Increasing Internet Financial Transactions to Drive Market Growth
Additionally, it examines the regional developments and the strategies undertaken by the market's key players.Ĭlick here to get the short-term and long-term impact of COVID-19 on this market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. The report provides a detailed analysis of the top segments and the latest trends in the market. High Costs Associated with Identity Protection Services Might to Impede Identity Theft Protection Services Market Growth Rising Internet-based Financial Transactions to Necessitate Identity Theft Protection Services Deployment Report Scope & Segmentation - Report Coverage Fair Isaac Corporation (California, U.S.).LexisNexis Risk Solutions (Georgia, U.S.).Regionally, it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.Ĭompanies Profiled in the Global Identity Theft Protection Services Market Based on application, it is bifurcated into enterprise and consumer. These factors may propel market development during the pandemic.īy type, the market is segmented into credit card fraud, bank fraud, utility or phone fraud, and tax or employment-related fraud. Moreover, the adoption of work-from-home culture fueled the adoption of the service. Further, the shutdown of online retail stores led to the adoption of e-commerce platforms, thereby increasing the demand for effective data protection services from the audiences. The sudden spike in COVID cases forced businesses to adopt digital platforms to run their businesses. The COVID-19 pandemic will have a positive impact on the identity theft protection services market growth because of the rapid shift to digitization. Rising Shift to Digitization to Propel Market Development These factors may boost market development during the pandemic. Furthermore, increasing identity thefts in government and public sectors may facilitate adopting protection services.
The shift of businesses to online platforms facilitates the adoption of effective identity theft protection services, thereby boosting demand.
The rising risks of cybersecurity may propel the demand for the product from business organizations. The spike in digitalization and communications of businesses has boosted cyberattack risks and introduced a range of new risks to organizations. Fortune Business Insights™ mentions this information in its report titled “ Identity Theft Protection Services Market, 2022-2029.” Increasing cybersecurity and identity theft risks in government and public sectors to boost the market growth. The market is expected to grow from USD 11.39 billion in 2022 to USD 27.90 billion by 2029, exhibiting a CAGR of 13.7% during the forecast period. Pune, India, Ma(GLOBE NEWSWIRE) - The global identity theft protection services market size was USD 10.07 billion in 2021.
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