Global Identity Theft Protection Services Market Size, Status and Forecast 2020-2026
Global “Identity Theft Protection Services Market” 2020 Research report provides information regarding market size, share, trends, growth, cost structure, global market competition landscape, market drivers, challenges and opportunity, capacity, revenue and forecast 2026. This report also includes the overall and comprehensive study of the Identity Theft Protection Services market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Identity Theft Protection Services industry and provides data for making strategies to increase the market growth and effectiveness.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market.
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Global Identity Theft Protection Services Market Split by Product Type and Applications:
Competitive Landscape – Notable Developments
- Equifax Inc. acquired ID Watchdog, a leading company offering identity protection and resolution services, in 2017. This acquisition enabled both the companies to merge their industry relationships and enhance access as well as range of employee benefits solutions.
- EZShield launched Mobile Defense Suite(TM) in the year 2018, which was a significant breakthrough for the protection of Personally Identifiable Information (PII). This launch was aimed at empowering individuals and organizations to thwart dangers caused by data breach or any other a potential security incident.
- LexisNexis® Risk Solutions Inc., completed the acquisition of Insurance Initiatives, Ltd. (IIL), a firm offering intelligent data delivery solutions, in the year 2016. This acquisition was aimed at enabling the UK insurers to upgrade business performance and tap into new opportunities.
- Affinion Group introduced PrivacyGuard, an identity theft protection service that safeguards information related to users’ identity and credit, in the year 2017.
The report on identity theft protection services market profiles these companies in the competitive landscape section, wherein other crucial insights apropos of the aforementioned and several other companies are illustrated in detail.
Fact.MR’s study offers captivating insights on the identity theft protection services market. A summary of the report is available upon request.
Identity Theft Protection Services Market – Competition Varies Across Tiers
The identity theft protection services market remains highly-competitive at the bottom level and moderately-competitive at top and middle levels. The emerging players or tier 3 players of the market account for a sizeable revenue share and remain highly oriented toward new product launches and acquisition strategies.
The market players have been assessed in the report as per four propositions- leaders, challengers, followers, and aspirers. The report identifies players such as LifeLock, Inc., Experian Plc., and Equifax, Inc. as leaders with robust revenue footprints and innovative product portfolios. Companies such as Affinion Group and FICO are categorized as challengers, who possess the potential to scale up their revenues with innovation-driven strategies.
The report further categorizes companies such as LexisNexis Risk Solutions Inc. and TransUnion LLC as followers, who are growing at a steady pace to establish a stronghold in the global market space. Aspirers, such as Intersections Inc. and AllClear ID Inc., have been identified by the report as the ones vying to make it big in the market by observing their nearest competitors.
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Rising Corporate Profits to Stimulate Investments in Identity Theft Protection Services
With the resurgence of corporate abilities, the corporate profit margins are also witnessing considerable rise. The willingness to invest in identity theft protection services is also scaling up, aimed at safeguarding the increased income.
As per a recent revelation by the U.S. Bureau of Economic Analysis (BEA), profits from the current production (corporate profits along with inventory valuation as well as capital consumption adjustments) revved up to $76.0 billion in the third quarter, in comparison with an increase of $65.0 billion in the second quarter. Particulars as such provide credence to the fact that corporate profits are not declining anytime soon, portraying potential opportunities for the vendors of identity theft protection services. Conversely, any sort of inconsistency in corporate profits is likely to have adverse impact on the investments being made for these services, which might hamper their deployment rate.
Soaring Reliance on Internet-based Financial Transactions to Boost Deployment
Financial transactions via internet have experienced sheer proliferation since the recent past, driven by factors such as speed and convenience. Technology-enabled transactions are not only famed for enhancing customer experiences, but have also enabled banks to scale up in terms of offering value-based services. However, the rising vigor of technology-driven financial transactions seems to have become a weapon of choice, when in case of fraudsters.
Increasing number of malicious data breaches associated with internet-based financial transactions are anticipated to necessitate the deployment of identity theft protection services. Identity theft protection services offer thorough protection by masking important details and tracking data of privacy invaders monitoring your personal data. Rising concerns associated with data breaches and identity thefts are likely to position the identity theft protection services market for a healthy growth in the upcoming years.
Pervasive Trend of Electronic IDs to Generate Significant Demand
Electronic ID has gained the centerstage as one of the most significant technology trends. In parallel with the mushrooming number of public stakeholders, digital identity has revolutionized the way individuals communicate with public institutions and is set to penetrate through the private sector at a meteoric pace.
With the rising emphasis on electronic IDs by federal governments worldwide, the instances of identity thefts as well as data breaches have also increased at an alarming rate. This, in turn, is triggering the rising focus and investments on identity theft protection services.
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Identity Theft Protection Services – Definition
Identity theft protection services refer to the services used for monitoring and recovering services. Monitoring services help in observing and identifying signs of unauthorized use of one’s personal information. Meanwhile, the recovery services assist in terms of dealing with the ripple effects post-occurrence of an identity theft. Monitoring as well as recovery services are fundamentally sold together, and may consist of options entailing regular access to one’s data.
Identity Theft Protection Services Market- About the Report
The report conveys holistic insights apropos of identity theft protection services market for the forecast timespan of 2018 and 2027. The market size has been evaluated for the identity theft protection services market in terms of value (US$ Mn). A well-articulated assessment on the identity theft protection services market has been included in the report, wherein key aspects such as driving forces, market restraints, opportunities, and pervasive trends have been discussed along with their impact on growth of identity theft protection services market.
The main objective of the identity theft protection services market report is to equip the clients with credible and authentic intelligence on the identity theft protection services market. This would further help the readers in terms of devising fact-based and effective strategies instrumental for affluent expansion of businesses in the identity theft protection services market. The insights represented in the identity theft protection services market report align well with the altering dynamics of the identity theft protection services market space.
Identity Theft Protection Services Market Structure
The identity theft protection services market has been segmented on the basis of type, end use, and region. By type, the identity theft protection services market has been segmented into credit card fraud, employment and tax-related fraud, phone or utility fraud, and bank fraud. By end use, the identity theft protection services market has been segmented into consumers and enterprises. The identity theft protection services market has been gauged across key regions of North America, Europe, China, Rest of APAC, Central & South America, and MEA.
Identity Theft Protection Services Market: Additional Questions Answered
The report on identity theft protection services market answers all the important questions apropos of determining growth of identity theft protection services market. Apart from the aforementioned about identity theft protection services market, the identity theft protection services market report addresses some of the additional questions that are equally instrumental for determining growth of identity theft protection services market-
- Which region will be highly lucrative for identity theft protection services market?
- What is the market size of identity theft protection services market in 2018?
- Which region is poised to witness fastest expansion in the identity theft protection services market?
- Which end use vertical remains the most significant in the identity theft protection services market?
- What are the key differential strategies of players in the identity theft protection services market?
Identity Theft Protection Services Market: Research Methodology
A proven approach forms the base of compelling intelligence on identity theft protection services market offered in the identity theft protection services market report. The report on identity theft protection services market is a result of extensive secondary research in combination with comprehensive primary research process for identity theft protection services market. The insights on identity theft protection services market procured in the primary research for identity theft protection services market have been utilized for validation and authentication of data obtained from secondary research phase.
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Influence of the Identity Theft Protection Services Market Report:
- Comprehensive assessment of all opportunities and risk in the Identity Theft Protection Services market.
- Detailed study of business strategies for growth of the Identity Theft Protection Services market-leading players.
- Conclusive study about the growth plot of Identity Theft Protection Services market for forthcoming years.
- In-depth understanding of Identity Theft Protection Services market-particular drivers, constraints and major micro markets.
- Favourable impression inside vital technological and market latest trends striking the Identity Theft Protection Services market.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Identity Theft Protection Services Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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