Global Address Verification Software Market Overview And Statistics For 2024-2033

The Business Research Company's Address Verification Software Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 2, 2024 /EINPresswire.com/ -- The address verification software market has experienced robust growth in recent years, expanding 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.

Strong Future Growth Anticipated
The address verification software market is projected to continue its strong growth, reaching $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.

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Growth Driver Of The Address Verification Software Market
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.

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Major Players And Market Trends
Key players in the address verification software market include Rakuten Inc., Stripe Inc., Experian PLC, Pitney Bowes Inc., GB Group PLC, SmartSoft Inc., Ekata Inc., Melissa Data Corporation.
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.

Segments:
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

Geographical Insights: North America Leading The Market
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

Address Verification Software Market Definition
Address verification software is a technology that validates and corrects postal addresses entered by users, ensuring accuracy and completeness. It helps businesses enhance delivery efficiency and customer communication by ensuring reliable address data.

Address Verification Software Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Address Verification Software Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on address verification software market size, address verification software market drivers and trends, address verification software market major players, address verification software competitors' revenues, address verification software market positioning, and address verification software market growth across geographies. The address verification software market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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