Industry Analysis & Industry Trends
The Identity Theft Protection Services industry has experienced slow but steady growth over the past five years, driven by the economic recovery, the introduction of m-commerce and the rise of e-commerce and social media. Additionally, high-profile data breaches in recent years have raised awareness of identity theft protection and spurred greater demand for industry services. As the internet becomes increasingly important in financial transactions, and as more and more personal information comes to be stored on mobile phones, the industry is expected to continue its moderate expansion over the next five years. Over this period, however, industry operators may face more stringent regulation in response to alleged misrepresentations of their services.... purchase to read more
Industry Report - Starting a New Business Chapter
The Identity Theft Protection Services industry faces low barriers to entry, but high barriers to success. Some services offered by identity theft protection services companies such as the software-based credit monitoring are easier for new entrants to undertake. Additionally, startup costs for identity theft protection companies are low, consisting largely of capital investments in computers and software to monitor threats. The market, however, is competitive among product lines and new entrants must compete with larger companies that have established brand name recognition.
However, insurance services have a moderate level of regulation that differs by region... purchase to read more