Press Release

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Fraud Detection and Prevention Market to Grow at a CAGR of 16.80% During 2022-2027, Aided by the Increasing Number of Digital Transactions Worldwide

According to a new report by EMR titled, ‘Global Fraud Detection and Prevention Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 29658.96 million in 2021. The industry is further expected to grow at a CAGR of 16.80% in the forecast period of 2022-2027 to reach almost USD 75303.12 million by 2027.

The global fraud detection and prevention industry is being driven by the growing adoption of smartphones and the availability of high-speed internet across the globe. The growing applications of machine learning and artificial intelligence and the rapid innovations in the IT sector have significantly boosted the growth of the industry. In developing countries like India, the growing population and rapidly increasing number of active internet users have significantly accelerated the growth of the market. Furthermore, the increased penetration of the key industry players in the Asia Pacific region is also aiding the industry growth. Within the Asia Pacific, various companies in countries such as Japan, South Korea, India, and China are increasing their investments to adopt fraud detection and prevention systems. Over the forecast period, the retail segment is predicted to have a significant growth owing to the growing preference for online transactions over cash to make a purchase.

The growing adoption of fraud detection and prevention solutions in the banking, finance services, and insurance sector is significantly contributing to the industry. In March 2021, SAP SE (NYSE: SAP), one of the key players in the market, reported that Trustpair’s transfer fraud detection solution is now available on SAP Store. SAP brought together SAP App Center and SAP Store into one single marketplace at store.sap.com. Trustpair is a solution for preventing and detecting wire transfer fraud, providing fraud protection, global coverage, business tool integration, and dedicated support and assistance system to the user. It also strengthens procure-to-pay processes within the client’s company to manage fraud risk.

Market Analysis by Solution, Scale of End User, Type of Fraud, End Use Industry, and Region:

  • Based on solution, the industry can be divided into fraud analytics, authentication, reporting, visualisation, and governance, risk and compliance (GRC) solutions.
  • The market on the basis of the scale of end user can be divided into small scale, medium scale, and large scale.
  • On the basis of type of fraud, the industry is categorised into internal and external.
  • The market on the basis of end use industry can be divided into BFSI, retail, IT and telecom, healthcare, energy and power, and manufacturing, among others.
  • Region-wise, the global market for fraud detection and prevention can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market for fraud detection and prevention is being driven by the increasing number of digital transactions globally.
  • The industry is receiving a further impetus with the growing number of internet users.
  • An increase in cases of cybercrimes and bank frauds is expected to further propel the market growth. 
  • The growing investments by major organisations to improve IT security infrastructure have significantly contributed to the market expansion.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for fraud detection and prevention for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the solutions, scale of end users, types of fraud, end use industries, and regions of fraud detection and prevention.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fraud detection and prevention market are SAP SE, IBM Corporation, SAS Institute Inc., Oracle Corporation, and ACI Worldwide Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER