Steady Expansion Forecast for Fraud Detection and Prevention Market, Projected to Reach $130.79 Billion by 2029

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Fraud Detection and Prevention Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, we've observed a substantial rise in the market size of fraud detection and prevention. This market is projected to amplify from a worth of $50.72 billion in 2024 to approximately $61.01 billion in 2025, displaying a compound annual growth rate (CAGR) of 20.3%. The previous growth can be ascribed to a surge in the digitization of financial dealings, a climb in online banking and e-commerce activities, the evolving complexity of fraudulent methods, regulatory compliance obligations, and the proliferation of mobile and online payment systems.

Fraud Detection and Prevention Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high that the market size for fraud detection and prevention will witness dramatic expansion in the coming years. A projected value of $130.79 billion by 2029 is anticipated, riding on a compound annual growth rate (CAGR) of 21.0%. The extension during the forecasted period can be ascribed to the growing necessity to defend small to medium enterprises from fraudulent activities, enhanced operational effectiveness, and superior customer experiences. Additionally, the ability to manage considerable amounts of identities becomes a requirement for organizations, and the increasing adoption of sophisticated analytics methods and the proliferation of real-time monitoring capabilities also contribute. The forecast period will see notable trends such as the utilization of artificial intelligence in detecting fraud, the rise of blockchain technology for secure transactions, cooperation among industry stakeholders for data exchange, incorporating cybersecurity with fraud prevention measures, and the ever-evolving fraud methodologies that demand adaptable solutions.

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What Are the Drivers Transforming the Fraud Detection and Prevention Market?
The rise in the occurrence of cyberattacks and frauds is fueling the expansion of the fraud detection and prevention market. The assessment of the COVID-19 impact on cybercrime by The International Criminal Police Organization unveiled a crucial diversion of targets from private individuals and small enterprises to larger corporations. For example, a study by AAG, a UK-based IT service provider, revealed a 125% surge in global cyberattacks in October 2023. Moreover, the risk posed by these attacks to individuals and organizations heightened in 2022. Consequently, the escalating frequency of cyberattacks and frauds is propelling the growth of the fraud detection and prevention market.

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What Long-Term Trends Will Define the Future of the Fraud Detection and Prevention Market?
The emergence of technological innovations is an increasingly prevalent trend in the fraud detection and prevention domain. This development entails the production of knowledge that furthers technological comprehension. For example, in October 2022, DG Financial Technology Inc. (DGFT), a company based in Japan providing services, joined forces with Scudetto Corporation, a company that also originates from Japan specializing in preventing online fraud. Together they introduced Sift Digital Trust & Safety Suite (Sift), a product of artificial intelligence designed for detecting fraud. Sift operates in the e-commerce and online field to discover fraudulent activities, like credit card fraud and account usurpation, with the aim of lessening the impact of chargebacks and other fraudulent undertakings by enhancing fraud prevention practices and boosting income.

Which Segments in the Fraud Detection and Prevention Market Offer the Most Profit Potential?
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 Firms Dominate the Fraud Detection and Prevention Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential in 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

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