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Fraud Detection & Prevention Market by Solution Type, Services, Deployment Type, End User, Industry Vertical, and Geography - Global Opportunity Analysis and Industry Forecast, 2016-2023

  • ID: 4580522
  • Report
  • February 2018
  • Region: Global
  • 176 Pages
  • Allied Analytics LLP
The global fraud detection & prevention market size was valued at $13,644 million in 2016, and is expected to reach $40,610 million by 2023, growing at a CAGR of 17% during the forecast period. Fraud detection & prevention solutions are solutions offered by IT vendors against fraud incidents and help to detect or prevent such future occurrences.

The current business scenario has witnessed an upsurge in the adoption of fraud detection & prevention solutions in developed as well as the developing regions. The companies adopt efficient techniques to provide customers with innovative and modernized security offerings. Introduction of big data analytics and cloud computing services, and increase in mobile payment drive the growth of the fraud detection & prevention market. Although continuous technological advancements prevailing in the market are promoting market expansion, factors such as high cost of these solutions may restrict the fraud detection & prevention market growth. The global fraud detection & prevention market is segmented based on solution type, services, deployment type, end user, industry vertical, and geography. On the basis of solution type, it is bifurcated into fraud analytics and authentication. The authentication segment accounted for the largest market share of around 57.9% in 2016, owing to high demand for effective fraud detection solutions and real-time operations due to increase in online payment transactions. The services segment is classified based on professional services and managed services. Managed services is expected to exhibit the highest growth rate during the forecast period, as they integrate with the company’s intellectual property to provide end-to-end solutions tailored to meet the organization’s exact requirements. Based on deployment model, the market is segmented into cloud and on-premises models. By end user, it is divided into small & medium enterprises (SMEs) and large enterprises (LE). Industries analyzed in this report include banking, financial service & insurance (BFSI); retail; healthcare; real estate; manufacturing; and others. The BFSI industry generated the highest revenue in 2016, accounting for around $3,498 million, and is expected to maintain its lead in the future. This growth is attributed to increase in number & frequency of sophisticated attacks in the banking sector, which has led to the development of analytical solutions to predict and prevent fraud. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific exhibits the highest rate of adoption of fraud detection solutions, while LAMEA is expected to grow at a significant growth rate, predicting a lucrative market growth for fraud detection & prevention solutions, especially in Brazil, South Africa, and Argentina. Key players operating in the global fraud detection & prevention market are IBM Corporation, Oracle Corporation, SAS Institute Inc., Fair Isaac Corporation., SAP SE, BAE Systems, ACI Worldwide, NCR Limited, Lavastorm Analytics, and ThreatMetrix. KEY BENEFITS FOR STAKEHOLDERS In-depth analysis of the global fraud detection and prevention market along with its dynamics is provided to understand the market scenario. Quantitative analysis of the current trends and future estimations from 2016 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities. Porter’s Five Forces analysis examines the competitive structure of the fraud detection and prevention market and provides a clear understanding of the factors that influence the market entry and expansion. A detailed analysis of the geographical segments enables identification of profitable segments for market players. Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report. Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions. Profile analysis of leading players that operate in the fraud detection and prevention market are provided in the report, which highlight the major developmental strategies. KEY MARKET SEGMENTS By Solution Type Fraud Analytics Predictive Analytics Customer Analytics Social Media Analytics Bigdata Analytics Behavioral Analytics Authentication Single-Factor Authentication Multifactor Authentication By Services Professional Managed By Deployment Type Cloud On-Premises By End User Small & Medium Enterprises (SMEs) Large Enterprises By Industry Vertical BFSI Retail Healthcare Real Estate Manufacturing Others By Geography North America U.S. Mexico Canada Europe Germany UK France Russia Rest of Europe Asia-Pacific China India Japan Rest of Asia-Pacific LAMEA Latin America Middle East Africa Key players IBM Corporation Oracle Corporation SAS Institute Inc. Fair Isaac Corporation SAP SE BAE Systems ACI Worldwide NCR Limited Lavastorm ThreatMetrix
Frequently Asked Questions about the Global Fraud Detection & Prevention Market

What is the estimated value of the Global Fraud Detection & Prevention Market?

The Global Fraud Detection & Prevention Market was estimated to be valued at $13644.0 million in 2016.

What is the growth rate of the Global Fraud Detection & Prevention Market?

The growth rate of the Global Fraud Detection & Prevention Market is 16.9%, with an estimated value of $40610.0 million by 2023.

What is the forecasted size of the Global Fraud Detection & Prevention Market?

The Global Fraud Detection & Prevention Market is estimated to be worth $40610.0 million by 2023.
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CHAPTER 1 INTRODUCTION 1.1. REPORT DESCRIPTION 1.2. KEY BENEFITS 1.3. MARKET SEGMENTATION 1.4. RESEARCH METHODOLOGY 1.4.1. Secondary research 1.4.2. Primary research 1.4.3. Analyst tools and models CHAPTER 2 EXECUTIVE SUMMARY 2.1. CXO PERSPECTIVE CHAPTER 3 MARKET OVERVIEW 3.1. MARKET DEFINITION AND SCOPE 3.2. KEY FINDINGS 3.2.1. Top impacting factors 3.2.2. Top winning strategies 3.2.3. Top investment pockets 3.3. PORTERS FIVE FORCES ANALYSIS 3.3.1. Bargaining power of suppliers 3.3.2. Bargaining power of buyers 3.3.3. Threat of substitutes 3.3.4. Threat of new entrants 3.3.5. Intensity of competitive rivalry 3.4. MARKET PLAYER POSITIONING 3.5. MARKET DYNAMICS 3.5.1. Drivers Emergence of big data analytics Growing demand for cloud-based security solutions Rapid increase in mobile banking 3.5.2. Restraints High cost of fraud detection and prevention solutions 3.5.3. Opportunities Need for strong authentication methods CHAPTER 4 FRAUD DETECTION & PREVENTION MARKET, BY SOLUTION 4.1. OVERVIEW 4.1.1. Market size and forecast 4.2. FRAUD ANALYTICS 4.2.1. Key market trends 4.2.2. Key drivers and opportunities 4.2.3. Market size and forecast Predictive analytics Customer analytics Social media analytics Big data analytics Behavioral analytics 4.3. AUTHENTICATION 4.3.1. Key market trends 4.3.2. Key drivers and opportunities 4.3.3. Market size and forecast Single factor authentication Multi factor authentication CHAPTER 5 FRAUD DETECTION AND PREVENTION MARKET, BY SERVICE 5.1. OVERVIEW 5.1.1. Market size and forecast 5.2. PROFESSIONAL SERVICES 5.2.1. Key market trends 5.2.2. Key drivers and opportunities 5.2.3. Market size and forecast 5.3. MANAGED SERVICES 5.3.1. Key market trends 5.3.2. Key drivers and opportunities 5.3.3. Market size and forecast CHAPTER 6 FRAUD DETECTION AND PREVENTION MARKET, BY END-USER 6.1. OVERVIEW 6.1.1. Market size and forecast 6.2. SMALL AND MEDIUM ENTERPRISES (SME) 6.2.1. Key market trends 6.2.2. Key drivers and opportunities 6.2.3. Market size and forecast 6.3. LARGE ENTERPRISES 6.3.1. Key market trends 6.3.2. Key drivers and opportunities 6.3.3. Market size and forecast CHAPTER 7 FRAUD DETECTION AND PREVENTION MARKET, BY DEPLOYMENT TYPE 7.1. OVERVIEW 7.1.1. Market size and forecast 7.2. CLOUD 7.2.1. Key market trends 7.2.2. Key drivers and opportunities 7.2.3. Market size and forecast 7.3. ON-PREMISES 7.3.1. Key market trends 7.3.2. Key drivers and opportunities 7.3.3. Market size and forecast CHAPTER 8 FRAUD DETECTION AND PREVENTION MARKET, BY INDUSTRY VERTICAL 8.1. OVERVIEW 8.1.1. Market size and forecast 8.2. BFSI (BANKING, FINANCIAL SERVICE & INSURANCE) 8.2.1. Key market trends 8.2.2. Key drivers and opportunities 8.2.3. Market size and forecast 8.3. RETAIL 8.3.1. Key market trends 8.3.2. Key drivers and opportunities 8.3.3. Market size and forecast 8.4. HEALTHCARE 8.4.1. Key market trends 8.4.2. Key drivers and opportunities 8.4.3. Market size and forecast 8.5. REAL ESTATE 8.5.1. Key market trends 8.5.2. Key drivers and opportunities 8.5.3. Market size and forecast 8.6. MANUFACTURING 8.6.1. Key market trends 8.6.2. Key drivers and opportunities 8.6.3. Market size and forecast 8.7. OTHERS 8.7.1. Key market trends 8.7.2. Key drivers and opportunities 8.7.3. Market size and forecast CHAPTER 9 FRAUD DETECTION AND PREVENTION MARKET, BY GEOGRAPHY 9.1. OVERVIEW 9.2. NORTH AMERICA 9.2.1. Key market trends 9.2.2. Key drivers and opportunities 9.2.3. Market size and forecast U.S. Canada Mexico 9.3. EUROPE 9.3.1. Key market trends 9.3.2. Key drivers and opportunities 9.3.3. Market size and forecast Germany UK France Russia Rest of Europe 9.4. ASIA-PACIFIC 9.4.1. Key market trends 9.4.2. Key drivers and opportunities 9.4.3. Market size and forecast China India Japan Rest of Asia-Pacific 9.5. LAMEA 9.5.1. Key market trends 9.5.2. Key drivers and opportunities 9.5.3. Market size and forecast Latin America Middle East Africa CHAPTER 10 COMPANY PROFILES 10.1. ACI WORLDWIDE, INC. 10.1.1. Company overview 10.1.2. Company snapshot 10.1.3. Operating business segments 10.1.4. Product portfolio 10.1.5. Business performance 10.1.6. Key strategic moves & developments, 2014-2017 10.2. BAE SYSTEMS, INC. 10.2.1. Company overview 10.2.2. Company snapshot 10.2.3. Operating business segments 10.2.4. Product portfolio 10.2.5. Business performance 10.2.6. Key strategic moves & developments, 2013-2017 10.3. FAIR ISAAC CORPORATION 10.3.1. Company overview 10.3.2. Company snapshot 10.3.3. Operating business segments 10.3.4. Product portfolio 10.3.5. Business performance 10.3.6. Key strategic moves & developments, 2017 10.4. INTERNATIONAL BUSINESS MACHINES CORPORATION 10.4.1. Company overview 10.4.2. Company snapshot 10.4.3. Operating business segments 10.4.4. Product portfolio 10.4.5. Business performance 10.4.6. Key strategic moves & developments 10.5. LAVASTORM ANALYTICS 10.5.1. Company overview 10.5.2. Company snapshot 10.5.3. Operating business segments 10.5.4. Product portfolio 10.6. NCR CORPORATION (ALARIC SYSTEMS LIMITED) 10.6.1. Company overview 10.6.2. Company snapshot 10.6.3. Operating business segments 10.6.4. Product portfolio 10.6.5. Business performance 10.6.6. Key strategic moves & developments, 2014-2016 10.7. ORACLE CORPORATION 10.7.1. Company overview 10.7.2. Company snapshot 10.7.3. Operating business segments 10.7.4. Product portfolio 10.7.5. Business performance 10.8. SAP SE 10.8.1. Company overview 10.8.2. Company snapshot 10.8.3. Operating business segments 10.8.4. Product portfolio 10.8.5. Business performance 10.8.6. Key strategic moves & developments, 2016 10.9. SAS INSTITUTE INC. 10.9.1. Company overview 10.9.2. Company snapshot 10.9.3. Operating business segments 10.9.4. Product portfolio 10.9.5. Business performance 10.9.6. Key strategic moves & developments, 2016 10.10. THREATMETRIX INC. 10.10.1. Company overview 10.10.2. Company snapshot 10.10.3. Operating business segments 10.10.4. Product portfolio 10.10.5. Key strategic moves & developments, 2016
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According to a new report titled, Fraud Detection & Prevention Market by Solution, Services, Deployment Type, End User, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2016-2023, the global fraud detection & prevention market was valued at $13,644 million in 2016, and is expected to reach $40,610 million by 2023, growing at a CAGR of 17% from 2017 to 2023. The banking, financial services & insurance (BFSI) and manufacturing sectors are expected to dominate the global market. North America was the leading contributor to the global revenue, whereas, Asia-Pacific is projected to be dominant region by 2023. Emergence of big data analytics across various industries, such as BFSI, retail, manufacturing, healthcare, real estate, and others, high demand for cloud services, and proliferation of mobile devices for payment are expected to drive the market growth. Mobile phones enable easy access to personally identifiable information such as email address, home address, and banking & stored payment information. However, high installation cost of deploying varied prevention solutions, including predictive analytics, big data analytics, customer analytics, and others, hinders this growth. In 2016, BFSI accounted for maximum revenue share, owing to frequent incident of fraudulent activities, specifically in mobile transactions. For instance, in January 2018, HID Global collaborated with ThreatMark, a threat and fraud detection technology provider to develop new features to improve the ability of financial organizations to identify cyber threats such as malware, identity theft, and account takeover. Rise in demand for advanced authentication provides numerous growth opportunities for market expansion in the government sector. In addition, the retail segment is projected to grow at a highest CAGR of 18.7%, owing to rise in incident of card-related frauds, transactions, and revenue loses. The authentication segment generated the highest revenue in 2015, as organizations largely invest on technologies that can protect data from security risks and malware attacks. The fraud analytics solution is expected to grow at the highest CAGR, as these solutions analyze various forms of data and then covert them to actionable insights. In addition, rise in adoption of advanced analytics techniques and competitive intelligence that involves tactful data collection & collation, analysis, and formation of meaningful insights that enables in making strategic business decisions supplements the fraud detection & prevention market growth. In 2016, North America accounted for a major share in the global fraud detection & prevention market. However, Asia-Pacific is expected to dominate by 2023, owing to increase in rate of Internet penetration in India, China, Japan, Malaysia, and Singapore as organizations need to protect corporate and personal information from fraud attacks. Furthermore, the need to support secure enterprise mobility practices within organizations is expected to boost the demand for fraud detection & prevention solutions. Key findings of the Fraud Detection & Prevention Market: In 2016, authentication dominated the overall fraud detection & prevention solutions segment, in terms of revenue, and is projected to grow at a CAGR of 16.4% during the forecast period. Managed services is estimated to grow at the highest CAGR of 17.4 % during the forecast period On-premises deployment type is anticipated to generate the highest revenue by 2023. Small & medium enterprises (SMEs) is projected to grow at the highest CAGR of 17.8% during the forecast period. The retail segment is expected to witness the highest growth rate of 18.7% during the forecast period. In 2016, North America generated the highest revenue in the global market, while Asia-Pacific is expected to grow at a significant CAGR of 18.2%. Prominent players, such as IBM Corporation, BAE Systems, SAP SE, Oracle Corporation, ACI Worldwide, and others, focus on product launch, acquisition, and partnership for expansion in the market. For instance, in 2016, IBM Corporation acquired IRIS Analytics, a privately held company specializing in real-time analytics to help combat fraud.
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.