Are you looking to add Age Verification to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Age Verification statistics of 2024.
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How much of an impact will Age Verification have on your day-to-day? or the day-to-day of your business? Should you invest in Age Verification? We will answer all your Age Verification related questions here.
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On this page, you’ll learn about the following:
Best Age Verification Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 36 Age Verification Statistics on this page 🙂Age Verification Market Statistics
- The global vapes market is expected to grow at a CAGR of 15% during 2019 2024 and this means more minors would be attracted towards it. [0]
- According to Trulioo, a global identity verification provider, 72% of online marketplaces have increased their adoption of ID verification technology due to COVID. [1]
Age Verification Adoption Statistics
- According to Trulioo, a global identity verification provider, 72% of online marketplaces have increased their adoption of ID verification technology due to COVID. [1]
- Remote onboarding adoption will drive global spending on digital identity verification to $16.7 billion in 2026, according to Juniper Research, as the total number of identity verification checks more than doubles from 45 billion in 2021 to 92 billion. [2]
Age Verification Latest Statistics
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [3]
- The proportion of vendors that sold onlineonly, with no retail store, dropped significantly from 2013 (74.7%) to 2014 (64.3%) , with a corresponding significant decrease in US based vendors (71.9% in 2013 and 65% in 2014). [4]
- Most vendors did little to prevent youth access in either year, with 67.6% in 2013 and 63.2% in 2014 employing no age verification or relying exclusively on strategies that cannot effectively verify age. [4]
- According to a survey in 2015, almost 1.46 billion consumers bought goods over the internet, and the number is expected to rise by 46% by the end of 2021. [0]
- According to Javelin Research Group, more than one million minors in 2017 fell prey to online identity theft resulting in a $2.6 billion loss with almost $540 paid by the families. [0]
- According to regulations by the Food and Drug Administration , the minimum age for buying and selling of tobacco products is 18. [0]
- A study by the British Board of Film Classification shows that 82% of AO websites do not provide any type of age barrier, and 89% of them which did, allow access with just the click of a button. [0]
- To highlight the importance of age verification solutions, its use cases in different industries are listed below The eSports industry is worth 776.4 million US dollars and is estimated to top $1.6 billion with the end of 2024. [0]
- According to Newzoo, there are almost 2.7 billion gamers around the globe and the number is growing exponentially. [0]
- The total revenue of the industry is around 647.9 billion US dollars and will increase at a rate of 5.6% from 2024. [0]
- A survey by Statista shows almost 41% of video games in the US are labelled as mature and teen. [0]
- By the end of 2027, the cannabis industry is estimated to reach 73.6 million US dollars, states PR Newswire. [0]
- Comparitech in a study states that during the past year account takeover fraud on e commerce platforms grew 282%, which is a big blow to the industry in terms of fraudulent attacks. [0]
- A Customer Thermometer survey indicates 13% of consumers are willing to pay 31 50% more if they are provided with a good onboarding experience. [0]
- GDPR being rigorous in nature imposes hefty fines ranging from $22.5 million US dollars to a maximum of four per cent of the annual global income of the company. [0]
- A total of 247 expert opinions on estimated age were given between 1992 and 31 December 2000. [5]
- Age verification systems aim to protect those under 18 in the EU, which make up 18% of the bloc’s total population. [6]
- It is expected to reach USD 16.65 billion by 2026, registering a CAGR of 13.29% during the forecast period. [1]
- According to a recent TechRepublic Premium survey, 47% of the respondents plan on spending more on digital transformation in 2021 than in 2020. [1]
- In addition, in 2020, 58% of the respondents reported digitizing paper, and 45% reported adopting online training modules. [1]
- According to Jumio Corporation, under some assumptions, the total cost of ownership for online identity verification costs around USD 853,750 per year. [1]
- This initiative is in line with the digital government blueprint target to enable citizens to complete between 90% and 95% of their e government transactions without leaving their homes by 2024. [1]
- The Identity Verification Market is growing at a CAGR of 13.29% over the next 5 years. [1]
- Financial services and banking will represent 62 percent of spending on digital identity verification by 2026, according to the research. [2]
- In a recent pilot, the combined solution made registration 22 percent faster, and reduced customer drop off by 35 percent. [2]
- Remittances to Ghana were up by 5 percent to $3.6 billion last year, according to World Bank data. [2]
- Physical store closures drove retailers to online store builders, with Shopify reporting a 96% increase in Q3 of 2020 compared to 2019. [7]
- While the accelerated growth of online shopping triggered by Covid 19 is likely here to stay, so is the stiff competition. [7]
- According to a November 2020 FIDO Alliance survey of 1,000 U.S. consumers, 58% of abandoned purchases were due to the difficulty of managing passwords. [7]
- According to UNESCO , nearly 222 million children have been affected by school closures due to the pandemic. [7]
- New solutions providers meeting edtech demand have raised $4.5 billion globally in the first half of 2020, three times greater than the average six months of VC investment in the previous decade, according to HolonIQ. [7]
- Systems can be audited to demonstrate they would correctly confirm a user was over 18 99.99% of the time, if they only did this when the estimate indicated the user was over 23. [8]
I know you want to use Age Verification Software, thus we made this list of best Age Verification Software. We also wrote about how to learn Age Verification Software and how to install Age Verification Software. Recently we wrote how to uninstall Age Verification Software for newbie users. Don’t forgot to check latest Age Verification statistics of 2024.
Reference
- shuftipro – https://shuftipro.com/blog/age-verification-use-cases-significance-and-regulations/.
- mordorintelligence – https://www.mordorintelligence.com/industry-reports/identity-verification-market.
- biometricupdate – https://www.biometricupdate.com/202106/digital-identity-verification-market-forecast-to-reach-16-7b-by-2026.
- statista – https://www.statista.com/statistics/1036470/worldwide-identity-verification-market-revenue/.
- nih – https://pubmed.ncbi.nlm.nih.gov/28484040/.
- nih – https://pubmed.ncbi.nlm.nih.gov/12935635/.
- iapp – https://iapp.org/news/a/age-verification-and-data-protection-far-more-difficult-than-it-looks/.
- forbes – https://www.forbes.com/sites/forbestechcouncil/2021/03/31/three-predictions-for-digital-identity-in-2021/.
- avpassociation – https://avpassociation.com/definitions/.
How Useful is Age Verification
One of the primary reasons for age verification is to restrict access to certain goods or services to only those who are of legal age. For example, websites selling alcohol, tobacco, or adult content rely on age verification to ensure they are not selling to minors. By requiring individuals to verify their age before accessing these types of content, businesses can mitigate the risk of underage individuals accessing products meant for adults only.
Similarly, age verification is crucial in preventing minors from purchasing age-restricted products online, such as alcohol, tobacco, and lottery tickets. By implementing age verification measures at the point of sale, retailers can comply with regulations and prevent underage individuals from obtaining products that are not suitable for their age group.
Furthermore, age verification can also play a critical role in protecting children from online harms, such as exposure to inappropriate content or interactions with dangerous individuals. By verifying the age of individuals accessing certain websites or platforms, businesses can prevent minors from engaging in activities that could put them at risk.
However, despite its benefits, age verification has its limitations. For one, it is not always foolproof, as individuals can easily lie about their age or use fake identification to bypass age verification measures. This creates a challenge for businesses and organizations looking to implement effective age verification strategies and raises questions about the reliability of age verification in practice.
Additionally, age verification can also be seen as a barrier to access for those who are of legal age but do not have access to the necessary identification documents. This can prevent individuals from accessing products or services they are legally entitled to, leading to frustration and potentially lost business for organizations implementing age verification policies.
In conclusion, age verification can be a useful tool in restricting access to age-restricted products or services and protecting minors from online harm. However, it has its limitations and challenges that businesses must navigate to implement effective age verification strategies. While age verification is an important component of maintaining compliance with laws and regulations, businesses and organizations must also explore other measures to complement age verification and ensure the protection of vulnerable individuals.
In Conclusion
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