Fraud Detection and Prevention Market to Grow at 12.5% CAGR by 2030

Increasing number of fraudulent cases as a result of growing adoption of digital payment apps, e-banking services and cross-border transactions, along with rising number of data-based enterprises are the key factors driving the market growth.

The Fraud Detection and Prevention Market is expected to grow at a CAGR of 12.5% from 2020-2030, according to a new research report by Next Move Strategy Consulting.

Fraud Detection and Prevention solutions prevent frauds by identifying an individual and authenticating his access into the organization’s IT infrastructure. The introduction of big data analytics along with cloud computing services are the major elements contributing towards the growth of the fraud detection and prevention market. Also, key factors such as technological advancements and surge in mobile banking activities are vital elements anticipated to drive the market growth. However, high initial cost of such software is the factor restraining the fraud detection and prevention market growth.

On the basis of solution type, the market is segmented into fraud analytics and authentication. Fraud analytics is further sub segmented into predictive analytics, customer analytics, social media analytics, big data analytics and behavioural analytics. Authentication is sub segmented into single factor authentication and multifactor authentication. On the basis of services, the market is segmented into professional services and managed services. On the basis of deployment type, the market is segmented into cloud and on-premises. On the basis of end user, the market is segmented into small & medium enterprise and large enterprises. On the basis of industry vertical, the market is segmented into BFSI, retail, healthcare, real estate, manufacturing, other industry verticals. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.

Geographically, North America possesses the lion share in the fraud detection and prevention market. This is attributed to the factors such as increased adoption of fraud detection and prevention systems in various industries and surge in number of data processing enterprises in this region. Additionally, growing awareness regarding instances of fraud is expected to further add revenue to the market in this region. However, Asia pacific is expected to develop significantly over the forecast period owing to the presence of developing economies coupled with the increased penetration of internet and mobile devices, surging cases of fraud and wide adoption across industries.

Browse through the full report, “Fraud Detection & Prevention Market by Solution (Fraud Analytics and Authentication), Service (Professional Services and Managed Services), End User (Small & Medium Enterprises, and Large Enterprises), Deployment Type (Cloud and On-Premises), By Industry Vertical (BFSI, Retail, Healthcare, Real Estate, Manufacturing and Others- Global Opportunity Analysis and Industry Forecast, 2020-2030”

According to the report, some of the key players in the market are ACI Worldwide, Inc., Bae Systems, Inc., Fair Isaac Corporation, International Business Machines Corporation, Lava storm Analytics, NCR Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and Threat Metrix Inc., among others.

Key Insights from the Fraud Detection and Prevention Market Report:

• Current emerging trends and opportunities are extensively analysed in fraud detection and prevention market report.

• The forecast of the fraud detection and prevention market comes along with additional information associated with opportunities, restrains and key drivers in the market.

The report fraud detection and prevention market – is segmented by solution type, service, deployment type, end user, industry vertical and geography.

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About Next Move Strategy Consulting

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We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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