Market Research Future published a research report on “Fraud Detection and Prevention Industry Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Insight
Data leakage and fraudulent attacks have become common phenomena, which explains the growing adoption of fraud detection and prevention solutions. Sectors, such as BFSI and military, those deal with sensitive data are victims of con attacks. Thus, the adoption of preventive measures is high in these sectors. In recent times, digital data is any enterprises’ assets, thus making dupe easy. Thus, the need for fraud detection is growing. These factors can cause the global Fraud Detection and Prevention Industry to value at USD 139,853.2 Mn, at 25.2% CAGR by 2027.
Key Players:
The prominent players in the Fraud Detection and Prevention Industry are – IBM Corporation (U.S.),Oracle Corporation (U.S.), Fico (Brazil), SAS Institute Inc. (U.S.), SAP SE (Germany), Computer Sciences Corporation (U.S.), BAE Systems (U.K.), ACI Worldwide (U.S.), Fiserv Inc. (U.S.), Threatmetrix (U.S.) among others.
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Fraud Detection and Prevention Market Segmentation
The market of Fraud Detection and Prevention Industry was studied based on service, solution, organization size, application, and vertical.
The solution-based segments of the fraud detection and prevention market are authentication, fraud detection, and data synthesis. The fraud detection discipline is highly appreciated across different sectors. The rise in need to analyze vulnerabilities and detect anomalies in data ecosystem of a market is promoting the adoption of fraud detection analytics across different sectors.
The services-based segments of the fraud detection and prevention market are managed service and professional service. The high demand for professional services can induce expansion for the global market of fraud detection and prevention.
The application-based segments of the fraud detection and prevention market are money laundering, insurance claims, electronic payment, and others. The need to secure insurance claims, increase in electronic transactions, and need for the prevention of money laundering cases can impel the expansion of the market.
The organization size-based segments of the fraud detection and prevention market are small & medium enterprises and large enterprises. The emergence of startups and their high rate of adopting fraud detection and prevention solutions can boost the expansion of the global
The vertical-based segments of the fraud detection and prevention market are retail, BFSI, government, telecommunication, real estate, healthcare, manufacturing, energy & power, media & entertainment, travel & transportation, and others. The BFSI vertical is the high end-user of fraud detection and prevention solutions. Thus, BFSI segment is expected to hold the largest share of the global market.
Regional Analysis:
MRFR analysis states that North America fraud detection and prevention market is likely to hold the pole position across the assessment period. By 2023, Europe fraud detection and prevention market can attain valuation of USD 4,039.6 Mn at 23.4% CAGR. In Asia Pacific, the fraud detection and prevention market can surge at 28.1% CAGR through the review period.
The adoption of AI, machine learning, and IoT to combat increasing cases of fraud detection and preservation can bolster the expansion of the North America market. In Europe, the integration of fraud detection and prevention solutions in IT companies can surge the region market. In Asia Pacific, digitalization and increase in online activities can impel the market expansion through the review period.
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Table Of Contents
List Of Figures
Figure 1 Research Type
Figure 2 Fraud Detection And Prevention Market: By Solution (%)
Figure 3 Fraud Detection And Prevention Market: By Service (%)
Figure 4 Fraud Detection And Prevention Market: By Application (%)
Figure 5 Fraud Detection And Prevention Market: By Vertical (%)
Figure 6 Fraud Detection And Prevention Market: By Region (%)
Figure 7 North America Fraud Detection And Prevention Market, By Solution (%)
Figure 8 North America Fraud Detection And Prevention Market, By Service (%)
Figure 9 North America Fraud Detection And Prevention Market, By Application (%)
Figure 10 North America Fraud Detection And Prevention Market, By End-User (%)
Figure 11 North America Fraud Detection And Prevention Market, By Vertical (%)
Figure 12 Europe Fraud Detection And Prevention Market, By Solution (%)
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