New York, NY -- (SBWIRE) -- 05/12/2020 -- The global fraud detection and prevention market is driven by growing applications across finance, insurance, and public/government sectors coupled with improved risk protection and reduced overall costs. Surge in the number of private and public companies is further contributing to growth of the fraud detection and prevention market.

Market Industry Reports (MIR) has published a new report titled "Fraud Detection and Prevention Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030." According to the report, the global fraud detection and prevention market is estimated to be over US$24.5 billion in 2019. The market is anticipated to grow at a CAGR of 26% from 2020 to 2030. 

Top Players:

Some of the prominent players in the global poultry vaccines market are Ceva, Zoetis, Eli Lilly and Company, Indovax, Hester Biosciences Limited, Elanco, Intervet Inc, AniCon Labor GmbH, Boehringer Ingelheim, and Venkys, among others.

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Growth Factor:

Technological advancements have played a vital role in growth of the fraud detection and prevention market. Companies could further benefit from machine-learning-based fraud detection solutions. Machine learning helps data scientists to efficiently determine which transactions are the most likely to be fraudulent while significantly reducing false positives. Such techniques are extremely effective in fraud prevention and detection, as they allow the automated discovery of patterns across large volumes of streaming transactions.

The shift of pace towards electronic transactions has increased significantly. The increasing utilization of electronic payments can create a significant impact on future economic growth in various countries. Some of the common frauds, such as online phishing or spoofing, identity theft, and merchant & triangulation frauds, may occur during online transactions. The only way to prevent organizations from online fraud is to adopt fraud detection and prevention solutions that meet security needs. This is expected to be a key growth driver for the fraud detection and prevention market.

North America dominated the global fraud detection and prevention market. The presence of several key players coupled with the early adoption of various technologies, including AI, the IoT, and machine learning for fraud detection has contributed to the enormous market growth in this region. For instance, in November 2019, FIS, a global leader on financial services technology integrated with IBM Fraud Detection Solution to help clients to tackle person-to-person payment frauds in the U.S.

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Table of Contents

INTRODUCTION
Market Definition
Market Classification
Geographic Scope
Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecast Years – 2020 to 2030
Currency Used

RESEARCH METHODOLOGY
Research Framework
Data Collection Technique
Data Sources
Secondary Sources
Primary Sources
Market Estimation Methodology
Bottom Up Approach
Top Down Approach
Data Validation and Triangulation
Market Forecast Model
Limitations/Assumptions of the Study

ABSTRACT OF THE STUDY

MARKET DYNAMICS ASSESSMENT
Overview
Drivers
Barriers/Challenges
Opportunities

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