United States & United Kingdom Identity Theft Protection Services Market Outlook 2028

Identity theft protection services are the services that monitor personal information, especially in credit applications, public records, and others, where personal data can be stolen. These monitoring and recovery services regularly access consumer’s credit reports and credit scores and alerts if there is any suspicious activity monitored in the account. The United States identity theft protection services market is estimated to grow with a CAGR of 10.81% during the forecast period, i.e., 2020-2028, whereas, the market in the United Kingdom is anticipated to grow with a CAGR of 14.96% during the forecast period. Factors such as the growing awareness for phishing activities and breach of data amongst the end-users, followed by rising use of electronic identification systems, and the rising number of online transactions in both the nations are anticipated to drive the market growth. The market in the U.S. registered a market revenue of around USD 2200 Million in 2019 and is further projected to reach close to USD 5300 Million by 2028, whereas, the market in the UK registered nearby USD 300 Million in 2019 and is further anticipated to reach about USD 1000 Million by 2028.

The U.S. and UK identity theft protection services market is segmented by numerous segments which include segmentation by theft type, services, and by end-user. Based on theft type, the market is segmented into criminal, financial, governmental, and employment identity thefts, credit card fraud, and others. In the United States, the credit card fraud segment is anticipated to grow with the highest CAGR of close to 12% during the forecast period, whereas the segment in the United Kingdom is anticipated to grow at a CAGR of around 17% during the forecast period and hold the largest market value of about USD 300 Million by the end of 2028.

Some of the players operating in the U.S. and UK identity theft protection services market that are mentioned in our report are Experian Information Solutions, Inc., Equifax, Inc., NortonLifeLock Inc., LexisNexis Risk Solutions Group, IdentityForce, Inc., AllClear ID, Identity Intelligence Group LLC, ADT Inc., Fair Isaac Corporation, and others.