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

One of the main criticisms of age verification is that they can be easily bypassed or falsified. Many online platforms rely on self-reporting of age, which can easily be manipulated by minors looking to access restricted content. Even more sophisticated age verification systems, such as requiring users to input credit card information, can be circumvented by savvy individuals.

Additionally, age verification systems often place a burden on both users and businesses. Users may be required to provide personal information that they are uncomfortable sharing, leading to decreased trust in the platform or service. Businesses, on the other hand, may face additional costs and technical challenges in implementing and maintaining age verification systems.

Another concern surrounding age verification is the potential for discrimination or exclusion. Age verification systems may inadvertently prevent legitimate users from accessing content based on factors such as geography, lack of identification, or technological barriers. This can be particularly concerning when it leads to censorship or limits on users’ freedom of expression.

Despite these criticisms, proponents of age verification argue that it is an essential tool for safeguarding minors from harmful content and protecting vulnerable individuals from exploitation. Age verification systems can serve as a barrier to underage access to explicit material, gambling websites, or potentially harmful products. In this sense, age verification is seen as a crucial measure for upholding societal values and protecting the well-being of individuals.

Ultimately, the effectiveness of age verification systems may depend on the context in which they are implemented. While some platforms may benefit from stricter age verification measures, others may find them unnecessary or overly restrictive. Balancing the need to protect minors with users’ rights to access information and services is a complex and ongoing challenge that requires careful consideration and collaboration among stakeholders.

In conclusion, the debate over the usefulness of age verification is far from settled. While age verification systems have the potential to protect individuals from harmful content and exploitation, there are legitimate concerns about their effectiveness, practicality, and potential drawbacks. Moving forward, it will be important to continue evaluating and refining age verification systems to strike a balance between protecting vulnerable individuals and upholding users’ rights and freedoms.

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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