Liminal Report Projects $10.4 Billion Global Market for Age Assurance by 2029

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Nov 12, 2024, 13:28 ET

New Research Reveals How Businesses Can Strengthen Trust and Safety, Ensure Compliance, and Protect Minors with Seamless, Accurate Age Verification in a Growing Digital Market

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- Liminal, a technology leader in market and competitive intelligence, has released its latest report, The Market and Buyer's Guide for Age Assurance. The report forecasts the age assurance market to grow from $5.7 billion in 2025 to $10.4 billion by 2029, at a 17.3% annual growth rate. As regulatory demands around age verification intensify, Liminal's report guides businesses to find compliant, user-friendly solutions that accurately verify users' ages without compromising customer experience.

Liminal Report Projects $10.4 Billion Global Market for Assurance Solutions by 2029

"As online trust and safety concerns grow, age assurance has become essential for businesses committed to protecting young users while remaining compliant," said Filip Verley, Chief Innovation Officer at Limina l. "Our research sheds light on the complex regulatory landscape and provides actionable guidance to help companies implement effective, user-friendly solutions. Organizations that prioritize trust and safety, backed by secure and compliant age assurance, will lead the way in building safer digital environments."

The report emphasizes the rising demand for age assurance in gaming, e-commerce, and adult content sectors. Age verification is critical to compliance with regulations like the UK's Age Appropriate Design Code and GDPR. Emerging industries such as social media and video gaming also prioritize age assurance to protect children from harmful content while ensuring compliance. Age assurance solutions typically fall into two key categories: age estimation, which uses passive data signals to predict a user's age, and age verification, which confirms age through document-based or biometric methods.

With regulations expanding, businesses face pressure to adopt effective age assurance solutions to avoid significant financial penalties and protect consumer trust. However, this requires balancing compliance with minimal disruption to user experience. "Companies are challenged to find a balance between accuracy, privacy, and ease of use," Verley added. "Inadequate systems can result in user drop-off or legal risks, so striking this balance is crucial for maintaining a competitive edge."

Key Insights from the 2024 Market and Buyer's Guide for Age Assurance:

Market Growth Outpaces Awareness – Despite 17.3% annual growth, many leaders struggle to keep up with regulatory demands and available solutions, especially those integrating compliance, user experience, and fraud protection.
Balancing Accuracy and Experience – Nearly half of businesses feel forced to choose between compliance and user retention. Integrated Identity Platforms offer a way to meet both needs while safeguarding privacy.
Opportunities for Partnership – Collaborating with payment providers and big tech can drive scalable, low-friction age verification through data-driven insights.
Surging Fraud Risks – With deepfake and synthetic fraud up 3000% last year, stronger fraud prevention in age assurance has never been more essential.
Demand Spikes Across Sectors—Age assurance adoption is accelerating, with coverage in regulated sectors rising to 66% next year and unregulated to 73% next year, fueled by trust and safety, and compliance needs.
Selecting the Right Solution—The report offers practical guidance for age assurance solutions that support compliance, build trust, and enhance user experience. It focuses on the latest in age estimation and verification technology.

Liminal's Market and Buyer's Guide for Age Assurance equips business leaders to navigate regulatory complexities, optimize user experience, and stay ahead of evolving fraud risks in a fast-growing market. The report offers actionable insights on key adoption drivers, regulatory requirements, and how emerging technologies shape the future of age assurance.

Related and Upcoming Events

View the on-demand webinar, "Catching the Age Wave: Stay Ahead of the Regulatory Surge Before Typical KYC Solutions Wash You Out," where senior executives from World ID, ICO, ex-Meta, and ex-Google as they share insights on meeting age assurance requirements, balancing accuracy with user experience, and integrating data privacy.

Register for free and j oin us in San Francisco for an exclusive in-person networking event on Age Assurance. Industry leaders will discuss new challenges and opportunities in Trust and Safety.

About Liminal

Liminal is a technology company that empowers businesses with actionable market and competitive intelligence for go-to-market and sales enablement. Our state-of-the-art platform combines the precision of AI with human expertise to deliver unparalleled access to proprietary data, in-depth analysis, and curated insights, enabling executives to make informed decisions, enhance productivity, and drive growth. We tackle critical focus areas with targeted solutions for fraud and identity, cybersecurity, trust and safety, financial crimes compliance, and privacy and consent management. Trusted by industry leaders and innovators at top public and private companies and investment firms to navigate market complexities and thrive confidently and clearly. www.liminal.co

Contact:

Stacy Schulman
Liminal Media Relations
[email protected]
1 (602) 616-9818

SOURCE Liminal Strategy, Inc.