Global Fraud Detection and Prevention Market, By Component, By Fraud Type, By Deployment Type, By Organization Size, By End User Industry, By Region, Competition, Forecast & Opportunities, 2024

The Global Fraud Detection and Prevention Market is expected to grow at a CAGR of 18% during the forecast period owing to upsurge in electronic transactions and increasing instances of cyber-attacks and frauds. There is growing need for restricting such frauds as these activities incur huge financial losses to companies. Enterprises are now implementing advanced techniques such as data mining and machine learning techniques, which is anticipated to positively influence the Global Fraud Detection and Prevention Market during forecast period.

The Global Fraud Detection and Prevention Market can be segmented based on the component, fraud type, deployment type, organization size, end-user industry and region. Based on component, the Global Fraud Detection and Prevention Market is segmented into service and solution, of which the latter is further categorized into fraud analytics, authentication and others. Authentication segment is the dominating segment in the market and the trend is likely to continue during forecast period as it is used by various end-user industry in order to strengthen the authentication process. Based on the service, the market can be segmented into professional and managed services. Due to rise in productivity and safe financial management, professional services segment is expected to acquire the dominant share in the Global Fraud Detection and Prevention Market during forecast period. Fraud detection and prevention solutions can be deployed on-premise and cloud. Enterprises are readily adopting cloud services and solutions as they help to cut costs related to software, storage and administration staff.

Regionally, the fraud detection and prevention market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. In 2018, North America was leading the Global Fraud Detection and Prevention Market on account of early adoption of online based services and e-tailing in countries like US and Canada. Moreover, presence of leading vendors in the region is expected to positively influence the North American fraud detection and prevention market during forecast period.

Major players operating in the Global Fraud Detection and Prevention Market include Fiserv Inc., IBM Corporation, Fair Isaac Corporation, ACI Worldwide, Inc., Actimize Inc., SAP SE, SAS Institute Inc., Oracle Corp., BAE Systems PLC, Experian PLC, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market.

Years considered for this report:

• Historical Years: 2014-2017
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of the Global Fraud Detection and Prevention Market.
• To classify and forecast the Global Fraud Detection and Prevention Market based on component, fraud type, deployment type, organization size, end-user industry and regional distribution.
• To identify drivers and challenges for the Global Fraud Detection and Prevention Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Fraud Detection and Prevention Market.
• To identify and analyze the profile of leading players operating in the Global Fraud Detection and Prevention Market

Some of the leading players in the Global Fraud Detection and Prevention Market include Fiserv Inc., IBM Corporation, Fair Isaac Corporation, ACI Worldwide, Inc., Actimize Inc., SAP SE, SAS Institute Inc., Oracle Corp., BAE Systems PLC, Experian PLC, etc.

Both primary as well as exhaustive secondary research were performed for this study. Initially, Researchers sourced a list of service providers across the globe. Subsequently, They conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, they could include the service providers which could not be identified due to the limitations of secondary research. The author analyzed the service offerings, distribution channels and presence of all major service providers across the globe.

The author calculated the market size of the Global Fraud Detection and Prevention Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. Researchers sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Financial service providers
• Security and intelligence service providers
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to fraud detection and prevention market
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:
In this report, the Global Fraud Detection and Prevention Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, By Component:

• Solution
• Fraud Analytics
• Authentication
• Others
• Services
• Professional
• Managed

Market, By Fraud Type:

• Internal
• External

Market, By Deployment Type:

• On-premise
• Cloud

Market, By Organization Size:

• Small & Medium Sized Enterprises
• Large Enterprises

Market, By End-User Industry:

• Government
• BFSI
• Retail
• Manufacturing
• Healthcare
• Others

Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Netherlands
• Asia Pacific
• China
• Japan
• Singapore
• Australia
• India
• Middle East & Africa
• UAE
• South Africa
• Saudi Arabia
• Qatar
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

• Company Profiles: Detailed analysis of the major companies present in the Global Fraud Detection and Prevention Market.

Available Customizations:
With the given market data, the author offers customizations according to a client's specific needs.

Please note: With the Enterprise license, the PDF product is printable and editable and comes with a market data excel sheet.