Global Identity Theft Protection Services Market By Type (Credit Card Fraud, Employment or Tax-Related Fraud, and Others), By Application (Consumer, and Enterprise), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Identity Theft Protection Services Market By Type (Credit Card Fraud, Employment or Tax-Related Fraud, and Others), By Application (Consumer, and Enterprise), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)
Trusted Business Insights has published a comprehensive market research report on, Global Identity Theft Protection Services Market by Identity Theft Type (Credit Card Fraud, Tax Related Fraud, Utility Fraud and Bank Fraud), By Application (Consumer and Enterprise), and by Region -Global Forecast to 2030, which offers a holistic view of the global Identity Theft Protection Services market through systematic segmentation that covers every aspect of the target market.

The global Identity Theft Protection Services market was valued at US$ 3910.9 Mn in 2020 and is expected to reach US$ 10,388.3 Mn by 2030 at a CAGR of 10.3%.

The internet has brought the world closer and made it possible to interact within social circles, right from mobile device or PC. Moreover, the social media platform has made it easier to keep all updates. While, this is the positive side of the internet, there are also a few negative sides to all of this. High exposure towards internet and social media, personal information is circulated widely, which gives opportunities to online fraudsters to misuse such information and commit frauds or unlawful acts. Identity theft is a fraudulent practice of using another persons identity and information without permission, to gain a financial advantage or obtain some other benefits. The hacked data may not just be used for personal gains, but can also be sold on the online black market, further creating severe damage. Identity theft includes hacking of information such as photographs, identity, credentials, education background, relationship, financial detail, child identity, medical records, and other sensitive information. Identity theft is becoming an increasingly common problem in developed economies, as fraudsters discover a new way to get hold of information, which is increasing demand for identity theft protection services market in the coming years.

Increasing digital payments and e-commerce transactions globally, coupled with associated fraudulent activities is expected to propel the demand of target market at an alarming rate over the forecast period.


Global Identity Theft Protection Services Market Revenue (US$ Mn), 2021 to 2030


However, an identity theft protection service provider does not ensure consumer data from breaches, and consumers are not entitled to theft insurance. Nonetheless, growing digitalization in developing economies in the Asia Pacific region, such as India, China, etc. is also expected to provide lucrative opportunities for players to increase penetration in these untapped markets.
Global Identity Theft Protection Services market is segmented on the basis of identity theft type, application and region. On the basis of identity theft type, the market is segmented into Credit Card Fraud, Tax Related Fraud, Utility Fraud and Bank Fraud. The Credit Card Fraud segment accounts for the majority share, followed by Tax Related Fraud segment. On the basis of application, the market is segmented into Consumer and Enterprise. The Enterprise segment accounts for a majority share in the global Identity Theft Protection Services market.


Global Identity Theft Protection Services Market by Identity Theft Type, 2018


On the basis of region, the market is segmented into North America, Europe, APAC, South America and Middle East Africa. North America accounts for the majority share in the global Identity Theft Protection Services market. APAC is expected to register the highest growth rate over the forecast period.

The research report on the global Identity Theft Protection Services market includes profiles of some of the major companies such as Symantec Corporation (LifeLock, Inc.), Experian Plc, Equifax Inc., TransUnion, Fair Isaac Corporation and Affinion Group Holdings, Inc.

Key Market Segments:

By Type

  
Credit Card Fraud
  
Employment or Tax-Related Fraud
  
Phone or Utility Fraud
  
Bank Fraud

By Application

  
Consumer
  
Enterprise


Key Market Players included in the report:


  
ADT (Florida, United States)
  
Affinion
  
AllClear ID (London)
  
CSID
  
Cyberscout, LLC (Arizona, United States)
  
Equifax, Inc. (Georgia, United States)
  
Experian Information Solutions, Inc. (New York, United States)
  
Fair Isaac Corporation (California, United States)
  
FICO
  
IdentityForce, Inc. (Framingham, United States)
  
IdentityIQ (California, United States)
  
Intersections
  
Kroll (New York, United States)
  
LexisNexis Risk Solutions (Georgia, United States)
  
LifeLock, Inc. (Symantec) (Arizona, United States)
  
MyDigitalProtection (India)
  
NortonLifeLock Inc. (Arizona, United States)
  
Privacy Guard (Trilegiant Corporation) (United States)
  
ThreatMark (Czech Republic)
  
TransUnion LLC (Illinois, United States)


 Below are the key development related to Identity Theft Protection Services Market in 2020 and 2021.
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June 2021: Ping Identity Announces the Acquisition of SecuredTouch to Accelerate Identity Fraud Capabilities. Ping Identity Holding Corp. (NYSE: PING) (“Ping Identity”), the Intelligent Identity solution for the enterprise, announced that it has acquired SecuredTouch, a leader in fraud and bot detection and mitigation. By leveraging behavioral biometrics, artificial intelligence, machine learning, and deep learning, SecuredTouch provides identity, risk, and fraud teams unparalleled early visibility into potential malicious activity happening across digital properties. Through sophisticated bot detection and account takeover protection, companies can leverage SecuredTouch to provide a more secure and seamless experience for their customers. As SecuredTouch is integrated with the broader PingOne Cloud Platform, enterprise customers will have access to advanced signals, data, and intelligence to gain a greater understanding of fraudster behavior, and step up authentication when needed to stop malicious activity and reduce fraud loss. Customers will be able to deploy SecuredTouch as a stand alone solution or as part of the broader Ping One Cloud Platform. Source

February 2021: Sontiq™ Announces Definitive Agreement to Acquire Cyberscout® the Leading Cyber Products and Services Provider to the Insurance Industry. Sontiq Welcomes Cyberscout Into Product Brand Portfolio, Joining Market-Leading Solutions IdentityForce® And EZShield®. Sontiq, a portfolio company of The Wicks Group of Companies, LLC (“Wicks”) and the leader in Intelligent Identity Security, announced the signing of a definitive agreement to acquire Cyberscout, a pioneer of best-of-breed cyber products and services tailored for the insurance industry. By acquiring Cyberscout, Sontiq will further build upon its world-class product platform and expand into the insurance industry with cyber solutions and forensic investigation products and services. With Cyberscout, and Sontiq’s IdentityForce and EZShield, an ever-growing community of institutions, households, and individuals benefit from best-in-class products and services that define the identity theft and cyber fraud protection market. Source

November 2020: Refinitiv to add fraud prevention capability with acquisition of GIACT. Refinitiv has signed a definitive agreement to acquire Giact Systems, LLC (“GIACT”) boosting Refinitiv’s existing risk and compliance capabilities with the addition of an industry leader in digital identity, payments verification and fraud prevention.The acquisition of GIACT comes at a time when organizations are challenged by the rapid growth in digitalization accelerated by the emergence of new fraud threats, global connectivity and world events such as the Covid-19 pandemic. These factors are forcing improvements to fraud prevention and compliance procedures, as well as a move towards more holistic solutions for digital identity verification, fraud prevention and anti-money laundering.GIACT has grown rapidly since it was founded in Texas in 2004 and now has over 100 employees supporting more than 1,000 leading blue-chip companies, payment merchants, financial and insurance customers. GIACT enables organizations across the United States to combat payments fraud, account takeovers and identity theft, which facilitates faster and more secure transactions.Source