Press release
Global Travelers Identity Protection Services Market Projected to Surpass $14.03 Billion by 2029 with 8.4% Annual Growth
Travelers Identity Protection Services
The rising number of online sca*ms and frauds is expected to drive the growth of the travelers' identity protection services market. Online sca*ms and frauds, which involve deceptive activities aimed at stealing personal information or assets, have been growing due to increased digital activity and more sophisticated cybercriminal tactics. Travelers' identity protection services are essential in mitigating the effects of these sca*ms by providing tools and support to protect personal information and detect fraudulent activities. For example, the Internet Crime Complaint Center (IC3) reported a 127% increase in investment fraud complaints, rising from $1.45 billion in 2021 to $3.31 billion in 2022, with cryptocurrency fraud seeing an even larger rise of 183%. This growing prevalence of online sca*ms is driving the demand for identity protection services for travelers.
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What is the future CAGR of the travelers identity protection services market, and how will it impact industry expansion?
The travelers identity protection services market has experienced strong growth, projected to increase from $9.36 billion in 2024 to $10.17 billion in 2025, at a CAGR of 8.7%. The market's expansion has been driven by increasing demand for mobile-based solutions, changing traveler preferences, rising online transactions, growing adoption of mobile devices, and an increase in business travel spending.
The travelers identity protection services market is expected to see significant growth, reaching $14.03 billion by 2029 at a CAGR of 8.4%. Factors driving this expansion include the increasing prevalence of identity theft, the rising use of cybersecurity solutions, ongoing digitalization efforts, increased reliance on online security services, and growing demand for personalized identity protection. Major trends anticipated in the forecast period include AI and machine learning integration, demand for comprehensive security solutions, the integration of identity protection with mobile and digital wallets, service expansion in emerging markets, and an emphasis on consumer education.
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What are the most significant trends transforming the travelers identity protection services market today?
In the traveler identity protection services market, companies are advancing their offerings with biometric technology to enhance passenger identification and security. Biometric systems use unique biological traits-such as fingerprints, facial recognition, or iris scans-to verify and authenticate travelers efficiently and securely. Idemia, a France-based technology company, launched the ID2Travel platform in January 2022, which integrates biometric identification and identity management. This system allows passengers to enroll from home using their mobile devices, where they scan their state ID or passport and take a selfie. Once enrolled, biometrics can be used to navigate seamlessly through airports, improving efficiency and security in the travel process.
Which key market segments comprise the travelers identity protection services market and drive its revenue growth?
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
Subsegments:
1) By Credit Card Fraud: Card Not Present (CNP) Fraud, Lost Or Stolen Card Fraud, Account Takeover Fraud
2) By Bank Fraud: Unauthorized Transactions, Phishing Sca*ms, Wire Transfer Fraud
3) By Phone Fraud: SIM Swap Fraud, Robocalls And Phishing, Spoofing And Caller ID Manipulation
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What regions are at the forefront of travelers identity protection services market expansion?
North America was the largest region in the travelers identity protection services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the travelers identity protection services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the 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
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What Is Covered In The Travelers Identity Protection Services Global Market Report?
•Market Size Forecast: Examine the travelers identity protection services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the travelers identity protection services market for a structured understanding.
•Key Players Overview: Analyze major players in the travelers identity protection services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the travelers identity protection services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the travelers identity protection services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the travelers identity protection services market.
•Industry Challenges: Identify potential risks and obstacles affecting the travelers identity protection services market.
•Competitive Landscape: Review strategic developments in the travelers identity protection services market, including expansions, agreements, and new product launches.
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