DUBLIN, July 7, 2021 /PRNewswire/ — The “Fraud Detection and Prevention – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Fraud Detection and Prevention Market to Reach US$51.3 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Fraud Detection and Prevention estimated at US$19.5 Billion in the year 2020, is projected to reach a revised size of US$51.3 Billion by 2027, growing at a CAGR of 14.8% over the period 2020-2027.
Solutions, one of the segments analyzed in the report, is projected to grow at a 13.8% CAGR to reach US$30.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 16.4% CAGR for the next 7-year period. This segment currently accounts for a 36.5% share of the global Fraud Detection and Prevention market.
The U.S. Accounts for Over 34.2% of Global Market Size in 2020, While China is Forecast to Grow at a 18.7% CAGR for the Period of 2020-2027
The Fraud Detection and Prevention market in the U.S. is estimated at US$6.7 Billion in the year 2020. The country currently accounts for a 34.22% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$9.5 Billion in the year 2027 trailing a CAGR of 18.7% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.5% and 13.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.5% CAGR while Rest of European market (as defined in the study) will reach US$9.5 Billion by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 on Cybersecurity
- Steep Rise in Fraud Attacks amid COVID-19 Predicament Marks Opportunity for Fraud Detection & Prevention Market
- Fraud Detection and Prevention: An Overview
- Fraud Analytics & Professional Services Command Fraud Detection & Prevention Market
- Geographic Market Analysis
- Sophisticated Frauds & Short Supply of Professionals to Inhibit Growth
- Recent Market Activity
- Select New Products
2. FOCUS ON SELECT PLAYERS(Total 80 Featured)
- ACI Worldwide, Inc.
- BAE Systems PLC
- Cyxtera Technologies, Inc.
- DXC Technology Company
- Experian Information Solutions, Inc.
- Fair Isaac Corporation
- Featurespace Ltd.
- Fiserv, Inc.
- FRISS Fraudebestrijding B.V.
- IBM Corporation
- LexisNexis Group Inc.
- NICE Systems Ltd.
- Oracle Corporation
- SAP SE
- SAS Institute, Inc.
- Sekur Me
- ThreatMetrix, Inc.
- Webroot, Inc.
3. MARKET TRENDS & DRIVERS
- Digital Transformation of Businesses and Need to Ensure Security of Sensitive Data to Spur Market Demand
- Rise in Moneylaundering Cases Drives the Uptake of Fraud Detection and Prevention Solutions
- Rising Incidences of ATOs & Phishing Emails Augment Fraud Detection Demand
- Booming e-Commerce Industry Aggravates the Risk of Fraud
- Types of E-Commerce Frauds
- COVID-19 Pandemic Elevates Opportunities
- Rise of Digital Banking Brings Out BFSI as the Largest Spender on Fraud Prevention
- Risk Analysis in Real-Time to Thwart Frauds in Banking Sector
- Increase in the Use of Artificial Intelligence and Machine Learning in Banking Sector to Boost Fraud Detection and Prevention Market
- Anomaly Detection: An Overview
- Growing Global IoT Ecosystems Pushes Up the Risk of Fraud
- IoT Enabled Fraud, a Major Concern for Merchants in the Current Scenario
- Blockchain for Fraud Prevention: A New & Potent Weapon in the Making
- Blockchain’s Powerful Fraud Prevention Features
- AI Set to Raise the Bar in Fraud Detection
- Businesses Increasingly Adopt Customer-centric Fraud Prevention Techniques
- Increasing Volume of Non-cash Payment/Transaction Volumes Drive Uptake of Fraud Detection and Prevention Market
- Is COVID-19 Scenario Making Payment Space to Bid Adieu to Cash Payments?
- More Payment Options
- Rise in Application of Hybrid Analytical Approaches
- Healthcare Networks Confront Growing Threat of Cyberattacks
- Fraud Protection Software for eCommerce Businesses and the Travel Industry
- Role of Machine Learning in Fraud Detection Gaining Prominence
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 80
For more information about this report visit https://www.researchandmarkets.com/r/qf2i8q
Research and Markets
Laura Wood, Senior Manager
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