Global Identity Theft Protection Services Market 2016-2018 & 2026 - Focus on Credit Card Fraud, Employment or Tax Related Fraud, Phone or Utility Fraud and Bank Fraud - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 24, 2018--The “Global Identity Theft Protection Services Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026” report has been added to ResearchAndMarkets.com’s offering.
The global identity theft protection services market expected to surpass US$ 21.23 Bn in 2026, expanding at a CAGR of 14.2% from 2018 to 2026.
In the U.S., identity theft has emerged as the fastest growing crime over the period. Subsequently, identity theft protection services is expected to continue witnessing promising growth over the forecast period.
The overall identity theft protection services market is highly driven by the continually growing instances of identity theft across the world. On an average, business enterprises worldwide bear a loss of over US$ 200 Bn every year due to identity theft. On the other hand, consumers lose more than US$ 16 Bn due to identity theft every year. Consistently growing number of identity theft instances can be attributed to the rapidly growing penetration of internet services worldwide.
Wide array of public records including motor vehicle records, professional & business licenses, court files, property details and several others are posted on government websites, making them more vulnerable to data breach. Due to growing emphasis by the national governments worldwide towards electronic IDs, instances of identity theft and data breach may rise at an alarming rate over the following years. This is further expected to generate substantial demand for related identity theft protection services in the years to come.
In addition, vital factor driving identity theft protection services market is continually growing online payment mode worldwide along with associated frauds. With flourishing e-commerce sector, online payment has witnessed widespread growth over the period. Online payment constitute nearly 2/3rd of the total payment made in e-commerce transactions. Of the total online payment frauds, over 60% of the total instances are channeled through e-commerce transactions. Due to factors such as growing internet user penetration and adoption of e-commerce services, identity theft from the sector is expected to continue rising, thereby driving the market growth.
Strategic partnerships and alliances is one of the common strategy adopted by identity theft protection services providers. Private and public organizations are forming alliances with other companies to strengthen its market presence. For instance, recently in May 2018, Experian PLC entered into a partnership with a non-profitable organization, Small Business Financial Exchange, Inc. (SBFE). The company aimed to capitalize over the growing sector of small and medium scale business division with this partnership.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Identity Theft Protection Services Market, by Identity Theft Type
Chapter 5 Global Identity Theft Protection Services Market, by End User Application
Chapter 6 Global Identity Theft Protection Services Market, by Geography
Chapter 7 Company ProfilesLifeLock, Inc. Experian PLC Equifax, Inc. TransUnion, LLC FICO (Fair Isaac Corporation) Affinion Security Center LexisNexis Risk Solutions Intersections, Inc. CSIdentity (CSID) Corp. AllClear ID
For more information about this report visit https://www.researchandmarkets.com/research/x3fpg9/global_identity?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180924005692/en/
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SOURCE: Research and Markets
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PUB: 09/24/2018 11:35 AM/DISC: 09/24/2018 11:35 AM