Fraud Detection and Prevention Market worth $53.4 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 16, 2021 /PRNewswire/ -- According to a research report "Fraud Detection and Prevention Market by Solution (Fraud Analytics, Authentication, and GRC), Service (Managed and Professional), Vertical (BFSI, Retail and eCommerce, and Travel and Transportation), Deployment Mode and Region - Global Forecast to 2026", published by MarketsandMarkets™, the FDP Market is expected to grow from USD 22.8 billion in 2021 to USD 53.4 billion by 2026 at a CAGR of 18.5% during the forecast period.

Technological advancements, penetration of digital technologies, and Bring Your Own Device (BYOD) trend in organizations have greatly influenced work practices and led to an unprecedented rise in data volumes. These factors have led to the adoption of automatic software-based applications for analyzing data in real time, which have replaced the traditional data mining applications and tools. This, in turn, increases the need to update legacy manual fraud detection methods. Hence, FDP vendors are producing new varieties of FDP solutions to detect and prevent all types of frauds committed by fraudsters.

Browse in-depth TOC on "Fraud Detection and Prevention Market"

493 – Tables

46 – Figures

381 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1312

By component, Solutions segment to hold the largest market size during the forecast period

On the basis of solutions, the FDP Market is segmented into fraud analytics, authentication, and GRC solutions. The demand for FDP solutions is increasing as they can help enterprises detect fraudulent activities and prevent their occurrence. The number of frauds is growing at a significant rate; however, it is the surge in revenue loss which is driving the demand for FDP solutions. These FDP solutions can work simultaneously to provide fraud-proof enterprise environments.

Money launderers or criminals may forge fake signatures and Identifications (IDs) to commit digital frauds using someone's identity. FDP solutions help in reducing digital frauds, illegal transactions, tax evasion attempts, and other payment corruptions by identifying and detecting fraudulent activities in the system and reporting them to assigned authorities on time.

In deployment mode, cloud deployment to grow at a higher CAGR during the forecast period

According to Flexera, a computer software company, enterprises are set to spend around 15-16% of their revenue into cloud hosting services by 2020. Another study by Cisco stated that "53% of organizations host at least 50% of their infrastructure in the cloud." The investment in cloud services and shifting of businesses from traditional to cloud are expected to accelerate the adoption of cloud-based solutions and services by enterprises. Owing to the increasing pace of digitalization, security breaches and fraud cases especially identity theft and online fraud has also increased. These increasing trend of eCommerce and online retail and digital payments has increased the adoption rate of online FDP solutions among end-user verticals to combat with fraud and compliance intruders.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1312

North America to hold the largest market size during the forecast period

North America is expected to be the largest contributor in terms of the market size in the FDP Market. It is one of the most affected regions in the world by money laundering and terrorist financing crime activities; as a result, it has the highest number of FDP providers. Banks, governments, and financial institutes in this region face ever-increasing challenges related to frauds compelling them to implement advanced technological approaches for managing fraud protection. Further, organic and inorganic growth strategies among major FDP vendors are expected to drive the FDP Market growth in North America. For example, in July 2020, NewDay, a financial services company partnered with RSA Security, financial crime prevention and predictive analytics company, to deliver advanced fraud protection for digital payments and address the requirements of the EMV 3-D Secure protocol.

Key Players:

Major vendors in the global FDP Market include BAE Systems (UK), Nice Actimize (US), FICO (US), LexisNexis (US), TransUnion (US), Kount (US), Software AG (Germany), RSA Security (US), Fiserv (US), FIS (US), ACI Worldwide (US), Experian (Ireland), SecuroNix (US), Accertify (US), Feedzai (US), CaseWare (Canada), FRISS (Netherland), MaxMind (US), Gurucul (US), DataVisor (US), PayPal (US), Visa (US), SAS institute (US), SAP SE (Germany), Microsoft Corporation (US), F5, Inc (US), Ingenico (France), AWS (US), PerimeterX (US), OneSpan (US), Signifyd (US), Cleafy (Italy) and Pondera Solutions (US). It also includes an in-depth competitive analysis of the key FDP Market players, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.

Browse Adjacent Markets: Information Security Market Research Reports & Consulting

Related Reports:

Anti-money Laundering Market by Component, Solution (KYC/CDD and Watchlist, Transaction Screening and Monitoring), Deployment Mode, End User (Banking and Financials, Gaming/Gambling Organizations), and Region - Global Forecast to 2025

eGRC Market with COVID-19 by Offering (Software and Services), Software (Usage and Type), Type (Policy Management, Compliance Management, Audit Management, and Risk Management), Business Function, End User, and Region - Global Forecast to 2026

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/fraud-detection-prevention-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/fraud-detection-prevention.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg