Age Verification Statistics


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Steve Goldstein
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Age Verification Statistics 2023: Facts about Age Verification outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Age Verification, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Age Verification Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Age Verification Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 16 Age Verification Statistics on this page 🙂

Age Verification “Latest” Statistics

  • Age verification measures in the EU are intended to safeguard the 18% of the bloc’s population who are under the age of 18.[1]
  • In 87% of the situations, complete compliance was attained in retailers using remote age verification.[2]
  • The food and drug administration FDA has established 18 as the minimum age for purchasing and selling tobacco products.[3]
  • The following collection of age verification use cases in various sectors emphasizes these solutions’ significance and by the end of 2023, the eSports sector is expected to be worth more than $1.6 billion, according to estimates.[3]
  • Socure’s unrivaled identity coverage and data breadth boost compliance with up to 98% auto approvals across all age groups and demographics and unleash client growth.[4]

Age Verification “Verification” Statistics

  • 72% of online marketplaces have increased their deployment of ID verification technology during this worldwide epidemic, according to Trulioo, a supplier of global identity verification services.[5]
  • At a CAGR of 17%, the global identity verification market is anticipated to reach 177 billion in 2026.[5]
  • With a compound annual growth rate of 17.1%, the identity verification market is anticipated to increase from $8 billion in 2021 to $17.7 billion in 2026.[5]

Age Verification “Other” Statistics

  • 34% of transactions made in shops using id readers were completed accurately.[2]
  • Almost 41% of video games in the US are classified as adult and teen-rated, according to a Statista poll.[3]
  • According to Javelin Research Group, over a million adolescents were victims of online identity theft in 2017, causing a loss of $2.6 billion, of which about 540 were compensated by the families.[3]
  • Nearly 2.7 billion people play video games worldwide, and that figure is increasing rapidly, according to Newzoo.[3]
  • A report found that in 2015, over 1.46 billion people made purchases online, and by the end of 2021, that figure is projected to increase by 46%.[3]
  • According to PR Newswire, the cannabis sector is predicted to generate 73.6 million US dollars by the end of 2027.[3]
  • Due to GDPR’s strict requirements, companies who violate them might be subject to penalties of up to 4% of their annual worldwide revenue, or 225 million us dollars.[3]
  • The industry’s total revenue is now approximately 647.9 billion US dollars and is expected to grow at a pace of 5.6% starting in 2022 to 2027.[3]

Also Read

How Useful is Age Verification

The intention behind age verification is certainly noble. It is meant to protect minors from accessing age-inappropriate content and prevent them from making potentially harmful decisions online. For example, ensuring that individuals are of legal age before granting access to adult content or purchasing alcohol or tobacco products online is crucial in upholding regulatory compliance and safeguarding vulnerable populations.

However, the effectiveness of age verification tools can vary significantly, depending on how they are implemented and the resources available to maintain their accuracy. While some platforms may use advanced algorithms or verification checks to confirm an individual’s age, others may rely on self-reporting or simple checkboxes that can easily be bypassed by minors. This raises questions about the reliability and practicality of age verification systems in achieving their intended purpose.

One of the challenges with age verification is striking a balance between effectiveness and user experience. While stringent age verification processes may be more secure, they can also be cumbersome and deter individuals from participating in legitimate activities. On the other hand, lax verification methods may not be sufficient in preventing minors from accessing inappropriate content, ultimately defeating the purpose of age restrictions.

Moreover, the issue of data privacy and security cannot be overlooked when discussing age verification. Collecting and storing personal information, such as date of birth or identification documents, raises concerns about potential data breaches or misuse. Individuals may be reluctant to share sensitive information due to privacy concerns, leading to a lack of compliance with age verification requirements.

Another aspect to consider is the evolving nature of technology and the potential loopholes that can arise with existing age verification systems. As new digital platforms and services emerge, the effectiveness of current verification tools may diminish, creating opportunities for minors to circumvent age restrictions and access restricted content.

Despite these challenges, age verification remains an important tool in promoting responsible online behavior and protecting vulnerable populations. Recognizing the limitations of current verification methods, organizations must continually evaluate and improve their age verification processes to strike an effective balance between security, user experience, and privacy.

In conclusion, age verification is a valuable tool in regulating access to age-restricted content and products in the digital age. While it may not be foolproof, implementing robust verification systems and fostering a culture of compliance can help mitigate risks and promote responsible online behavior. By addressing the challenges and complexities of age verification, organizations can enhance their efforts to safeguard vulnerable populations and create a safer online environment for all users.

Reference

  1. iapp – https://iapp.org/news/a/age-verification-and-data-protection-far-more-difficult-than-it-looks/
  2. nih – https://pubmed.ncbi.nlm.nih.gov/28339552/
  3. shuftipro – https://shuftipro.com/blog/age-verification-use-cases-significance-and-regulations/
  4. socure – https://www.socure.com/
  5. globenewswire – https://www.globenewswire.com/en/news-release/2022/02/21/2388512/28124/en/Global-Identity-Verification-Market-Forecast-to-Reach-17-7-Billion-in-2026-at-a-CAGR-of-17.html
  6. aristotle – https://integrity.aristotle.com/

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