India E-KYC market anticipated to trigger due to the digitalize customer onboarding process and reduce organization operation cost
The India e-KYC market estimated to grow at a significant CAGR over the forecast period, 2020-2027. The key factors are reducing paperwork and cut down on the turnaround time of completing KYC formalities online in real-time in a few easy steps. Additionally, the government regulators are focusing on tracking digital currency and regulating it to eliminate anonymity in transactions, and cross-border funds transfers are anticipated to fuel the demand for e-KYC across India in the coming years. Further, the growing application of e-KYC for verified remotely in India and reduce the costs of financial institutions is strengthening the market growth. Also, the increasing applications of AI and Machine in analyzing a massive amount of data generated through transactions involving digital currencies and help in reducing the number of false alerts India, these factors are expected to propel the demand for e-KYC over the coming years.
Moreover, the surge in demand for e-KYC in rising the customer satisfaction and meet the same safety standards as traditional ones of identification such as face verification with high levels of safety and reliability will spur the growth of the India e-KYC market size. Furthermore, the surge in the applications of artificial intelligence and machine learning that are helping organizations digital transformation coupled with manage in reducing costs, automate processes, and provide the highest levels of security, these vital factors will bolster the growth of the e-KYC market.
Type Overview in the India E-KYC Market
Based on Type, the India e-KYC market bifurcates into Aadhaar e-KYC and Video-based KYC. The Aadhaar e-KYC will be the fastest-growing segment in the forecast period. It is attributable to the growing use of Aadhaar by organizations to authenticate using Biometrics to complete the KYC process, reduce the ever-increasing regulatory burden and compliance cost; and verification of Indian consumers by financial service providers using Aadhaar e-KYC.
Video-based KYC will capture the highest revenue in 2027 in the Indian E-KYC market. It is owing to it eliminates the time and cost required to validate a customer, speeding up customer onboarding manually.
Deployment Model Overview in the India E-KYC market
Based on the deployment model, the India e-KYC market segregated into Cloud and On-Premises. The On-Premises held for the highest revenue in 2019 due to organizations help in understanding the risk associated with the data storage and providing the option to use their server for storing customer data.
Component Overview in the India E-KYC Market
Based on the component, the India e-KYC market bifurcates into Software and Services. Software accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to the surge in adoption of e-KYC software across organizations to reduce the cost of compliance, and achieve consistent regulatory coverage, and speed up customer remote onboarding.
End-User Industry Overview in the India E-KYC Market
Based on the end-user industry, the India e-KYC market segmented into Banking Industry, Financial Institutions, E-payment Service Providers, Telecom Companies, Government Entities, Insurance Companies, and Others. The banking industry segment estimated to dominate the E-KYC market by 2027. It is due to the upsurge in the application of E-KYC in automating customer onboarding, eliminate paperwork in loan application processing by authenticating KYC documents online and automate payment collections, and prevent in identity fraud.
Regional Overview in the India E-KYC Market
Based on geography, the India E-KYC market segmented into North India, South India, West India, and East India. North India accounted for maximum revenue share in 2019, owing to the massive surge in demand for e-KYC in the banking and financial industry in digital in-person verification, seamless end-to-end customer onboarding, cost reduction in onboarding and cloud-based security solutions.
India E-KYC Market: Competitive Landscape
Companies such as Veri5Digital, Signzy, Videokyc, Signdesk, Syntizen, IDfy, Equifax, Inc., Digio, Trulio, Wipro Technologies, Tata Consultancy Services (TCS) and inVOID are the key players in the India E-KYC Market.

India E-KYC Market Report Content 1. Research Strategic Development 1.1. Market Modelling 1.2. Product Analysis 1.3. Market Trend and Economic Factors Analysis 1.4. Market Segmental Analysis 1.5. Geographical Mapping 1.6. Country Wise Segregation 2. Research Methodology 2.1. Identification of Target Market 2.2. Data Acquisition 2.3. Refining of Data/ Data Transformations 2.4. Data Validation through Primary Techniques 2.5. Exploratory Data Analysis 2.6. Graphical Techniques/Analysis 2.7. Quantitative Techniques/Analysis 2.8. Visual Result/Presentation 3. Executive Summary 4. Market Insights 4.1. Economic Factor Analysis 4.1.1. Drivers 4.1.2. Trends 4.1.3. Opportunities 4.1.4. Challenges 4.2. Technological Landscape 4.3. Competitors & Product Analysis 4.4. Regulatory Framework 4.5. Company market share analysis, 2019 4.6. Porter's Five forces analysis 4.7. New Investment Analysis 4.8. PESTEL Analysis 5. India E-KYC Market Overview 5.1. Market Size & Forecast, 2016-2027 5.1.1. Demand 5.1.1.1. By Value (USD Million) 5.1.2. Consumption 5.1.2.1. By Volume (Number of Customers) 5.2. Market Share & Forecast, 2016-2027 5.2.1. By Type 5.2.1.1. Aadhaar e-KYC 5.2.1.2. Video-based KYC 5.2.2. By Component 5.2.2.1. Software 5.2.2.2. Services 5.2.3. By Deployment Model 5.2.3.1. Cloud 5.2.3.2. On-Premises 5.2.4. By End-User Industry 5.2.4.1. Banking Industry 5.2.4.2. Financial Institutions 5.2.4.3. E-payment Service Providers 5.2.4.4. Telecom Industry 5.2.4.5. Government Entities 5.2.4.6. Insurance Industry 5.2.4.7. Others 5.2.5. By Region 5.2.5.1. North India 5.2.5.2. South India 5.2.5.3. West India 5.2.5.4. East India 6. North India E-KYC Market Overview 6.1. North India E-KYC Market Size & Forecast, 2016-2027 6.1.1. Demand 6.1.1.1. By Value (USD Million) 6.1.2. Consumption 6.1.2.1. By Volume (Number of Customers) 6.2. North India E-KYC Market Share & Forecast, 2016-2027 6.2.1. By Type 6.2.1.1. Aadhaar e-KYC 6.2.1.2. Video-based KYC 6.2.2. By Component 6.2.2.1. Software 6.2.2.2. Services 6.2.3. By Deployment Model 6.2.3.1. Cloud 6.2.3.2. On-Premises 6.2.4. By End-User Industry 6.2.4.1. Banking Industry 6.2.4.2. Financial Institutions 6.2.4.3. E-payment Service Providers 6.2.4.4. Telecom Industry 6.2.4.5. Government Entities 6.2.4.6. Insurance Industry 6.2.4.7. Others 7. South India E-KYC Market Overview 7.1. South India E-KYC Market Size & Forecast, 2016-2027 7.1.1. Demand 7.1.1.1. By Value (USD Million) 7.1.2. Consumption 7.1.2.1. By Volume (Number of Customers) 7.2. South India E-KYC Market Share & Forecast, 2016-2027 7.2.1. By Type 7.2.1.1. Aadhaar e-KYC 7.2.1.2. Video-based KYC 7.2.2. By Component 7.2.2.1. Software 7.2.2.2. Services 7.2.3. By Deployment Model 7.2.3.1. Cloud 7.2.3.2. On-Premises 7.2.4. By End-User Industry 7.2.4.1. Banking Industry 7.2.4.2. Financial Institutions 7.2.4.3. E-payment Service Providers 7.2.4.4. Telecom Industry 7.2.4.5. Government Entities 7.2.4.6. Insurance Industry 7.2.4.7. Others 8. West India E-KYC Market Overview 8.1. West India E-KYC Market Size & Forecast, 2016-2027 8.1.1. Demand 8.1.1.1. By Value (USD Million) 8.1.2. Consumption 8.1.2.1. By Volume (Number of Customers) 8.2. West India E-KYC Market Share & Forecast, 2016-2027 8.2.1. By Type 8.2.1.1. Aadhaar e-KYC 8.2.1.2. Video-based KYC 8.2.2. By Component 8.2.2.1. Software 8.2.2.2. Services 8.2.3. By Deployment Model 8.2.3.1. Cloud 8.2.3.2. On-Premises 8.2.4. By End-User Industry 8.2.4.1. Banking Industry 8.2.4.2. Financial Institutions 8.2.4.3. E-payment Service Providers 8.2.4.4. Telecom Industry 8.2.4.5. Government Entities 8.2.4.6. Insurance Industry 8.2.4.7. Others 9. East India E-KYC Market Overview 9.1. East India E-KYC Market Size & Forecast, 2016-2027 9.1.1. Demand 9.1.1.1. By Value (USD Million) 9.1.2. Consumption 9.1.2.1. By Volume (Number of Customers) 9.2. East India E-KYC Market Share & Forecast, 2016-2027 9.2.1. By Type 9.2.1.1. Aadhaar e-KYC 9.2.1.2. Video-based KYC 9.2.2. By Component 9.2.2.1. Software 9.2.2.2. Services 9.2.3. By Deployment Model 9.2.3.1. Cloud 9.2.3.2. On-Premises 9.2.4. By End-User Industry 9.2.4.1. Banking Industry 9.2.4.2. Financial Institutions 9.2.4.3. E-payment Service Providers 9.2.4.4. Telecom Industry 9.2.4.5. Government Entities 9.2.4.6. Insurance Industry 9.2.4.7. Others 10. Competitor Analysis 10.1. Company Description 10.2. Financial Analysis 10.3. Key Products 10.4. Key Management Personnel 10.5. Contact Address 10.6. SWOT Analysis 10.7. Company Profile 10.7.1. Veri5Digital 10.7.2. Signzy 10.7.3. Videokyc 10.7.4. Signdesk 10.7.5. Syntizen 10.7.6. IDfy 10.7.7. inVOID 10.7.8. Equifax, Inc. 10.7.9. Digio 10.7.10. Trulio 10.7.11. Wipro Technologies 10.7.12. Tata Consultancy Services (TCS) 10.7.13. Other Prominent Players

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