Market Research Future published a research report on “Fraud Detection and Prevention Industry Research Report - Global Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Fraud Detection and Prevention Industry Research Report: By Solution (Fraud Detection, Authentication, Data Synthesis), Service (Professional Service, Managed Service), Application (Insurance Claims, Money Laundering, Electronic Payment), Organization Size (SME, Large Enterprises), Vertical, Region - Forecast till 2027
Fraud Detection and Prevention Industry can be segmented on the basis of region these include North America, Europe, Asia-Pacific and Rest of the World. North America fraud detection and prevention market is growing owing to the increasing number of fraudulent activities in the region. Fraud rate in terms of revenue has decreased but the whole fraud incidents have increased considerably in recent years. The enormous increase in the volume of data handled by enterprises has led to the adoption of fraud detection and prevention solutions to protect critical data from attacks.
The Fraud Detection and Prevention Industry is growing rapidly over 15% of CAGR and is expected to reach at USD 34 billion by the end of forecast period.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Fraud Detection and Prevention Market Research Report -Forecast to 2023”.
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Fraud Detection and Prevention Industry Segmentation
The Fraud Detection and Prevention Industry has been segmented on the basis of application. The application segment includes electronic payment. Electronic payment fraud is becoming increasingly sophisticated, with increasing number of cybercrimes, cybercriminals are frequently using multiple channels and payment methods to attack customer’s accounts. The key methods to reduce electronic payment fraud risks across all channels includes analytics and predictive modeling. Data analytics effectively incorporate a range of transaction, institutional and customer-level data to understand each customer’s normal payment behaviors. This includes the frequency, velocity and size of the payments that are made, and through which channels, such as online or mobile, the users typically initiate electronic payments.
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.
By region, the global fraud detection and prevention market is segmented into Asia Pacific, North America, Europe and Rest of the World. The North America market accounts for the maximum share of the global market. The concentration of global leaders in fraud detection and prevention in the region and the initiatives undertaken by them to strengthen foothold in the market will drive demand generation. Furthermore, Canada holds the first spot in the list of cashless economies with the U.S. also contributing significantly towards the adoption of non-cash payments in the region. The presence of developed cashless economies such as Sweden and the U.K. will fuel the growth of fraud detection and prevention market in Europe.
Asia-Pacific region will exhibit a steep rise in the growth of fraud detection and prevention market. The factors contributing towards the market expansion in the region include the presence of emerging economies, such as India and China, which are rapidly implementing FDP solutions. The growth in fraudulent activities in online payments will fuel the demand for fraud detection and prevention solutions in the region. Furthermore, the countries in the region are increasing inclination towards cashless transactions; for instance, Vietnam has announced its initiative about becoming 90% cashless retail economy by 2020. The growth of the global market will favor the market proliferation in Rest of the World region.
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Table Of Contents
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
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