Press release
AI In Fraud Management Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
AI In Fraud Management Market
What Is the Projected Growth of the AI In Fraud Management Market?
The market size for AI in fraud management has seen a quick expansion in the past few years. There's an expected growth from $13.05 billion in 2024 to $15.64 billion in 2025, indicating a compound annual growth rate (CAGR) of 19.8%. The historic growth can be credited to factors such as escalating cyber threats, data infringements, mounting transaction volumes, fraud costs, and the surge in awareness and education.
The market size of AI in fraud management is projected to experience swift expansion in the coming years, reaching a value of $31.69 billion by 2029, with a compound annual growth rate (CAGR) of 19.3%. The anticipated growth during the forecast period can be accredited to factors such as incorporation of AI in business operations, progress in explainable AI, the global spread of fraud, ongoing regulatory stress, and the integration of real-time data streams. Noteworthy trends during this forecast period encompass rapid technological progression, regulatory compliance, joint fraud detection networks, adoption of behavioral biometrics, and the merging of AI and blockchain technologies.
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What Are the Different AI In Fraud Management Market Segments?
The AI in fraud management market covered in this report is segmented -
1) By Solution: AI-Powered Fraud Prevention Software, Services
2) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
3) By Application: Identity Theft Protection, Payment Fraud Prevention, Anti-Money Laundering, Other Applications
4) By Industry: Banking, Financial Services And Insurance, IT And Telecom, Healthcare, Government, Education, Retail And Consumer packaged goods (CPG), Media And Entertainment, Other Industries
Subsegments:
1) By AI-Powered Fraud Prevention Software: Real-Time Transaction Monitoring, Fraud Detection And Analysis Tools, Risk Scoring And Assessment Solutions
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Managed Fraud Detection Services
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What Are the Primary Drivers Shaping the AI In Fraud Management Market?
The surge in digital payments and international transactions is predicted to fuel the expansion of AI in the fraud management industry. This growth in digital transactions is primarily due to their convenience, enabling people to conduct transactions from anywhere at any time using handheld devices or computers. The incorporation of AI into fraud management is critical for ensuring the security and reliability of digital payment systems and defending users and businesses against deceptive practices. For instance, the National Payments Corporation of India (NPCI), an organization regulating retail payments in India, reported that the total UPI transaction value at the close of 2022 was INR 125.95 trillion (USD 1.52 trillion), marking an increase of 1.75 times year on year (YoY). Moreover, the total value of UPI transactions represented more than 86% of India's GDP in FY 22. As such, the surging usage of digital payments and international transactions is propelling the advancement of AI in the fraud management sector.
Which Companies Are Leading in the AI In Fraud Management Market?
Major companies operating in the AI in fraud management market are Trusteer, Hewlett Packard Enterprise, BAE Systems plc, Capgemini SE, Cognizant Technology Solutions India Private Limited., SAS Institute Inc., Splunk Inc., Temenos AG, Shift Technology SAS, Pelican Products Inc., Riskified Ltd., NICE Actimize Inc., Jumio Corp., Onfido Ltd., Subex Limited, BehavioSec Inc., Arxan Technologies Inc., Socure Inc., ACTICO GmbH, BioConnect Inc., Matellio Inc., MaxMind Inc., Zest AI Inc., Chargeback.com Inc., Brighterion Inc.
What Are the Major Trends Shaping the AI In Fraud Management Market?
Leading firms in the artificial intelligence fraud management market are concentrating on innovations like generative AI-powered fraud solutions to escalate their real-time fraud defense. Generative AI fraud techniques are methods that harness generative AI models to develop deceptive elements such as text, images, or voices which lead to identity theft, financial fraud, and disinformation. For example, in October 2023, DataVisor, an American fraud and risk detection software creator, introduced the AI Co-Pilot, a fraud solution powered by generative AI. This innovative tool employs Generative AI for automating fraud detection, reducing false positives, and minimizing user friction in real-time. It integrates AI Co-Pilot among their fraud prevention tactics for financial institutions to increase their fraud detection capabilities, while preserving a seamless customer experience. The scheme offers advantages like automated rule adjustment, feature script creation and troubleshooting, and generation of rule summaries.
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What Are the Top Revenue-Generating Geographies in the AI In Fraud Management Market?
North America was the largest region in the AI in fraud management market in 2024. The regions covered in the AI in fraud management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI In Fraud Management Market?
2. What is the CAGR expected in the AI In Fraud Management Market?
3. What Are the Key Innovations Transforming the AI In Fraud Management Industry?
4. Which Region Is Leading the AI In Fraud Management Market?
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