India Video-KYC Market Report

India Video-KYC Market Report, Growth, Trends, And Forecast

The India Video KYC market value  is likely to reach USD 36 85 million by the end of 2027 growing at a CAGR of 34 25 during the forecast period 2021 2027 The growth is primarily attributed to the growing applications of video KYC for the customer’s identity and customer onboarding in leveraging the digital channels for the customer identification process Additionally, surge in digital payments in India, and RBI nod for a video based customer identification process (V CIP) in India in banks, non banking financial companies, wallet service providers, and other financial entities will propel the growth of the India Video KYC market in the forecast periods.

West India dominated the Video KYC market with the highest market share is projected to reach USD 12 10 million by 2027 The region’s growth can be attributed to the major BFSI sector companies are located in this region, the presence of a large number of video KYC providers in the region and government effort to the inclusion of a vast population in the digital financial ecosystem