The Global Fraud Detection & Prevention (FDP) Market

The Global Fraud Detection & Prevention (FDP) Market

The Fraud Detection & Prevention (FDP) market consists of vendors that provide software solutions that leverage Identification and Authentication technologies to detect and prevent incidents of fraud. The market can be divided into three segments; Identity, Fraud Detection, and Authentication & Behavioral Biometrics.

Identity solutions verify identity against a broad set of personal and digital data and utilize when the account is originated or provisioned. All the actions form basis for greater identity confidence.

Behavioral Biometrics authentication allows to validate that claimed identity of the user is who they say they are based on unique variables that are collected during the user's interaction with the device or application. Some of many such variables may include mouse activity, keystroke movement, the angle of holding the device, typing rhythm, geolocation, number of touch events, mouse travel distance.

Fraud Detection aims to identify potentially fraudulent actions by investigating suspicious behaviors and inconsistent data elements. It also determines the fraud risk of online transactions and identities, keeping organizations safe from financial and reputational damage.

Common FDP services include: gathering and analysing user‘s behavioural and biometric data, account takeover protection, payments protection and monitoring, Bot detection, User validation, Transaction fraud protection etc. Organizations decide to work with FDP vendors mostly due to lack of in-house capabilities and technology. FDP vendors are able to collect, process and score variety of data that allows for better decision making process within organizations that conduct businesses in digital environments. This study focuses on the Global Fraud Detection & Prevention market and includes revenue forecast for 2021-2024, with analysis of regions including North America, Latin America, Europe, Middle East, and Africa (EMEA), and Asia Pacific (APAC). The analysis also provides breakdown by verticals – Financial Services, Education, Retail / e-Commerce, Government, Healthcare, Manufacturing, Media & Entertainment, Technology/Telecom, as well as by customer size; <100 employees, 100 - 1,000 employees, 1,001 - 2,500 employees, 2,501 – 10,000 employees, and more than 10,000 employees.