Fraud Detection and Prevention Market
The Global Fraud Detection and Prevention Market size is estimated to be USD 24.62 billion in 2019 and is predicted to reach USD 321.16 billion by 2030 with a CAGR of 26.3% from 2020-2030.
Any illegal and unlawful act done to get any value from something is known as fraud. Fraud Detection and Prevention software are the applications and provide solution to for the fraud detection and prevention market. It helps in the identification and data and its integrity, it also helps in the online transaction by authenticating the access by the responsible person to further avoid such actions.
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Top Companies: IBM Corporation, SAP SE, Oracle Corporation, ACI Worldwide, Lavastorm, ThreatMetrix, SAS Institute Inc., BAE Systems, NCR Limited and others.
The global fraud detection and prevention market share is analyzed on the basis of solution type, services, deployment, end user, industry vertical and geography. On the basis of solution type, the market is segmented into fraud analytics and authentication. The fraud analytics are sub segmented into Predictive Analytics, Customer Analytics, Social Media Analytics, Bigdata Analytics, and Behavioral Analytics. The authentication segment is further divided into Single-Factor Authentication and Multifactor Authentication. On the basis of services, the market is divided into Professional and Managed. Based on deployment type, the market is divided into Cloud and On-Premises. On the basis of end user, the market is divided into Small & Medium Enterprises (SMEs) and Large Enterprises. On the basis of industry vertical, the market is divided into BFSI, Retail, Healthcare, Real Estate, Manufacturing, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America represents the developed market share over the forecast period coupled with increased adoption of fraud detection and prevention software coupled with technological advancement and increase in data based enterprises, presence of developed infrastructure and increased awareness among people are further expected to fuel the marker growth. Asia pacific is expected to develop significantly over the forecast period owing to the presence of developing economies coupled with increased penetration of internet and mobile devices, increase in fraud cases and wide application is further expected to augment the growth of fraud detection and prevention market over the forecast period.
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