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Global Fraud Detection and Prevention Market: By Solution: Fraud Analytics, Authentication, Reporting, Visualisation, Others; By Scale of End User; By Type of Fraud; By End Use Industry; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Fraud Detection and Prevention Market Outlook

The global fraud detection and prevention market stood at a value of around USD 29658.96 million in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of  16.80% to reach USD 75303.12 million by 2027.

 

BFSI Segment to Exhibit the Fastest Growth Rate over the Forecast Period

Based on end use industry, 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. The rising popularity of digital platforms to make investments, such as stockbroking, mutual funds, and insurance, among customers has compelled enterprises to adopt fraud detection and prevention systems to prevent fraudulent transactions.

 

Global Fraud Detection and Prevention Market

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Moreover, 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 BFSI sector is targeted by fraud threats, such as SMS phishing, identity thefts, spyware and adware, cyberstalking, and website cloning, and in order to avert these attacks, the BFSI sector is adopting fraud detection and prevention systems. These factors are expected to enhance the growth of the segment in the forecast period.

 

North America Secured the Largest Market Share and is Anticipated to Retain its Dominance in the Fraud Detection Industry

Geographically, the global market for fraud detection and prevention is dominated by North America, with the United States being the major contributor to the market. The growing investments by major organisations to improve IT security infrastructure and protect data breaches are aiding the industry growth. Additionally, 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. Thus, the market is experiencing a steady growth in the region and is expected to thrive in the future.

 

Fraud Detection and Prevention: Market Segmentation

Fraud detection and prevention refers to the implementation of strategies to detect and prevent fraudulent transactions from causing financial damage to customers and financial institutions. Superior fraud detection and prevention solutions can help deliver improved benefits across the business by cutting down costs and risks, enabling innovation, and improving customer satisfaction.

By solution, the industry can be segmented into:

  • Fraud Analytics
  • Authentication
  • Reporting
  • Visualisation
  • Governance, Risk, and Compliance (GRC) Solutions

Based on the scale of end user, the industry can be divided into:

  • Small Scale
  • Medium Scale
  • Large Scale

On the basis of type of fraud, the industry can be segmented into:

  • Internal
  • External

On the basis of end use industry, the industry can be divided into:

  • BFSI
  • Retail
  • IT and Telecom
  • Healthcare
  • Energy and Power
  • Manufacturing
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Increasing Online Applications and Mobile Banking Services to Bolster the Growth of the Global Fraud Detection and Prevention Industry

An increase in the number of internet users, a rising number of online payment start-ups, and an increasing adoption of digital transactions are anticipated to propel the growth of the market. In addition to this, a rise in organisation data and its complexity, the increasing incidences of cybercrime due to the growing online transactions and rapid digitisation, and technological advancements in various end use sectors are expected to further propel the market forward. 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 market expansion in the forecast period.

 

Key Industry Players in the Global Fraud Detection and Prevention Market

The report gives a detailed analysis of the following key players in the global fraud detection and prevention market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • SAP SE 
  • IBM Corporation 
  • SAS Institute Inc.
  • Oracle Corporation
  • ACI Worldwide Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
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 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, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
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., 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.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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 (2018-2022) 
    8.3    Global Fraud Detection and Prevention Market Forecast (2023-2028)
    8.4    Global Fraud Detection and Prevention Market by Solution
        8.4.1    Fraud Analytics
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Authentication
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Reporting
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Visualisation
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Governance, Risk, and Compliance (GRC) Solutions
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2022)
            8.4.5.3    Forecast Trend (2023-2028)
    8.5    Global Fraud Detection and Prevention Market by Scale of End User
        8.5.1    Small Scale
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Medium Scale
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Large Scale
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Fraud Detection and Prevention Market by Type of Fraud
        8.6.1    Internal
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    External
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Fraud Detection and Prevention Market by End Use Industry
        8.7.1    BFSI
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Retail
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    IT and Telecom
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Healthcare
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Energy and Power
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022)
            8.7.5.3    Forecast Trend (2023-2028)
        8.7.6    Manufacturing 
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2018-2022)
            8.7.6.3    Forecast Trend (2023-2028)
        8.7.7    Others
    8.8    Global Fraud Detection and Prevention Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Fraud Detection and Prevention Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Fraud Detection and Prevention Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Fraud Detection and Prevention  Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Fraud Detection and Prevention Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Fraud Detection and  Prevention Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    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    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 2028
2.    Global Fraud Detection and Prevention Historical Market: Breakup by Solution (USD Million), 2018-2022
3.    Global Fraud Detection and Prevention Market Forecast: Breakup by Solution (USD Million), 2023-2028
4.    Global Fraud Detection and Prevention Historical Market: Breakup by Scale of End User (USD Million), 2018-2022
5.    Global Fraud Detection and Prevention Market Forecast: Breakup by Scale of End User (USD Million), 2023-2028
6.    Global Fraud Detection and Prevention Historical Market: Breakup by Type of Fraud (USD Million), 2018-2022
7.    Global Fraud Detection and Prevention Market Forecast: Breakup by Type of Fraud (USD Million), 2023-2028
8.    Global Fraud Detection and Prevention Historical Market: Breakup by End Use Industry (USD Million), 2018-2022
9.    Global Fraud Detection and Prevention Market Forecast: Breakup by End Use Industry (USD Million), 2023-2028
10.    Global Fraud Detection and Prevention Historical Market: Breakup by Region (USD Million), 2018-2022
11.    Global Fraud Detection and Prevention Market Forecast: Breakup by Region (USD Million), 2023-2028
12.    North America Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2022
13.    North America Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Europe Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Europe Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Asia Pacific Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Asia Pacific Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Latin America Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Latin America Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Middle East and Africa Fraud Detection and Prevention Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Middle East and Africa Fraud Detection and Prevention Market Forecast: Breakup by Country (USD Million), 2023-2028            
22.    Global Fraud Detection and Prevention Market Structure

Key Questions Answered in the Report

In 2021, the global fraud detection and prevention market attained a value of nearly USD 29658.96 million.

The market is projected to grow at a CAGR of 16.80% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 75303.12 million by 2027.

The increasing number of digital transactions, growing number of internet users, and increasing concerns related to cybercrimes, and rapid digitisation globally, are the major drivers for the growth of the market.

The key market trends guiding the growth of the industry include the growing application of machine learning and artificial intelligence and the rapid innovations in the IT sector.

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

Fraud analytics, authentication, reporting, visualisation, and governance, risk and compliance (GRC) are the major fraud detection and prevention solutions.

Small scale, medium scale, and large scale are the major end users based on scale in the market.

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

BFSI, retail, IT and telecom, healthcare, energy and power, and manufacturing, among others are the significant end user industries considered within the market report.

The major players in the industry are SAP SE, IBM Corporation, SAS Institute Inc., Oracle Corporation, and ACI Worldwide Inc., among others.

Analyst Review

The global fraud detection and prevention market attained a value of USD 29658.96 million in 2021, driven by the increasing number of internet users. Aided by the growing application of machine learning and artificial intelligence, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 16.80%. The market is projected to reach USD 75303.12 million by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on solution, the fraud detection and prevention industry can be segmented into fraud analytics,     authentication,     reporting, visualisation, and governance, risk, and compliance (GRC) solutions. On the basis of the scale of end user, the global fraud detection and prevention industry can be categorised into small scale, medium scale, and large scale. On the basis of type of fraud, the industry can be divided into internal and external. Based on end use industry, the market is divided into BFSI, retail, IT and telecom, healthcare, energy and power, and manufacturing, among other. The major regional markets for fraud detection and prevention are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include SAP SE, IBM Corporation, SAS Institute Inc., Oracle Corporation, and ACI Worldwide Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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