Global Identity Theft Protection Services Market Outlook 2028

Global Identity Theft Protection Services Market Analysis 2019-2028

Identity Theft Protection Services are the services offered to monitor personal information in credit applications, public records, and other places where personal data can be stolen. These monitoring and recovery services regularly access consumer’s credit reports and credit scores and alerts if there is any suspicious activity monitored in the account. The global identity theft protection services market is anticipated to achieve a CAGR of 13.06% during the forecast period, i.e. 2020-2028. Factors such as the increasing occurrences of cybercrime and identity thefts around the globe, backed by the growing utilization of electronic identity and other advanced technologies are anticipated to promote towards the growth of the global identity theft protection services market. Additionally, factors such as the increasing concerns for cybercrimes and identity thefts that has increased significantly in the recent years, along with the fear of misuse of these important data, which is raising the need amongst the end users to increasingly adopt identity theft protection services, are anticipated to drive the growth of the global identity theft protection services market.

The global identity theft protection services market consists of various segments that are segmented by theft type, services, end user and by region. The theft type segment is further divided into monitoring services and identity recovery & identity theft insurance services. Among these segments, the monitoring services registered the largest share along with a value of around USD 3000 million in the year 2019. Additionally, the segment is anticipated to cross a value of around USD 8600 million by growing at a CAGR of around 13% during the forecast period. The monitoring services segment is further divided into credit monitoring and identity monitoring. Out of these, the identity monitoring segment registered the largest market share and is further anticipated to grow at a CAGR of around 12% during the forecast period.

Based on region, the global global identity theft protection services is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The market in Asia Pacific registered a market share of around 17% in the year 2019 and is further expected to grow with a CAGR of around 14% during the forecast period and reach a value of around USD 2500 million by the end of 2028.

Some of the affluent industry leaders in the global identity theft protection services market are Equifax, Inc., LexisNexis Risk Solutions, AllClear ID, Experian Information Solutions, Inc., Fair Isaac Corporation, NortonLifeLock Inc., TransUnion LLC, IdentityForce, Inc. and IdentityIQ.