Global Fraud Detection and Prevention Market: Increase in Revenue Losses and Surge in Use of Advanced Technologies to Detect Frauds Boost Growth of Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.

The global FDP market size is expected to grow from an estimated value of USD 22.8 billion in 2021 to USD 53.4 billion by 2026, at a Compound Annual Growth Rate of 18.5% from 2021 to 2026.

The FDP market is driven by various factors, such as Increased in the adoption rate of digitalization and IoT and increase in the revenue loss due to fraud to boost the growth of FDP market across the globe during the forecast period. However, rise in complexity of frauds can hinder the growth.

Services segment to grow at a higher CAGR during the forecast period

Services for the FDP market includes professional services and managed services. The professional services include consulting services, training and education services, and support and maintenance services. FDP services give an upper hand to organizations' security. These services help organizations make robust security decisions for proactively addressing emerging fraudulent attacks. Companies, such as Nice Actimize, BAE Systems, ACI Worldwide, Ingenico and FRISS, provide services to their customers. These companies proactively help in the detection and recommendation of appropriate solutions to resolve fraud and FDP cases. FDP services help collects, filter, integrate, and link multiple security events' data to provide a holistic view of the security infrastructure in organizations.

On premise segment to account for a higher market share during the forecast period

The on-premises deployment mode enables organizations to control all their business systems and data located in their business premises; however, it also requires them to pay for the cost of the hardware, software, and other resources used for the on-premises maintenance. On-premises solutions provide organizations full control over platforms, applications, systems, and data, which can be handled and managed by their IT staff. In organizations where user credentials are critical for business operations, the adoption of on-premises deployment mode is higher as it can control the systems from the enterprise physical or owned location.

Asia Pacific to grow at the highest CAGR during the forecast period

The FDP market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America accounts for the highest share of the FDP market in 2020. The factors supplementing this growth are the Organic and inorganic growth strategies among major FDP vendors and well-maintained distribution system of FDP solutions by major FDP players in North America such as Nice Actimize, FICO, LexisNexis, TransUnion, Kount, RSA Security, Fiserv and FIS.

Key Topics Covered:

Executive Summary

• Fraud Detection and Prevention Market Size and Growth, 2015-2019 (USD Million, Y-O-Y %)
• Pre COVID-19: Fraud Detection and Market Size and Growth, 2020-2026 (USD Million, Y-O-Y %)
• Post-COVID-19: Market Size and Growth, 2020-2026 (USD Million, Y-O-Y %)
• Services Segment to Grow at Higher CAGR During Forecast Period
• North America to Account for Largest Market Share in 2020
• Fastest-Growing Segments of Market

Premium Insights

• Increase in Revenue Losses and Surge in Use of Advanced Technologies to Detect Frauds Boost Growth of Market
• Market, by Component, 2020 - Solutions Segment to Hold Larger Market Size During Forecast Period
• Market, by Solution, 2020 - Fraud Analytics Segment to Hold Largest Market Size During Forecast Period
• Market, by Deployment Mode, 2020 - Cloud Segment to Hold Larger Market Share During Forecast Period
• Market, by Organization Size, 2020 - Small and Medium-Sized Enterprises Segment to Grow at Higher CAGR During Forecast Period
• Fraud Detection and Prevention Market, Share of Top Three Verticals and Regions, 2020 - Retail and Ecommerce Vertical and Asia-Pacific to Hold Largest Market Shares in 2020
• Market Investment Scenario - Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

Market Dynamics

Drivers

• Adoption of Digitalization and IoT Increased the Adoption Rate of Fraud Detection and Prevention System
• Increasing Revenue Loss Due to Frauds
• COVID-19 Pandemic Impact

Restraints

• Rise in Complexity of Frauds
• High Investment in Developing In-House Fraud Detection Solutions
• COVID-19 Pandemic Impact

Opportunities

• Increase in Use of Ai and Ml in Banking Sector to Boost Fraud Detection and Prevention Market
• Increasing Demand for Fraud Detection and Prevention Solutionsin SMEs
• COVID-19 Pandemic Impact

Challenges

• Unavailability of Skilled Security Professionals
• COVID-19 Pandemic Impact

Use Cases

• Use Case: SAS
• Use Case: ACI Worldwide

Companies Mentioned

• Accertify
• ACI Worldwide
• BAE Systems
• Capegemini SE
• Cardinalcommerce
• Caseware
• Dataverify
• Datavisor
• Digital Resolve
• DXC Technologies
• Experian
• FCase
• Feedzai
• Fico
• FIS
• Fiserv
• Friss
• Gurucul
• Jumio
• Kount
• Lexisnexis Risk Solutions
• Maxmind
• NCR
• Nice Actimize
• RSA Security
• Securonix
• Software AG
• Splunk
• Transunion

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