Demand For Identity Theft Protection Technology Is Anticipated To Surpass USD 24 Billion By 2032 End

Identity Theft Protection Services Market

The global identity theft protection services market is estimated at USD 10 Billion in 2022 and is forecast to surpass USD 24 Billion by 2032, growing at a CAGR of 9.4% during 2022-2032.

The global identity theft protection services market accounts for ~5% of the global cybersecurity market in 2022. The global identity theft protection services market is estimated to have an absolute $ opportunity of USD 14 Billion during the assessment period of 2022-2032.

The report offers actionable and valuable market insights of Identity Theft Protection Services. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Identity Theft Protection Services Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Identity Theft Protection Services market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Identity Theft Protection Services

Identity theft protection services have garnered prominence for establishment of a robust monitoring and protection framework, both for individuals as well as business enterprises. An alarming rise of high-profile data breaches resulting in hefty losses is predominantly pushing high-scale deployment of identity theft protection services. These insights are according to the new report by Fact.MR, which foresees a buoyant outlook for the identity theft protection services market over the forecast period. The identity theft protection services market witnessed an opportunity worth US$ 7,377 Mn in 2018 and will continue its upward spiral in the forthcoming years.

This newly published and insightful report sheds light on Market Insights of Identity Theft Protection Services, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Identity Theft Protection Services Market.

Risks of Unauthorized Invasion of Electronic IDs to Spur Adoption

As per the report, rapid digitization of government records & emergence of electronic IDs have positioned data privacy spectrums in a highly-vulnerable state. With the increasing susceptibility of private data to potential threats, deployment of identity theft protection services are gaining consistent popularity. With people drawn to convenience associated with online shopping, the risk of ecommerce fraud is also increasing, intensifying the scope for large-scale deployment of identity theft protection services.

Credit card fraud, valued at US$ 2,906 Mn in 2018, is likely to be a significant type in parallel to the alarming situation of frauds faced by credit-card holders worldwide. According to the Federal Trade Commission, more than 32% of Americans lodged complaints about credit card frauds in the year 2016, which is double the rate recorded in 2015. Furthermore, escalating inclination toward internet-based financial transactions is spurring the deployment of identity theft protection services for banks and this deployment rate is likely to register promising growth over the forecast period.

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Global Identity Theft Protection Services Market by Category

  • By Type :

    • Credit Card Fraud
    • Employment & Tax Related Fraud
    • Phone or Utility Fraud
    • Band Fraud
  • By End-Use :

    • Consumers
    • Enterprises
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • MEA

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The research study positions the market players into four distinctive propositions-

Leaders: Players with an established brand equity and impressive product portfolios. Challengers: Players who remain focused on innovation-driven growth and enhancement of their revenue footprint Followers: Players who are scaling substantial heights to establish themselves in the global market space, albeit at a slow pace Aspirers: Players focused on foothold expansion and solidification by closely trailing the nearest competitors In tune with the evolving requirements of end users, vendors have started offering seamless recovery assistance and insurance coverage.

Fact.MR’s report presents captivating insights and forecast of identity theft protection services market for the forecast period of 2018- 2027. The report envisages the identity theft protection services market to proliferate at an impressive CAGR of over 13% through 2027.

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