The id theft protection market outlook is anticipated to achieve a Compound Annual Growth Rate (CAGR) of 13.06% during the period of 2020-2028. The “Global Identity Theft Protection Services Market Outlook 2028” report from ResearchAndMarkets.com‘s is out.
Identity Theft Protection Services refers to varying services giving people protection and peace of mind against identity theft and fraud. Services can include credit monitoring, ID theft monitoring, and other services that help you if you been targeted.
Factors of growth.
Additionally, increasing concerns for cyber crimes and identity thefts that has increased significantly in recent years. These, along with the fear of mishandling important data, is raising the need to increasingly adopt identity theft protection services. All are anticipated to drive the growth of the global identity theft protection services market.
The global identity theft protection services market consists of various segments. These segments include type, services, end-user, and region. The theft type segment is further divided into monitoring services and identity recovery & identity theft insurance services. Among these segments, the monitoring services registered the largest share along with a value of around USD 3000 million in the year 2019.
Additionally, the segment is anticipated to cross a value of around USD 8600 million by growing at a CAGR of around 13% during the forecast period. The monitoring services segment is further divided into credit monitoring and identity monitoring. Out of these, the identity monitoring segment registered the largest market share and is further anticipated to grow at a CAGR of around 12% during the forecast period.
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