The travelers identity protection services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Travelers Identity Protection Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The travelers identity protection services market size has grown strongly in recent years. It will grow from $8.64 billion in 2023 to $9.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increasing demand for mobile-based solutions, rising trends among travelers, rising online transactions, rising adoption of mobile devices, and growing business travel spending.
The travelers identity protection services market size is expected to see strong growth in the next few years. It will grow to $12.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to growing social illness, growing use of cybersecurity, growing digitalization initiatives, increasing use of online security services, and growing demand for personalized services. Major trends in the forecast period include the adoption of AI and machine learning, demand for comprehensive solutions, integration with mobile and digital wallets, expansion of services to emerging markets, and a focus on consumer education.
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Scope Of Travelers Identity Protection Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growing number of online scams and frauds is expected to significantly boost the demand for travelers’ identity protection services in the near future. Online scams and frauds encompass deceptive practices conducted over the internet aimed at stealing money, personal information, or other assets from individuals or organizations. The prevalence of these scams is on the rise due to increased digital activity and the evolving sophistication of cybercriminal tactics. Travelers’ identity protection services help mitigate the effects of these online scams and frauds by offering tools and support to safeguard personal information and detect fraudulent activities. For instance, in March 2023, the Internet Crime Complaint Center (IC3), a U.S.-based central hub for reporting cybercrime, reported that investment fraud complaints surged by 127%, escalating from $1.45 billion in 2021 to $3.31 billion in 2022. Additionally, cryptocurrency investment fraud witnessed an even more significant rise of 183%, increasing from $907 million to $2.57 billion during the same period. Thus, the rising incidence of online scams and frauds is driving the demand for travelers’ identity protection services, with continued growth projected through 2024 and into 2028.
Market Trends –
Major companies operating in the traveler identity protection services market are focusing on developing advanced solutions, such as biometric technology, to enhance passenger identification and improve security. Biometric technology refers to the use of unique biological traits, such as fingerprints, facial recognition, or iris scans, to verify and authenticate a traveler’s identity efficiently and securely. For instance, in January 2022, Idemia, a France-based cryptography and biometrics technology company, launched ID2Travel, an innovative traveler identity platform, in North America. This platform enhances the travel experience by using identity management and biometric identification, ensuring efficient, secure, and frictionless travel. ID2Travel can be integrated into various travel infrastructures, including airports and airlines, and uses Idemia’s patented biometric capture technologies recognized by the National Institute of Standards and Technology (NIST). Passengers can enroll in the system using their mobile devices from home by scanning their state ID or passport and taking a selfie for verification. Once enrolled, travelers can use biometrics to navigate through the airport seamlessly, from check-in to boarding.
The travelers identity protection services market covered in this report is segmented –
1) By Type: Credit Card Fraud, Bank Fraud, Phone Fraud
2) By Booking Type: Online Booking, Direct Booking, Phone Booking
3) By Age Group: Below 15 Years, 16 To 25, 26 To 35, 36 To 45, 46 To 55, Above 55
4) By Consumer Orientation: Men, Women, Children
5) By Tourist Type: Domestic, International
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Regional Insights –
North America was the largest region in the travelers identity protection services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the travelers identity protection services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Costco Wholesale Corporation, USAA Identity Theft Protection, TransUnion LLC, NortonLifeLock, Kroll Identity Monitoring, Aura, Credit Karma Identity Monitoring, Bankrate LLC, ID Experts, Zander Insurance, Credit Sesame, PrivacyGuard, Sontiq Inc, ID Watchdog, IDShield, ProtectMyID, ID Theft Assist, Cyberscout, IdentitySecure, ReliaShield, IDStrong, IdentityIQ, IdentityHawk
Table of Contents
1. Executive Summary
2. Travelers Identity Protection Services Market Report Structure
3. Travelers Identity Protection Services Market Trends And Strategies
4. Travelers Identity Protection Services Market – Macro Economic Scenario
5. Travelers Identity Protection Services Market Size And Growth
…..
27. Travelers Identity Protection Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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