Press release
Travelers Identity Protection Services Market Anticipated To Witness Robust Growth, Surpassing $14.03 Billion By 2029
Travelers Identity Protection Services
What Is the Current Travelers Identity Protection Services Market Size and Its Estimated Growth Rate?
The travelers identity protection services market is expected to grow from $9.36 billion in 2024 to $10.17 billion in 2025 at a CAGR of 8.7%. The growth is linked to the rising demand for mobile-based solutions, increasing trends among travelers, more online transactions, the widespread adoption of mobile devices, and the growth of business travel spending.
The travelers identity protection services market is expected to reach $14.03 billion by 2029 at a CAGR of 8.4%. The increasing use of cybersecurity, digital services, and a growing focus on personalized services contribute to this growth. Trends include AI and machine learning adoption, the expansion of services to emerging markets, and integration with mobile wallets, alongside efforts in consumer education.
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How Are Emerging Segments Shaping the Travelers Identity Protection Services Market Landscape?
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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Which Growth Factors Are Influencing Travelers Identity Protection Services Market Expansion?
The rise in online sca*ms and frauds is expected to accelerate the growth of the travelers' identity protection services market. Online sca*ms, which involve deceptive practices to steal money or personal data, are increasing due to higher digital activity and sophisticated cybercriminal techniques. Identity protection services are essential for safeguarding personal information and preventing fraud. For example, a report by the Internet Crime Complaint Center in March 2023 showed a 127% increase in investment fraud complaints from 2021 to 2022, with cryptocurrency investment fraud rising by 183%, signaling the growing need for identity protection services in the travel sector.
Who Are the Dominant Players Across Different Travelers Identity Protection Services Market Segments?
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
What Are the Latest Developing Trends in the Travelers Identity Protection Services Market?
Companies in the traveler identity protection services market are developing advanced solutions like biometric technology to enhance identification and security. Biometric systems use unique biological traits, such as fingerprints or facial recognition, to verify a traveler's identity. For instance, in January 2022, Idemia, a France-based biometric technology company, launched ID2Travel, a platform that integrates biometric identification for secure and efficient travel. The system allows passengers to enroll using their mobile devices and use biometrics to seamlessly navigate through airports.
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Which Geographic Regions Are Expected to Dominate the Travelers Identity Protection Services Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Travelers Identity Protection Services Market?
2. What is the CAGR expected in the Travelers Identity Protection Services Market?
3. What Are the Key Innovations Transforming the Travelers Identity Protection Services Industry?
4. Which Region Is Leading the Travelers Identity Protection Services Market?
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