(EMAILWIRE.COM, June 14, 2024 ) According to a research report “Fraud Detection and Prevention Market by Offering (Solutions (Fraud Analytics, Authentication, and GRC) and Services (Professional and Managed)), Fraud Type, Deployment Mode, Organization Size, Vertical and Region – Global Forecast to 2029” published by MarketsandMarkets, the fraud detection and prevention (FDP) market size is projected to grow from USD 28.8 billion in 2024 to USD 63.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period. The key driver of fraud detection and prevention is regulatory compliance requirements. With stringent regulations in place, organizations are compelled to adopt robust strategies to combat financial crimes and protect consumer interests. Compliance mitigates legal risks, and fosters trust among stakeholders, driving organizations to prioritize efforts in fraud prevention.
Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1312
Browse 745 market data Tables and 68 Figures spread through 544 Pages and in-depth TOC on “Fraud Detection and Prevention Market – Global Forecast to 2029”
Based on the offering, the solutions segment accounts for the highest market size during the forecast period.
The adoption of fraud detection and prevention solutions has surged as organizations must adopt a multi-layered approach to combat modern fraud, which is becoming increasingly sophisticated. Key strategies include implementing advanced fraud detection technologies like AI, machine learning, behavioral analytics, and biometric verification. These provide real-time analysis, adapt to new fraud patterns, and offer more effective and user-friendly prevention. Also, strong authentication measures such as multi-factor authentication should be established to verify user identities and prevent unauthorized access. Moreover, developing a comprehensive fraud prevention policy that outlines roles, processes, and consequences while providing ongoing employee education and awareness.
By deployment mode, the cloud segment will grow at the highest CAGR during the forecasted period.
The cloud deployment mode in fraud detection and prevention is rapidly increasing among organizations worldwide. This shift is driven by several factors, including the need for scalability, agility, and cost-effectiveness in combating evolving fraud threats. Cloud-based solutions offer the flexibility to scale resources dynamically, allowing organizations to handle fluctuating workloads and accommodate growing data volumes more efficiently than traditional on-premises systems. Additionally, the cloud provides accessibility from any location with internet connectivity, enabling real-time monitoring and response to fraudulent activities. Moreover, cloud deployment reduces the burden of managing and maintaining infrastructure, allowing organizations to focus on improving fraud detection capabilities and enhancing overall security posture. Adopting cloud deployment mode in fraud detection and prevention empowers organizations to stay ahead of fraudsters while optimizing resource utilization and operational efficiency.
By region, Asia Pacific is to grow at the highest CAGR during the forecast period.
The Asia Pacific region comprises countries such as China, India, AnZ, Singapore, and Japan, leading in the FDP market. Asia Pacific region is expected to register high growth rates in the FDP market. China is the leading country in this market, with extensive adoption of FDP technology in various sectors, including BFSI, government, and healthcare. Other countries in the region, such as Japan, are also witnessing growth in the FDP market. Various factors, such as internal and external regulations and the growing focus of different industries to get a unified view of risk, are expected to contribute to market growth. Factors such as increasing compliances, internet usage, regulations, and increasing digitalization are the significant factors fueling the adoption of FDP solutions.
Key Players
Fiserv (US), FIS Global (US), Lexisnexis Risk Solutions (US), 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), F5 (US), AWS (US), Bottomline Technologies (US), ClearSale (Brazil), Genpact (US), Securonix (US), Accertify (US), Feedzai (Portugal), Caseware (US), OneSpan (US), Signifyd (US), BioCatch (Israel), Friss (Netherlands), MaxMind (US), DataVisor (US), Cleafy (Italy), Gurucul (US), Riskified (Israel and US), Thomson Reuters (US), Sift (US), NoFraud (US), Featurespace (UK), HUMAN Security (US), XTN Cognitive Security (Italy), Equifax (US), Alloy (US), Castle (US), Enzoic (US), Kubient (US), SpyCloud (US), SEON (Hungary), Deduce (US), Incognia (US), Resistant AI (Czech Republic), and Amani Technologies (UAE) are the key players and other players in the fraud detection and prevention 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
Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1312
Browse 745 market data Tables and 68 Figures spread through 544 Pages and in-depth TOC on “Fraud Detection and Prevention Market – Global Forecast to 2029”
Based on the offering, the solutions segment accounts for the highest market size during the forecast period.
The adoption of fraud detection and prevention solutions has surged as organizations must adopt a multi-layered approach to combat modern fraud, which is becoming increasingly sophisticated. Key strategies include implementing advanced fraud detection technologies like AI, machine learning, behavioral analytics, and biometric verification. These provide real-time analysis, adapt to new fraud patterns, and offer more effective and user-friendly prevention. Also, strong authentication measures such as multi-factor authentication should be established to verify user identities and prevent unauthorized access. Moreover, developing a comprehensive fraud prevention policy that outlines roles, processes, and consequences while providing ongoing employee education and awareness.
By deployment mode, the cloud segment will grow at the highest CAGR during the forecasted period.
The cloud deployment mode in fraud detection and prevention is rapidly increasing among organizations worldwide. This shift is driven by several factors, including the need for scalability, agility, and cost-effectiveness in combating evolving fraud threats. Cloud-based solutions offer the flexibility to scale resources dynamically, allowing organizations to handle fluctuating workloads and accommodate growing data volumes more efficiently than traditional on-premises systems. Additionally, the cloud provides accessibility from any location with internet connectivity, enabling real-time monitoring and response to fraudulent activities. Moreover, cloud deployment reduces the burden of managing and maintaining infrastructure, allowing organizations to focus on improving fraud detection capabilities and enhancing overall security posture. Adopting cloud deployment mode in fraud detection and prevention empowers organizations to stay ahead of fraudsters while optimizing resource utilization and operational efficiency.
By region, Asia Pacific is to grow at the highest CAGR during the forecast period.
The Asia Pacific region comprises countries such as China, India, AnZ, Singapore, and Japan, leading in the FDP market. Asia Pacific region is expected to register high growth rates in the FDP market. China is the leading country in this market, with extensive adoption of FDP technology in various sectors, including BFSI, government, and healthcare. Other countries in the region, such as Japan, are also witnessing growth in the FDP market. Various factors, such as internal and external regulations and the growing focus of different industries to get a unified view of risk, are expected to contribute to market growth. Factors such as increasing compliances, internet usage, regulations, and increasing digitalization are the significant factors fueling the adoption of FDP solutions.
Key Players
Fiserv (US), FIS Global (US), Lexisnexis Risk Solutions (US), 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), F5 (US), AWS (US), Bottomline Technologies (US), ClearSale (Brazil), Genpact (US), Securonix (US), Accertify (US), Feedzai (Portugal), Caseware (US), OneSpan (US), Signifyd (US), BioCatch (Israel), Friss (Netherlands), MaxMind (US), DataVisor (US), Cleafy (Italy), Gurucul (US), Riskified (Israel and US), Thomson Reuters (US), Sift (US), NoFraud (US), Featurespace (UK), HUMAN Security (US), XTN Cognitive Security (Italy), Equifax (US), Alloy (US), Castle (US), Enzoic (US), Kubient (US), SpyCloud (US), SEON (Hungary), Deduce (US), Incognia (US), Resistant AI (Czech Republic), and Amani Technologies (UAE) are the key players and other players in the fraud detection and prevention 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
