Identity Theft Insurance Market to Reach $2.09 Bn, Globally, by 2030 at 14.2% CAGR: Allied Market Research

PORTLAND, Ore., Feb. 9, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Identity Theft Insurance Market By Type (Credit Card Fraud, Employment Or Tax-Related Fraud, Phone Or Utilities Fraud, Bank Fraud and Others) and Application (Individuals and Business): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global identity theft insurance industry generated $0.57 billion in 2020, and is anticipated to generate $2.09 billion by 2030, witnessing a CAGR of 14.2% from 2021 to 2030.

Download Sample Report (Get Full Insights in PDF - 232 Pages) @ https://www.alliedmarketresearch.com/request-sample/12352

Prime Determinants of growth

Surge in adoption of digital payments, rise in cybercrimes, and increase in the number of credit card users drive the growth of the global identity theft insurance market. However, lack of awareness among consumers hinders the market growth. On the other hand, growth in digitalization in developing countries and increase in number of users on online platform present new opportunities in the coming years.

Covid-19 Scenario

• The outbreak of the COVID-19 pandemic has had a significant impact on the identity theft insurance, owing to increase in usage and adoption of online & digitalized platforms among consumers globally.
• Identity theft insurance cost are experiencing massive growth as consumers are getting familiar with the risks related with electronic identification technologies in the market.  

The Credit Card Fraud Segment to Maintain its Leadership Status throughout the Forecast Period

Based on type, the credit card fraud segment held the highest market share in 2020, accounting for nearly two-fifths of the global identity theft insurance market, and is estimated to maintain its leadership status throughout the forecast period. The increase in cases of credit card fraud owing to digitization is proving beneficial for the growth of identity theft insurance market. Moreover, the bank fraud segment is projected to manifest the highest CAGR of 18.6% from 2021 to 2030, owing to rise in digital usage in the banking industry.

Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/12352

The Individuals Segment to Maintain its Lead Position during the Forecast Period

Based on application, the individuals segment accounted for the largest share in 2020, contributing to more than half of the global identity theft insurance market, and is projected to maintain its lead position during the forecast period. This is due to rise in cases for the personal data theft on social media. However, the business segment is expected to portray the largest CAGR of 15.5% from 2021 to 2030. While imitating a company's letterhead or sending forged communications are traditional approaches, newer and more sophisticated methods are being developed. As a result, the demand for identity insurance have been surged in recent years by business firms.  

North America to Maintain its Dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global identity theft insurance market, owing to developed digitalized platform. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 17.8% during the forecast period. This is attributed to the continued high speed of digital adoption, along with a rapidly increasing digital ecosystem.

Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @  https://www.alliedmarketresearch.com/request-for-customization/12352?reqfor=covid

Leading Market Players

• Allstate Insurance Company
• Aura
• Chubb
• Experian
• GEICO
• IdentityForce, Inc.
• IDShield
• McAfee, LLC
• NortonLifeLock In
• Nationwide Mutual Insurance Company

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Auto Insurance Market Estimated to Grow $1.06 Trillion By 2027

Two-Wheeler Insurance Market Expected to Reach $171.88 Billion by 2030

Mobile Phone Insurance Market Expected to Reach $76.10 Billion By 2030

Pre-Book Now with 10% Discount:

Shop Insurance Market: Global Opportunity Analysis and Industry Forecast 2021-2030

AI in Insurance Market: Global Opportunity Analysis and Industry Forecast 2021-2030

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact: David Correa5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn and Twitter

View original content:https://www.prnewswire.com/news-releases/identity-theft-insurance-market-to-reach-2-09-bn-globally-by-2030-at-14-2-cagr-allied-market-research-301478629.html

SOURCE Allied Market Research