India video-based customer identification process market anticipated to propelling due to its help in automated document extraction & validation and saving costs associated with physically onboarding customers
The India video-based customer identification process market estimated to grow at a significant rate over during the forecast period, 2020-2207. The key factors are the ability of a video-based customer identification process to help banks and other lending institutions, onboard customers, remotely. Additionally, the RBI's progressive move, 2020, to bring Video KYC with influence the digital channels for the customer identification process (CIP) by regulated entities will boom the growth of video-based customer identification process market. The growing adoption of V-CIP to customers speed up onboarding and mitigate fraud will positively impact the India video-based customer identification process market size in future periods.
Moreover, the increasing usages of artificial intelligence and machine learning by banking, insurance, financial, and investment services for V-CIP to reduce digital customer onboarding costs and to offer a unique user experience are driving the robust growth of the V-CIP market in the forecast span. The V-CIP helps in preventing the AML (Anti-Money Laundering) and provide electronic identification, authentication, and trust services in open a bank account online with total security. Furthermore, the surge in demand for VCIP for improving onboarding efficiency and cost to serve along with the rise of millennial and augmented use of smartphones around the clock by millennials will trigger India to video-based customer identification process market share.
Deployment Model Overview in the India Video-Based Customer Identification Process Market
Based on the deployment model, the India video-based customer identification process market classified into Hybrid SaaS, Private Cloud, and On-Premise. The Hybrid SaaS will be the fastest-growing segment in the forecast period. It is attributable to hybrid SaaS provides the convenience of the cloud with security and user control, but organizations usages cloud on their storage.
On-Premise will capture the highest revenue by 2027 in the Indian video-based customer identification process market. It is owing to the use of on-premise provide benefits banking and non-banking financial institutions to use their servers for storing data.
Technology Overview in the India Video-Based Customer Identification Process Market
Based on technology, the India video-based customer identification process market segregated into AI, machine learning, face recognition technology, and others. The AI segment will witness for larger market share in the market by 2027. It is due to artificial intelligence help in remotely conducted e-KYC with facing matching technology.
The face recognition technology will occupy a lucrative CAGR during the forecast period owing to the face-matching technology help in avoid chances of any fraud or manipulation.
End-user Overview in the India Video-Based Customer Identification Process Market
Based on the end-user, the India video-based customer identification process market segmented into Banking, Investment Management, Insurance, Telecom, Digital Payment Industry, Public Sector, Retail, Hospitality, and Others. The banking segment estimated to dominate the video-based customer identification process market by 2027. It is due to the rise in the application of video-based customer identification process in the banking industry for automating verifying millions of customers and avoiding the anti-money laundering frauds in banking.
Regional Overview in the India Video-based customer identification process Market
Based on geography, the India video-based customer identification process market segmented into North India, South India, West India, and East India. North India will account for the maximum revenue share by 2027. It is owing to the high adoption of the video-based customer identification process in banking, insurance, and non-banking financial institutions to automate fast customer onboarding and preventing the number of fraudulent transactions and massive data breaches.
India Video-based customer identification process Market: Competitive Landscape
Companies such as Veri5Digital, Signzy, Videokyc, Signdesk, Syntizen, IDfy, and inVOID, are the key players in the India video-based customer identification process market.
India Video-Based Customer Identification Process 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 Video-Based Customer Identification Process 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 Deployment Model
5.2.1.1. Hybrid SaaS
5.2.1.2. Private Cloud
5.2.1.3. On-Premise
5.2.2. By Technology
5.2.2.1. Artificial Intelligence
5.2.2.2. Machine Learning
5.2.2.3. Face Recognition Technology
5.2.2.4. Others
5.2.3. By End-User
5.2.3.1. Banking
5.2.3.2. Investment Management
5.2.3.3. Insurance
5.2.3.4. Telecom
5.2.3.5. Digital Payment Industry
5.2.3.6. Public Sector
5.2.3.7. Retail
5.2.3.8. Hospitality
5.2.3.9. Others
5.2.4. By Region
5.2.4.1. North India
5.2.4.2. South India
5.2.4.3. West India
5.2.4.4. East India
6. North India Video-Based Customer Identification Process Market Overview
6.1. North India Video-Based Customer Identification Process 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 Video-Based Customer Identification Process Market Share & Forecast, 2016-2027
6.2.1. By Deployment Model
6.2.1.1. Hybrid SaaS
6.2.1.2. Private Cloud
6.2.1.3. On-Premise
6.2.2. By Technology
6.2.2.1. Artificial Intelligence
6.2.2.2. Machine Learning
6.2.2.3. Face Recognition Technology
6.2.2.4. Others
6.2.3. By End-User
6.2.3.1. Banking
6.2.3.2. Investment Management
6.2.3.3. Insurance
6.2.3.4. Telecom
6.2.3.5. Digital Payment Industry
6.2.3.6. Public Sector
6.2.3.7. Retail
6.2.3.8. Hospitality
6.2.3.9. Others
7. South India Video-Based Customer Identification Process Market Overview
7.1. South India Video-Based Customer Identification Process 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 Video-Based Customer Identification Process Market Share & Forecast, 2016-2027
7.2.1. By Deployment Model
7.2.1.1. Hybrid SaaS
7.2.1.2. Private Cloud
7.2.1.3. On-Premise
7.2.2. By Technology
7.2.2.1. Artificial Intelligence
7.2.2.2. Machine Learning
7.2.2.3. Face Recognition Technology
7.2.2.4. Others
7.2.3. By End-User
7.2.3.1. Banking
7.2.3.2. Investment Management
7.2.3.3. Insurance
7.2.3.4. Telecom
7.2.3.5. Digital Payment Industry
7.2.3.6. Public Sector
7.2.3.7. Retail
7.2.3.8. Hospitality
7.2.3.9. Others
8. West India Video-Based Customer Identification Process Market Overview
8.1. West India Video-Based Customer Identification Process 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 Video-Based Customer Identification Process Market Share & Forecast, 2016-2027
8.2.1. By Deployment Model
8.2.1.1. Hybrid SaaS
8.2.1.2. Private Cloud
8.2.1.3. On-Premise
8.2.2. By Technology
8.2.2.1. Artificial Intelligence
8.2.2.2. Machine Learning
8.2.2.3. Face Recognition Technology
8.2.2.4. Others
8.2.3. By End-User
8.2.3.1. Banking
8.2.3.2. Investment Management
8.2.3.3. Insurance
8.2.3.4. Telecom
8.2.3.5. Digital Payment Industry
8.2.3.6. Public Sector
8.2.3.7. Retail
8.2.3.8. Hospitality
8.2.3.9. Others
9. East India Video-Based Customer Identification Process Market Overview
9.1. East India Video-Based Customer Identification Process 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 Video-Based Customer Identification Process Market Share & Forecast, 2016-2027
9.2.1. By Deployment Model
9.2.1.1. Hybrid SaaS
9.2.1.2. Private Cloud
9.2.1.3. On-Premise
9.2.2. By Technology
9.2.2.1. Artificial Intelligence
9.2.2.2. Machine Learning
9.2.2.3. Face Recognition Technology
9.2.2.4. Others
9.2.3. By End-User
9.2.3.1. Banking
9.2.3.2. Investment Management
9.2.3.3. Insurance
9.2.3.4. Telecom
9.2.3.5. Digital Payment Industry
9.2.3.6. Public Sector
9.2.3.7. Retail
9.2.3.8. Hospitality
9.2.3.9. 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. Other Prominent Players
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