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Demand: After COVID-19 Business forecast Scope of Fraud Detection and Prevention Market
Fraud Detection and Prevention Market
Check out How COVID-19 impact on the Fraud Detection and Prevention Market. Click here to Connect with Analyst @ https://www.researchdive.com/connect-to-analyst/233
Factors Impacting the CAGR figures in Pre and during Covid-19 Period
The CAGR of global fraud detection and prevention market was estimated to be 26.5% in 2020, as per the pre Covid-19 scenario. In the current situation of the coronavirus pandemic, the CAGR is anticipated to be 29.6% in 2020; thus reflecting a positive market surge. The main reason is to prevent frauds and avoid revenue losses for the businesses.
Factors Impacting the Market Size in Pre and Real-Time Covid-19 Situation
The fraud detection and prevention market was predicted to generate significant revenue of $30.0 billion in 2020, in the pre Covid-19 scene. However, the real-time market size in the Covid-19 outbreak is accounted for $31.5 billion in 2020. Advancements in fraud prevention software, real-time alerts, and pre-defined scenarios are the main reasons for the market growth.
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Future Scope of the Market in the Post Covid-19 World
The fraud detection and prevention market will continue to grow in the post coronavirus emergency as well. This market is responsible for prohibiting frauds through historical analysis of customer behavior and real-time transaction data. Apart from this, identifying online traffic that can lead to data breach and testing in the data visualization process can prevent frauds in the current scenario. All of these faucets will promote the market growth in the post Covid-19 pandemic period.
The most significant market players include IBM Corporation, NCR limited, SAS Institute Inc., Fair Issac Corporation, ACI Worldwide, SAP SE, Lavastorm, and Oracle Corporation.
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