Global Identity Theft Protection Services Market Forecast 2023-2032 – Market Size, Drivers, Trends, And Competitors As Per The Business Research Company's Identity Theft Protection Services Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, June 07, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Identity Theft Protection Services Market Report 2023, the market will grow from $10.7 billion in 2022 to $11.9 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%. Further, the market will reach $18.2 billion by 2027, at a CAGR of more than 11%. North America was the largest region in the identity theft protection services market in 2022
One of the significant factors driving the growth of the identity theft protection services industry is the increasing number of fraudulent activities. Fraud involves deceiving others to gain an advantage and becomes a crime when there is intentional distortion of facts or concealment of information to cause harm. Identity theft protection services play a crucial role in monitoring personally identifiable information across various sources, such as credit applications, public records, and websites, to identify any suspicious behaviour that may indicate identity theft..
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Major identity theft protection services companies are NortonLifeLock Inc., TransUnion LLC, Experian Information Solutions Inc., LexisNexis Risk Solutions, AllClearID Inc., Kroll Inc., Fair Isaac Corporation, McAfee LLC, Identity Force Inc., Equifax Inc., Malwarebytes Ltd., Lifelock Inc., Cyberscout LLC, and Intersections Communications Inc.
Product innovation is a key trend that has gained traction in the identity theft protection services market. Leading companies in the industry are focused on developing innovative solutions to strengthen their market position.
For example, Equifax, a US-based credit bureau company, introduced Equifax Credit Monitor and Equifax Complete in July 2020. These products offer credit report monitoring, credit report locking, and identity theft protection features. Equifax's innovative solution stands out due to its cost-effectiveness, bundling unique capabilities at attractive pricing points.
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The global identity theft protection services market is segmented as -
1) By Service: Monitoring Services, Credit Monitoring, Identity Monitoring, Identity Recovery And Theft Insurance Services
2) By Type: Credit Card Fraud, Employment And Tax Related Fraud, Phone Or Utility Fraud, Bank Fraud
3) By End-Use: Consumers, Enterprises
The global identity theft protection services market report provides an in-depth analysis of the market, highlighting its projected growth and key factors influencing its development. The report serves as a valuable resource for industry professionals, stakeholders, and investors seeking to gain insights into the growth potential, market trends, and competitive landscape of the global market. Understanding the dynamics of this market is crucial for organizations operating in the field and individuals looking to safeguard their personal information, making this report an essential reference for informed decision-making and strategic planning.
Identity Theft Protection Services Global Market Report 2023 by The Business Research Company provides insights on the identity theft protection services market size, identity theft protection services market segments, identity theft protection services market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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