MarketResearch.biz announces publication of its most recently generated research report titled, “Global Identity Theft Protection Services Market by Identity Theft Type (Credit Card Fraud, Tax Related Fraud, Utility Fraud & Bank Fraud), By Application (Consumer & Enterprise), and Region – Global Forecast to 2028.”, which offers a holistic view of the global identity theft protection services market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2020–2024) is projected to be over US$ 23.6 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
The identity theft protection service monitors personal information in credit applications, public records, websites, vehicle license plates, etc., to prevent any unusual activity that may reveal signs of identity theft. Identity theft protection service is a preventive technology that protects bank details. It can detect signs of stolen data and help avoid damage caused by misuse of data. Generally, identity theft protection services include data monitoring, theft alert, data control and information recovery. The theft alert service will promptly notify any suspicious activity.
Global Identity Theft Protection Services Market: Market Dynamics
The increase in global digital payment and e-commerce transactions, coupled with related fraudulent activities, is expected to drive demand in the target market at an alarming rate during the forecast period. It is foreseeable that the increase in the penetration rate of Internet users will further promote the demand for the identity theft protection service market. Several governments issue electronic ID cards and necessity of security software and cybercrime preventive measures, due to such factors the market is likely to anticipate increased growth in the upcoming years.
Identity theft protection service provider does not insure consumer data from breaching, and consumers are not entitled to theft insurance, as these privacy issues may hinder the market growth.
It is expected that the digital development of developing economies in the Asia-Pacific region such as India and China will also provide participants with abundant opportunities to increase penetration in these untapped markets.
Global Identity Theft Protection Services Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global identity theft protection services market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global identity theft protection services market is estimated to expand at a moderate CAGR of 10.3% during the forecast period.
Global Identity Theft Protection Services Market: Segmental Snapshot
The market report has been segmented on the basis of identity theft type, application, and region. The type segment includes credit card fraud, tax related fraud, utility fraud & bank fraud. The application segment includes consumer & enterprise. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By identity theft type: The credit card fraud segment is expected to register a CAGR of over 10.8%, thereby accounting for highest revenue share among the identity theft type segments.
By application: The enterprise segment is expected to register a CAGR of over 10.4% over the forecast period, thereby accounting for highest revenue share among the application segments.
By region: The market in North America accounted for highest revenue share in the global identity theft protection services market in 2020, and is estimated to register a CAGR of over 10.4% between 2020 and 2028.
Global Identity Theft Protection Services Market: Competitive Analysis
The research report on the global identity theft protection services market includes profiles of major companies such as Symantec Corporation (LifeLock, Inc.), Experian plc, Equifax Inc, TransUnion, Fair Isaac Corporation (FICO), Affinion Group Holdings, Inc, RELX PLC (LexisNexis), Intersections Inc, AllClear ID, Inc.
The Global Identity Theft Protection Services Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Identity Theft Protection Services Market for 2020–2028.
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