Fraud detection & prevention systems are software applications used to provide analytical solutions for against fraud incidents and help to identify or prevent future occurrences. North America was the dominant region for fraud detection solutions in 2016, owing to industrial expansion and rise in fraudulent activities. Currently, enterprises are more susceptible to incidents of frauds that may result in financial losses due to the generation of massive amounts of enterprise data and increase in technological advancements.
The "Global Fraud Detection and Prevention Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the fraud detection and prevention market with detailed market segmentation by solution, deployment, service, end user, and geography. The report provides key statistics on the market status of the leading fraud detection and prevention market players and offers key trends and opportunities in the market.
- Based on solution, the global fraud detection and prevention market is segmented into fraud analytics, authentication
- On the basis of deployment, the market is segmented into cloud, on-premises
- Based on service, the market is bifurcated into professional, managed
- Based on end user, the market is bifurcated into BFSI, healthcare, manufacturing, retail, telecommunication
- Adoption of digitalization and IoT increased the adoption rate of fraud detection and prevention system.
- Increasing revenue loss due to frauds.
- Rise in complexity of frauds
- High investment in developing in-house fraud detection solutions
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The fraud detection and prevention market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the fraud detection and prevention market in these regions.
IMPACT OF COVID-19 ON FRAUD DETECTION AND PREVENTION MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the fraud detection and prevention market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from fraud detection and prevention market are anticipated to lucrative growth opportunities in the future with the rising demand for fraud detection and prevention in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fraud detection and prevention market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ACI Worldwide, Inc
- BAE Systems Plc
- Fair Isaac Corporation
- Fiserv, Inc.
- IBM Corporation
- NCR Limited
- Oracle Corporation
- RELX plc
- SAP SE
- SAS Institute Inc.
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.