Identity crisis: High-profile data breaches spur moderate demand for industry services

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...purchase to read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
-1.4%
Forecast Growth 17-22
Profit
Employment
6,424
Businesses
100

Industry Threats & Opportunities

  • The proliferation of the internet into nearly all financial activities has bolstered demand
  • Several high-profile hacking incidents have spurred demand for identity theft protection services
  • Demand for identity protection will rise due to consumers’ greater ability to afford industry services
  • Industry Report - Industry Locations Chapter

    The Identity Theft Protection Services industry is highly technologically intensive and tends to cluster near areas where there is an opportunity to attract software engineers. As a result, industry operators locate near top universities and in areas where there are other software companies. Additionally, the ease of collaborating across borders using the internet means that geographical locations have become increasingly insignificant for the majority of industry firms. Population trends and regulatory requirements also determine the location of industry operators.The Southeast has the highest concentration of companies, accounting for 21.6% of industry establishments; similarly, the region accounts for 25.6% of the population. The...purchase to read more.

    Additional Insights for the Identity Theft Protection Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Identity Theft Protection Services Industry are

  • Undertaking technical research and development
  • Access to highly skilled workforce
  • Having a good reputation
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Percentage of services conducted online in the Identity Theft Protection Services industry impact industry performance..

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    What's in this report

    What is the Identity Theft Protection Services Industry?

    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.

    Industry Products
  • Credit card number protection
  • Debit card number protection
  • Social security number protection
  • Checking account number protection
  • Industry Activities
  • Credit monitoring
  • Identity theft threat assessment
  • Identity theft response
  • Identity theft insurance
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Percentage of services conducted online
  • Private investment in computers and software
  • Number of mobile internet connections

  • Current Performance
  • Large-scale identity attacks
  • Internet and mobile use and competing factors
  • Economic effects and consolidation
  • Chart: Revenue Growth

  • Industry Outlook
  • Internet and mobile use
  • Large-scale identity attacks
  • Economic effects and consolidation
  • Table: Identity Theft Protection Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Identity Theft Protection Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Insurance Brokers & Agencies
  • Reinsurance Carriers
  • Third-Party Administrators & Insurance Claims Adjusters

  • Products & Services
  • Credit card number protection
  • Debit card number protection
  • Social security number protection
  • Checking account number protection
  • Chart: Identity Theft Protection Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers with annual incomes above $75,000
  • Consumers with annual incomes between $25,000 and $49,999
  • Consumers with annual incomes between $50,000 and $74,999
  • Consumers with annual incomes below $25,000
  • Businesses
  • Chart: Major Market Segmentation for the Identity Theft Protection Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Additional expenses
  • Chart: Cost Structure Benchmarking – Sector vs Identity Theft Protection Services

  • Basis of Competition
  • External Competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Identity Theft Protection Services Industry

  • Industry Globalization
    LifeLock, Intersections Inc.,
  • Table: LifeLock - financial performance
  • Table: Intersections Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Identity Theft Protection Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Identity Theft Protection Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Percentage of services conducted online (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Hacker
  • A person who takes advantages of weaknesses in computer networks to gain access to confidential data.
  • Identity Fraud
  • Occur when stolen personal information is used to open accounts in the victim's name or makes purchases using said accounts without permission.
  • Identity Theft
  • A form of stealing someone's identity in which someone pretends to be someone else by assuming that person's identity.
  • Mobile Alert
  • Text messages or emails that alert clients of potential identity theft threats.
  • Point-Of-Sale System
  • The system where a transaction occurs in exchange for goods or services.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Identity Theft Protection Services can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Identity Theft Protection Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Identity Theft Protection Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Identity Theft Protection Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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