The size of the global Fraud Detection and Prevention Market, estimated at USD 36.89 billion in 2022, is expected to increase by USD 182.66 billion by 2030, showing a CAGR of 22.6% over the forecast period, from USD 43.97 billion in 2023.
The market is expected to grow as a result of key companies' growing investments in introducing fraud solutions across a variety of industries, including BFSI, healthcare, manufacturing, and others. End-user companies and governments from a number of nations, including the US, India, Brazil, China, Germany, the UK, and Brazil, invest in implementing improved fraud prevention techniques. The shift in end users' priorities toward e-commerce platforms also accelerates the market's expansion. To expand their product offerings, the companies in this market concentrate on a number of business strategies.
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Which company dominates the Global Fraud Detection and Prevention Market?
- IBM Corporation (U.S.)
- Uplexis (Brazil)
- Experian Information Solutions, Inc. (Brazil)
- Gemalto - Thales Group (France)
- ACI Worldwide, Inc. (U.S.)
- BAE Systems (U.K.)
- Fair Isaac Corporation (U.S.)
- Fidelity National Information Services, Inc. (U.S.)
- LexisNexis (U.S.)
- NICE Actimize Ltd. (Israel)
What are the factors driving the growth of the Fraud Detection and Prevention Market?
The use of mobile banking services and online applications is expanding quickly, which has resulted in a sudden rise in the quantity of phony websites and mobile applications. Fake websites and online applications are becoming more prevalent in industries other than manufacturing and healthcare, including retail and e-commerce, manufacturing, and manufacturing. Customers are tricked into carrying out fraudulent online transactions by these websites and applications, which accurately resemble retail stores and home delivery services. Customers in the banking industry are increasingly focusing on mobile applications for a variety of functions, including online payment, statement review, complaint filing, and feedback submission, among others.
What are the geographical insights of the Fraud Detection and Prevention Market?
Geographically speaking, the world market is split into five main regions: North America, Asia Pacific, Europe, South America, and the Middle East Africa.
Apple Inc., Samsung Group, and other well-known mobile payment industry participants in North America are concentrating on introducing cutting-edge technology-enabled mobile payment services built on fraud prevention solutions.
To protect sensitive data from expanding cyberattacks, businesses in the US and Canada are concentrating on implementing FDP solutions. The U.S. and Canadian governments are actively implementing a number of strategies to introduce a reliable and secure payment platform with the integration of cutting-edge fraud prevention solutions.
Read More On The Fraud Detection and Prevention Market Report At:
An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "Fraud Detection and Prevention Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Fraud Detection and Prevention Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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