Wednesday, July 25, 2018
Identity Theft Protection Services Market Analysis, Industry Share, Size, Strategies and Forecast with Upcoming Trends 2018
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According to a new market research report
published by Credence Research “Identity
Theft Protection Services Market (Identity Theft Type – Credit
Card Fraud, Employment or Tax Related Fraud, Phone or Utility Fraud and Bank
Fraud; End User Application Type – Consumer and Enterprises) Market – Growth,
Future Prospects and Competitive Analysis, 2018 - 2026”, the global identity
theft protection services market expected to surpass US$ 21.23 Bn in 2026,
expanding at a CAGR of 14.2% from 2018 to 2026.
Browse the full report at: http://www.credenceresearch.com/report/identity-theft-protection-services-market
Market Insights
Identity theft involves stealing personal
information to impersonate a person’s identity. The stolen data may not only be
used for personal gain but also be sold on the online black market, further
creating sever damages. Identity theft includes hacking of wide array of
information including social security identity, financial details, child
identity, criminal identity, medical records and few others. Such identity
theft results into severe financial as well as personal damage making it one of
the most serious concerns faced by consumers as well as enterprises worldwide.
This is primarily supported due to rapidly increasing amount of public records
(such as financial information) being exposed over the internet. In the U.S.,
identity theft has emerged as the fastest growing crime over the period.
Subsequently, identity theft protection services is expected to continue
witnessing promising growth over the forecast period.
The overall identity theft protection services
market is highly driven by the continually growing instances of identity theft
across the world. On an average, business enterprises worldwide bear a loss of
over US$ 200 Bn every year due to identity theft. On the other hand, consumers
lose more than US$ 16 Bn due to identity theft every year. Consistently growing
number of identity theft instances can be attributed to the rapidly growing
penetration of internet services worldwide. Wide array of public records
including motor vehicle records, professional & business licenses, court
files, property details and several others are posted on government websites,
making them more vulnerable to data breach. Due to growing emphasis by the
national governments worldwide towards electronic IDs, instances of identity
theft and data breach may rise at an alarming rate over the following years.
This is further expected to generate substantial demand for related identity
theft protection services in the years to come.
In addition, vital factor driving identity
theft protection services market is continually growing online payment mode
worldwide along with associated frauds. With flourishing e-commerce sector,
online payment has witnessed widespread growth over the period. Online payment
constitute nearly 2/3rd of the total payment made in e-commerce transactions.
Of the total online payment frauds, over 60% of the total instances are
channeled through e-commerce transactions. Due to factors such as growing
internet user penetration and adoption of e-commerce services, identity theft
from the sector is expected to continue rising, thereby driving the market
growth.
Strategic partnerships and alliances is one of
the common strategy adopted by identity theft protection services providers.
Private and public organizations are forming alliances with other companies to
strengthen its market presence. For instance, recently in May 2018, Experian
PLC entered into a partnership with a non-profitable organization, Small
Business Financial Exchange, Inc. (SBFE). The company aimed to capitalize over
the growing sector of small and medium scale business division with this
partnership.
Request Sample: http://www.credenceresearch.com/sample-request/59218
Browse Here For Full Report: http://www.credenceresearch.com/report/identity-theft-protection-services-market
About Us
Credence Research is a worldwide market research and
counseling firm that serves driving organizations, governments, non-legislative
associations, and not-for-benefits. We offer our customers some assistance with
making enduring enhancements to their execution and understand their most
imperative objectives. Over almost a century, we've manufactured a firm
extraordinarily prepared to this task.
Contact Us:
Credence
Research Inc.
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SAN JOSE
CA 95103
United States
Toll Free (US/CANADA): +1-800-361-8290105 N 1st ST #429
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United States
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