Global Fraud Detection and Prevention Market
The Global Fraud Detection and Prevention Market was valued at USD 14.65 billion in 2016 and is projected to reach USD 78.18 billion by 2025, growing at a CAGR of 20.45% from 2017 to 2025.
Any illegal act involving the obtaining of something of value through willful misrepresentation is called fraud. Fraud Prevention and Detection is the prevention and detection and adequate response to fraudulent activitiesand prevents unauthorized access. A fraud prevention and detection system helps in real-time user-level decision making, device fingerprinting, and comprehensive scoring models that directly correlate to data quality that benefits the clients to expand revenues, recapture lost opportunity costs, minimize charge backs, and centralize fraud intelligence system.
1. Market Drivers
1.1 Incorporation of AI and machine learning for fraud detection
1.2 Increasing economies
1.3 Growing rate of online transaction over mobile and web applications
1.4 Rising fraudulent activities
1.5 Growing revenue loss for organizations
2. Market Restraints
2.1 Lack of awareness about possible fraudulent in various industries
2.2 Poor integration capabilities
2.3 Costly deployment
2.4 Prior detection of fraudulent activities
The Global Fraud Detection and Prevention Market is segmented on the application, component, organization size, deployment model, vertical, and region.
1. By Application:
1.1 Mobile payment
1.2 Insurance claims
1.3 Electronic payment
1.4 Money laundering
2. By Component:
2.1.2 Fraud analytics
220.127.116.11 Social media analytics
18.104.22.168 Customer analytics
22.214.171.124 Predictive analytics
126.96.36.199 Behavioral analytics
188.8.131.52 Big data analytics
2.1.3 GRC solutions
2.2.1 Managed services
2.2.2 Professional services
184.108.40.206 Support and maintenance
220.127.116.11 Training and education
3. By Organization Size:
3.1 Large Enterprises
3.2 Small and Medium Business
4. By Deployment Model:
5. By Vertical:
5.1 Government and Defense
5.2 IT and Telecommunications
5.3 Banking, Financial Services, and Insurance (BFSI)
5.4 Real Estate
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Experian Information Solutions, Inc.
3. Fair Isaac Corporation
4. IBM Corporation
5. Oracle Corporation
6. ACI Worldwide, Inc
7. SAS Institute
8. Fiserv, Inc.
9. BAE Systems
10. Nice Systems Ltd.
11. DXC Technology (CSC)
12. Threatmetrix, Inc.
13. SAP SE
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Fraud Detection and Prevention Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team.
Verified Market Research has been providing Research Reports, with up to date information, and in-depth analysis, for several years now, to individuals and companies alike that are looking for accurate Research Data. It has large database which includes the latest content from renowned authors and publications worldwide. It also provides customized Data and Reports according to the need of the client.