The Global Fraud Detection and Prevention Market is expected to reach USD 71.01 billion by 2025 from USD 16.51 million in 2017 and is projected to grow at a CAGR of 20.01% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Fraud Detection and Prevention Market
Fraud detection and prevention are software’s used to protect and provide analytical solutions against fraud incidents and helps to identify upcoming occurrence in future. Collecting information from an extensive variety of sources to detect conceivable errors. It analyzes patterns, oddities, and patterns in the exchanges. It recognizes the anomalies and reports the same if there should arise an occurrence of fraud circumstances and exchanges. FDP anticipates unapproved get to averting extortion episodes. It additionally checks client character and keeps up information uprightness.
In 2017 IBM division launched a new account of fraud detection that helps to detect fraud at its initial stage only. As banks move to more anchor installment cards and new installment channels, digital crooks have been progressing to online channels, to endeavor to utilize similar information for opening financial balances and applying for credit, advances, protection, and different kinds of records.
Major Market Drivers: Growth in the emergence of e-banking and e-commerce, Increasing adoption of IP-based services, Rising online transactions through mobile and web applications, Lack of integration capabilities.
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Major Key players profiled in this report are: SAP SE, SAS Institute Inc., Cisco Systems, Singtel, Mitel Networks Corporation, Microsoft Corporation, IBM Corporation, ACI Worldwide Inc., Fiserv Inc., Experian PLC, Dell EMC, DXC Technology Company, Equifax Inc., Vox Telecom, Easy Solutions Inc., BAE Systems PLC, Fair Isaac Corporation, Oracle Corporation, NTT Communications , Bosch Software Innovations GmbH, LexisNexis Group among other.
Market Segmentation: Fraud Detection and Prevention Market
- The market is based on solution type, service, application area, deployment mode, organization size, vertical and geographical segments.
- Based on solution type, the market is segmented into fraud analytics, authentication, governance, risk, compliance solutions and other.
- Based on service, the market is segmented into professional services, managed services
- Based on application area, the market is segmented into insurance claim, money laundering, electronic payment, mobile payment, others.
- Based on deployment mode, the market is segmented into cloud, on-premises.
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Competitive Analysis: Global Fraud Detection and Prevention Market
The global circuit breaker market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of fraud detection and prevention market for global, Europe, North America, Asia Pacific and South America.
In today’s economical market place, businesses take a lot of efforts to seek better solutions in terms of product trends, future products, marketing strategy, future events, actions or behaviours. The Global Fraud Detection and Prevention report has been worked out with the accurate use of tools like SWOT analysis and Porter’s Five Forces analysis methods. A talented team works strictly with their potential capabilities to produce this finest Global Fraud Detection and Prevention market research report. The Global Fraud Detection and Prevention report considers new product development from beginning to launch by performing detailed market study. Getting thoughtful about competitive landscape is another significant aspect of this market report.