Global Fraud Detection and Prevention (FDP) Market

Modern day business procedures depend on sophisticated technology. However, these advanced software and management systems do have loopholes that can be craftily manipulated by an expert, to gain benefits. Fraud has been on the rise incurring heavy losses for enterprises and has become a major issue.The BFSI sector is the main area of focus of fraudsters, due to high value monetary transactions and card payments.Rising number and amount of transactions, along with rapid technological advancements, have led to a staggering increase in fraud losses across the BFSI vertical. As the volume of online and card-related transactions is growing, specially post demonetization (in the Indian Market), the possibility of frauds has risen significantly, which has encouraged the industry to adopt and implement several technological solutions like FDP, to curb frauds and cut down on losses.

Technology

Fraud detection and prevention systems (FDP) are those software applications which are used to provide analytical solutions for detection and prevention of fraud in future. Authentication solutions and fraud analytical solutions comprise the core of FDP systems. FDP systems analyze data from a vast range of data sources for possible inaccuracies, analyzes patterns, anomalies and trends in the transactions. It identifies the outliers and exhibits the same in case of doubtful situations and transactions. FDP prevents unauthorized access preventing fraud incidents, verifies user identity and maintains data integrity.

Market Dynamics

Growth in the enterprise data and its complexity, industry specific requirements, and rise in the cost of fraud, are some of the drivers for the FDP market. Technological advancements and regulatory changes also act as factors in driving demand for FDP. However, high cost involvement, low level of awareness, and unavailability of pre-deployment measures are expected to restrain the growth of the FDP market.New visualization tools and applications along with customer analytics and predictive analytics will further enhance the demand for FDP.

Market Segmentation

The globalFDP market has been broadly fragmented by solution, fraud type, Nature of fraud, scale of end-user and verticals. As per solution, the market has been divided into fraud analytics, authentication (single factor and multi factor), governance, risk and compliance (GRC) solutions, reporting and visualization. On the basis of fraud type, it has been segregated into internal fraud and external fraud. In terms of nature of fraud, the market has been segmented into suspicious activities reports, alerts, illegal activity, money laundering, terrorism financing and data anomalies, error and omissions.

The application of FDP comprises multiple sectors, such as BFSI, manufacturing, retail, communication, healthcare, government, real estate, media and entertainment, energy and power, travel and transportation, professional services and others.

Geographic Analysis

North America is expected to hold major share for FDP market in upcoming years, owing to a high concentration of business enterprises, followed closely by Europe which has also shown similar trends. Asia-pacific is expected to exhibit highest growth rate due to globalization and new investment regulations fueling the increase in number of small and medium scale enterprises (SME's). India and Japan, with rapid rise of SMEs and industrial sector growth, are projected to transform into lucrative markets with high growth potential. Latin America will also provide high growth rate because of improved investment opportunities.

Key Players

Some of the prominent players in the Fraud Detection and Prevention (FDP) market include Visa Inc., ACI Worldwide, Inc., SAS Institute Inc., BAE Systems Detica, SAP, Bosch Software Innovations Gmbh, Oracle, Computer Sciences Corporation, Mastercard, EMC Corporation, IBM, FICO (Fair Isaac Corporation), Fiserv, Inc., and FIS Company among others.ValidSoft UK Ltd., Alaric Systems Ltd., Threatmetrix, Cvidya, Lavastorm Analytics and Easy Solutions Inc. are some of the key innovators performing in the market.

Report Contents:

> Market segments

> Market Drivers, Restraints and Opportunities

> Market Size & Forecast 2016 to 2022

> Supply & Demand Value Chain

> Market - Current Trends

> Competition & Major Companies

> Technology and R&D Status

> Porters Five Force Analysis

> Strategic and Critical Success Factor Analysis of Key Players

Regional Analysis:

> North America

>> US and Canada

> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America

> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)

>> Nordic Countries (Denmark, Finland, Norway, and Sweden)

>> Benelux (Belgium, The Netherlands, and Luxembourg)

>> Rest of Western Europe

> Eastern Europe

>> Russia

>> Poland

>> Rest of Eastern Europe

> Asia Pacific

>> China

>> India

>> Japan

>> Australia and New Zealand

>> Rest of Asia Pacific

> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)

>> South Africa

>> North Africa

>> Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Report Highlights:

> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

> Consumer and Pricing Analysis

> Market dynamics of the industry

> Market Segmentation

> Estimated Market Sizing in terms of volume and value

> Recent trends in Market and impact

> Research Status and Technology Overview

> Extensive Industry Structure Coverage