Fraud risk management services market is expected to reach USD 6.64 billion by 2030 : Cognitive Market Research

Market Overview:
What is a Fraud Risk Management Service?
- Fraud risk management is the process of identifying, assessing, and mitigating the risks of fraud in an organization. Fraud is a deliberate and intentional act of deception, misrepresentation, or concealment of facts that results in financial loss, damage to reputation, or other adverse consequences for the organization. An effective fraud risk management program is designed to prevent, detect, and respond to fraud risks that may affect the organization.

Summary:
• The Fraud risk management services market is expected to grow from USD 3.13 billion in 2022 to USD 6.64 billion by 2030, at a CAGR of 9.5%.

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Market Dynamics:
• Rising fraudulent activities augment the demand for fraud risk management service
The global fraud risk management services market is the increasing incidence of fraud across various industries and sectors. Fraudsters are becoming more sophisticated and are using advanced techniques to commit fraud, which makes it difficult for organizations to detect and prevent fraud on their own.
As a result, organizations are increasingly seeking the services of fraud risk management companies to help them identify, assess, and mitigate fraud risks. These companies provide specialized expertise, tools, and technologies that help organizations manage fraud risks more effectively.
• High implementation and maintenance cost act as restraints of the fraud risk management service market
The global fraud risk management services market is the high cost associated with implementing and maintaining fraud risk management programs. Effective fraud risk management programs require significant investments in resources, including personnel, technology, and training.
Many organizations, particularly small and medium-sized enterprises (SMEs), may not have the financial resources to invest in comprehensive fraud risk management programs. As a result, they may be more vulnerable to fraud risks.
• The rising adoption of technologies will drive the fraud risk management service market growth
The fraud risk management services market is the increasing adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) to detect and prevent fraud.
AI and ML can be used to analyze large amounts of data and identify patterns and anomalies that may indicate fraud. These technologies can also be used to automate fraud detection and prevention processes, which can help organizations, reduce the time and resources required to manage fraud risks.

Fraud Risk Management Service Market Segmentation:
Type
• Check Fraud
• Identity Fraud
• Internet Fraud
• Investment Fraud
• Payment Fraud
• Other Frauds

Component
• Solutions
• Services

Deployment
• Cloud
• On-Premise

End-Use
• SMEs
• Large Enterprise

The Major Players in Fraud risk management services Market are:
BAE Systems, IBM, SAP, SAS Institute, Symantec

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News
• October 2022
GPS will incorporate Featurespace's industry-leading ARIC™ Risk Hub into its suite of fraud and risk management services globally. ARIC Risk Hub will further strengthen GPS fraud technology by improving fraud detection rates by over 70%, reducing false positives by 80%, and addressing fraudulent activity in real-time.

Regional Analysis:
- North America dominates the Fraud risk management service Market
Geographically, the global fraud risk management service market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. North America is a developed region with advanced economies such as the United States and Canada. The region has a mature market for fraud risk management services and is characterized by high awareness of fraud risks and stringent regulatory requirements.

Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Fraud Risk Management Services Market
Chapter 4 Global Fraud Risk Management Services Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
• 5.1 Global Fraud Risk Management Services Market Revenue and Share by Manufacturers (2018-2022)
• 5.2 Global Fraud Risk Management Services Industry Mergers and Acquisition Analysis
• 5.3 Global Fraud Risk Management Services New Launches Analysis
• 5.4 Company Categorization
• 5.5 Global Fraud Risk Management Services Top Winning Strategies, by Manufacturers (2018-2022)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
• 6.1 Overall Company's Disclosure Score
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Fraud Risk Management Services Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Fraud Risk Management Services Market by End-Use Segmentation Analysis (2018-2030)
Chapter 11 Global Fraud Risk Management Services Market by Component Segmentation Analysis (2018-2030)
Chapter 12 Global Fraud Risk Management Services Market by Deployment Segmentation Analysis (2018-2030)
Chapter 13 Global Fraud Risk Management Services Market Regional Analysis
Chapter 14 North America Fraud Risk Management Services Market Outlook (2018 - 2030)
Chapter 15 Europe Fraud Risk Management Services Market Outlook (2018 - 2030)
Chapter 16 Asia Pacific Fraud Risk Management Services Market Outlook (2018 - 2030)
Chapter 17 Latin America Fraud Risk Management Services Market Outlook (2018 - 2030)
Chapter 18 Middle East and Africa Fraud Risk Management Services Market Outlook (2018 - 2030)
Chapter 19 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)

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