Fraud Detection & Prevention Market Growth Set to Surge Significantly During 2016–2023 - IBM, Oracle, SAS Institute, Fair Isaac

New York, NY -- (SBWire) -- 03/30/2020 --The global fraud detection & prevention market size was valued at $13,644 million in 2016, and is expected to reach $40,610 million by 2023, growing at a CAGR of 17% during the forecast period. Fraud detection & prevention solutions are solutions offered by IT vendors against fraud incidents and help to detect or prevent such future occurrences.

The current business scenario has witnessed an upsurge in the adoption of fraud detection & prevention solutions in developed as well as the developing regions. The companies adopt efficient techniques to provide customers with innovative and modernized security offerings. Introduction of big data analytics and cloud computing services, and increase in mobile payment drive the growth of the fraud detection & prevention market. Although continuous technological advancements prevailing in the market are promoting market expansion, factors such as high cost of these solutions may restrict the fraud detection & prevention market growth.

Major Key Players of the Fraud Detection & Prevention Market are:
IBM, Oracle, SAS Institute Inc., Fair Isaac Corporation., SAP SE, BAE Systems, ACI Worldwide, NCR Limited, Lavastorm Analytics, and ThreatMetrix.

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The global fraud detection & prevention market is segmented based on solution type, services, deployment type, end-user, industry vertical, and geography. On the basis of solution type, it is bifurcated into fraud analytics and authentication. The authentication segment accounted for the largest market share of around 57.9% in 2016, owing to high demand for effective fraud detection solutions and real-time operations due to increase in online payment transactions. The services segment is classified based on professional services and managed services. Managed services is expected to exhibit the highest growth rate during the forecast period, as they integrate with the company's intellectual property to provide end-to-end solutions tailored to meet the organization's exact requirements. Based on deployment model, the market is segmented into cloud and on-premises models.

By end user, it is divided into small & medium enterprises (SMEs) and large enterprises (LE). Industries analyzed in this report include banking, financial service & insurance (BFSI); retail; healthcare; real estate; manufacturing; and others. The BFSI industry generated the highest revenue in 2016, accounting for around $3,498 million, and is expected to maintain its lead in the future. This growth is attributed to increase in number & frequency of sophisticated attacks in the banking sector, which has led to the development of analytical solutions to predict and prevent fraud. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific exhibits the highest rate of adoption of fraud detection solutions, while LAMEA is expected to grow at a significant growth rate, predicting a lucrative market growth for fraud detection & prevention solutions, especially in Brazil, South Africa, and Argentina.

Major Types of Fraud Detection & Prevention Market covered are:
Fraud Analytics
Predictive Analytics
Customer Analytics
Social Media Analytics
Bigdata Analytics
Behavioral Analytics
Authentication
Single-Factor Authentication
Multifactor Authentication

Major Applications of Fraud Detection & Prevention Market covered are:
BFSI
Retail
Healthcare
Real Estate
Manufacturing
Others

Research objectives:-

– To study and analyze the global Fraud Detection & Prevention consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Fraud Detection & Prevention market by identifying its various sub-segments.
– Focuses on the key global Fraud Detection & Prevention manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Fraud Detection & Prevention with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

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Table of Content

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Fraud Detection & Prevention Market Size
2.2 Fraud Detection & Prevention Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Fraud Detection & Prevention Market Size by Manufacturers
3.2 Fraud Detection & Prevention Key Players Head office and Area Served
3.3 Key Players Fraud Detection & Prevention Product/Solution/Service
3.4 Date of entering into Fraud Detection & Prevention Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Fraud Detection & Prevention Sales by Product
4.2 Global Fraud Detection & Prevention Revenue by Product
4.3 Fraud Detection & Prevention Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Fraud Detection & Prevention Breakdown Data by End User

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In the end, Fraud Detection & Prevention industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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