Fraud Detection and Prevention

Global Fraud Detection and Prevention Market to Reach US$111.8 Billion by 2030

The global market for Fraud Detection and Prevention estimated at US$49.3 Billion in the year 2024, is expected to reach US$111.8 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2024-2030. Solutions, one of the segments analyzed in the report, is expected to record a 14.0% CAGR and reach US$76.5 Billion by the end of the analysis period. Growth in the Services segment is estimated at 16.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$16.3 Billion While China is Forecast to Grow at 16.9% CAGR

The Fraud Detection and Prevention market in the U.S. is estimated at US$16.3 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$19.9 Billion by the year 2030 trailing a CAGR of 16.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.5% and 12.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.8% CAGR.

Global Fraud Detection and Prevention Market - Key Trends & Drivers Summarized

Fraud detection and prevention are critical components of risk management strategies employed by organizations to safeguard against financial losses and reputational damage. This field encompasses a variety of techniques and technologies designed to identify and mitigate fraudulent activities, including payment fraud, credit card fraud, money laundering, identity theft, cyber fraud, and insurance fraud. The adoption of sophisticated fraud detection systems is becoming increasingly essential as the volume and complexity of fraudulent activities continue to rise. These systems utilize advanced analytics, machine learning, and artificial intelligence to analyze vast amounts of data and detect anomalies indicative of fraudulent behavior.

Traditional fraud detection methods often relied on rule-based systems and manual reviews, which, while effective to some extent, are limited in their ability to detect new and evolving fraud patterns. Modern fraud detection solutions leverage machine learning algorithms and behavioral analytics to provide real-time monitoring and predictive capabilities. These technologies can identify unusual patterns and activities that may not fit established rules, thereby improving detection rates and reducing false positives. Additionally, the integration of multi-factor authentication (MFA) and biometric verification enhances security by ensuring that users are who they claim to be.

The growth in the fraud detection and prevention market is driven by several factors. Firstly, the increasing sophistication and frequency of cyber-attacks and fraudulent activities are necessitating advanced detection and prevention solutions. Secondly, advancements in machine learning and artificial intelligence are enhancing the capabilities of fraud detection systems, allowing for more accurate and real-time identification of fraudulent activities. Thirdly, the rise in digital transactions and online banking is increasing the need for robust fraud prevention measures. Additionally, regulatory requirements and compliance standards are pushing organizations to adopt comprehensive fraud management solutions. Furthermore, the growing awareness of the financial and reputational risks associated with fraud is encouraging businesses to invest in advanced fraud detection technologies. Lastly, the integration of biometrics and behavioral analytics is providing enhanced security and reducing the incidence of fraud.

SCOPE OF STUDY:

The report analyzes the Fraud Detection and Prevention market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Solutions, Services); Application (Payment Frauds, Money Laundering, Identity Theft, Other Applications); Vertical (BFSI, Retail & eCommerce, IT & Telecom, Government & Defense, Healthcare, Industrial & Manufacturing, Other Verticals)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 124 Featured) -

• ACI Worldwide Inc.
• BAE Systems plc
• Cacco Inc.
• Cybersource Corporation
• DXC Technology Company
• Equifax Inc.
• Experian plc
• Fair Isaac Corporation
• Feedzai Inc.
• Fiserv, Inc.
• Global Payments Inc.
• IBM Corporation
• LexisNexis Risk Solutions Group
• NICE Ltd.
• Oracle Corporation
• RSA Security LLC
• SAP SE
• SAS Institute Inc.
• Scudetto Corporation
• Software AG

AI INTEGRATIONS
We`re transforming market and competitive intelligence with validated expert content and AI tools.

Instead of following the general norm of querying LLMs and Industry-specific SLMs, we built repositories of content curated from domain experts worldwide including video transcripts, blogs, search engines research, and massive amounts of enterprise, product/service, and market data.

TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by increasing the Cost of Goods Sold (COGS), reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher. Show more