Press release
Travelers Identity Protection Services Market Report, Size, Share, Growth, Trends, Forecast to 2033
Travelers Identity Protection Services Market
The new report published by The Business Research Company, titled Travelers Identity Protection Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the travelers identity protection services market size has grown strongly in recent years. It will grow from $8.64 billion in 2023 to $9.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The travelers identity protection services market size is expected to see strong growth in the next few years. It will grow to $12.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
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What Is Driving The Growth Of The Global Travelers Identity Protection Services Market?
The Growing Need For Travel Identity Protection Amid Rising Online Fraud
The rising number of online sca*ms and frauds is expected to propel the growth of the travelers identity protection services market going forward. Online sca*ms and frauds involve deceptive practices conducted over the internet to steal money, personal information, or other assets from individuals or organizations. The number of online s*cams and frauds is growing due to increased digital activity and the sophistication of cybercriminal tactics. Travelers identity protection services help mitigate the impact of the rising number of online sc*ams and frauds by providing tools and support to safeguard personal information and detect fraudulent activities. For instance, in March 2023, according to the Internet Crime Complaint Center (IC3), a US-based central hub for reporting cybercrime, investment fraud complaints increased by 127%, rising from $1.45 billion in 2021 to $3.31 billion in 2022. Cryptocurrency investment fraud saw an even more significant rise of 183%, escalating from $907 million to $2.57 billion during the same period. Therefore, the rising number of online sca*ms and frauds is driving the travelers identity protection services market.
What Is The Key Trend In The Global Travelers Identity Protection Services Market?
Advanced Biometric Solutions Enhance Travelers Identity Protection Services
Major companies operating in the traveler identity protection services market are focusing on developing advanced solutions, such as biometric technology, to enhance passenger identification and improve security. Biometric technology refers to the use of unique biological traits, such as fingerprints, facial recognition, or iris scans, to verify and authenticate a traveler's identity efficiently and securely. For instance, in January 2022, Idemia, a France-based cryptography and biometrics technology company, launched ID2Travel, an innovative traveler identity platform, in North America. This platform enhances the travel experience by using identity management and biometric identification, ensuring efficient, secure, and frictionless travel. ID2Travel can be integrated into various travel infrastructures, including airports and airlines, and uses Idemia's patented biometric capture technologies recognized by the National Institute of Standards and Technology (NIST). Passengers can enroll in the system using their mobile devices from home by scanning their state ID or passport and taking a selfie for verification. Once enrolled, travelers can use biometrics to navigate through the airport seamlessly, from check-in to boarding.
How Is The Global Travelers Identity Protection Services Market Segmented?
The travelers identity protection services market covered in this report is segmented -
1) By Type: Credit Card Fraud, Bank Fraud, Phone Fraud
2) By Booking Type: Online Booking, Direct Booking, Phone Booking
3) By Age Group: Below 15 Years, 16 To 25, 26 To 35, 36 To 45, 46 To 55, Above 55
4) By Consumer Orientation: Men, Women, Children
5) By Tourist Type: Domestic, International
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How Is The Competitive Landscape Of The Global Travelers Identity Protection Services Market?
Major companies operating in the travelers identity protection services market are Costco Wholesale Corporation, USAA Identity Theft Protection, TransUnion LLC, NortonLifeLock, Kroll Identity Monitoring, Aura, Credit Karma Identity Monitoring, Bankrate LLC, ID Experts, Zander Insurance, Credit Sesame, PrivacyGuard, Sontiq Inc, ID Watchdog, IDShield, ProtectMyID, ID Theft Assist, Cyberscout, IdentitySecure, ReliaShield, IDStrong, IdentityIQ, IdentityHawk
Contents Of The Global Travelers Identity Protection Services Market
1. Executive Summary
2. Travelers Identity Protection Services Market Report Structure
3. Travelers Identity Protection Services Market Trends And Strategies
4. Travelers Identity Protection Services Market - Macro Economic Scenario
5. Travelers Identity Protection Services Market Size And Growth
…..
27. Travelers Identity Protection Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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