Press release
Fraud Detection and Prevention Market Break Down by Top Companies, Countries, Applications, Challenges, Opportunities and Forecast 2030 | Impacts of COVID-19
The global fraud detection and prevention market is estimated to be over US$24.5 billion in 2019. The market is anticipated to grow at a CAGR of 26% from 2020 to 2030.The global fraud detection and prevention market is driven by growing applications across finance, insurance, and public/government sectors coupled with improved risk protection and reduced overall costs. Surge in the number of private and public companies is further contributing to growth of the fraud detection and prevention market.
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Prominent Players:
Some of the prominent players in the fraud detection and prevention market include Fair Isaac Corporation., IBM, Fiserv, Inc., FIS, ACI Worldwide, Inc., First Data Corporation., BAE Systems., LexisNexis Risk Solutions, Oracle, Dell Inc., and others.
Growing Demands:
Technological advancements have played a vital role in growth of the fraud detection and prevention market. Companies could further benefit from machine-learning-based fraud detection solutions. Machine learning helps data scientists to efficiently determine which transactions are the most likely to be fraudulent while significantly reducing false positives. Such techniques are extremely effective in fraud prevention and detection, as they allow the automated discovery of patterns across large volumes of streaming transactions.
The shift of pace towards electronic transactions has increased significantly. The increasing utilization of electronic payments can create a significant impact on future economic growth in various countries. Some of the common frauds, such as online phishing or spoofing, identity theft, and merchant & triangulation frauds, may occur during online transactions. The only way to prevent organizations from online fraud is to adopt fraud detection and prevention solutions that meet security needs. This is expected to be a key growth driver for the fraud detection and prevention market.
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Segmentation Based On:
BY SOLUTION -
Fraud Analytics
Authentication
Governance, Risk, and Compliance
Others
BY SERVICE -
Managed Services
Professional Services
BY APPLICATION -
Identity Theft
Money Laundering
Payment Fraud
Others
BY DEPLOYMENT MODE -
Cloud
On-Premises
BY INDUSTRY VERTICAL -
Banking, Financial Services, and Insurance (BFSI)
IT & Telecommunication
Retail
Healthcare
Energy and Power
Others
Regional Segmentation:
North America dominated the global fraud detection and prevention market. The presence of several key players coupled with the early adoption of various technologies, including AI, the IoT, and machine learning for fraud detection has contributed to the enormous market growth in this region. For instance, in November 2019, FIS, a global leader on financial services technology integrated with IBM Fraud Detection Solution to help clients to tackle person-to-person payment frauds in the U.S.
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Table of Contents
1.INTRODUCTION
1.Market Definition
2.Market Ecosystem
1.Market Classification
2.Geographic Scope
3.Years Considered for the Study
1.Historical Years – 2016 & 2017
2.Base Year – 2018
3.Forecasted Years – 2019 to 2030
3.Currency Used for the Study
4.Report Beneficiary List
2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottoms Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations of the Study
3.Assumptions of the Study
3.ABSTRACT OF THE STUDY
4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities
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In the end, Fraud Detection and Prevention Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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