Global Identity Theft Protection Services Market Size was valued at USD 4.98 billion in 2017 and is expected to reach USD 18.70 billion by 2025, owing to increasing internet penetration and its associated malware and virus attacks by hackers.
The Global Identity Theft Protection Service Market Size report provides a detailed analysis of the market including definition, application, industry chain structure, and classification. The report also focuses on global key leading industry vendors with information such as business profiles, product and specifications, market share, sales, and contact information. This report provides market development trends and different marketing channels are analyzed.
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Global identity theft protection services market size is estimated to rise from USD 4.98 billion to USD USD 18.70 at a CAGR of xx%, over the forecast period. Increasing e-commerce segment, digitization of government records, and online payment has made data security and privacy more susceptible. Identity theft safety services market is vastly governed by the steadily growing occurrences of identity thefts across the globe. Likewise, growing preference towards online payment is another major factor contributing to the global identity theft protection services market growth. Owing to rising internet users along with huge adoption of digital payment services, the market would witness capable growth during the forecast period.
The market is rising rapidly and with growth in technological advancements, M&A activities and competition in the business number of local and regional manufacturers are offering precise application products for wide-ranging end-users. This market is highly competitive due to players offering products and services superior comparable, or at lesser prices. Rapidly increasing online payment mode across the globe is one of the major factor driving the global identity theft protection services market. With booming e-commerce segment, the online payment has witnessed huge growth during the forecast period. Factors such as rising internet usage and e-commerce services driving the market growth.
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In terms of geography, the United States market represents the maximum number of identity theft cases across the globe. Likewise, the Asia Pacific is set to record the highest global identity theft protection services market growth rate over the forecast period. Due to the rising adoption of online payment mode in the region. The huge growth of internet penetration in the Asia Pacific region, countries such as India, China, and Japan and India has also accompanied by substantial surges in identity theft.
The global identity theft protection services market has been segmented on the basis of type, application, and region. In terms of type, the market is sub-segmented into phone & utility, bank fraud, credit card fraud, employment & tax, and others. Among these, the bank fraud segment was accounted US$ 856.7 million and it is expected to continue to grow at a highest CAGR during the forecast period. By application, this market categorized as enterprise service and consumer service. On the basis of region, the market is classified into Europe, North America, Asia Pacific, and Rest of the world.
The report classifies leading players such as Experian Plc., LifeLock, Inc., and Equifax, Inc. as leaders with advanced product portfolios and healthy revenue tracks. Companies such as FICO and Affinion Group are classified as challengers, who have the potential to grow their revenues with technically innovative strategies.
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Key segments of the global Identity Theft Protection Services market
Theft Type Overview, 2015-2025 (USD million)
- Bank Fraud
- Phone & Utility
- Employment & Tax
- Credit Card Fraud
- Others
Application Overview, 2015-2025 (USD million)
- Consumer Service
- Enterprise Service
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