Identity Theft Protection Services Market Scope
Instances of hacking attacks and identity theft in baking and other industries have been escalated over the past few years. In addition to this, due to digitalization across the globe will further create numerous opportunities for data hacking and frauds. This has ultimately emerged the solutions to minimize these hacking attacks such as key logger, brute force, shoulder surfing, and many others. In addition to this, continuously evolving hacking techniques will lead to further technological advancements in the existing systems. Identity threat protection services offer secure platforms as well as restricts intruders & identifies the same. Moreover, the demand for identity theft protection solutions will be escalated further with an increasing need for consumer information protection using multi-level securities.
The market study is being classified by Type (Credit Card Fraud, Employment or Tax-Related Fraud, Phone or Utility Fraud and Bank Fraud), by Application (Consumer and Enterprise) and major geographies with country level break-up. According to AMA, the Global Identity Theft Protection Services market is expected to see growth rate of 16.01% and may see market size of USD17.3 Billion by 2024.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Identity Theft Protection Services market throughout the predicted period.
Symantec (LifeLock Inc.) (United States), Experian plc (Ireland), Equifax Inc. (United States), TransUnion, LLC (United States), FICO (Fair Isaac Corporation) (United States), Affinion Security Center (United States), LexisNexis Risk Solutions (United States), Intersections, Inc. (United States), CSIdentity (CSID) Corp. (United States) and AllClear ID (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are IdentityForce, Inc. (United States) and iPass Inc. (idshield) (United States).
AdvanceMarketAnalytics has segmented the market of Global Identity Theft Protection Services market by Type, Application and Region.
On the basis of geography, the market of Identity Theft Protection Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North Amercia region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Deployment, the sub-segment i.e. On-Premise will boost the Identity Theft Protection Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 20th June 2019, a global identity authentication & theft protection provider, "GIACT Systems" and a global data analytics and technology company, "Equifax" have formed a strategic alliance that will pair the strengths of both companies to help customers confront the challenges of identity verification and fraud prevention. The EPIC Platform from GIACT offers a cost-effective way for companies to help protect against multiple types of fraud across the entire customer lifecycle.
On May 15, 2019, a global identity theft protection service provider, TransUnion has acquired a leader in people-based marketing technology, "TruSignal, Inc.". TruSignal uses its custom audience-building platform to deliver predictive scoring powered by artificial intelligence, making big data available and actionable in almost real time for one-to-one addressable marketing.,
- Increasing Demand for Technological Enhanced and Artificially Intelligent Identity Theft Protection Services
- Improves Cybersecurity Acts Prohibiting the Identity Thefts
- Increasing Instances of Hacking Attacks such as Keyloggers, Brute Force & Many Others
- Provides More Secure Transactions which Protects Consumer Accounts with Multi-Level Securities
- Increasing Secured Banking Technology Infrastructure across the Globe
- Upsurging Banking Transactions and Adoption of Bit Money
- Continuously Evolving Hacking Techniques
- Lack of Awareness about Antitheft Techniques
- Complexities in Integrating Identity Theft Protection Services with Existing Applications
- Need for Continues Updations of Identity Theft Protection Services Due to robust Technological Advancements
Key Target AudienceIdentity Theft Protection Service Providers, Cyber Security Industry Associations, Government Agencies, Financial Institutes and Venture Capitalists, Research and Development Institutes, Downstream Buyers and Others
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