Fraud Detection and Prevention Market Segmentation by Key Regions, Gross Margin, Profit, Analysis, Market Share (Forecast 2020–2025)

The high cost involved in the installation of fraud detection and prevention solutions is predicted to hamper the growth of the market. Also, the lack of skilled professionals across all the verticals is considered to be the biggest restraints for the fraud detection and prevention market over the forecast period.

Solution category is further divided into fraud analytics, authentication, and governance, risk, & compliance (GRC). Among these types, fraud analytics is predicted to have the higher growth rate over the forecast period in the fraud and prevention market. The fraud analytics involves a set of analytical techniques that helps in monitoring and analyzing data of the enterprises’ database and system to identify the fraud so that the prevention measures can be taken to secure the companies database and system.

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Based on the enterprise size, global fraud detection and prevention market is segmented into small and medium enterprises and large enterprises. Large enterprises are predicted to grow enormously over the forecast period.

The cloud deployment type is predicted to be the faster-growing type in the fraud detection and prevention market over the forecast period. Most of the organizations are adopting cloud services and solution which helps them to cut the cost related to storage, software and many more related to the data.

Based on application, the global fraud detection and prevention market is categorized into identity theft, payment frauds, money laundering, and others. Of all, the money laundering category is expected to register the fastest growth rate during the forecast period (2020–2025).

Rise in the cyber-attacks across all the verticals and increasing fraudulent attacks due to increase use of electronic transactions is predicted to be the major driving factor for the fraud detection and prevention market.

APAC is predicted to grow significantly due to the adoption of fraud detection and prevention software and system across various verticals is predicted to boost the region for fraud detection and prevention market over the forecast period.

Some of the key players in the global fraud detection and prevention market are FICO, Fiserv, FIS Global, Oracle Corporation, IBM Corporation, SAP SE, Lavastorm, ACI Worldwide, SAS Institute Inc., and NCR Limited.

Source: VynZ Research