Leading Element Driving Change in the Fraud Detection and Prevention Market in 2025: Increase In Cyberattacks And Frauds Drives Growth Of Fraud Detection And Prevention Market Driver

What combination of drivers is leading to accelerated growth in the fraud detection and prevention market?
The surge in the occurrence of cyber attacks and fraudulent activities is dictating the expansion of the fraud detection and prevention market. The pandemic's effect on cybercrime, as assessed by the International Criminal Police Organization, has underscored a crucial shift in focus from individuals and small-scale companies to larger corporations. For instance, data from October 2023 from AAG, a British IT services firm, revealed an enormous increase of 125% in global cyber attacks, and the risk posed by these attacks to individuals and organizations escalated further in 2022. Hence, the escalating frequency of cybercrimes and fraudulent acts is propelling the expansion of the fraud detection and prevention market.

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What is the projected compound annual growth rate (CAGR) of the fraud detection and prevention market from 2025 to 2034, and what factors influence it?
In recent times, the size of the fraud detection and prevention market has witnessed explosive growth. Projected to increase from $50.72 billion in 2024 to $61.01 billion in 2025, the market is expected to grow at a compound annual growth rate (CAGR) of 20.3%. The growth during the historical period was largely driven by factors such as increased digitalisation of financial transactions, a surge in online banking and e-commerce, the escalating sophistication of fraud methods, regulatory compliance necessities, along with the growth of mobile and online payment systems.

Expected to witness significant expansion in the forthcoming years, the fraud detection and prevention market is set to reach a valuation of $130.79 billion in 2029 with a compound annual growth rate of 21.0%. This anticipated growth during the projected period could be credited to the increasing necessity for safeguarding SMEs against fraudulent activities, refining operational productivity, elevating customer service, and the ability to effectively manage increasing volumes of identities within organizations. The rising usage of advanced analytic methodologies and broadening of real-time monitoring capabilities also contribute to this growth. Notable trends for the forecast period encompass the inclusion of artificial intelligence in fraud detection, the advent of blockchain technology for safer transactions, partnerships among industry participants for sharing information, amalgamation of cybersecurity and fraud prevention solutions, and the need for dynamic solutions due to the continuous development of fraud techniques.

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How are the latest trends influencing the growth of the fraud detection and prevention market?
Emerging technology is becoming a significant trend in fraud detection and prevention market. This means technological innovations offer an improved comprehension of such areas. In illustrating this point, DG Financial Technology Inc. (DGFT), a service provider headquartered in Japan, allied with Scudetto Corporation, an expert in online fraud prevention also based in Japan. In October 2022, they introduced Sift Digital Trust & Safety Suite (Sift), a fraud detection tool designed using Artificial Intelligence. Sift leverages AI to identify fraud and misuse situations in online transactions and e-commerce, such as account takeover and credit card fraud. By so doing, it minimizes losses that could arise from chargebacks and other related fraudulent events, streamlines fraud prevention tactics, and enhances revenue growth.

What are the major segments of the fraud detection and prevention market and their role in driving growth?
The fraud detection and prevention market covered in this report is segmented -

1) By Fraud Type: Check Fraud, Identity Fraud, Internet Or Online Fraud, Investment Fraud, Payment Frauds, Insurance Fraud, Other Fraud Types
2) By Deployment Mode: Cloud, On-premises
3) By Solution: Fraud Analytics, Authentication, Reporting, Visualization, Other Solutions
4) By Application: Insurance claims, Money laundering, Electronic Payment
5) By End User: Small and Medium Enterprises (SMEs), Large Enterprises

Subsegments:
1) By Check Fraud: Forged Checks, Counterfeit Checks, Altered Checks
2) By Identity Fraud: Identity Theft, Synthetic Identity Fraud, Account Takeover
3) By Internet Or Online Fraud: Phishing sca*ms, Online Auction Fraud, E-commerce Fraud
4) By Investment Fraud: Ponzi Schemes, Securities Fraud, Affinity Fraud
5) By Payment Frauds: Credit Card Fraud, Mobile Payment Fraud, ACH Fraud
6) By Insurance Fraud: Health Insurance Fraud, Auto Insurance Fraud, Property Insurance Fraud
7) By Other Fraud Types: Tax Fraud, Charity Fraud, Employment Fraud

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Which regions are key players in the growth of the fraud detection and prevention market?
North America was the largest region in the fraud detection and prevention market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fraud detection and prevention market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the key firms paving the way for growth in the fraud detection and prevention market?
Major companies operating in the fraud detection and prevention market include IBM Corporation, Fair Isaac Corporation, Oracle Corporation, SAS Institute Inc., BAE Systems plc, DXC Technology Company, SAP SE, ACI Worldwide Inc., Fiserv Inc., ThreatMetrix company, NICE Systems Ltd., Equifax Inc., Cybersource Corporation, Global Payments Inc., Experian Information Solutions Inc., TransUnion LLC, RSA Security LLC, LexisNexis Risk Solutions, Kount Inc., Feedzai Inc., Featurespace Inc., Pindrop Security Inc., Simility Inc., Signifyd Inc., Sift Science Inc., Idology Inc., Total System Services Inc.

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What Is Covered In The Fraud Detection and Prevention Global Market Report?

•Market Size Forecast: Examine the fraud detection and prevention market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fraud detection and prevention market for a structured understanding.
•Key Players Overview: Analyze major players in the fraud detection and prevention market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fraud detection and prevention market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fraud detection and prevention market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fraud detection and prevention market.
•Industry Challenges: Identify potential risks and obstacles affecting the fraud detection and prevention market.
•Competitive Landscape: Review strategic developments in the fraud detection and prevention market, including expansions, agreements, and new product launches.

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