share.

North America being led by USA is the dominant one due to the recent identity frauds faced by the population in recent years. The market share is attributed to the growing need in countries like Canada and the U.S. for fraud detection.

U.S. reportedly suffered identity theft in 2016 and this is likely to generate new growth opportunities in the sub-continent for the e-KYB industry. Furthermore, it is anticipated that Asia Pacific is the fastest growing e-KYB market for the forecast period.

Companies

  • TruNarrative
  • Onfido
  • Shufti Pro among
  • IDnow
  • Jumio
  • Acuant

 

The reports and services offered by the researchers are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

 

  • Base Year- 2021
  • Growth Rate- CAGR 13.05%
  • Revenue in 2021- USD 150.91 Million
  • Revenue in 2032- USD 533.85 Million
  • Segments Covered- Delivery Model, Region, and End-User.

 

ToC

      1. Global E-KYB Market Introduction and Market Overview
        • Objectives of the Study
        • Global E-KYB Market Scope and Market Estimation
          • Global E-KYB Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 – 2032)
          • Global E-KYB Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 – 2032
        • Market Segmentation
          • Delivery Model of Global E-KYB Market
          • End User of Global E-KYB Market
          • Region of Global E-KYB Market
      1. Executive Summary
      2. Market Factor Analysis
        • Global E-KYB Market Industry Trends under COVID-19 Outbreak
          • Global COVID-19 Status Overview
          • Influence of COVID-19 Outbreak on Global E-KYB Market Industry Development
        • Market Dynamics, By Region
          • Drivers
          • Limitations
          • Opportunities
          • Impact Analysis of Drivers and Restraints
        • Global E-KYB Market – Pricing Trends Analysis & Average Selling Prices (ASPs)
        • End-User / Customer Preferences & Consumer Surveys
        • Technology Roadmap & Key Innovations /Developments
        • Key Mandates & Regulatory Scenario Analysis
        • Patents Landscape
        • Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
        • Porter’s Five Forces Analysis
          • Bargaining Power of Suppliers
          • Bargaining Power of Buyers
          • Threat of Substitutes
          • Threat of New Entrants
          • Competitive Rivalry
        • PEST Analysis
          • Political Factors
          • Economic Factors
          • Social Factors
          • Technological Factors
        • SWOT Analysis
        • ANSOFF Matrix
          • Market Penetration Strategy
          • Product Development Strategy
          • Market Development Strategy
          • Diversification Strategy
        • Market Investment Feasibility Analysis
        • Opportunity Map Analysis
        • Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
      3. Global E-KYB Market Estimates & Historical Trend Analysis (2019 – 2022)
      4. Global E-KYB Market Estimates & Forecast Trend Analysis, by Delivery Model
        • Global E-KYB Market Revenue (US$ Mn) Estimates and Forecasts, by Delivery Model, 2019 to 2032
        • On Premises
        • Cloud- Based
      5. Global E-KYB Market Estimates & Forecast Trend Analysis, by End User
        • Global E-KYB Market Revenue (US$ Mn) Estimates and Forecasts, by End User, 2019 to 2032
        • Telecom Companies
        • Banks
        • Financial Institutions
        • E-Payment Service Provider
        • Telecom Companies
        • Government entities
        • Insurance Companies
      6. Global E-KYB Market Estimates & Forecast Trend Analysis, by Region
        • Global E-KYB Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2032
          • North America
          • Europe
          • Asia Pacific
          • Middle East & Africa
          • South America
      1. North America E-KYB Market: Estimates & Forecast Trend Analysis
        • North America E-KYB Market Assessments & Key Findings
          • E-KYB Market Introduction
          • E-KYB Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
            • By Delivery Model
            • By End User
            • By Country
              • The U.S.
              • Canada
              • Mexico
      1. Europe E-KYB Market: Estimates & Forecast Trend Analysis
        • Europe E-KYB Market Assessments & Key Findings
          • E-KYB Market Introduction
          • E-KYB Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
            • By Delivery Model
            • By End User
            • By Country
              • Germany
              • K.
              • France
              • Italy
              • Spain
              • Russia
              • Rest of Europe
      1. Asia Pacific E-KYB Market: Estimates & Forecast Trend Analysis
        • Asia Pacific Market Assessments & Key Findings
          • E-KYB Market Introduction
          • E-KYB Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
            • By Delivery Model
            • By End User
            • By Country
              • China
              • Japan
              • India
              • Australia
              • South Korea
              • ASEAN
              • Rest of Asia Pacific
      1. Middle East & Africa E-KYB Market: Estimates & Forecast Trend Analysis
        • Middle East & Africa Market Assessments & Key Findings
          • E-KYB Market Introduction
          • E-KYB Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
            • By Delivery Model
            • By End User
            • By Country
              • A.E.
              • Saudi Arabia
              • Egypt
              • South Africa
              • Rest of Middle East & Africa
      1. South America E-KYB Market: Estimates & Forecast Trend Analysis
        • South America Market Assessments & Key Findings
          • E-KYB Market Introduction
          • E-KYB Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
            • By Delivery Model
            • By End User
            • By Country
              • Brazil
              • Argentina
              • Colombia
              • Rest of South America
      1. Competition Landscape
        • E-KYB Market Competition Index, By Leading Players
        • E-KYB Market Competition White Space Analysis, By Application / End-user
        • E-KYB Market Competition Heat Map Analysis, By Products / Services / Solutions
        • E-KYB Market Competition Regional Intensity Map Analysis, By Geographies Served
        • E-KYB Market Concentration & Company Market Shares (%) Analysis, 2022
        • E-KYB Market Competition Quadrant Analysis, By Leading Players / Innovators / Emerging Players / New Entrants
      2. Company Profiles
        • TruNarrative
          • Company Overview & Key Stats
          • Financial Performance & KPIs
          • Product / Service / Solutions Portfolio & Applications / End-uses
          • Business Strategy & Recent Developments

      * Similar details would be provided for all the players mentioned below 

      • Onfido
      • Shufti Pro among
      • IDnow
      • Jumio
      • Acuant
      • Others
      1. Research Methodology
        • External Sources / Databases
        • Internal Proprietary Database
        • Primary Research
        • Secondary Research
        • Assumptions
        • Limitations
        • Report FAQs
      2. Research Findings & Conclusion

       

       

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