Skyrocketing growth in Fraud Detection and Prevention Market is Projected to Grow at a CAGR of 25.6% Over the Forecast Period (2019 - 2027)
Fraud Detection and Prevention Market is increasing rapid diversity of fraud occurrences across different industries
A cogent report titled Fraud Detection and Prevention market has been published by Absolute Markets Insights to its online repository. The in-depth statistical data offers a comprehensive analysis of the market by analyzing several crucial segments, such as type, size, technology and applications. By providing exploratory techniques such as, qualitative and quantitative analysis the report presents a comprehensive analysis of market progression. Graphical presentation of information through charts, (graphs, diagrams, tables as well as pictures), the report provides a lucid and easy understanding of the market to readers.
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With rising incidences of fraud across a variety of industries, enterprises and government bodies are losing large amounts of capital every year. Among different industries, the highly regulated sectors like financial, healthcare, insurance, retail, and social security are the frequent targets. For these industries, combating fraud is essential as there is a multitude of compliance, regulations, risk management measures, and monetary consequences. Furthermore, increased use of digital data mode, high usage of internet enabled devices, and cloud services has rapidly increased the vulnerability of enterprises towards fraud, further fueling the fraud detection and prevention market.
Increase in complex enterprise data generation, high industry-specific requirements, and rising incidences of fraud are supplementing the fraud detection and prevention market growth. Technological advancements in the field have enabled vendors to offer industry-specific solutions that are helping in mitigating risks associated with frauds in addition to saving money and reputation. Organizations across the world are investing in these solutions to save money and reputation. In the coming years, vendors are expected to develop more sophisticated solutions to prevent fraud by leveraging innovative technologies.
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The detailed research study provides qualitative and quantitative analysis of fraud detection and prevention market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa and Latin America.
Key Findings of the Report:
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Fraud Detection and Prevention Market:
Fraud Detection and Prevention Market By Organization Size
- In terms of revenue, the North American region accounted for the highest market share in 2018 and is anticipated to witness a sustainable CAGR over the forecast period.
- Among the solutions, Fraud analytics segments accounted for a significant market share in 2018, growing at a CAGR of 26.0% over the forecast years (2019 – 2027).
- Cloud based deployment is expected to grow at an increasing rate as compared to on-premise, owing to the ease of installation & updation, high scalability, total low cost of ownership and other benefits offered by cloud-based deployment.
- Key players operating in the fraud detection and prevention market are IBM Corporation, SAP SE, Dell Inc., FRISS, BAE Systems and NICE amongst others. However, the new market entrants offering highly advanced solutions are also expected to propel the market in the near future.
- Increase in the frequency and sophistication of cyber frauds and attacks is prompting industry participants to collaborate with others in order to develop cutting edge solutions.
Fraud Detection and Prevention Market By Application
- Fraud Analytics
- Single-Factor Authenticatio
- Multifactor Authentication
- Professional Service
- Managed Service
By Industry Vertical:
- Identity Theft
- Payment Frauds
- Electronic Payment Fraud
- Mobile Payment Fraud
- Credit and Debit Card Fraud
- Money Laundering
- Others (Banking Transactions, Fund Transfers etc.)
Fraud Detection and Prevention Market By Region:
- Banking, Financial Services and Insurance (BFSI)
- Energy and Power
- Government/Public Sector
- Real Estate
- Others (Travel and Transportation, Media and Entertainment, etc.)
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- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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