The Identity Theft Protection Services industry, which provides monitoring and protection services to business and individual clients, has contracted over the past five years. While an increasing number of high-profile data breaches has thrust identity theft protection into the national spotlight and mobile and online commerce explosions have created more opportunities for theft, rising competition has curtailed industry revenue growth. However, this is the result of rising consumer awareness tools, such as real-time mobile and online banking updates and fraudulent charge alerts from banks. As consumers have drifted away from the once-nondiscretionary industry services and toward free alternatives, industry revenue has fallen. However, slow growth is expected over the five years to 2022. This growth will be stimulated by the increasing amount of personal information shared over the internet and mobile devices, as well as the addition of value-added services by industry operators.
Companies in this industry primarily provide software and services aimed at reducing the risk of identity theft from online or electronic media. Firms frequently use monitoring software to track unauthorized use of credit and other personal information.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.