United Kingdom identity theft protection services market is anticipated to witness a growth of steady CAGR in the forecast period, 2023-2027. The growing popularity of online payments and e-commerce channels owing to the high-speed internet penetration and proliferation of smart devices among consumers are the primary factors driving the demand for the United Kingdom identity theft protection services market through the forecast period. Also, the digitization initiatives are taken by the government to increase transparency and maintain records more efficiently. The need for advanced solutions to counter cyber threats and malicious attacks is expected to influence further the demand for the United Kingdom identity theft protection services market in the next five years.
Increased demand for Online Payment Gateways Drives the Market Growth
Consumers have shifted towards online payment services as they are highly convenient to use, and the payment is completed within seconds. Shopkeepers actively encourage the customers to use online payments as all the transaction records are automatically made and saved in the software or application. It eliminates the need to keep changes and physical notes which may get damaged in rainfall or any adverse weather condition. Also, the trend of online payment has scaled up in the coming years as the banks have started offering discounts and rewards for making payments using their banks' cards. The financial institutions have started to offer mobile-based applications to help the customers monitor their account transactions easily and lower fraudulent activities.
The shift toward online platforms has increased the number of data breaches in the last few years. Identity theft protection solutions mask important data, monitor personal data, and track unauthorized personnel's activity. Therefore, the need to secure data and enhance customer satisfaction by organizations is expected to accelerate the growth of United Kingdom identity theft protection solutions in the forecast period.
Rise in use of Electronic IDs Accelerates the Market Demand
Private and public institutions have started to use electronic records to give access to employees on the office premises. Electronic identity cards are the most common technology trends adopted by the industries. Digital identity has transformed the way individuals work in organizations and has increased the security on the official premises. The government has emphasized the importance of electronic identity cards to lower the occurrence of data breaches and identity thefts. Market players are providing advanced security solutions to the end-users and using advanced technologies, which is expected to fuel the demand for the United Kingdom identity theft protection services market in the forecast period.
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Market Segmentation
The United Kingdom identity theft protection services market is segmented into type, application, regional distribution, and competitive landscape. Based on type, the market is divided into credit card fraud, bank fraud, phone or utility fraud, employment/tax related fraud. Based on application, the market is bifurcated into consumer and enterprise. United Kingdom identity theft protection services market is studied in major regions namely London, Southeast, East Anglia, Scotland, Southwest, East Midlands, Yorkshire & Humberside, and rest of United Kingdom.
Market Players
Experian Information Solutions, Inc., Equifax, Inc., NortonLifeLock Inc., LexisNexis Risk Solutions Group, Identity Force, Inc., AllClear ID, Identity Intelligence Group LLC, ADT Inc., Fair Isaac Corporation, McAfee, LLC, are the major market players operating in the United Kingdom identity theft protection services market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Type · Application |
| Regional scope | London, Southeast, East Anglia, Scotland, Southwest, East Midlands, Yorkshire & Humberside, Rest of United Kingdom |
| Key companies profiled | Experian Information Solutions, Inc., Equifax, Inc., NortonLifeLock Inc., LexisNexis Risk Solutions Group, Identity Force, Inc., AllClear ID, Identity Intelligence Group LLC, ADT Inc., Fair Isaac Corporation, McAfee, LLC |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
