Identity Theft Protection Services Market Report 2025

The identity theft protection services market size has grown rapidly in recent years. It will grow from $13.07 billion in 2024 to $14.51 billion in 2025 at a compound annual growth rate (CAGR) of 11%. The growth in the historic period can be attributed to financial fraud incidents, increased digitalization, high-profile data breaches, data privacy concerns, rise in cyber threats.

The identity theft protection services market size is expected to see rapid growth in the next few years. It will grow to $23.65 billion in 2029 at a compound annual growth rate (CAGR) of 13%. The growth in the forecast period can be attributed to consumer awareness and demand, cybercrime trends and patterns, growth of digital transactions, market competition and innovation. Major trends in the forecast period include AI and machine learning integration, biometric authentication advancements, and rise in cybersecurity threats, regulatory changes and compliance, expansion of digital footprint protection.

An escalating number of fraudulent activities is anticipated to drive the growth of the identity theft protection services market in the future. Fraud is defined as any action that employs deceit to gain an advantage, and it constitutes a crime when there is a deliberate distortion of the truth or concealment of a significant fact to persuade someone to act against their own interests. Identity theft protection services track personally identifiable information across credit applications, public records, websites, and other sources for any unusual activity that may suggest identity theft. For example, in March 2022, Bolster AI, a U.S.-based company utilizing AI to safeguard organizations from cyberattacks, reported a significant rise in the total number of unique phishing and scam pages, increasing from 10.5 million to 13.4 million, marking a 27.8% surge in global phishing activities compared to 2022. Consequently, the growing prevalence of fraudulent activities is fueling the expansion of the identity theft protection services market.

The anticipated growth of the identity theft protection market is also attributed to the increasing cybersecurity threats. Cybersecurity threats encompass potential events or actions capable of harming computer systems, networks, devices, or data by exploiting vulnerabilities and posing risks to digital assets' confidentiality, integrity, or availability. The surge in cybersecurity threats acts as a catalyst for the identity theft protection market, prompting individuals and organizations to invest in preventive measures and proactive monitoring against evolving cyber risks. According to AAG's September 2023 report, 39% of UK companies reported experiencing a cyber-attack in 2022, with cybercrime impacting 53.35 million individuals in the US during the first half of 2022. Therefore, the increasing cybersecurity threat is driving the growth of the identity theft protection market.

Major companies in the identity theft protection market are innovating products and services, such as identity protection and restoration services, to cater to larger customer bases, boost sales, and increase revenue. Identity protection and restoration services constitute a comprehensive suite of offerings designed to safeguard individuals against identity theft and fraud, along with assisting in the recovery process if identity compromise occurs. In May 2022, Bitdefender, a Romania-based cybersecurity company, introduced Bitdefender Identity Theft Protection, offering continuous monitoring for identity threats, 24/7 surveillance of credit and financial accounts, and exclusive recovery services in case of identity takeover. This service empowers consumers to engage in online activities with confidence, ensuring the protection of their financial identity and personal data. The unique feature is swift credit repair in response to identified threats, providing users with peace of mind.

Major companies operating in the identity theft protection market are developing innovative products such as comprehensive solutions to address a wider customer base, drive more sales, and increase revenue. Comprehensive solutions entail integrated approaches addressing multiple facets of a particular problem, challenge, or need. In October 2023, Malwarebytes, a US-based cybersecurity company, launched an identity theft protection service with a comprehensive approach involving dark web scans, social media account protection, credit activity monitoring, and up to $2 million in identity theft insurance. The service is further fortified by Malwarebytes' Browser Guard, a browser extension offering protection against ad trackers, malicious websites, and in-browser threats. This multifaceted defense enhances users' security against various online threats.

In April 2024, Entrust Corp, a U.S.-based software company, acquired Onfido for an undisclosed sum. This acquisition is intended to strengthen Entrust's identity-centric security solutions by incorporating Onfido's cutting-edge identity verification technology, which will help address new cybersecurity challenges and allow organizations to implement Zero Trust frameworks more effectively. Onfido is a UK-based firm that offers AI-driven identity verification and authentication solutions.

Major companies operating in the identity theft protection services market include NortonLifeLock Inc., TransUnion LLC, Experian Information Solutions Inc., LexisNexis Risk Solutions, AllClearID Inc., Kroll Inc., McAfee LLC, Identity Force Inc., Equifax Inc., Cyberscout LLC, Intersections Communications Inc., RELX PLC, PrivacyGuard Holdings Inc., ID Watchdog, IdentityGuard, Zander Insurance, MyIDCare, ProtectMyID, Sontiq, Sentinel, SecureID, CreditVision, TrueIdentity, IdentityIQ, PrivacyArmor, 1Password, Aura, EverQuote, ClearID, RiskIQ.

North America was the largest region in the identity theft protection services market in 2024. The regions covered in the identity theft protection services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the identity theft protection services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Identity theft protection services refer to any service designed to help individuals safeguard themselves against the illegal acquisition of their personal data, such as name, birthday, and social security number. The purpose of these services is to prevent the unauthorized use of this information for financial gain or other criminal activities. Identity theft protection services typically provide alerts to clients regarding suspicious activities and assist them in minimizing potential damages.

The main categories of identity theft protection services include monitoring services, credit monitoring, identity monitoring, and identity recovery, along with theft insurance services. Monitoring services involve software or tools that help individuals and system administrators track their identity across various platforms, including credit applications, public records, websites, and other sources. These services cover various types of identity theft, such as credit card fraud, employment fraud, tax-related fraud, phone or utility fraud, and bank fraud. These services cater to end-users, including both consumers and enterprises.

The identity theft protection services market research report is one of a series of new reports that provides identity theft protection services market statistics, including the identity theft protection services industry global market size, regional shares, competitors with an identity theft protection services market share, detailed identity theft protection services market segments, market trends and opportunities, and any further data you may need to thrive in the identity theft protection services industry. This identity theft protection services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The identity theft protection services market includes revenues earned by entities by providing financial identity theft, medical identity theft, and online identity theft protection services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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