At a CAGR of 14.8%, identity theft protection services market to

Dallas, Texas, September 20, 2022 (GLOBE NEWSWIRE) – Global Identity Theft Protection Services Market It is expected to increase from $11.40 billion to $28.91 billion in 2029, with an expected compound annual growth rate of 14.8%.

The growing threat associated with cyber security is one of the primary drivers for the growth of the global identity theft protection services market. The demand for excellent protection against identity theft is increasing as organizations move to online platforms and benefit from these services. The adoption of anti-theft protection services can also be facilitated by the increase in identity theft in the public and government sectors. These elements can contribute to the expansion of the global market for identity theft protection services over the forecast period.

The ease and speed of Internet services is expected to increase consumer uptake of the product. It enables banks to expand their value-based offerings and improve customer experiences. However, the increasing potential for fraud has made identity theft protection services essential. Services that protect against identity theft aim to help people prevent theft and unauthorized use of their personal information. These services frequently provide features such as identity theft insurance, credit monitoring, and fraud warnings. Some companies may offer support to recover your identity after identity theft.

Global Identity Theft Protection Services Market Scope:

metrics details
The study period 2019-2029
Market size in 2029 28.91 billion US dollars
covered part By type, by application, by region,
According to the type covered Employment or tax-related fraud, credit card fraud, utility or telephone fraud, bank fraud
Through the covered app Enterprise and consumer
Covered areas North America, Europe, Asia Pacific, Middle East, Africa and South America
Key players at a glance McAfee, Fair Isaac Corporation, Kroll, AllClearID, LexisNexis Risk Solution, Malwarebytes, TransUnion LLC, NortonLifeLock, Equifax

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The Identity Theft Protection Service monitors personal data in credit apps, public records, websites, license plates, and other places for unusual behavior that may indicate identity theft. A protective technology called Identity Theft Protection Service protects banking information. Data theft as well as data misuse can be prevented with these solutions. Identity theft prevention services often include data monitoring, theft warning, data control, and information retrieval. Any unusual activity will be immediately reported to the agency providing theft alerts. Consumers are not eligible for theft insurance, and identity theft protection service providers do not cover customer data from breaches because such privacy concerns may restrict market expansion.

The credit card fraud segment has the largest market share due to the high number of credit card users. During the forecast period, the bank fraud category is expected to grow at the fastest pace due to speed and convenience-driven financial activities. Additionally, scammers have been exploiting utility users by taking advantage of high phone and energy prices to steal money and personal data. The recruitment and tax fraud industry is expected to grow exponentially due to the significant increase in identity theft associated with reward and loyalty programs as well as pension funds.

The North American region captured 30% of the market in 2020. North America has a dominant position in the identity theft protection services industry as an e-commerce region, and it is rapidly expanding and adding new online accounts. Recently, the US government has taken steps to combat identity theft, including the BuySecure Project, a nationwide task force dedicated to doing so.

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For example, in order to secure consumers’ personal computers, Fujistu Client Computing Ltd. and McAfee, LLC in May 2021. Partnership enables fast and easy deployment of McAfee technologies to protect digital lives.

Key points from the table of contents:

1 Introduction
2. Research Methodology
3. Market outlook
4. Identity Theft Protection Services Market, by Type, 2019-2029 (US$ Billion)
5. Identity Theft Protection Services Market by Application, 2019-2029 (US$ Billion)
6. Identity Theft Protection Services Market by Region, 2019-2029 (US$ Billion)
7. Competitive landscape
8. Company Profiles
9. Appendix

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