Home Press Releases Fraud Detection and Prevention Market Size, Drivers, Opportunities & Challenges

Fraud Detection and Prevention Market Size, Drivers, Opportunities & Challenges

by Press Room


(EMAILWIRE.COM, March 08, 2024 ) According to a research report “Fraud Detection and Prevention Market by Offering (Solutions (Fraud Analytics, Authentication, and GRC) and Services (Managed and Professional)), Fraud Type, Deployment Mode, Organization Size, Vertical and Region – Global Forecast to 2028″ published by MarketsandMarkets, the global FDP market size is projected to grow from USD 27.7 billion in 2023 to USD 66.6 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period. The growth of the FDP market is driven by factors such as the widespread utilization of digital technologies and IoT across various industries, the surge in revenue losses and chargebacks caused by fraudulent activities, and the growing adoption of fraud analytics and risk-based authentication solutions to combat fraud. These trends have resulted in a higher demand for fraud prevention solutions that can assist businesses in protecting their operations and reducing the risks associated with financial losses and reputational harm.

Browse 681 market data Tables and 58 Figures spread through 470 Pages and in-depth TOC on “Fraud Detection and Prevention Market – Global Forecast to 2028”

Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1312

Based on the deployment type, the on-cloud deployment mode is to grow at the highest CAGR during the forecasted period.

The FDP market is sub-segmented into on-premises and cloud deployment modes. The cloud deployment mode is estimated to grow with a higher CAGR due to its scalability, cost-efficiency, real-time analytics capabilities, and enhanced accessibility. The demand for SaaS-based FDP solutions is growing rapidly as the central delivery model meets IT security needs. The increasing number of applications being deployed on the cloud has shifted from traditional on-premises FDP solutions to cloud-based FDP solutions across large enterprises and Small and Medium-sized Enterprises (SMEs). Cloud-based solutions are continuously shaping their market growth in BFSI vertical as large or small banks have the critical infrastructure and resources to be deployed on the cloud. Other than BFSI, retail and eCommerce, healthcare, and travel verticals also adopt cloud-based FDP solutions to combat fraud efficiently. The rising demand for managed services is expected to significantly impact the cloud deployment mode.

By organization size, large enterprises hold a larger market size during the forecast period.

The FDP market is segmented by organization size into large enterprises and SMEs. The market size of SMEs and large enterprise segments has a significant impact on the overall FDP market. As per research studies, the amount of losses incurred by large enterprises due to the increasing fraud cases is massive, and fraudsters have been associated with large enterprises for a long time. In such cases, large enterprises need to adopt severe anti-fraud measures. Large enterprises are critical resources and offer customers several options for money transactions worldwide. Owing to this, large banks, casinos, insurance companies, retailers, eCommerce big giants, and the healthcare sector are more vulnerable than SMEs, so large enterprises contribute to a higher market share than SMEs.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period.

Given the increasing incidence of fraud, the Asia Pacific region is experiencing a rising threat landscape and heightened concern regarding security spending. The region is witnessing rapid digitization, with more and more online transactions leading to increased fraudulent activities, such as phishing and identity theft. As a result, organizations are prioritizing measures to mitigate fraud risks, leading to increased spending on FDP solutions. Furthermore, stringent regulations, such as KYC, Personal Data Protection Regulations, and AML, in many countries require organizations to implement effective fraud prevention measures, failure of which may result in severe penalties and reputational damage. This is driving the growth of the FDP market.

Market Players:

Fiserv (US), FIS Global (US), LexisNexis Risk Solutions (US), BAE Systems (UK), TransUnion (US), Experian (Ireland), Nice Actimize (US), ACI Worldwide (US), SAS Institute (US), RSA Security (US), SAP (Germany), FICO (US), Software AG (Germany), Microsoft (US), Neustar (US), F5 (US), Ingenico (France), AWS (US), Bottomline Technologies (US), ClearSale (Brazil), Genpact(US), Kount (US), Securonix (US), Accertify (US), Feedzai (Portugal), Caseware (Canada), PerimeterX (US), OneSpan (US), Signifyd (US), BioCatch (Israel), FRISS (Netherlands), MaxMind (US), DataVisor (US), Cleafy (Italy), Gurucul (US), Pondera Solutions (US), Riskified (US), Alloy (US), Castle (US), Sift (US), NoFraud (US), Featurespace (UK), Enzoic (US), Merlon AI (US), Kubient (US), SpyCloud (US), SEON (Hungary), Nethone (Poland), Trustcheckr (India), Deduce (US), Incognia (US), and Resistant AI (Czech Republic) are the key players and other players in the FDP market.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com



Source link

You may also like

About Us

Arab Africana™ publishes and aggregates business, socio-economic, Tech and industrial news on Arab countries in Africa.

 

We provide press release distribution to media in Africa including Arab countries, the Arab world and the GCC/MENA regions. To submit a press release for distribution, contact us today.

Trending Now

Newsletter

    ArabAfricana logo-white

    Arab Africana is part of GroupWeb Media Network. ©  2024 GroupWeb Media LLC