Identity Theft Protection Services Market size was over USD 12.94 billion in 2023 and is anticipated to cross USD 67.12 billion by 2036, growing at more than 13.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of identity theft protection services is estimated at USD 14.34 billion.
The global identity theft protection services market is thriving on the back of the growing demand for identity theft protection services from enterprise and consumer vertical, backed by the growing occurrence of cybercrime around the globe. According to the statistics by the Internet Crime Complaint Centre (IC3), over 467361 cybercrime complaints were filed in the year 2019. Additionally, growing incidences of identity thefts, increasing utilization of electronic identity in end user verticals along with the rising use of internet-based transactions worldwide are some of the factors anticipated to promote towards the growth of the global identity theft protection services market. According to FTC (Federal Trade Commission), in 2019, there was over 3.2 million identity theft, and fraud cases were reported with federal, state & local law agencies and private enterprises in the United States, out of which over 651,000 were identity theft cases.
Growth Indicators
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
13.5% |
Base Year Market Size (2023) |
USD 12.94 billion |
Forecast Year Market Size (2036) |
USD 67.12 billion |
Regional Scope |
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The global identity theft protection services market has been segmented on the basis of theft type into criminal, financial, credit card fraud, government identity and others. The credit card fraud segment registered the largest market share of 26.76% along with a value of USD 1266.4 million in the year 2019 and is projected to reach a share value of 6.22% by the end of 2036 by growing at a CAGR of 14.47% during the forecast period. Credit card fraud is one of the most common forms of identity theft that occurs across the globe.
Our in-depth analysis of the global identity theft protection services market includes the following segments
By Theft Type |
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By Services |
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By End User |
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The global identity theft protection services market is segmented by regions into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. North America industry is set to account for largest revenue share of 40% by 2036. Growing use of electronic IDs, increasing reliance on internet-based financial transactions coupled with the increasing number of identity theft cases across the countries in North America are some of the primary factors anticipated to drive the growth of the North America identity theft protection services market during the forecast period.
July 2020: Equifax, Inc. announced the launch of two new solutions for credit monitoring and identity theft protection which includes Equifax Credit Monitor and Equifax Complete that includes monitoring features, credit report lock capabilities and identity theft protection.
March 2020: LexisNexis Risk Solutions announced the launch of LexisNexis Behavioral Biometrics, which is a fraud and identity solution to strengthen the protection against fraud and cybercrime.
Author Credits: Abhishek Verma
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