Press Release

Fraud Detection and Prevention Market Development, Key Opportunity, Application and Forecast to 2026 | Fortune Business Insights

Top Players in Fraud Detection and Prevention Market are HCL Technologies, IBM, Oracle, NCR Corporation, SAP Logistics Leadership, BAE Systems, ACI Worldwide, Lavastorm, an Infogix Company., ThreatMetrix

The global fraud detection and prevention market is anticipated to reach a market value of US$ 110,041.3 Mn by the end of 2026. Key insights into this growing market have been offered by Fortune Business Insights in a report, titled “Fraud Detection and Prevention Market Size, Share and Global Trend By Deployment (Cloud & On-premises), By Service Type (Fraud Analytics & Authentication), By Industry Vertical (IT and Telecommunication, Retail, Consumer Electronics, Manufacturing, Automotive, Transportation and Logistics, Energy and Utilities) and Geography Forecast till 2026”. The report evaluates the factors that will play the most influential role in the growth of the market. Fraudulent activity can be understood as any kind of deception that is criminal in nature and is performed for financial or personal gain. The most rampant frauds are known to take place in the banking sector such as forging checks, phishing activities, stealing of credit and debit cards, the opening of fake accounts, and so on. The other sector where frauds have become commonplace is insurance. Here, frauds are mainly seen in the form of false insurance claims.

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Key Segment within the Market

1. By Component

  • Solution
  • Fraud Analytics
  • Predictive Analytics
  • Customer Analytics
  • Social Media Analytics
  • Big data Analytics
  • Behavioral Analytics
  • Authentication
  • Single –Factor Authentication
  • Multi-Factor Authentication
  • Governance, Risk and Compliance
  • Services
  • Others

2. By Application area

  • Insurance Claims
  • Money Laundering
  • Electronic Payment
  • Others

3. By Organization Size

  • Large
  • Small & Medium Enterprises (SMEs)

4. By Deployment

  • On-Premise
  • Cloud

5. By Vertical

  • BFSI
  • IT & Telecommunication
  • Government
  • Retail & Consumer Packed Goods
  • Manufacturing
  • Healthcare and Life Sciences
  • Construction & Real Estate
  • Travel and Transportation
  • Energy and Utilities
  • Media & Entertainment
  • Others

6. By Geography

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

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The advent of Cloud-based Computing to Aid Market Growth

The global fraud detection and prevention market is set to grow formidably in the wake of the rapidly developing cloud-based software solutions and advanced analytics. Cloud computing offers speedy fraud detection and prevention mechanisms for financial institutions, which has increased its demand all over the globe. One of the key benefits of cloud infrastructure is the multi-layered security it provides for the personal data of users. Moreover, it also enables the facilitation of secure online transactions. Advancements in big data analytics, artificial intelligence, and machine learning technologies enable organizations to pre-empt frauds and take the necessary steps to prevent them. As more and more industries and markets start recognizing the benefits of cloud-based security systems, their demand is expected to rise. As a result, global fraud detection and prevention market will gain momentum in the forecast period.

Key Industry Developments

  • Aug ,2018 – Fiserv, Inc. (NASDAQ: FISV), launched two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centres.
  • April, 2019 – BAE Systems introduced the NetReveal Fraud Prevention Solution with advanced analytics and detection methodologies employing machine learning techniques helping banks, insurers, and government agencies identify fraudulent activities.

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Key Players Identified

The global fraud detection and prevention market is poised to become a competitive one due to its multi-dimensional nature and scope. The promising market is expected to attract innovative participants; some of them are already increasing their market presence through collaborations and new products. For example, in January 2018, US-based IBM and Denmark-based Maersk collaborated to develop a global trade platform using blockchain technology.

Key companies covered in the repor

  • Fico
  • IBM
  • Fiserv, Inc.
  • FIS Global
  • ACI Worldwide
  • Bae Systems
  • Experian Information Solutions, Inc.
  • Software AG
  • Nice
  • DXC Technology
  • Dell Technologies
  • SAS Institute

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/fraud-detection-and-prevention-market-100231

Table of Content

5. Global Fraud Detection and Prevention Market Analysis, Insights and Forecast, 2015-2026

5.1. Key Findings / Summary

5.2. Market Sizing Estimations and Forecasts – By Component (US$ Mn)

5.2.1. Solutions

5.2.1.1. Fraud Analytics

5.2.1.1.1. Predictive Analytics

5.2.1.1.2. Customer Analytics

5.2.1.1.3. Social Media Analytics

5.2.1.1.4. Big Data Analytics

5.2.1.1.5. Behavioural Analytics

5.2.1.2. Authentication

5.2.1.2.1. Single-Factor Authentication

5.2.1.2.2. Multi-Factor Authentication

5.2.1.3. Governance, Risk, and Compliance

5.2.2. Services

5.2.2.1. Professional Services

5.2.2.1.1. Consulting

5.2.2.1.2. Training and Education

5.2.2.1.3. Support and Maintenance

5.2.2.2. Managed Services

5.3. Market Sizing Estimations and Forecasts – By Application (US$ Mn)

5.3.1. Insurance claims

5.3.2. Money laundering

5.3.3. Electronic payment

5.3.4. Others

5.4. Market Sizing Estimations and Forecasts – By Deployment (US$ Mn)

5.4.1. Cloud

5.4.2. On-Premises

5.5. Market Sizing Estimations and Forecasts – By Organization Size (US$ Mn)

5.5.1. Small and Medium Enterprises (SMEs)

5.5.2. Large Enterprises

5.6. Market Sizing Estimations and Forecasts – By Vertical (US$ Mn)

5.6.1. BFSI

5.6.2. IT and Telecom

5.6.3. Retail and Consumer Packaged Goods

5.6.4. Government

5.6.5. Real Estate and Construction

5.6.6. Energy and Utilities

5.6.7. Travel and Transportation

5.6.8. Manufacturing

5.6.9. Healthcare and Life Sciences

5.6.10. Media and Entertainment

5.6.11. Others

5.7. Market Analysis, Insights and Forecast – By Geography (US$ Mn)

5.7.1. North America

5.7.2. Europe

5.7.3. Asia Pacific

5.7.4. Middle East and Africa

5.7.5. Latin America

6. North America Fraud Detection and Prevention Market Analysis, Insights and Forecast, 2015-2026

6.1. Key Findings / Summary

6.2. Market Sizing Estimations and Forecasts – By Component (US$ Mn)

6.2.1. Solutions

6.2.1.1. Fraud Analytics

6.2.1.1.1. Predictive Analytics

6.2.1.1.2. Customer Analytics

6.2.1.1.3. Social Media Analytics

6.2.1.1.4. Big Data Analytics

6.2.1.1.5. Behavioural Analytics

6.2.1.2. Authentication

6.2.1.2.1. Single-Factor Authentication

6.2.1.2.2. Multi-Factor Authentication

6.2.1.3. Governance, Risk, and Compliance

6.2.2. Services

6.2.2.1. Professional Services

6.2.2.1.1. Consulting

6.2.2.1.2. Training and Education

6.2.2.1.3. Support and Maintenance

6.2.2.2. Managed Services

6.3. Market Sizing Estimations and Forecasts – By Application (US$ Mn)

6.3.1. Insurance claims

6.3.2. Money laundering

6.3.3. Electronic payment

6.3.4. Others

6.4. Market Sizing Estimations and Forecasts – By Deployment (US$ Mn)

6.4.1. Cloud

6.4.2. On-Premises

6.5. Market Sizing Estimations and Forecasts – By Organization Size (US$ Mn)

6.5.1. Small and Medium Enterprises (SMEs)

6.5.2. Large Enterprises

6.6. Market Sizing Estimations and Forecasts – By Vertical (US$ Mn)

6.6.1. BFSI

6.6.2. IT and Telecom

6.6.3. Retail and Consumer Packaged Goods

6.6.4. Government

6.6.5. Real Estate and Construction

6.6.6. Energy and Utilities

6.6.7. Travel and Transportation

6.6.8. Manufacturing

6.6.9. Healthcare and Life Sciences

6.6.10. Media and Entertainment

6.6.11. Others

6.7. Market Analysis, Insights and Forecast – By Country (US$ Mn)

6.7.1. United States

6.7.2. Canada

7. Europe Fraud Detection and Prevention Market Analysis, Insights and Forecast, 2015-2026

7.1. Key Findings / Summary

7.2. Market Sizing Estimations and Forecasts – By Component (US$ Mn)

7.2.1. Solutions

7.2.1.1. Fraud Analytics

7.2.1.1.1. Predictive Analytics

7.2.1.1.2. Customer Analytics

7.2.1.1.3. Social Media Analytics

7.2.1.1.4. Big Data Analytics

7.2.1.1.5. Behavioural Analytics

7.2.1.2. Authentication

7.2.1.2.1. Single-Factor Authentication

7.2.1.2.2. Multi-Factor Authentication

7.2.1.3. Governance, Risk, and Compliance

7.2.2. Services

7.2.2.1. Professional Services

7.2.2.1.1. Consulting

7.2.2.1.2. Training and Education

7.2.2.1.3. Support and Maintenance

7.2.2.2. Managed Services

7.3. Market Sizing Estimations and Forecasts – By Application (US$ Mn)

7.3.1. Insurance claims

7.3.2. Money laundering

7.3.3. Electronic payment

7.3.4. Others

7.4. Market Sizing Estimations and Forecasts – By Deployment (US$ Mn)

7.4.1. Cloud

TOC Continued……!

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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