Identity Theft Protection Services Market is Estimated to Reach USD 24 Billion by 2032

New YorkAnd January 28, 2022 /PRNewswire/ – The latest research report from Fact.MR provides detailed information on the key factors influencing the growth of the global identity theft protection services market. It offers valuable insights about analyzing different segments of the global Identity Theft Protection Services market. For the purpose of the study, the market has been segmented by type, region, and end-use industry.

The global identity theft protection services market is estimated at 10 billion US dollars In 2022 it is expected to exceed 24 billion US dollars By 2032, at a compound annual growth rate of 9.4% During 2022-2032. It is estimated that the global identity theft protection services market has an absolute dollar opportunity 14 billion US dollars During the evaluation period 2022-2032.

Identity theft technology is escalating at a rapid pace to prevent financial losses for individuals and businesses. Multiple factors such as the digitization of government records, the growing trend towards online payments, and the growing e-commerce sector have made security and privacy more vulnerable which is driving the growth of this market.

Theft of sensitive personal information such as address, bank account numbers, social security numbers, passwords, etc. used by fraudsters increases the demand for anti-theft tools. Identity theft protection services are one of the fastest growing financial crimes, and the risks of cyber attacks and other similar threats to organizations are on the rise due to the sudden rise in communications and corporate digitization.

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Monitoring services that help monitor unauthorized use of personal information and recovery services that deal with the cascading effects of post-identity theft are expected to increase the growth of the identity theft protection services market by ~ 23% in the next half decade.

Ransomware, phishing and spam attacks have seen a rapid increase during COVID-19, as cybercriminals have targeted employees and customers, according to Deloitte. These cases have had a positive impact on the identity theft protection services market 1.2X.

Report attributes

details

Base year value (2021A)

9 billion US dollars

Estimated value year (2022 AH)

10 billion US dollars

Expected year value (2032F)

24 billion US dollars

Global Growth Rate (2022-2032)

9.4%

Top 5 largest market share companies in 2021

~21%

The main takeaway:

  • It is estimated that the global identity theft protection services market has an absolute dollar opportunity 14 billion US dollars.
  • The identity theft protection services market is expected to witness significant growth in 9.4% Compound annual growth rate during 2022-2032.

Growth Engines:

  • Consumers and organizations are using data protection software and deploying Network Access Control (NAC) across their organizations, driving demand.
  • Intense focus on electronic identifiers by the global government, the current market size is likely to multiply by 1.3 times the current market assessment in the forecast period (2022-2032).

Key Constraints:

  • Identity theft protection services depend on which services are chosen which are very expensive.
  • These services may range from 10 USD to 30 USD per month and may not cover legal expenses and time spent away.

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Competitive scene

Major manufacturers are constantly innovating product designs to meet the modern day challenges of placing components in the engine environment.

  • In 2020, the identity security service provider has partnered with Breach Clarity, a financial technology provider to provide services against data breaches and identity vulnerabilities with unprecedented personal intrusion risk intelligence.
  • The insurance and financial services company, Nationwide, partnered with Generali Global Assistance in 2020 to provide personal electronic protection services under the Anti-Theft Program. It will help protect nationwide users from cybersecurity attacks and threats.
  • Connecticut The largest business organization, CBIA in partnership with defense-id, Inc. In 2020, to offer identity theft protection and recovery solutions to small businesses.

About the main companies:

  • Lifelock Company
  • Experian Information Solutions, Inc.
  • Equifax Company
  • Affinion Group
  • I
  • LexisNexis Risk Solutions Inc.
  • TransUnion LLC
  • intersection company
  • AllClear ID Inc.
  • Isaac Company Exhibition
  • IdentityForce, Inc.
  • identity guard
  • privacy guard
  • Cyberscout, LLC
  • Kroll

More valuable insights about Identity Theft Protection Services Market:

Fact.MR provides an unbiased analysis of the identity theft protection services market, and provides forecast statistics for the period 2022-2032. The study reveals compelling insights into the Identity Theft Protection Services Market, which is a detailed segmentation based on:

fragmentation Identity Theft Protection Services Market:

  • By type:
    • Credit card fraud
    • Employment and tax fraud
    • Telephone or utility fraud
    • band scam
  • As per end use:
  • By region:
    • North America
    • Latin america
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • Mine

The main questions addressed in Identity Theft Protection Services Market Report:

  • The report provides an insight into the identity theft protection services market for the period 2022-2032.
  • The market study also highlights the expected sales growth of the identity theft protection services market between 2022 and 2032.
  • The Identity Theft Protection Services Market survey identifies the key growth drivers, restraints, and other forces influencing the prevailing trends, and assesses the current market size, forecast, and technological advancement within the industry.
  • Identity Theft Protection Services market share analysis of the key companies in the industry covering strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, and others.

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