Press release
Global Fraud Hunters Market Comprehensive Study: Forecasted Market Size And Growth Rate | Experian Information Solutions Inc., Oracle Corporation, International Business Machines Corporation (IBM)
Fraud Hunters Market Characteristics
The Business Research Company offers in-depth market insights through Fraud Hunters Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The fraud hunters market size has grown rapidly in recent years. It will grow from $7.2 billion in 2023 to $8.32 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to rise in cybercrime, increased digital transactions, regulatory compliance, globalization and increased connectivity.
The fraud hunters market size is expected to see rapid growth in the next few years. It will grow to $14.67 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to machine learning and ai evolution, big data analytics, behavioral analytics, collaboration and information sharing, integration with cybersecurity frameworks. Major trends in the forecast period include digital transformation and online transactions, big data and advanced analytics, machine learning and artificial intelligence, collaborative and information sharing networks, technological advancements.
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Market Segmentation:
The fraud hunters market covered in this report is segmented -
1) By Type of Fraud: Financial Statement Fraud, Healthcare, Insurance and Banking Fraud, Consumer Fraud, Intellectual Property Fraud, Other Types of Fraud
2) By Organisation Size: SMEs, Large Organizations
3) By Application: Defense, Government, Banks and Financial Institution, Other Applications
Major Driver - Rising Intellectual And Financial Theft Fueling The Growth Of The Fraud Hunter Market
The rise in intellectual and financial theft is expected to propel the growth of the fraud hunter market going forward. Intellectual theft refers to the moment of stealing creative expressions, inventions, symbols, or logos in the form of trade secrets, trademarks, copyrights, or patents that belong to a particular person or company. Fraud hunters help web and mobile service owners monitor users' usage and investigate potential misuses to reduce intellectual and financial theft. For instance, according to the Federal Trade Commission, a US-based independent agency of the United States government, consumers reported losing more than $5.8 billion to fraud in 2021, an increase of more than 70%. Therefore, the rise in intellectual and financial theft is driving the fraud hunting market growth.
Competitive Landscape:
Major companies operating in the fraud hunters market report are Experian Information Solutions Inc., Oracle Corporation, International Business Machines Corporation (IBM), Fair Isaac Corporation (FICO), Fiserv Inc, Fidelity National Information Services Inc (FIS), SAP SE, National Cash Register Corporation (NCR), Fraud Hunter, Zoi, Equifax Inc, Riskified, Sift Science Inc., Signifyd, Forter, ACI Worldwide Inc., BAE Systems, NICE Actimize, LexisNexis Risk Solutions Inc., Feedzai Inc., Featurespace, Kount Inc., Simility Inc., RSA Security LLC, ThreatMetrix, White Ops, Shape Security, BioCatch Ltd., NuData Security Inc., Guardian Analytics Inc., Securonix Inc., Splunk Inc., LogRhythm Inc., McAfee LLC, Symantec Corporation, Carbon Black Inc., CrowdStrike Inc., FireEye Inc., Palo Alto Networks Inc., Check Point Software Technologies Ltd., Broadcom Inc., Comodo Security Solutions Inc.
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https://www.thebusinessresearchcompany.com/report/fraud-hunters-global-market-report
Top Trend - AI-Powered Innovations In Fraud Hunting Is Exploring The Landscape Of Machine Learning And Security Evasion Competitions
The rising use of artificial intelligence and machine learning is the key trend gaining popularity in the fraud hunting market. Major companies operating in the fraud hunter market are focused on the use of artificial intelligence and machine learning to sustain their position in the fraud hunter market. For instance, July 2021, Microsoft Corporation, a US-based technology corporation launched MLSEC.IO, an educational Machine Learning Security Evasion Competition (MLSEC) to give the AI and security communities a chance to practice actual AI system attacks. The competition, which Microsoft is hosting and sponsoring along with NVIDIA, CUJO AI, VM-Ray, and MRG Effitas, awards competitors who successfully avoid AI-based malware detectors and AI-based phishing detectors.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fraud Hunters Market Characteristics
3. Fraud Hunters Market Trends And Strategies
4. Fraud Hunters Market - Macro Economic Scenario
5. Fraud Hunters Market Size And Growth
…..
27. Fraud Hunters Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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