Payment Monitoring Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | ACI Worldwide Inc., BAE Systems plc, Fair Isaac Corporation, Fidelity National Information Services Inc

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2575

The Business Research Company offers in-depth market insights through Payment Monitoring 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 payment monitoring market size has grown rapidly in recent years. It will grow from $16.48 billion in 2023 to $19.73 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to fraud prevention concerns, regulatory compliance, increased digital transactions, risk management, customer trust and reputation.

The payment monitoring market size is expected to see rapid growth in the next few years. It will grow to $40.53 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to evolving cybersecurity threats, globalization and cross-border transactions, stricter regulatory environment, data privacy concerns, integration with ai and analytics. Major trends in the forecast period include cross-channel monitoring, blockchain technology integration, collaboration with financial institutions, focus on customer data protection, user-friendly interface and reporting.

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Market Segmentation:
The payment monitoring market covered in this report is segmented -

1) By Type: Case Management, Dashboard And Reporting, KYC Or Customer Onboarding, Watch List Screening
2) By Deployment: Cloud, On-premise
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Anti-Money Laundering, Compliance Management, Fraud Detection And Prevention, Customer Identity Management
5) By End User: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecom, Healthcare, Retails And E-commerce, Government And Defense, Other End-Users

Major Driver - Escalating Payment Fraud And Cyberattacks Fueling Expansion In The Payment Monitoring Market
The rising payment fraud and cyberattacks are driving the growth of the payment monitoring market going forward. Payment frauds include all the various types of illegal transactions completed by cybercriminals. Such payments are carried out by stealing a third person's payment credentials and completing unauthorized transactions. Payment monitoring systems constantly scan and monitor the transactions made for any illicit and suspicious behavior and take action to prevent losses for the victims. For instance, in April 2022, according to the AFP Payments Fraud and Control Survey by JP Morgan, a US-based investment banking, commercial banking, financial transaction processing, and asset management company, roughly 30% of companies in 2021 saw a rise in payments fraud while 71% of organizations reported to have been victims of payment fraud attacks. Furthermore, 55% of companies reported actual or attempted payment fraud because of business email compromise (BEC). Therefore, the rise in payment fraud is driving the growth of the payment monitoring market.

Competitive Landscape:
Major companies operating in the payment monitoring market report are ACI Worldwide Inc., BAE Systems plc, Fair Isaac Corporation, Fidelity National Information Services Inc., Fiserv Inc., Nice Ltd., Oracle Corporation, SAS Institute Inc., Software AG, Refinitiv Company, Bottomline Technologies Inc., Broadcom Inc., International Business Machines Corporation, ThreatMetrix Inc., ComplyAdvantage Ltd., Thomson Reuters Corporation, LexisNexis Group, Hawk:AI, Napier Healthcare Solutions, FinScan, Flywire Corporation, PPRO Financial Ltd., CheckoutLtd., Adyen NV, Stripe Inc., Square Inc., PayPal Holdings Inc., Apple Inc., Global Payments Inc., PayNearMe

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Top Trend - Key Player Innovation Transform Payment Monitoring Market Presence
Integration of advanced technologies such as machine learning (ML), artificial intelligence (AI), and big data is the key trend that is gaining popularity in the payment monitoring market. Major companies operating in the market are focused on the advancement of their infrastructures to sustain their position in the market. For instance, in August 2022, the Society for Worldwide Interbank Financial Telecommunication, a Belgium-based cooperative society that serves as a provider of a secure messaging system for financial transactions between banks, launched an artificial intelligence tool that utilizes its predictive data intelligence capability to determine potential problems with cross-borders before a transaction gets completed. This tool uses the data from previous successful transactions to pinpoint errors that may have occurred in the new transaction and thereby reducing failure rates.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Payment Monitoring Market Characteristics
3. Payment Monitoring Market Trends And Strategies
4. Payment Monitoring Market - Macro Economic Scenario
5. Payment Monitoring Market Size And Growth
…..
27. Payment Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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