Address Verification Software Market Outlook 2024-2033: Trends and Projections
Address Verification Software Market Expansion 2024-2033: Growth Drivers and Dynamics
Global Address Verification Software Market Analysis 2024: Size Forecast and Growth Prospects
Address Verification Software Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies
Global Address Verification Software Market Overview 2024: Size, Growth Rate, and Segments
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The address verification software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Address Verification Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The address verification software market size has grown strongly in recent years. It will grow from $1.59 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to customer experience enhancement, fraud prevention measures, efficiency in mail and shipping services, reduction in failed deliveries, integration in crm and erp systems..
The address verification software market size is expected to see strong growth in the next few years. It will grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to remote work and virtual services, ai and machine learning integration, expansion in healthcare and finance, focus on data accuracy and quality, rapid urbanization and address changes.. Major trends in the forecast period include focus on user experience, industry-specific solutions, address verification for iot, blockchain for data security, geocoding and location intelligence..
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Scope Of Address Verification Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Address Verification Software Market Overview
Market Drivers –
The increasing travel and tourism industries are expected to propel the growth of the address verification software market going forward. Travel and tourism encompass the activities of individuals or groups traveling away from their usual residence for leisure, exploration, business, or other purposes. Address verification software is employed in the travel and tourism industries to enhance booking accuracy and streamline customer communications by ensuring precise address details for reservations and travel itineraries. For instance, in May 2023, according to the United Nations World Tourism Organization, a Spain-based specialized agency of the United Nations, an estimated 235 million tourists traveled internationally in the first three months of 2023, more than double the same period of 2022. Furthermore, in June 2022, according to the US Department of Commerce, a US-based administration, the number of international visitors to the United States increased to 22.1 million in 2021, up from 19.2 million in 2020. Therefore, the increasing travel and tourism industries are driving the growth of the address verification software market.
Market Trends –
Major companies operating in the address verification software market are focused on developing innovative technologies, such as application program interfaces (API), to gain a competitive edge in the market. An application programming interface (API) refers to a software element that acts as a bridge between two separate programs. For instance, in March 2021, the Universal Postal Union, a Switzerland-based agency of the United Nations that coordinates postal policies, launched a new address verification application program interface (API) created exclusively for the postal sector and its partners to ensure the accuracy of address data for reliable deliveries. The UPU’s S42 international postal address components and templates standard (ISO 19160-4), which was developed, served as the foundation for the API. In addition to comparing address components to the POST*CODE DataBase, it also performs checks against derivative databases, including postal addressing systems, the description of the standardized address format, and knowledge center data, including postcode length and structure.
The address verification software market covered in this report is segmented –
1) By Product Type: Cloud Based, On-Premise
2) By Subscription Type: One Time License, Monthly, Quarterly, Yearly
3) By Device Used: Personal Computer, Laptops, Smartphones, Other Devices
4) By Application: Large Enterprises, Small And Medium Size Enterprises
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Regional Insights –
North America was the largest region in the address verification software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the address verification software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the address verification software market report are Rakuten Inc., Stripe Inc., Experian PLC, Pitney Bowes Inc., GB Group PLC, SmartSoft Inc., Ekata Inc., Melissa Data Corporation, Simpler Postage Inc., BCC Software LLC, TrueNorth Credit Solutions LLC, DQE Software SAS, Strikeiron LLC, Datatech SmartSoft Software Inc., Data8 Limited, AccuZIP Inc., Acme Associates Pte. Ltd., Anchor Software LLC, Byteplant Technologies Private Limited, ComplyCube Ltd., DataMatch Software Inc., Global-Z International Inc., PostGrid Inc., SmartyStreets LLC, WinPure Ltd., Woosmap SAS, Prism Data Services Inc., Addressy Inc., Egon
Table of Contents
1. Executive Summary
2. Address Verification Software Market Report Structure
3. Address Verification Software Market Trends And Strategies
4. Address Verification Software Market – Macro Economic Scenario
5. Address Verification Software Market Size And Growth
…..
27. Address Verification Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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