Global Identity Theft Protection Services Market Is 6647.90 Million USD In 2017

New report published by Global Info Research which offers insights on the global Identity Theft Protection Services market.

Identity theft is a crime, a type of fraud in which an imposter steals individual information of another person (or a company) and uses it by pretending to be someone else in order to gain some benefit (e.g. money or goods). An identity theft can cause a victim both a financial and emotional damage and also a waste of time and energy needed to avoid consequences of the fraud.

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Global Identity Theft Protection Services Market: Forecast by Type / Application / Region

The identity theft can also affect companies, causing not only economic but also reputational damages (e.g. the imposter offers lower quality services compared to the ones offered by the original company). Moreover the companies are supposed to protect beyond themself, also their employees, clients and suppliers, and so they are responsible to damages caused to the third parties in a case of bad handling of their sensible data. Depending on a different country the fine for not proper handling such data could be very high. Therefore, in order to prevent that risk, the most important practices are the training of the employees about the risks and manners in which identity theft can be performed, and the countermeasures to adopt. Also it is advisable to have a good information system provided with adequate security and constantly updated.

This report studies Identity Theft Protection Services focuses on top manufacturers in global market, with revenue and market share for each manufacturer, covering: LifeLock (Symantec), Experian, Equifax, TransUnion, FICO, Affinion, LexisNexis, Intersections, CSID, AllClear ID.

Split by Identity Theft Types, can be divided into: Credit Card Fraud, Employment or Tax-Related Fraud, Phone or Utility Fraud, Bank Fraud.

Split by applications, this report focuses on industry, market share and growth rate of Identity Theft Protection Services in each application, can be divided into: Consumer, Enterprise.

The global market for Identity theft protection Services is expected to reach about 24058.7 Million USD by 2025 from 6647.90 Million USD in 2017, registering a Compounded Annual Growth Rate (CAGR) of 17.44% during the analysis period, 2017-2025.

We believe that there is a significant, underpenetrated market opportunity for proactive identity theft protection services for consumers and consumer risk management services for enterprises. Based on our research indicating that two-thirds of U.S. adults are concerned about identity theft, we believe the total addressable market for our consumer identity theft protection services is approximately 148 million adults in the United States alone. We focus our efforts on adults with a household income in excess of $50,000 per year and who are concerned about identity theft, of which we estimate there are approximately 78 million in the United States. Additionally, international markets could provide substantial opportunities for us in the future, if we chose to pursue them and tailor our offerings to the different identity elements and regulatory requirements in those markets. We believe the total addressable market for our enterprise consumer risk management services includes approximately 3.4 billion transactions per year, based on our analysis of industry research, public filings, industry trade publications, and U.S. government studies.

The industry is relatively fragment, the key brand include LifeLock (Symantec), Experian, Equifax, TransUnion, FICO, Affinion, LexisNexis, Intersections, CSID, AllClear ID and son on.

It’s a highly competitive business market. The players may provide products and services comparable or superior, or at lower prices, adapt more quickly to evolving industry trends or changing market requirements, increase their emphasis on products and services, enter the markets. Any of these factors could reduce the player’s market share or decrease the player’s revenue.

The market is growing at a very rapid pace and with rise in technological innovation, competition and M&A activities in the industry many local and regional vendors are offering specific application products for varied end-users. The new manufacturer entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.

Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions’ unfair methods of competition.

Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.

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Related Information:
United States Identity Theft Protection Services Market 2018 Forecast to 2023
Europe Identity Theft Protection Services Market 2018 Forecast to 2023
North America Identity Theft Protection Services Market 2018 Forecast to 2023
Asia-Pacific Identity Theft Protection Services Market 2018 Forecast to 2023
China Identity Theft Protection Services Market 2018 Forecast to 2023
EMEA Identity Theft Protection Services Market 2018 Forecast to 2023
Global Identity Theft Protection Services Market 2018 Forecast to 2023

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