Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) — The “Travelers Identity Protection Services Market Report 2024” has been added to ResearchAndMarkets.com’s offering.
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 during the historic period can be attributed to the rising demand for mobile-based solutions, increasing trends among travelers, growing online transactions, higher adoption of mobile devices, and expanding 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 anticipated growth during the forecast period can be attributed to the rise in social illness, increased use of cybersecurity measures, expanding digitalization efforts, greater utilization of online security services, and a higher demand for personalized services.
Key trends expected during this period include the adoption of AI and machine learning, a demand for comprehensive solutions, integration with mobile and digital wallets, expansion of services into emerging markets, and a focus on consumer education.
The increasing number of online scams and frauds is expected to drive the growth of the travelers’ identity protection services market. Online scams and frauds involve deceptive practices conducted over the internet to steal money, personal information, or other assets from individuals or organizations. The rise in these scams is attributed to increased digital activity and the growing sophistication of cybercriminal tactics. Travelers’ identity protection services help address the impact of this rise by offering tools and support to protect personal information and detect fraudulent activities. For example, in March 2023, the Internet Crime Complaint Center (IC3), a US-based hub for reporting cybercrime, reported a 127% increase in investment fraud complaints, growing from $1.45 billion in 2021 to $3.31 billion in 2022. Cryptocurrency investment fraud experienced an even more significant rise of 183%, jumping from $907 million to $2.57 billion during the same period. Thus, the growing prevalence of online scams and frauds is fueling the demand for travelers’ identity protection services.
Major companies in the traveler identity protection services market are concentrating on developing advanced solutions, such as biometric technology, to enhance passenger identification and improve security. Biometric technology involves using unique biological traits, such as fingerprints, facial recognition, or iris scans, to efficiently and securely verify and authenticate a traveler’s identity. For example, in January 2022, Idemia, a France-based company specializing in cryptography and biometrics technology, launched ID2Travel, a groundbreaking traveler identity platform in North America. This platform improves the travel experience by leveraging identity management and biometric identification to ensure efficient, secure, and smooth travel. ID2Travel can be integrated into various travel infrastructures, including airports and airlines, and utilizes Idemia’s patented biometric capture technologies, which are recognized by the National Institute of Standards and Technology (NIST). Passengers can enroll in the system from home using their mobile devices by scanning their state ID or passport and taking a selfie for verification. Once enrolled, travelers can use biometric technology to navigate through the airport seamlessly, from check-in to boarding.
In May 2023, Onfido, a UK-based technology company, acquired Airside Mobile Inc. for an undisclosed amount. This acquisition positions Onfido to take a leading role in the evolving digital identity sector, offering innovative solutions that cater to the needs of both consumers and businesses while addressing the challenges of identity verification in a digital-first world. Airside Mobile Inc., a US-based digital identity network company, provides travelers with identity protection services through its cutting-edge digital identity solutions.
Major companies operating in the travelers identity protection services 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.
Report Scope
Markets Covered:
- By Type: Credit Card Fraud; Bank Fraud; Phone Fraud
- By Booking Type: Online Booking; Direct Booking; Phone Booking
- By Age Group: Below 15 Years; 16 To 25; 26 To 35; 36 To 45; 46 To 55; Above 55
- By Consumer Orientation: Men; Women; Children
- By Tourist Type: Domestic; International
Key Companies Mentioned: Costco Wholesale Corporation; USAA Identity Theft Protection; TransUnion; NortonLifeLock; Kroll Identity Monitoring
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $9.36 Billion |
| Forecasted Market Value (USD) by 2028 | $12.96 Billion |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Travelers Identity Protection Services Market Characteristics
3. Travelers Identity Protection Services Market Trends and Strategies
4. Travelers Identity Protection Services Market – Macro Economic Scenario
5. Global Travelers Identity Protection Services Market Size and Growth
5.1. Global Travelers Identity Protection Services Market Drivers and Restraints
5.2. Global Travelers Identity Protection Services Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Travelers Identity Protection Services Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Travelers Identity Protection Services Market Segmentation
6.1. Global Travelers Identity Protection Services Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.2. Global Travelers Identity Protection Services Market, Segmentation by Booking Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.3. Global Travelers Identity Protection Services Market, Segmentation by Age Group, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.4. Global Travelers Identity Protection Services Market, Segmentation by Consumer Orientation, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.5. Global Travelers Identity Protection Services Market, Segmentation by Tourist Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7. Travelers Identity Protection Services Market Regional and Country Analysis
7.1. Global Travelers Identity Protection Services Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Travelers Identity Protection Services Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Country Specific Travelers Identity Protection Services Market Analysis
30. Travelers Identity Protection Services Market Competitive Landscape and Company Profiles
30.1. Travelers Identity Protection Services Market Competitive Landscape
30.2. Travelers Identity Protection Services Market Company Profiles
30.2.1. Costco Wholesale Corporation
30.2.2. USAA Identity Theft Protection
30.2.3. TransUnion
30.2.4. NortonLifeLock
30.2.5. Kroll Identity Monitoring
31. Travelers Identity Protection Services Market Other Major and Innovative Companies
31.1. Aura
31.2. Credit Karma Identity Monitoring
31.3. Bankrate LLC
31.4. ID Experts
31.5. Zander Insurance
31.6. Credit Sesame
31.7. PrivacyGuard
31.8. Sontiq Inc
31.9. ID Watchdog
31.10. IDShield
31.11. ProtectMyID
31.12. ID Theft Assist
31.13. Cyberscout
31.14. IdentitySecure
31.15. ReliaShield
32. Global Travelers Identity Protection Services Market Competitive Benchmarking
33. Global Travelers Identity Protection Services Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Travelers Identity Protection Services Market
35. Travelers Identity Protection Services Market Future Outlook and Potential Analysis
35.1 Travelers Identity Protection Services Market in 2028 – Countries Offering Most New Opportunities
35.2 Travelers Identity Protection Services Market in 2028 – Segments Offering Most New Opportunities
35.3 Travelers Identity Protection Services Market in 2028 – Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/xtzqaj
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- Travelers Identity Protection Services Market
