The identity theft can also affect companies, causing not only economic but also reputational damages (e.g. the imposter offers lower quality services compared to the ones offered by the original company). Moreover the companies are supposed to protect beyond themself, also their employees, clients and suppliers, and so they are responsible to damages caused to the third parties in a case of bad handling of their sensible data. Depending on a different country the fine for not proper handling such data could be very high. Therefore, in order to prevent that risk, the most important practices are the training of the employees about the risks and manners in which identity theft can be performed, and the countermeasures to adopt. Also it is advisable to have a good information system provided with adequate security and constantly updated.
Identities are more valuable than ever. Identity theft protection helps protect potential victims of identity theft. Companies typically offer four different services: credit monitoring, expert support, insurance, and information surveillance via internet and public sources. Through these, companies are can detect identity theft, and mitigate the damage thereof.
The key brand include NortonLifeLock, Experian, Equifax, TransUnion, FICO, Affinion, LexisNexis, Intersections, Allstate, AllClear ID and son on. The top five players account for more than half of global share in 2019.
From the perspective of service application, the service is mainly applied to consumers and enterprises. In 2019, consumers account for the main share of the service market, about 90%.
Market Analysis and Insights: Global Identity Theft Protection Services Market
The research report studies the Identity Theft Protection Services market using different methodologies and analyzes to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
The global Identity Theft Protection Services market size is projected to reach US$ 7742 million by 2026, from US$ 5182 million in 2020, at a CAGR of 6.9% during 2021-2026.
Global Identity Theft Protection Services Scope and Segment
The global Identity Theft Protection Services market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Identity Theft Protection Services market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2015-2026.
by Type, the market is primarily split into
Credit Card Fraud
by Application, this report covers the following segments
Global Identity Theft Protection Services market: regional analysis, the major regions covered in the report are:
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
Rest of Middle East & Africa
The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition. This will give the reader an edge over others as a well-informed decision can be made looking at the holistic picture of the market.
The Identity Theft Protection Services key players in this market include: