The global fraud detection & prevention market size was valued at $13,644 million in 2016, and is expected to reach $40,610 million by 2023, growing at a CAGR of 17% during the forecast period. Fraud detection & prevention solutions are solutions offered by IT vendors against fraud incidents and help to detect or prevent such future occurrences.
The current business scenario has witnessed an upsurge in the adoption of fraud detection & prevention solutions in developed as well as the developing regions. The companies adopt efficient techniques to provide customers with innovative and modernized security offerings. Introduction of big data analytics and cloud computing services, and increase in mobile payment drive the growth of the fraud detection & prevention market. Although continuous technological advancements prevailing in the market are promoting market expansion, factors such as high cost of these solutions may restrict the fraud detection & prevention market growth.
The global fraud detection & prevention market is segmented based on solution type, services, deployment type, end user, industry vertical, and geography. On the basis of solution type, it is bifurcated into fraud analytics and authentication. The authentication segment accounted for the largest market share of around 57.9% in 2016, owing to high demand for effective fraud detection solutions and real-time operations due to increase in online payment transactions. The services segment is classified based on professional services and managed services. Managed services is expected to exhibit the highest growth rate during the forecast period, as they integrate with the company’s intellectual property to provide end-to-end solutions tailored to meet the organization’s exact requirements. Based on deployment model, the market is segmented into cloud and on-premises models. By end user, it is divided into small & medium enterprises (SMEs) and large enterprises (LE). Industries analyzed in this report include banking, financial service & insurance (BFSI); retail; healthcare; real estate; manufacturing; and others. The BFSI industry generated the highest revenue in 2016, accounting for around $3,498 million, and is expected to maintain its lead in the future. This growth is attributed to increase in number & frequency of sophisticated attacks in the banking sector, which has led to the development of analytical solutions to predict and prevent fraud. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific exhibits the highest rate of adoption of fraud detection solutions, while LAMEA is expected to grow at a significant growth rate, predicting a lucrative market growth for fraud detection & prevention solutions, especially in Brazil, South Africa, and Argentina.
Key players operating in the global fraud detection & prevention market are IBM Corporation, Oracle Corporation, SAS Institute Inc., Fair Isaac Corporation., SAP SE, BAE Systems, ACI Worldwide, NCR Limited, Lavastorm Analytics, and ThreatMetrix.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Solution Type
By Deployment Type
By End User
By Industry Vertical
Chemical tankers transport an enormous variety of chemical and oil products in global and short sea trade. Due to this variety the next cargo is almost never identical with the previous cargo. Thus tank cleaning is essential on chemical and product tankers. Scope of the Report: This report focuses on the Adhesive ...
February 2018 | $4880 |View Details>>
The global Automation Software market is valued at XX million USD in 2017 and is expected to reach XX million USD by the end of 2023, growing at a CAGR of XX% between 2017 and 2023. This report offers an overview of the market trends, drivers, and barriers with respect to ...
February 2018 | $3380 |View Details>>
The global Simulation Software market is valued at XX million USD in 2017 and is expected to reach XX million USD by the end of 2023, growing at a CAGR of XX% between 2017 and 2023. This report offers an overview of the market trends, drivers, and barriers with respect to ...
February 2018 | $3380 |View Details>>
This report mainly introduces volume and value market share by players, by regions, by product type, by consumers and also their price change details. As a Detailed Analysis report, it covers all details inside analysis and opinion in Analysis Software industry. This report splits Analysis Software market by Software Type, by ...
February 2018 | $4250 |View Details>>
UPCOMING MARKET RESEARCH REPORTS
2018 © Copyright Big Market Research