Global Fraud Detection and Prevention Market By Solution Into: Fraud Analytics, Governance, and Authentication); End-user (Government, It & Telecom, Retail, BFSI, Healthcare, And Public Sector, Education, Transportation And Others); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Fraud detection and prevention systems offer research tools for fraud detection and prevention within an enterprise in the form of software programs. These tools are used to evaluate data from different sources in order to detect potential inconsistencies such as an anomaly or great supplier transactions.
Fatpos Global anticipates the Fraud Detection and Prevention market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. The increased need to deal with increased revenue losses from fraudulent attacks and the increasing use of electronic transactions throughout vertical end-use areas are key factors that drive the screening and prevention of fraud.
Global Fraud Detection and Prevention Market: Segments
Global Fraud Detection and Prevention Market has been segmented on the basis of solution, application type and by location. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East and Africa.
By Solution (in %), Global Fraud Detection and Prevention Market, 2019
Fraud Analytics are anticipated to grow at a CAGR of over 13% from 2019 to 2030
Global Fraud Detection and Prevention Market is segmented by solution into: Fraud Analytics, Governance, and Authentication.
In fraud detection and prevention during the projected timeline the fraud analysis segment is projected to increase. Fraud analysis is a vital discipline involving a variety of statistical methods for evaluating business processes and databases in order to find vulnerabilities in cases of fraud. They track and evaluate data from different data sources; detect faults, suspicious and irregular conduct in all networks. The diligent identification of fraud also helps to enhance compliance with robust information.
Global Fraud Detection and Prevention Market: Market Dynamics
• Increase in the number of attacks on endpoint:
According to the report by Fatpos global, the number of endpoint attacks has seen a significant rise of 15% since last year. There has been a significant increase in new and unknown attacks on the organization’s endpoints network. With such a rise in the number of endpoints attacks the awareness regarding its security is increasing.
• Lack of awareness
The major concern for the market growth is the lack of awareness. Many organizations are struggling with data breaches and threats to security because of insufficient knowledge. The most organization connects to open network unknown of the threats it can cause.
Global Fraud Detection and Prevention Market: Regions
The North America is anticipated to dominate the market with XX% market share in 2019 growing at a CAGR of XX% over the forecasted period.
The growth of regional markets is anticipated to augment increased investments by companies in specialized fraud prevention solutions in line with rigorous government rules like PCI DSS standards. The sensibilities of SMBs in their fraud detection strategies should also increase demand for these methods.
Asia Pacific: China, Japan, India, and Rest of Asia Pacific
Europe: Germany, the UK, France, and Rest of Europe
North America: The US, Mexico, and Canada
Latin America: Brazil and Rest of Latin America
Middle East & Africa: GCC Countries and Rest of Middle East & Africa
Global Fraud Detection and Prevention Market: Competitive landscape
The focus of the markets is on growing their share by means of mergers and acquisition. In order to broaden their market range by creating cost effectively-efficient products with improved properties, industry leaders concentrate on research and development activities. Therefore, manufacturers plan to increase their production capacity in order to meet the growing demand for goods. The key players are spread across the globe and prefer to carry out their activities through joint ventures.
Global Fraud Detection and Prevention Market: Key Players
• IBM (US)
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• SAS Institute (US)
• DXC Technology (US)
• LexisNexis Risk solutions (US)
• First Data (US)
• Software AG (Germany)
• Bitdefender (Romania)
• Distil Networks (US)
• BAE Systems (UK)
• SAP (Germany)
• Other prominent players
Global Fraud Detection and Prevention market report also contains analysis on:
• Fraud Detection and Prevention Market Segments:
o By Solution:
o End user:
IT & Telecom
Government and public sector
• Fraud Detection and Prevention Market Dynamics
• Fraud Detection and Prevention Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints