Increasing use of IP-based
services and emergence of e-banking and e-commerce to propel global fraud
detection and prevention market through 2024
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| Fraud Detection & Prevention Market |
According
to TechSci Research report, “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”, global fraud detection and
prevention market is expected to grow at significant rate during forecast
period on account of increasing cases of frauds, rising inclination towards cloud
services and growing use of digital data mode. As enterprises expand, the
amount of data also increases which elevates the risk for fraudulent activities,
which in turn, is driving global fraud detection and prevention market.
Browse an in-depth TOC on
"Global Fraud
Detection and Prevention Market"
Global
fraud detection and prevention market can be segmented based on component, fraud
type, deployment type, organization size, end user industry and region. In terms
of solution, the market can be bifurcated into fraud analytics, authentication
and others. Fraud analytics is witnessing high demand as it is responsible for
analyzing various kinds of data and converting them into insights and taking
necessary steps to prevent fraud. Based on enterprise, global fraud detection
and prevention market size is categorized into large enterprises and SMEs.
Large enterprises are witnessing high adoption of fraud detection and
prevention solutions and services owing to increase in financial losses and
hefty fines for regulatory incompliance. Among end users, BFSI leads global
fraud detection and prevention market as this vertical holds crucial
information of employees, customers and assets. Moreover, due to digitization
of the financial sector and increasing trend of online transaction, there is
increased risk for fraud, thereby further driving growth of this segment in the
market.
Fiserv Inc., IBM Corporation, Fair Isaac Corporation, ACI Worldwide, Inc.,
DXC Technology Company, SAP SE, SAS Institute Inc., Oracle Corp., BAE Systems
PLC, Dell Technologies Inc., etc. are some of the leading players operating in global
fraud detection and prevention market. Companies operating in the market are
using organic strategies such as product launches, mergers and collaborations to
boost their share. In 2017, Fair Isaac Corp. launched
FICO card comprise manager solution so as to detect card frauds. In 2018,
Fiserv introduced step-up authentication and identity verification to reduce
fraudulent activities in call centers.
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“North America accounts
for significant share in global fraud detection and prevention market and the
region is expected to continue its dominance during forecast period as well on
account of early adoption of online based services and e-tailing in countries
like US and Canada. Moreover, surging investment in fraud detection and
prevention solutions by various verticals and presence of leading players in
the region is further expected to bolster the growth of North America fraud
detection and prevention market in the coming years.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“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” has
evaluated the future growth potential of global fraud detection and prevention market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global fraud detection and prevention market.
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