openPR Logo
Press release

Fraud Detection and Prevention Market Size, Share, Outlook, Latest Trends, Business Growth, Segmentation, Dynamics and Forecast to 2029

06-20-2024 09:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ABNewswire

Fiserv (US), FIS Global (US), Lexisnexis Risk Solutions (US), TransUnion (US), Experian (Ireland), NICE Actimize (US), ACI Worldwide (US), SAS Institute (US), RSA Security (US), SAP (Germany), FICO (US), Software AG (Germany), Microsoft (US), F5 (US), AWS

Fiserv (US), FIS Global (US), Lexisnexis Risk Solutions (US), TransUnion (US), Experian (Ireland), NICE Actimize (US), ACI Worldwide (US), SAS Institute (US), RSA Security (US), SAP (Germany), FICO (US), Software AG (Germany), Microsoft (US), F5 (US), AWS

Fraud Detection and Prevention Market Size, Share, Growth Analysis by Offering (Solutions (Fraud Analytics, Authentication, and GRC) and Services (Professional and Managed)), Fraud Type, Deployment Mode, Vertical and Region - Global Forecast to 2029.
The fraud detection and prevention (FDP) market [https://www.marketsandmarkets.com/Market-Reports/fraud-detection-prevention-market-1312.html?utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral] size is projected to grow from USD 28.8 billion in 2024 to USD 63.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period. The growth of the fraud detection and prevention market is fueled by the adoption of digital technologies such as cloud computing, IoT, AI, ML, and big data analytics by enterprises in their complex and interconnected business processes.

Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1312 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1312&utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral]

Based on the offering, the solutions segment accounts for the highest market size during the forecast period.

The adoption of fraud detection and prevention solutions has surged as organizations must adopt a multi-layered approach to combat modern fraud, which is becoming increasingly sophisticated. Key strategies include implementing advanced fraud detection technologies like AI, machine learning, behavioral analytics, and biometric verification. These provide real-time analysis, adapt to new fraud patterns, and offer more effective and user-friendly prevention. Also, strong authentication measures such as multi-factor authentication should be established to verify user identities and prevent unauthorized access. Moreover, developing a comprehensive fraud prevention policy that outlines roles, processes, and consequences while providing ongoing employee education and awareness.

By deployment mode, the cloud segment will grow at the highest CAGR during the forecasted period.

The cloud deployment mode in fraud detection and prevention is rapidly increasing among organizations worldwide. This shift is driven by several factors, including the need for scalability, agility, and cost-effectiveness in combating evolving fraud threats. Cloud-based solutions offer the flexibility to scale resources dynamically, allowing organizations to handle fluctuating workloads and accommodate growing data volumes more efficiently than traditional on-premises systems. Additionally, the cloud provides accessibility from any location with internet connectivity, enabling real-time monitoring and response to fraudulent activities. Moreover, cloud deployment reduces the burden of managing and maintaining infrastructure, allowing organizations to focus on improving fraud detection capabilities and enhancing overall security posture. Adopting cloud deployment mode in fraud detection and prevention empowers organizations to stay ahead of fraudsters while optimizing resource utilization and operational efficiency.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period.

The Asia Pacific region comprises countries such as China, India, AnZ, Singapore, and Japan, leading in the FDP market. Asia Pacific region is expected to register high growth rates in the FDP market. China is the leading country in this market, with extensive adoption of FDP technology in various sectors, including BFSI, government, and healthcare. Other countries in the region, such as Japan, are also witnessing growth in the FDP market. Various factors, such as internal and external regulations and the growing focus of different industries to get a unified view of risk, are expected to contribute to market growth. Factors such as increasing compliances, internet usage, regulations, and increasing digitalization are the significant factors fueling the adoption of FDP solutions.

Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1312 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=1312&utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral]

Unique Features in the Fraud Detection and Prevention Market

As fraudsters become more skilled at their craft, the market for fraud detection and prevention is always changing. Businesses require fraud prevention solutions with distinctive characteristics if they want to stay competitive. Here are some of the more auspicious ones:

Conventional fraud detection works by looking for trends in previous fraud. Beyond this, predictive analytics makes use of machine learning to spot trends and anticipate upcoming fraud efforts. This enables companies to take preventative measures, such banning transactions that seem suspicious or requesting more verification.

With the use of this technology, users' typing and mouse actions, as well as how they navigate webpages, can be analyzed. By utilizing these patterns, it is possible to provide each user a special identification that can be used to spot fraudulent activities.

This entails many organizations exchanging information regarding fraud threats. This can assist companies in identifying fresh fraud strategies and creating stronger defenses.

This technology uses the hardware and software configuration of a user's device to generate a unique identification for it. This can be used to detect fraudulent activity, such when a con artist tries to utilize several devices to access an account.

Major Highlights of the Fraud Detection and Prevention Market

The proliferation of e-commerce, mobile payments, and online banking has presented fraudsters with an abundance of chances. Robust fraud prevention solutions are increasingly necessary as more and more transactions are being conducted online.

Criminals are always coming up with new and advanced ways to get around security controls. This calls for the creation of innovative fraud detection systems that can keep up with the times.

Because of its susceptibility to financial fraud, the Banking, Financial Services, and Insurance (BFSI) industry is the one that uses fraud detection technologies the most. Nonetheless, other industries, such as healthcare, which is dealing with problems like identity theft and billing scams, are adopting the technology at an increasing rate.

The cutting edge of fraud detection solutions is provided by cutting edge technology including big data analytics, artificial intelligence, and machine learning. For more effective fraud prevention, these allow for real-time transaction monitoring, anomaly detection, and risk profiling

The market is shifting away from conventional techniques for detecting fraud and toward more advanced solutions that make use of behavioral biometrics, publicly available threat intelligence, and integration of data from third parties.

Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1312 [https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1312&utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral]

Top Companies in the Fraud Detection and Prevention Market

Fiserv (US), FIS Global (US), Lexisnexis Risk Solutions (US), TransUnion (US), Experian (Ireland), NICE Actimize (US), ACI Worldwide (US), SAS Institute (US), RSA Security (US), SAP (Germany), FICO (US), Software AG (Germany), Microsoft (US), F5 (US), AWS (US), Bottomline Technologies (US), ClearSale (Brazil), Genpact (US), Securonix (US), Accertify (US), Feedzai (Portugal), Caseware (US), OneSpan (US), Signifyd (US), BioCatch (Israel), Friss (Netherlands), MaxMind (US), DataVisor (US), Cleafy (Italy), Gurucul (US), Riskified (Israel and US), Thomson Reuters (US), Sift (US), NoFraud (US), Featurespace (UK), HUMAN Security (US), XTN Cognitive Security (Italy), Equifax (US), Alloy (US), Castle (US), Enzoic (US), Kubient (US), SpyCloud (US), SEON (Hungary), Deduce (US), Incognia (US), Resistant AI (Czech Republic), and Amani Technologies (UAE) are the key players and other players in the fraud detection and prevention market.

Equifax (US) is a global leader in data, analytics, and technology, providing information solutions to businesses, governments, and consumers. The company specializes in human resources business process automation and outsourcing services for employers. Its diverse clientele includes financial institutions, corporations, government agencies, and individuals. It reports its business results in three operating segments, such as: Workforce Solutions, U.S. Information Solutions ("USIS"), and International. Equifax is a leading provider of payroll-related and human resource management business process services in the United States, and it offers e-commerce fraud and chargeback protection services in North America. For consumers, it provides products and services to help them understand, manage, and protect their personal information, aiding them in making more informed financial decisions. Additionally, the company supports debt collections and recovery management with its information, technology, and services. In February 2021, Equifax acquired Kount, a provider of Artificial Intelligence (AI)-driven fraud prevention and digital identity solutions, to expand the its worldwide footprint in digital identity and fraud prevention solutions.

XTN Cognitive Security (Italy) is a global leader in protecting digital businesses against fraud and threats. The XTN Cognitive Security Platform (CSP) is a leading fraud protection solution that employs advanced behavioral biometrics and proprietary AI algorithms to ensure highest security and simplified fraud management. Its platform offers comprehensive protection across all channels, allowing clients to implement the anti-fraud strategies. It leverages cutting-edge technology and an omnichannel approach, to manage fraud across multiple channels from a single console, removing the need for separate vertical management systems. The CSP platform offers functionality such as Smart Fraud Protection (SMASH), Smart App Protection (SEAP), and Smart Authentication (SA). It offers solutions to the banks, eCommerce, and financial institutions. It is trusted by customers including HALKBANK, BPER: BANCA, Sisal, FINECO BANK, and BANCO BPM. It has its international presence in Italy and US.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=fraud-detection-and-prevention-market-size-share-outlook-latest-trends-business-growth-segmentation-dynamics-and-forecast-to-2029]
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/fraud-detection-prevention-market-1312.html



This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Fraud Detection and Prevention Market Size, Share, Outlook, Latest Trends, Business Growth, Segmentation, Dynamics and Forecast to 2029 here

News-ID: 3547378 • Views:

More Releases from ABNewswire

Dr. Anosh Ahmed and The Anosh Inc. Foundation Respond to Rally Shooting, Announce Gun Violence Awareness Grant
Dr. Anosh Ahmed and The Anosh Inc. Foundation Respond to Rally Shooting, Announc …
Dr. Anosh Ahmed and The Anosh Inc. Foundation express condolences following rally shooting, announc new grant to raise gun violence awareness in Chicago's Austin Neighborhood. Image: https://lh7-us.googleusercontent.com/docsz/AD_4nXfPxlmTyjX3pado1X5YiUPnsk6b-6xYL7FJgC5XScDOd5PtTkdbykusdfyxJc6EYPJDL-oWSBd1QA-_ruJMTnBaA7JXkYfonoUKu6VfFIXOoqw9NKSVpqxXzXXy1sxxaXiIi0qmumdkBVrYkzOS7bikQV7v?key=9k3pWqVLR4wbHqRQ-xpUhg Dr. Anosh Ahmed and The Anosh Inc. Foundation CHICAGO, IL - July 19, 2024 - Dr. Anosh Ahmed and The Anosh Inc. Foundation [https://www.anoshincfoundation.com] have issued a heartfelt statement in response to the recent tragic events at a rally where the former president was injured in
Fix my speaker - Remove water from phone speakers using sound
Fix my speaker - Remove water from phone speakers using sound
New York, USA - July 19, 2024 - Jane Marie, a dedicated software developer based in New York, is proud to announce the launch of Fix My Speaker [https://fixmyspeakerss.com], a groundbreaking web application designed to solve the common issue of water-damaged speakers in electronic devices. The inspiration for Fix My Speaker arose as Speaker Cleaner [https://fixmyspeakerss.com] from Jane's personal experience with her iPhone's water-resistant feature. Despite assuming it was safe to
Gina Zollman's Highly Anticipated New Single
Gina Zollman's Highly Anticipated New Single "Where I Begin" Via Tribeca Records …
Following up her successful release "Anywhere With You", Gina Zollman has just released her new single "Where I Begin" worldwide via Tribeca Records. Gina Zollman, hailing from Palm Springs, is a singer/songwriter making a vibrant comeback on West Coast stages. A native of California, she discovered her passion for singing at age six, performing throughout her school years. She pursued higher education at UCSD Revelle College, earning a BA in Linguistics
Honoring Isabella Faria: The Journalist Who Unveiled a $100 Million Lost Painting
Honoring Isabella Faria: The Journalist Who Unveiled a $100 Million Lost Paintin …
The Global Family Support Foundation [http://www.GlobalFamilySupport.com] recently had the privilege of interviewing reporter and journalist Isabella Faria about her incredible journey in being the first to break and share the remarkable story of a $100 million lost painting with the world. Isabella opened up about her emotions, experiences, and the intricate details that led to this groundbreaking revelation. Image: https://www.abnewswire.com/uploads/9e520efa39da6228d95e26acbbbbf9e8.jpgImage: https://www.abnewswire.com/uploads/3b98c51f9fa87f0228aff517cef6e0e1.jpg The story began when Isabella, through a mutual friend referred to

All 5 Releases


More Releases for Germany

Germany Agriculture Market, Germany Agriculture Industry, Germany Agriculture Da …
Agriculture is important sector for the Germany’s food security and also a provider of jobs. More than half of country’s national territory is used for farming. Approximately 1 million people currently work part-time or full-time in agricultural holdings. Key agricultural products include milk, cereals, potatoes, barley, cabbages, pork, beef, poultry, wheat, and sugar beets. In some regions fruits & vegetables, wine and other horticultural products play a significant role. Agricultural
High Voltage System Market 2020: Top Key Players Are Bosch (Germany), Continenta …
High Voltage System Market Overview: Research report on The High Voltage System Market by ‘Market Growth Insight’ covers deep analysis on key factors that directly influence the market growth including impact of COVID-19. The report is a thorough study of drivers, opportunities, restraints, challenges, and risks associated with the High Voltage System market to help the players plan their growth activities and strategies carefully, while considering these crucial factors. The High
Product Engineering Services Market Outlook 2024 By Key Players: Accenture PLC(G …
Product Engineering Services Market reports report offers a comprehensive evaluation of the global market analysis (2019-2024). This 94 pages research study involves the extensive use of both primary interviews and secondary research data sources. The report consists of market share, size, CAGR, industry analysis, go to market strategy, SWOT analysis, sales, revenue, key players, information on products and application, competitive insights, value chain, and macroeconomic analysis etc. The product engineering is
2019 Autonomous Luxury Vehicle Market | By Leading Players: Daimler (Germany), B …
Autonomous Luxury Vehicle Market report covers the data which is helpful for key players, product scope, market overview, market opportunities, market risk, market driving force, technological advancement, distributors, traders, dealers, research findings. These data representations provide predictive data regarding the future estimations for convincing market growth. Download PDF Sample of this Report @ https://www.reporthive.com/enquiry.php?id=1510050&req_type=smpl&utm_source=SN Key Players including: • Daimler (Germany) • BMW (Germany) • Tesla (US) • Audi (Germany) • Robert Bosch (Germany) • Continental (Germany) • Denso (Japan) • Delphi (UK) This 108 pages of report focuses on
Global Contrast Sensor Market 2025 | BALLUFF(Germany), CONTRINEX(Swizerland), Di …
Researchmoz added Most up-to-date research on "Global Contrast Sensor Market Insights, Forecast to 2025" to its huge collection of research reports. The Contrast Sensor market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the
Laparoscopic Electrodes Market - Aesculap (Germany), Angiodynamics (USA), Bovie …
Global Laparoscopic Electrodes Market Size, Status and Forecast 2022 provides Market information about Manufacturers, Countries, Type and Application.This Industry report also states Company Profile, sales, Laparoscopic Electrodes Market revenue and price, market share, market growth and gross margin by regions. Top Manufacturers/Key Players: Aesculap (Germany) Angiodynamics (USA) Bovie Medical (USA) BOWA-electronic (Germany) Erbe Elektromedizin GmbH (Germany) Ethicon Endo Surgery (USA) Gunter Bissinger Medizintechnik (Germany) HEBUmedical (Germany) Lagis Endosurgical (China Taiwan) LaproSurge (UK) Maxer Endoscopy (Germany) Mediflex Surgical Products (USA) Megadyne (Italy) MetroMed Healthcare (China