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Fraud Detection and Prevention Market

Global Fraud Detection and Prevention Market Size, Share: By Solution: Fraud Analytics, Authentication, Reporting, Visualisation, Governance, Risk, and Compliance Solutions; By Scale of End User: Small Scale, Medium Scale, Large Scale; By Type of Fraud; By End Use Industry; Regional Analysis; Competitive Landscape; 2024-2032

Global Fraud Detection and Prevention Market Outlook

The global fraud detection and prevention market size was valued at USD 42.11 billion in 2023. The market is further projected to grow at a CAGR of 23.3% between 2024 and 2032, reaching a value of USD 277.38 billion by 2032.

 

Key Takeaways

  • With revenue rising steadily from 14.37 billion USD in 2016 to 63.50 billion USD in 2023, the fraud detection and prevention (FDP) market has experienced significant growth in recent years.
  • There were 440,666 reported cases of credit card fraud in 2022, up 13% from 2021.
  • Amazon and Google are the most impersonated brands in phishing attempts (13%), followed by Facebook and WhatsApp (9%), Netflix (2%), and Apple (2%).
  • To combat fraud, two-factor phone authentication is used by 44% of online retailers.

 

Fraud detection and prevention is the process of identifying and preventing fraudulent activities that can cause financial loss or reputational damage to individuals, organisations, or systems. Fraud detection and prevention solutions use various techniques such as data mining, machine learning, anomaly detection, and biometric authentication to detect and prevent fraud in various domains such as banking, insurance, e-commerce, healthcare, and government.

 

The growing prevalence of digital platforms and services, the frequency of identity theft and cyberattacks, the strict regulatory compliance requirements, and the growing awareness of the advantages of fraud detection and prevention among consumers and businesses are some of the factors propelling the of the fraud detection and prevention market growth.

 

Global Fraud Detection and Prevention Market

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Key Trends and Developments

Advancements in fraud detection technologies, increase in digital payments, and high integration of biometric authentication are boosting the market growth

 

Date Company Event
February 2023 Oracle Corporation Leading healthcare organisations, such as Baptist Health Care, Springfield Clinic, and Stamford Health are implementing Oracle Fusion Cloud Applications Suite to increase productivity, reduce costs, and enhance experience.
February 2024 SAP SE SAP announces continued focus on strengthening AI as a dedicated growth area to drive innovation and help businesses transform their operations.
November 2023 SAS Institute Inc. The company was recognised as a leader in FRAML (fraud and anti-money laundering) by Chartis Research, complementing its accolades in various technology categories.
October 2023 IBM Corporation IBM expanded its watsonx.ai, watsonx.data, and watsonx.governance offerings by acquiring Manta Software Inc., a top ranked data lineage platform.

 

 

Trends Impact
Increase in online transactions and digital payments Rising demand for fraud detection and prevention solutions to protect customers and businesses from identity theft, phishing, account takeover, and other cyberattacks
Adoption of advanced technologies such as AI, ML, big data, and blockchain Enhancement of fraud detection and prevention capabilities by leveraging data analytics, pattern recognition, anomaly detection, and smart contracts
Stringent regulatory compliance and standards such as GDPR, KYC, and AML Results in greater need for fraud detection and prevention solutions to comply with data privacy, security, and anti-money laundering laws and regulations, such as General Data Protection Regulation (GDPR), Know Your Customer (KYC), and Anti-Money Laundering (AML)
Growth of cloud and mobile-based fraud detection and prevention solutions Increased accessibility, scalability, and cost-effectiveness of fraud detection and prevention solutions for small and medium-sized enterprises (SMEs) and individual users, supporting the fraud detection and prevention market development
Integration of biometric authentication and behavioural analytics Improvement of user verification and fraud prevention by using biometric features such as fingerprint, face, voice, and iris, and behavioural patterns such as keystroke, mouse movement, and device location

 

Global Fraud Detection and Prevention Market Trends

With technology improvements making it easier to access data and make payments, concerns about digital frauds are rising, which is driving the demand for the fraud detection and prevention. Globally, the complexity of financial crimes, cyberattacks, and digital frauds is posing a threat to the expansion of many enterprises. The number of incidents involving identity theft, data breaches, and payment fraud are rising along with the use of e-banking, digital payment apps, and cross-border transactions. Such factors are paving the way for fraud detection and prevention market expansion.

 

Moreover, a lot of traffic comes at once from digital channels like social media and e-commerce applications. This makes it challenging to quantify and recognise patterns of unusual traffic, which, in turn, makes fraud detection and prevention solutions necessary. Another fraud prevention trend is the advancements in technologies for precisely identifying and tracking real-time aberrant activity across applications and the internet. This is supporting the fraud detection and prevention market development during the forecast period.

 

In addition, increase in the number of internet users, growing online payment start-ups, and rising adoption of digital transactions are anticipated to propel the market. Moreover, the rapid growth in demand for machine learning and artificial intelligence with the help of big data analytics, and the increasing demand for cloud services are expected to favour the fraud detection and prevention market growth in the forecast period.

 

Overall, the increasing adoption of fraud detection and prevention solutions across various industries, such as banking, insurance, retail, e-commerce, healthcare, and government, to protect against cyberattacks, identity theft, money laundering, and other fraudulent activities shows that the fraud detection and prevention market outlook will be positive in the future.

 

Global Fraud Detection and Prevention Market

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Market Segmentation

Global Fraud Detection and Prevention Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Solution Fraud Analytics, Authentication, Reporting, Visualisation, Governance, Risk, and Compliance (GRC) Solutions
End User Scale Small Scale, Medium Scale, Large Scale
Type of Fraud Internal, External
End Use Industry BFSI, Retail, IT and Telecom, Healthcare, Energy and Power, Manufacturing, Others
Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa

 

BFSI segment to exhibit the fastest growth rate in fraud detection and prevention market due to the rapid digitisation of banking services

As per the fraud detection and prevention market analysis, the BFSI segment is expected to witness the fastest growth rate over the forecast period. The rapid digitisation has made the banking and financial services industry an easy target for cybercriminals for frauds like SMS phishing, identity thefts, spyware and adware, cyberstalking, and website cloning. The growing trend of consumers using digital platforms for investing in stockbroking, mutual funds, and insurance has forced companies to implement fraud detection and prevention systems to eliminate fraudulent activities. For example, artificial intelligence-based fraud detection will reduce the workload of bankers and owners as it can automatically verify the authenticity of important documents by using pattern matching algorithms.

 

The retail and healthcare industry, on the other hand, are expected to witness a substantial fraud detection and prevention market share. The retail industry faces various challenges in managing fraud risks, such as online payment fraud, return fraud, loyalty fraud, and coupon fraud. Fraud detection and prevention solutions help retailers to verify the identity and authenticity of customers, transactions, and products, and to reduce losses and increase customer satisfaction.

 

Meanwhile, the healthcare industry is exposed to various forms of fraud, such as insurance fraud, prescription fraud, medical identity theft, and billing fraud. Fraud detection and prevention solutions help healthcare providers, payers, and intermediaries to verify the identity and eligibility of patients and providers, to validate claims and reimbursements, and to prevent abusive practices.

 

Furthermore, IT and telecom industries are also vulnerable to various types of frauds, such as subscription fraud, roaming fraud, SIM cloning, revenue leakage, and phishing. Solutions in fraud prevention market helps IT and telecom service providers to monitor and analyse network traffic, customer behaviour, and billing data, and to detect and prevent fraudulent activities and anomalies.

 

Internal and external frauds hold a significant fraud detection and prevention market share due to rising incidents of frauds within organisations

Internal fraud covers frauds carried out by employees, managers, or executives within an organisation. Internal fraud can include stealing, misappropriating, bribing, conspiring, or falsifying financial data. Whereas external fraud covers frauds carried out by customers, vendors, hackers, or other external parties that target an organisation. External fraud can include impersonating, deceiving, infecting, credit card fraud, money laundering, or cyberattacks.

 

Due to the rising cases of internal and external frauds, there has been an increased demand for advanced and comprehensive solutions that can address these frauds. Another impact of internal and external frauds on the fraud detection and prevention market is the increased awareness and regulation of fraud prevention among organisations. For example, many governments have enforced stricter regulations and guidelines for fraud prevention, such as the Sarbanes-Oxley Act, the Anti-Money Laundering Directive, or the General Data Protection Regulation (GDPR). These regulations create more opportunities for the fraud detection and prevention market, as companies seek solutions that can help them comply with the regulatory requirements and best practices.

 

Competitive Landscape

Market players are offering distinct fraud detection and prevention solutions, such as software, services, analytics, and biometrics, catering to different industry verticals and use cases.

 

Company Name Year Founded Headquarters Products/Services
SAP SE 1972 Walldorf, Germany Enterprise software, cloud computing, business intelligence, analytics, and database management systems
IBM Corporation 1911 New York, United States Computing hardware, software, services, artificial intelligence, cloud computing, and cognitive computing
SAS Institute Inc. 1976 North Carolina, United States Statistical software, analytics, business intelligence, data management, and artificial intelligence
Oracle Corporation 1977 California, United States Database software and technology, cloud engineered systems, enterprise software, and middleware

 

Other key players in the fraud detection and prevention market include ACI Worldwide Inc., BAE Systems plc, Fair Isaac Corporation (“FICO”), NICE Ltd., LexisNexis Risk Solutions Group, Transunion LLC, Fiserv, Inc., and Fidelity National Information Services, Inc. (FIS), among others.

 

Global Fraud Detection and Prevention Market

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Global Fraud Detection and Prevention Market Analysis by Region

North America holds the largest market share due to the presence of major players, such as IBM, SAS, and Oracle Corporation

According to fraud detection and prevention market report, North American region leads with the highest market share. A rise in the number of cases comprising identity thefts, payment frauds, and money laundering across Canada and the U.S. is contributing to the growth of the market in this region. Additionally, the growing investments by major organisations to improve IT security infrastructure and protect data breaches are increasing the fraud detection and prevention market size in this region.

 

Furthermore, the North American region has a high penetration of advanced technologies, such as artificial intelligence, machine learning, big data analytics, and cloud computing, which enable the development and adoption of sophisticated fraud detection and prevention solutions. Moreover, the region has a strict regulatory framework and compliance standards, such as the Payment Card Industry Data Security Standard (PCI DSS), the Sarbanes-Oxley Act (SOX), and the Health Insurance Portability and Accountability Act (HIPAA), which mandate the implementation of fraud detection and prevention measures in various industries.

 

Europe has the second-largest fraud detection and prevention market share due to the rising frequency of cyberattacks, identity theft, money laundering, and payment fraud, which has sped up the transition to online transactions and remote working. As a result, the region has a high demand for fraud detection and prevention solutions. Furthermore, the region boasts a robust regulatory landscape and consumer protection legislation, including the General Data Protection Regulation (GDPR), the Anti-Money Laundering Directive (AMLD), and the Payment Services Directive (PSD2). These laws mandate that various entities, including banks, payment service providers, e-commerce platforms, and government agencies, implement fraud detection and prevention solutions.

 

Asia Pacific fraud detection and prevention market, on the other hand, is rapidly growing as the region has a huge potential for fraud detection and prevention solutions due to the rapid growth of digitalisation, e-commerce, fintech, and mobile payments, which create a large volume of data and transactions that are vulnerable to fraud. Furthermore, the region has a rising awareness and demand for fraud detection and prevention solutions among various sectors, such as banking, insurance, telecom, healthcare, retail, and government, which are investing in enhancing their security and fraud management capabilities.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Solution
  • Scale of End User
  • Type of Fraud
  • End Use Industry
  • Region
Breakup by Solution
  • Fraud Analytics
  • Authentication
  • Reporting
  • Visualisation
  • Governance, Risk, and Compliance (GRC) Solutions
Breakup by Scale of End User
  • Small Scale
  • Medium Scale
  • Large Scale
Breakup by Type of Fraud
  • Internal
  • External
Breakup by End Use Industry
  • BFSI
  • Retail
  • IT and Telecom
  • Healthcare
  • Energy and Power
  • Manufacturing
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter’s Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • SAP SE 
  • IBM Corporation 
  • SAS Institute Inc.
  • Oracle Corporation
  • ACI Worldwide Inc.
  • BAE Systems plc
  • Fair Isaac Corporation (“FICO”)
  • NICE Ltd.
  • LexisNexis Risk Solutions Group
  • Transunion LLC
  • Fiserv, Inc.
  • Fidelity National Information Services, Inc. (FIS)
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Fraud Detection and Prevention Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Fraud Detection and Prevention Historical Market (2018-2023) 
    8.3    Global Fraud Detection and Prevention Market Forecast (2024-2032)
    8.4    Global Fraud Detection and Prevention Market by Solution
        8.4.1    Fraud Analytics
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Authentication
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Reporting
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Visualisation
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Governance, Risk, and Compliance (GRC) Solutions
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
    8.5    Global Fraud Detection and Prevention Market by Scale of End User
        8.5.1    Small Scale
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Medium Scale
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Large Scale
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Fraud Detection and Prevention Market by Type of Fraud
        8.6.1    Internal
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    External
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Fraud Detection and Prevention Market by End Use Industry
        8.7.1    BFSI
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Retail
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    IT and Telecom
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Healthcare
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Energy and Power
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Manufacturing 
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
        8.7.7    Others
    8.8    Global Fraud Detection and Prevention Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Fraud Detection and Prevention Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Fraud Detection and Prevention Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Fraud Detection and Prevention  Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Fraud Detection and Prevention Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Fraud Detection and  Prevention Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    SAP SE
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    IBM Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3     SAS Institute Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Oracle Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    ACI Worldwide Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    BAE Systems plc
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Fair Isaac Corporation (“FICO”),
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8     NICE Ltd.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    LexisNexis Risk Solutions Group
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Transunion LLC
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Fiserv, Inc.
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Fidelity National Information Services, Inc. (FIS)
            15.2.12.1    Company Overview
            15.2.12.2    Product Portfolio
            15.2.12.3    Demographic Reach and Achievements
            15.2.12.4    Certifications
        15.2.12    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Fraud Detection and Prevention Market: Key Industry Highlights, 2018 and 2032
2.    Global Fraud Detection and Prevention Historical Market: Breakup by Solution (USD Million), 2018-2023
3.    Global Fraud Detection and Prevention Market Forecast: Breakup by Solution (USD Million), 2024-2032
4.    Global Fraud Detection and Prevention Historical Market: Breakup by Scale of End User (USD Million), 2018-2023
5.    Global Fraud Detection and Prevention Market Forecast: Breakup by Scale of End User (USD Million), 2024-2032
6.    Global Fraud Detection and Prevention Historical Market: Breakup by Type of Fraud (USD Million), 2018-2023
7.    Global Fraud Detection and Prevention Market Forecast: Breakup by Type of Fraud (USD Million), 2024-2032
8.    Global Fraud Detection and Prevention Historical Market: Breakup by End Use Industry (USD Million), 2018-2023
9.    Global Fraud Detection and Prevention Market Forecast: Breakup by End Use Industry (USD Million), 2024-2032
10.    Global Fraud Detection and Prevention Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Fraud Detection and Prevention Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2024-2032            
22.    Global Fraud Detection and Prevention Market Structure

Key Questions Answered in the Report

In 2023, the fraud detection and prevention market reached an approximate value of USD 42.11 billion.

The market is expected to grow at a CAGR of 23.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 277.38 billion by 2032.

The growing number of internet users, rising concerns related to cybercrimes, and rapid digitisation are the major drivers for the growth of the fraud detection and prevention market.

Key trends aiding market expansion include the advancements in fraud detection technologies, increase in digital payments, and high integration of biometric authentication across various industries.

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America are the major regions in the market, with North America accounting for the largest market share.

Internal and external are the different types of fraud considered within the market report.

The various solutions in the market are fraud analytics, authentication, report, visualisation, and governance, risk, and compliance (GRC) solutions.

The different end use industries in the market are BFSI, retail, IT and telecom, healthcare, energy and power, and manufacturing among others.

Key players in the market are SAP SE, IBM Corporation, SAS Institute Inc., Oracle Corporation, ACI Worldwide Inc., BAE Systems plc, Fair Isaac Corporation (“FICO”), NICE Ltd., LexisNexis Risk Solutions Group, Transunion LLC, Fiserv, Inc., and Fidelity National Information Services, Inc. (FIS), among others.

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