e-KYB Market Size - By Delivery Model(Cloud-based, On-premise), by End-user(Banks, Financial Institution, E- Payment Service Provider, Telecom Companies, Government entities, Insurance Companies) & Region - Forecasts 2023 - 2033

  • 1970-01-01
  • 260
  • Information Communication & Technology

Global e-KYB Market- DESCRIPTION

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.

Know Your Business (KYB) emphasises on identifying companies and suppliers. Know Your Business (KYB) also verifies information related to consumers as well as customers.

KYB process is conducted by many companies to carry out due diligence to identify the businesses they work with and fight money laundering and other related crimes.

KYB process is a necessity for companies that work with a large number of small and medium-sized enterprises or freelancers to avoid crimes and thefts. heft of identification, wage evasion, cash fraud, rendering fraud, workers' compensation, and more are among the frauds that are happening in businesses.

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- OVERVIEW

Global e-KYB market is expected to project a notable CAGR of 13.05% in 2033.

Global e-KYB market to surpass USD903 million by 2033 from USD 258 million in 2022 at a CAGR of 13.05 % in the coming years.

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.

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.


Source: WMR

Global e-KYB Market- Key Trends

·         Rising Prevalence of Fake Companies and Money Laundering Funds:

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.

·         Mounting Investments in Banking Digitization:

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.


Segmentation of the Global e-KYB Market:

Segmentation based on 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.

Segmentation based on 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- Geographical ambit

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.

Competitive Landscape:

Some of the major market network companies that play a vital role in the growth of the Global E- KYB Market are TruNarrative, Onfido, Shufti Pro, IDnow, Jumio, Trulioo, Acuant, and Others. 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.

Prominent Players Profiled: TruNarrative, Onfido, Shufti Pro, IDnow, Jumio, Trulioo, Acuant, and Others. 

1. Global e-KYB Market Introduction and Market Overview

1.1. Objective of the Market Research Study

1.2. e-KYB Market Definition & Description

1.3. Research Data Parameters & Reporting Timelines

1.3.1. Historical Data Reporting Years – 2020 to 2021

1.3.2. Projected Data Reporting Years – 2022 to 2033

1.3.3. Reporting Data Parameters – Value (US$ Million)

1.4. Global e-KYB Market Scope and Market Estimation

1.4.1. Global e-KYB Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2. Global e-KYB Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5. e-KYB Market Segmentation

1.5.1. By Delivery Model of Global e-KYB Market

1.5.2. End-user of Global e-KYB Market

1.5.3. Key Regions of Global e-KYB Market

2. Global e-KYB Market - Executive Summary

2.1. Global e-KYB Market – Summary & Snapshot

2.2. Global e-KYB Market, By Delivery Model (US$ Million)

2.3. Global e-KYB Market, By End-user (US$ Million)

2.4. Global e-KYB Market, By Geography (US$ Million)

2.5. Global e-KYB Market Outlook & Future Opportunities

3. e-KYB Market Trends, Outlook, and Factors Analysis

3.1. Global e-KYB Market Industry Development Trends under COVID-19 Outbreak

3.1.1. Global COVID-19 Status Overview

3.1.2. Influence of COVID-19 Outbreak on Global e-KYB Market Industry Development

3.1.3. Pre & Post COVID-19 Trends and Scenarios

3.2. e-KYB Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1. Drivers Fake businesses and money-laundering scams are on the rise. Increased investments in banking digitalization are a crucial factor driving the e-KYB industry. Driver 3

3.2.2. Restraints Technical Issues Lack of Knowledge

3.2.3. Opportunities Announcement of various regulations about e-KYB Digitization in modern and traditional business processes Opportunity 3

3.2.4. Impact Analysis of Drivers and Restraints

3.3. Ecosystem/ Value Chain Analysis

3.4. Porter’s Five Forces Analysis

3.5. SWOT Analysis

3.6. PEST Analysis

3.7. Average Selling Prices and Pricing Trends Analysis of e-KYB Market

3.8. Technological Roadmap

3.9. Key Investment Pockets of e-KYB Market

3.9.1. By Delivery Model

3.9.2. By End-user

3.9.3. By Regions

4. Global e-KYB Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1. Global e-KYB Market, 2020 – 2021 (US$ Million)

4.2. Global e-KYB Market, By Delivery Model, 2020 to 2021 (US$ Million)

4.3. Global e-KYB Market, By End-user, 2020 to 2021 (US$ Million)

4.4. Global e-KYB Market, By Region, 2020 to 2021 (US$ Million)

5. Global e-KYB Market Estimates & Forecast Trend Analysis, by Delivery Model

5.1. Global e-KYB Market Share (%) Estimates and Forecasts, by Delivery Model, 2022 & 2033

5.2. Global e-KYB Market Revenue (US$ Million) Estimates and Forecasts, by Delivery Model, 2022 to 2033

5.2.1. Cloud-based

5.2.2. On-premise

6. Global e-KYB Market Estimates & Forecast Trend Analysis, by End-user

6.1. Global e-KYB Market Share (%) Estimates and Forecasts, by End-user, 2022 & 2033

6.2. Global e-KYB Market Revenue (US$ Million) Estimates and Forecasts, by End-user, 2022 to 2033

6.2.1. Banks

6.2.2. Financial Institution

6.2.3. E- Payment Service Provider

6.2.4. Telecom Companies

6.2.5. Government entities

6.2.6. Insurance Companies

7. Global e-KYB Market Analysis and Forecast, by Region

7.1. Global e-KYB Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033

7.2. Global e-KYB Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033

7.2.1. North America

7.2.2. Europe

7.2.3. Asia Pacific

7.2.4. Middle East and Africa

7.2.5. Latin America

8. North America e-KYB Market: Estimates & Forecast Trend Analysis

8.1. North America e-KYB Market Assessments & Key Findings

8.2. North America e-KYB Market Share (%) Estimates and Forecasts, 2022 & 2033

8.3. North America e-KYB Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

8.3.1. By Delivery Model

8.3.2. By End-user

8.3.3. By Major Country The U.S. Canada

9. Europe e-KYB Market: Estimates & Forecast Trend Analysis

9.1. Europe e-KYB Market Assessments & Key Findings

9.2. Europe e-KYB Market Share (%) Estimates and Forecasts, 2022 & 2033

9.3. Europe e-KYB Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

9.3.1. By Delivery Model

9.3.2. By End-user

9.3.3. By Major Country Germany The U.K. France Italy Spain Rest of Europe (includes all other European countries)

10. Asia Pacific e-KYB Market: Estimates & Forecast Trend Analysis

10.1. Asia Pacific e-KYB Market Assessments & Key Findings

10.2. Asia Pacific e-KYB Market Share (%) Estimates and Forecasts, 2022 & 2033

10.3. Asia Pacific e-KYB Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

10.3.1. By Delivery Model

10.3.2. By End-user

10.3.3. By Major Country China Japan India ASEAN South Korea Rest of Asia Pacific (includes all other Asia Pacific countries)

11. Middle East & Africa e-KYB Market: Estimates & Forecast Trend Analysis

11.1. Middle East & Africa e-KYB Market Assessments & Key Findings

11.2. Middle East & Africa e-KYB Market Share (%) Estimates and Forecasts, 2022 & 2033

11.3. Middle East & Africa e-KYB Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

11.3.1. By Delivery Model

11.3.2. By End-user

11.3.3. By Major Country GCC South Africa Egypt Rest of Middle East & Africa (includes all other Middle East & Africa countries)

12. Latin America e-KYB Market: Estimates & Forecast Trend Analysis

12.1. Latin America Market Assessments & Key Findings

12.2. Latin America e-KYB Market Share (%) Estimates and Forecasts, 2022 & 2033

12.3. Latin America e-KYB Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

12.3.1. By Delivery Model

12.3.2. By End-user

12.3.3. By Major Country Brazil Mexico Rest of Latin America (includes all other Latin America countries)

13. Competitive Landscape

13.1. e-KYB Market Revenue Share Analysis (%), by Major Players (2021)

13.2. e-KYB Market Competition Matrix, by Leading Players

13.3. e-KYB List of Emerging, Prominent and Leading Players

13.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.

14. Company Profiles

14.1. TruNarrative

14.1.1. Company Overview & Insights

14.1.2. Financial Performance

14.1.3. Product / Service Portfolio

14.1.4. Geographical Footprint & Share

14.1.5. Strategic Initiatives & Key Developments

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

14.2. Trulioo

14.3. Jumio

14.4. IDnow

14.5. Onfido

14.6. Shufti Pro

14.7. others

15. Assumptions and Research Methodology

15.1. Data Mining

15.2. Secondary Research

15.3. Primary Research

15.4. Subject Matter Expert Advice

15.5. Quality Check

15.6. Final Review

15.7. Data Triangulation

15.8. Bottom-Up Approach

15.9. Top Down Approach

15.10. Research Flow

15.11. Key Insights from Industry Experts

15.12. Data Sources

15.13. Assumptions

15.14. Limitations

16. Conclusions and Recommendations

16.1. Key Research Findings and Conclusion

16.2. Key Insights & Recommendations from Analysts

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).


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The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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