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Identity Theft Protection Services Market - By Type (Credit card fraud, Bank fraud, Phone or utility fraud, Employment or tax-related fraud, etc.), By Application (Consumers, Enterprises, etc.), By End-user (Individuals, Businesses), By Pricing (Freemium, Subscription-based, Pay-per-use, etc.), By Service (Monitoring, Restoration, Prevention, etc.), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030
Identity Theft Protection Services Market Overview:
The global identity theft protection services market size is projected to reach USD 33.35 billion by 2030, exhibiting a CAGR of 14.2% during the forecast period, 2023-2030. The increasing number of data breaches and fraud cases, the growing awareness of identity theft, and the increasing use of online services are the key factors driving the growth of the market. Identity theft is a significant concern in today's digital age, as more and more personal information is stored online and accessible to cybercriminals. Identity theft protection services emerged as a response to this growing threat, aiming to safeguard individuals and organizations from falling victim to identity theft and related fraud.
The identity theft protection services market has witnessed substantial growth in recent years due to the increasing frequency of data breaches and cyberattacks. Consumers and businesses alike have become more aware of the risks and the need for proactive measures to protect sensitive information. Consumer and enterprise segments both contribute to the growth of the market. Consumers seek to protect their personal information, while businesses recognize the importance of safeguarding their employees' data and sensitive company information.
While identity theft protection services can be effective in mitigating risks, they are not foolproof. Cybercriminals continue to find sophisticated ways to breach security measures, making it a constant challenge for service providers to stay ahead of emerging threats. Additionally, the increasing awareness of data privacy concerns has also led to some skepticism about how data is handled and stored by these service providers, leading to a call for greater transparency and accountability. Overall, the identity theft protection services market has been growing steadily as the need for digital security and privacy protection continues to rise. As new technologies and regulations emerge, the market is likely to evolve to meet the changing demands of individuals and businesses seeking effective solutions against identity theft.
Market Snapshot:
Identity Theft Protection Services Market - Report Coverage:
The “Identity Theft Protection Services Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Identity theft protection services Market.
Identity Theft Protection Services Market - Top Trends
The increasing number of data breaches and fraud cases: The number of data breaches and fraud cases has been increasing in recent years. This is due to the growing number of online transactions and the increasing sophistication of cybercriminals. The growing awareness of identity theft: The awareness of identity theft has been growing in recent years. This is due to the increasing number of data breaches and fraud cases, as well as the media coverage of these cases.
The growing awareness of identity theft: The awareness of
identity theft has been growing in recent years. This is due to the increasing
number of data breaches and fraud cases, as well as the media coverage of these
cases.
The increasing use of online services: The use of online services has been increasing in recent years. This is due to the convenience and accessibility of online services. However, the increasing use of online services also increases the risk of identity theft.
The rising adoption of mobile devices: The adoption of mobile devices has been increasing in recent years. This is due to the convenience and portability of mobile devices. However, the increasing use of mobile devices also increases the risk of identity theft.
The growing demand for personalized services: Consumers is increasingly demanding personalized services that meet their specific needs. This is driving the demand for identity theft protection services that offer a variety of features and benefits.
The increasing focus on preventive measures: Businesses are increasingly focusing on preventive measures to protect their customers from identity theft. This is driving the demand for identity theft protection services that offer a variety of preventive measures.
The Identity Theft Protection Services Market - Company Analysis
The identity theft protection services market is highly competitive, with a number of major players vying for market share. The following are some of the key players in the market:
LifeLock (now Norton LifeLock): LifeLock is one of the most prominent and well-known identity theft protection companies. They offer a comprehensive suite of services, including credit monitoring, dark web monitoring, identity restoration assistance, and reimbursement for stolen funds. LifeLock has established a strong reputation for its proactive approach to identity protection and robust customer support.
IdentityForce: IdentityForce is another significant player in the identity theft protection market. They provide a range of services, including credit monitoring, social media identity monitoring, and identity restoration assistance. IdentityForce has earned praise for its real-time alerts and thorough monitoring capabilities.
Identity Guard: Identity Guard offers a variety of identity theft protection services, including credit monitoring, dark web monitoring, and public records monitoring. They also provide a risk management score to help individuals understand their vulnerability to identity theft. Identity Guard is known for its user-friendly interface and personalized risk assessment.
Experian Identity Works: Experian, one of the major credit bureaus, offers identity theft protection services through Identity Works. Their services include credit monitoring, identity restoration support, and up to $1 million in identity theft insurance. As a well-established credit bureau, Experian brings its extensive data resources to provide comprehensive identity protection.
TransUnion: TransUnion is another major credit bureau that offers identity theft protection services. Their True Identity program provides credit monitoring, identity restoration, and up to $1 million in identity theft insurance. Being a credit bureau, TransUnion leverages its vast credit data to enhance identity protection services.
McAfee Identity Theft Protection: McAfee, a well-known cybersecurity company, also offers identity theft protection services. Their services include credit monitoring, social security number trace, and change of address monitoring. McAfee's brand recognition in the cybersecurity space adds to the credibility of its identity protection offerings.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies players in the Identity Theft Protection Services Market adopt. The top 10 companies in Identity Theft Protection Services Market are listed below:
1. Norton LifeLock.
2. Experian.
3. TransUnion.
4. LifeLock.
5. IdentityForce.
6. AllClearID.
7. FICO.
8. McAfee.
9. LexisNexis Risk Solutions.
10. Affinion Group.
Scope of the Report:
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1. Identity Theft Protection Services Market Overview
1.1 Definitions and Scope
2. Identity Theft Protection Services Market – Executive Summary
3. Identity Theft Protection Services Market – Market Landscape
3.1 Company Benchmarking – Key Companies
3.2 Key Company Financial Analysis
3.3 Market Share Analysis – Key Companies
3.4 Patent Analysis
3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Identity Theft Protection Services Market – Startup Company Scenario
4.1 Investment
4.2 Revenue
4.3 Venture Capital and Funding Scenario
5. Identity Theft Protection Services Market – Market Entry Scenario Premium
5.1 Regulatory Scenario
5.2 New Business and Ease of Doing business index
5.3 Case Studies of Successful Ventures
6. Identity Theft Protection Services Market – Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porter’s Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Customers
6.3.3 Threat of New Entrants
6.3.4 Rivalry Among Existing Players
6.3.5 Threat of Substitutes
7. Identity Theft Protection Services Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle Analysis
8. Identity Theft Protection Services Market – By Type (Market Size - $Million/$Billion)
8.1 Credit card fraud
8.1.1 Market Trends by Region
8.1.2. Market Share & Forecast by Region
8.2 Bank fraud
8.2.1 Market Trends by Region
8.2.2 Market Share & Forecast by Region
8.3 Phone or utility fraud
8.3.1 Market Trends by Region
8.3.2 Market Share & Forecast by Region
8.4 Employment or tax-related fraud
8.4.1 Market Trends by Region
8.4.2 Market Share & Forecast by Region
8.5 Others
9 Identity Theft Protection Services Market – by Application (Market Size - $Million/$Billion)
9.1 Consumers
9.1.1 Market Share & Forecast by Region
9.1.2 Market Share & Forecast by Region
9.2 Enterprises
9.2.1 Market Trends by Region
9.2.2 Market Share & Forecast by Region
9.3 Others
10 Identity Theft Protection Services Market – by End-user (Market Size - $Million/$Billion)
10.1 Individuals
10.1.1 Market Trends by Region
10.1.2 Market Share & Forecast by Region
10.2 Businesses
10.2.1 Market Trends by Region
10.2.2 Market Share & Forecast by Region
11 Identity Theft Protection Services Market – by Pricing (Market Size - $Million/$Billion)
11.1 Freemium
11.1.1 Market Trends by Region
11.1.2 Market Share & Forecast by Region
11.2 Subscription-based
11.2.1 Market Trends by Region
11.2.2 Market Share & Forecast by Region
11.3 Pay-per-use
11.3.1 Market Trends by Region
11.3.2 Market Share & Forecast by Region
12 Identity Theft Protection Services Market – by Service (Market Size - $Million/$Billion)
12.1 Monitoring
12.1.1 Market Trends by Region
12.1.2 Market Share & Forecast by Region
12.2 Restoration
12.2.1 Market Trends by Region
12.2.2 Market Share & Forecast by Region
12.3 Prevention
12.3.1 Market Trends by Region
12.3.2 Market Share & Forecast by Region
13 Identity Theft Protection Services Market – by Geography (Market Size - $Million/$Billion)
13.1 North America
13.1.1 U.S.
13.1.2 Canada
13.1.3 Mexico
13.2 Europe
13.2.1 Germany
13.2.2 France
13.2.3 U.K.
13.2.4 Italy
13.2.5 Spain
13.2.6 Russia
13.2.7 Rest of Europe
13.3 Asia-Pacific
13.3.1 China
13.3.2 Japan
13.3.3 South Korea
13.3.4 India
13.3.5 Australia & New Zealand
13.3.6 Rest of Asia-Pacific
13.4 South America
13.4.1 Brazil
13.4.2 Argentina
13.4.3 Chile
13.4.4 Colombia
13.4.5 Rest of South America
13.5 Rest of the World
13.5.1 Middle East
13.5.2 Africa
14 Identity Theft Protection Services Market – Market Entropy
14.1 New product launches
14.2 M&A’s, collaborations, JVs and partnerships
15 Identity Theft Protection Services Market – Industry Competition Landscape
15.1 Market Share Analysis
15.1.1 Market Share by Technology – Key Companies
15.1.2 Market Share by Country – Key Companies
15.1.3 Market Share by Region – Key Companies
15.2 Competition Matrix
15.3 Best Practices for Companies
16 Identity Theft Protection Services Market – Key Company List by Country Premium
17 Identity Theft Protection Services Market – Company Analysis
17.1 Norton LifeLock (Symantec).
17.2 Experian.
17.3 TransUnion.
17.4 LifeLock.
17.5 IdentityForce.
17.6 AllClearID.
17.7 FICO.
17.8 McAfee.
17.9 LexisNexis Risk Solutions.
17.10 Affinion Group.
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The Identity Theft Protection Services Market is forecast to grow at 14.2% during the forecast period 2023-2030.
The Global Identity Theft Protection Services Market size is estimated to be USD 13.13 billion in 2023 and is projected to reach USD 33.35 billion by 2030.
The leading players in the Identity Theft Protection Services Market are NortonLifeLock, Experian, TransUnion, LifeLock., IdentityForce and others.