Global Identity Theft Protection Services Market- Market Overview:

The global identity theft protection services market is expected to grow from USD 12.3 billion in 2022 to USD 22.9 billion by 2030, at a CAGR of 8.1% during the Projection period 2023-2030. The growth of the identity theft protection services market is mainly driven by the surge in communication.

Identity theft is a type of robbery that involves stealing a person's personal information in order to impersonate them. In most situations, stolen data is not used for personal gain; rather, it is sold on the online black market, enhancing the severity of the damage. Identity theft can be committed through hacking bank information, criminal identities, social security identities, kid identities, medical records, and so on. Identity theft typically causes tremendous harm to the victim from all angles, including financial and personal harm. Because of this, identity theft is considered one of the most severe concerns faced by individuals and enterprises worldwide. Identity theft is becoming more common as a result of digitalization and the rapid increase in public data such as personal information, family information, and financial information being exposed to the world via the internet. Identity theft costs businesses around the world an estimated $200 billion every year. Aside from that, each year, individuals lose over US$ 16 billion owing to identity theft. Identity theft is becoming more common as online services become more prevalent in the banking and other modules.

Sample Request: - Global Identity Theft Protection Services Market

Market Dynamics:

Drivers:                          

• Rising Online Transaction

With digitalization and increased transaction speed, online financial transactions are fast rising. The benefit of using the internet mode for financial transactions is that they may be completed promptly rather than visiting banks and standing in huge lines for a little financial transaction. Using internet-enabled transactions is convenient for many people. Financial transactions enabled by technology have become a weapon for cyber attackers.

Restraints:                                             

• High Cost

Identity Theft Protection Services can be costly based on the number of assets covered by the identity theft protection services. There are different plans with various service options ranging from USD 10 to USD 30 per month, depending on the services selected. As a result of decreasing company investment and expensive rates for identity theft protection services, many small and medium-sized businesses cannot afford the services.

Opportunities:

• Generation of Electronic IDs

Electronic IDs are digital identities that a person or organisation can use to gain access to services or benefits provided by banks, government agencies, and businesses. They are also suitable for mobile payments. As data becomes more vulnerable, there is an ideal chance to expand identity theft prevention services.

Challenges:

• Lack of Awareness

Many businesses and people are not aware of identity theft protection services. Less information and awareness about such services and what they offer is a problem for the market's growth.

Segmentation Analysis:

The global identity theft protection services market has been segmented based on theft type, end-user, and region.

By Theft Type

The theft type segment is bank fraud, credit card fraud, employment and tax, phone and utility, and others. The credit card fraud segment led the largest share of the identity theft protection services market with a market share of around 45.34% in 2022. This area is predicted to grow the most during the projection period due to increased demand for credit cards, which offer a variety of benefits and discounts. Cardholders' increasing desire for identity theft protection services is also driving the industry.

By End-User

The end-user segment is consumer and enterprise. The enterprise segment led the largest share of the identity theft protection services market with a market share of around 62.3% in 2022. The market has grown as a result of data leaks and cyberattacks. It compels the firm to seek identity theft protection services in order to prevent the organization's confidential data from falling into the wrong hands.

Global Identity Theft Protection Services Market - Sales Analysis.

The sale of the identity theft protection services market expanded at a CAGR of 5.74% from 2016 to 2022.

Internet-based financial transactions have grown in popularity among today's youth. In recent years, leading organizations that provide such fund transfer services have seen tremendous involvement. For example, Paytm, one of the biggest e-commerce payment businesses reported a 50% rise in total transactions in 2020. The growing use of online payments among tech-savvy millennials is predicted to promote the growth of the identity theft protection services industry.

Furthermore, greater public awareness of identity theft, accompanied by an increase in the number of incidents, is expected to boost demand in the future. According to the Indian Express, Vodafone lost INR 94 lakh in February 2021 owing to identity theft in India.

Thus, owing to the aforementioned factors, the global identity theft protection services market is expected to grow at a CAGR of 8.1% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the identity theft protection services market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the identity theft protection services market and held a 39.2% share of the market revenue in 2022.

• The North America region witnessed a major share. Because of the region's thriving e-commerce economy. Internet services have permeated most professions in this region, increasing the need for identity theft protection services. Most industries are digital, and people rarely conduct banking transactions in person, leaving their data more exposed to hacks and identity theft. It raises the region's demand for identity theft protection services.
• Asia-Pacific is anticipated to experience significant growth during the Projection period. The region's market share of identity theft protection services is growing due to the growing population of credit card holders and the increasing acceptance of online payments.

Global Identity Theft Protection Services Market- Country Analysis:

• Germany

Germany's identity theft protection services market size was valued at USD 0.87 billion in 2022 and is expected to reach USD 1.6 billion by 2030, at a CAGR of 8.2% from 2023 to 2030. The rising public awareness of the dangers of identity theft and data breaches is increasing the demand for identity theft protection services in the country.

• China

China’s identity theft protection services market size was valued at USD 0.91 billion in 2022 and is expected to reach USD 1.7 billion by 2030, at a CAGR of 8.5% from 2023 to 2030. The escalating expense of resolving a data breach or identity theft incident is encouraging more businesses and individuals to invest in identity theft protection services in the country.

• India

India's identity theft protection services market size was valued at USD 0.7 billion in 2022 and is expected to reach USD 1.33 billion by 2030, at a CAGR of 8.4% from 2023 to 2030. Consumers are becoming increasingly exposed to identity theft as they utilize online and mobile banking services more frequently. Furthermore, the growing number of data breaches exposing the personal information of millions of consumers to potential hackers is driving the market in the country.

Key Industry Players Analysis:

To increase their market position in the global identity theft protection services market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.             

• IDShield
• McAfee, LLC
• Allstate Insurance Company
• Chubb
• GEICO
• Aura
• Nationwide Mutual Insurance Company
• Experian
• IdentityForce, Inc.
• NortonLifeLock In

Latest Development:

• In January 2020, CBIA, one of Connecticut's largest corporate companies, struck a collaboration agreement with Defend-id, Inc., an identity theft protection service provider. The collaboration would enable the company to supply small businesses with identity theft recovery and protection services.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	8.1%
Market Size	12.3 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Theft Type, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	IDShield, McAfee, LLC, Allstate Insurance Company, Chubb, GEICO, Aura, Nationwide Mutual Insurance Company, Experian, IdentityForce, Inc., and NortonLifeLock In.
By Theft Type	Bank Fraud Credit Card Fraud Employment and Tax Phone and Utility Others
By End-User	Consumer Enterprise
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Identity Theft Protection Services Market By Theft Type:

• Bank Fraud
• Credit Card Fraud
• Employment and Tax
• Phone and Utility
• Others

Global Identity Theft Protection Services Market By End-User:

• Consumer
• Enterprise

Global Identity Theft Protection Services Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Tax advantages facilitate the expansion of markets such as the identity theft protection services sector. Furthermore, the identity theft protection services sector will be able to preserve its competitiveness by cutting operational expenses, due to government subsidies and favourable tax rates. Furthermore, corporate expenses will not be passed on to customers, resulting in attractive and competitive prices. Markets such as identity theft protection services s will be able to expand as a result of favourable tax policies that support firm growth and development, thereby contributing to the creation of economic value for the country.

Economic Factors- Businesses, such as those in the identity theft protection services industry, will find it easier to obtain bank loans if interest rates are reasonable. This business financing is intended to support growth and development. Business loans would also contribute significantly to the expansion and development of the sector's infrastructure. Personal loans with low interest rates may be available to people. Personal loans boost consumer spending and consumption when interest rates are low to moderate. This would increase consumer spending, sales, and market share for companies in the identity theft protection services sector, for example.

Social Factors- The entire public is following health and wellness trends. Consumer decisions and behaviours have been influenced by the health and wellness movement. According to consumer research and behavioural evaluations, the identity theft protection services market has introduced health-related features to its goods and incorporated health-related elements into its marketing. As health consciousness has grown, the identity theft protection services market has partnered and implemented CSR programmes that focus not only on physical health and well-being, but also on mental and emotional well-being.

Technological Factors- Significant domestic and foreign investment is made in the country's technological R&D. The substantial investment advances industries by providing them with modern, adaptive, and efficient means of conducting business and carrying out other commercial activities. Increased investment and research have also resulted in a higher rate of innovation. Businesses benefit from innovation and development by broadening the industrial sector and acquiring a competitive advantage on the global market. Individual player modifications, such as those found in the identity theft protection services market, also contribute to the development of significant competitive advantages.

Environmental Factors- The government is gradually turning to renewable energy for all operations and commercial activities. This is done to lower both the carbon footprint and the ecological footprint of the market. Solar energy and hydroplanes are increasingly being used for operation management and business activities by participants in the identity theft protection services industry and adjacent sectors. The identity theft protection services market features a small-scale, company-controlled hydro plant to assist with manufacturing activities.

Legal Factors- The population and market of the country are diverse. There are a lot of immigrants, and the country's enterprises are all over the place. As a result, the identity theft protection services industry has long advocated for worker diversity and set internal corporate policies to encourage it. From hiring to promoting, the corporation adheres to anti-discrimination policies in all aspects of its operations. Every employee attend diversity trainings and workshops on a regular basis to learn how to avoid racist and biassed actions that could have severe consequences. Like its competitors, the identity theft protection services  market is an equal-opportunity employer.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Theft Type
     • 3.2. Market Attractiveness Analysis By End-User
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rising Online Transaction
   • 3. Restraints
     • 3.1. High Cost
   • 4. Opportunities
     • 4.1. Generation of Electronic IDs
   • 5. Challenges
     • 5.1. Lack of Awareness

6. Global Identity Theft Protection Services Market Analysis and Projection, By Theft Type
   • 1. Segment Overview
   • 2. Bank Fraud
   • 3. Credit Card Fraud
   • 4. Employment and Tax
   • 5. Phone and Utility
   • 6. Others
7. Global Identity Theft Protection Services Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Consumer
   • 3. Enterprise
8. Global Identity Theft Protection Services Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Identity Theft Protection Services Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Identity Theft Protection Services Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • IDShield
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • McAfee, LLC
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Allstate Insurance Company
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Chubb
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • GEICO
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Aura
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Nationwide Mutual Insurance Company
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Experian
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • IdentityForce, Inc.
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • NortonLifeLock In
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
2. Global Bank Fraud, Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
3. Global Credit Card Fraud, Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
4. Global Employment and Tax, Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
5. Global Phone and Utility, Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
6. Global Others, Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
7. Global Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
8. Global Consumer, Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
9. Global Enterprise, Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
10. Global Identity Theft Protection Services Market, By Region, 2023–2030 (USD Billion)
11. North America Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
12. North America Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
13. USA Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
14. USA Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
15. Canada Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
16. Canada Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
17. Mexico Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
18. Mexico Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
19. Europe Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
20. Europe Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
21. Germany Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
22. Germany Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
23. France Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
24. France Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
25. UK Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
26. UK Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
27. Italy Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
28. Italy Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
29. Spain Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
30. Spain Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
31. Asia Pacific Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
32. Asia Pacific Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
33. Japan Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
34. Japan Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
35. China Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
36. China Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
37. India Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
38. India Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
39. South America Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
40. South America Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
41. Brazil Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
42. Brazil Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
43. Middle East and Africa Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
44. Middle East and Africa Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
45. UAE Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
46. UAE Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)
47. South Africa Identity Theft Protection Services Market, By Theft Type, 2023–2030 (USD Billion)
48. South Africa Identity Theft Protection Services Market, By End-User, 2023–2030 (USD Billion)

List of Figures 

1. Global Identity Theft Protection Services Market Segmentation
2. Identity Theft Protection Services Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Identity Theft Protection Services Market Attractiveness Analysis By Theft Type
9. Global Identity Theft Protection Services Market Attractiveness Analysis By End-User
10. Global Identity Theft Protection Services Market Attractiveness Analysis By Region
11. Global Identity Theft Protection Services Market: Dynamics
12. Global Identity Theft Protection Services Market Share By Theft Type (2023 & 2030)
13. Global Identity Theft Protection Services Market Share By End-User (2023 & 2030)
14. Global Identity Theft Protection Services Market Share by Regions (2023 & 2030)
15. Global Identity Theft Protection Services Market Share by Company (2021)