Thursday, March 30th, 2023

Identity Theft Protection Services Market 2022-2030 Future Prospects

A latest report from Absolute Markets Insights covers insights into the global Identity Theft Protection Services market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Identity Theft Protection Services market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Identity Theft Protection Services report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Identity Theft Protection Services report also shows a new uptrend that includes market conditions and market forecast 2022-2030.

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Some of the major players operating in the global Identity Theft Protection Services market include: Europ Assistance USA, Inc., Experian Information Solutions, Inc., ID Watchdog, IDENTITY FRAUD, INC., IdentityForce, Inc., IdentityIQ, Symantec Corporation, TransUnion LLC, Trilegiant Corporation, amongst others.

Global identity theft protection services market was valued at US$ 5156.96 million in 2022 and is expected to reach US$ 8522.07 million by 2030, growing at an estimated CAGR of 5.8% over the forecast period.

The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.

Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Identity Theft Protection Services Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.

Key insights from the report:

  • The report provides key statistics on the market status of Identity Theft Protection Services Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
  • The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
  • The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
  • The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
  • The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
  • Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
  • The report makes some important proposals for a new project of Identity Theft Protection Services Market before evaluating its feasibility.

Covid-19 cumulative impact:

This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Identity Theft Protection Services Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Identity Theft Protection Services Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.

Key questions answered in this report:

  • What will the market size and growth rate be in 2030?
  • What are the key drivers of the global market?
  • What are the key market trends impacting the growth of the global market?
  • What are the market growth challenges?
  • Who are the key vendors in the global market?
  • What are the global market opportunities and challenges for sellers?
  • What are the key findings of the global five-point analysis of the Identity Theft Protection Services market?

Identity theft protection services aims towards protecting individuals and enterprises from having their personal information stolen. Identity theft can occur at an organization level, where large amounts of sensitive personal information are stored or, in an individual level wherein, they are tricked to share their own or others sensitive data. The two types consists of monitoring services and recovery services. The former type use certain technologies to protect personal information by monitoring the public and private records. On the other hand, the latter one is mainly designed to control the impacts of identity theft in the aftermath.

Rising cases of identity theft due to mass proliferation of internet is expected to boost the identity theft protection services market. Due to high exposure of internet and mass usage of social media sites, personal information is circulated widely. This gives an opportunity to the fraudsters to misuse such information. These fraudsters use someone else’s identity or information such as education qualification, financial detail, photographs, and credentials amongst others. Identity theft is becoming a problem in developed as well as developing nations as the fraudsters discover new way to get information, thus increasing the demand of identity theft protection services.

In 2018, the Starwood Marriott breach compromised the personal information of more than 380 million guests which included over 5 million passport numbers. In 2016, the United States accounted for more than US$ 10 million identity fraud cases, in which identity theft victims lost more than US$ 15 million. As the internet services are growing worldwide, public records consisting of motor vehicle records, court files, business licenses, property details and others are posted on government websites, making them vulnerable to data breach. Growing emphasis by government towards issuing electronic ID’s will assist the global identity theft and data breach Identity Theft protection Services Market over the future years.

An identity theft protection service provider does not actually protect against identity theft but these services merely alert the end users if they catch something. Also, free services are available as an alternative to the paid services. Such a factor is expected to critically impact the global industry. Moreover, increasing government initiatives towards identity theft protection is expected to boost the Identity Theft protection Services Market in future. This is done through awareness drives and campaigns, furthermore governments are helping the victims of identity theft with swift judicial and correctional procedures. Governments across the world have also appealed to private companies for collaborative efforts which would help in limiting instances of identity theft in the future.

Based on fraud type the Identity Theft protection Services Market is segmented into bank fraud, phone and utility, employment and tax, credit card fraud and others. There are rising cases of bank frauds. These frauds occur when the fraudsters gain access to bank or credit card accounts, usually because of data breach, phishing scams or malware attack. Bank frauds are generally frauds related to loans, debit card, account information amongst others. These frauds can be reduced by with the help of identity theft protection services.

North America held the largest Identity Theft protection Services Market share in 2018 in the identity theft protection services market and is expected to continue the same trend over the next eight years. As the penetration of identity theft in this region is very high, this provides considerable opportunities for the identity theft protection service vendors.

In November, 2018, EZShield, one of the leaders in digital identity protection and resolution announced a breakthrough in protection Mobile Threat Defense through Mobile Defense Suite and Personally Identifiable Information (PII). Mobile devices are possible gateway to identity theft and corporate data breaches. The company is also extending the value of ID theft protection to IT and InfoSec teams. The Mobile Defense Suite provides compact visibility into mobile devices accessing the network for both individuals and enterprises.

Global Identity Theft Protection Services Market Segmentation:

Identity Theft Protection Services Market By Theft Type (Bank Fraud, Phone And Utility, Employment And Tax, Credit Card Fraud, And Others), By Application (Consumer And Enterprise), By Region (U.S., Canada, Mexico, Rest Of North America, France, UK, Germany, Spain, Italy, Nordic Countries, Benelux Union, Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest Of Asia Pacific, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of MEA, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030

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