The global E-KYC market size was US$ 1571.1 million in 2021. The global E-KYC market is forecast to grow to US$ 2791.5 million by 2030 by registering a compound annual growth rate (CAGR) of 21.5% during the forecast period from 2022 to 2030.

Factors Influencing the Market
The E-KYC market is anticipated to grow as a result of factors such as terrorist financing operations and substantial financial losses in the banking, financial services, and insurance (BFSI) sectors. 
Additionally, it is anticipated that the rising significance of compliance management and the rise in identity-related frauds would benefit the overall market during the study period. Other factors like the rapidly growing frequency of cyberattacks against small and medium-sized businesses will contribute to the market growth during the study period. 
Apart from that, the rising inclination towards digital payment methods is expected to bring myriad growth opportunities for the E-KYC market during the study period. Mobile payment is becoming popular even in developing nations like India and China. Apart from that, the rising popularity of cloud computing and AI will drive the growth of the E-KYC market during the forecast timeframe. 
On the flip side, a lack of awareness related to E-KYC may limit the growth of the market during the forecast timeframe.

COVID-19 Impact Analysis
The COVID-19 pandemic situation was a significant push to upscale the adoption of online payment methods. Online payment platforms recorded a significant boom in user base, which amplified the growth of the E-KYC market. In addition, online payment has become a new normal after the COVID-19 pandemic, which is expected to have a long-term beneficial impact on the overall market.

Regional Analysis
In terms of revenue, E-KYC market in North America is witnessing the highest growth and is expected to hold the dominance in the coming years owing to the growing identity frauds and growing need for fraud detection in nations like Canada and the United States. APAC will also record significant growth in the global E-KYC market due to the factors like a large population base and a steadily growing user base on online shopping platforms. Apart from that, the growing popularity of online payments and online shopping will accelerate the growth of the market during the study period.

Competitors in the Market
• Tata Consultancy Services (TCS)
• Wipro Technologies
• EverCompliant
• GIEOM Business Solutions
• 63 moons technologies limited
• Jumio Corporation
• IDnow GmbH
• Onfido
• Financial Software & Systems Pvt. Ltd.
• Pegasystems Inc.
• Panamax Inc.
• Other Prominent Players

Market Segmentation
The global E-KYC market segmentation focuses on Product, Deployment Mode, End-Use, and Region. 
By Product
• Identity Authentication and Matching
• Video Verification
• Digital ID Schemes
• Enhanced vs Simplified Due Diligence
By Deployment Mode
• Cloud-Based
• On-Premise
By End-Use
• Banks
• Financial Institutions
• E-payment Service Providers
• Telecom Companies
• Government Entities
• Insurance Companies
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America