Fraud Detection And Prevention Market is Expected to Grow at 19.66% CAGR with USD 104.7 billion in value by 2032

Pune, India, September 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Fraud Detection And Prevention Market.

Fraud Detection And Prevention Market Overview:

The fraud detection and prevention market is anticipated to witness healthy growth from 2024 to 2032, a research report suggests. Growing at a CAGR of 19.66%, the market is projected to reach USD 104.7 billion by 2032. Adoption of digitalization and IoT is expected to support the market growth along with increasing cyber-criminal frauds. As predicted by analysts, unavailability of qualified security professionals will negatively affect the market’s performance from 2024 to 2032. During the forecast period, the market will be supported by the increasing demand from various industry verticals and favorable policies across regional markets.

The lack of skilled professionals on the other hand will challenge security analysis sector based organizations functioning in the global fraud detection and prevention market. Analysts have split the market into vertical, application, organization size, service, and solution segments based on products and services. Security analysis based companies have been profiled. Concerns regarding high costs are set to affect the global market during the forecast period 2024 to 2032. The report also provides the market’s performance forecasts till 2026. Analysts have studied the strategy of security analysis segment based organizations to help new entrants and established businesses. The security analysis sector itself is supported by the growing application areas as well as the increasing spending power of consumers. During the forecast period 2019 to 2026, the fraud detection and prevention market is set to witness a health growth across vertical, application, organization size, service, and solution segments as well as regional markets.

Market Segmentation

The security analysis sector has seen growth across vertical, application, organization size, service, and solution segments owing to the increasing preference of consumers and the rise in distribution channels. To study the market, analysts have further segmented vertical, application, organization size, service, and solution into fraud detection, authentication, and data synthesis on the basis of solution. The market is further segmented into services sub segment which is split into professional service and managed service. Additionally, the fraud detection and prevention market on the basis of application is segmented into insurance claims, money laundering, electronic payment, and others. The market is further segmented into organization size sub segment which is split into small & medium enterprises and large enterprises. Additionally, the fraud detection and prevention market on the basis of verticals is segmented into BFSI, energy & power, government, healthcare, manufacturing, media & entertainment, real estate, retail, telecommunication, travel & transportation, and others.

The segmental analysis presented in the report provides security analysis field based organizations insights into key growth factors such as increasing awareness levels as well as challenges such as low research and development budgets the market will face from 2024 to 2032. Rise in the use of AI and ML and the surging usage across different industries are some of the key factors having an influence on security analysis industry based companies, suggest analysts as per the fraud detection and prevention market report. But the report also identifies the lack of investments and problems related to supply chain as major threats companies in security analysis will face till 2032. 

Regional Overview

Security analysis market based companies in the fraud detection and prevention market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. High demand across industry verticals will be a key growth driver for regional markets. However, demand and supply gaps will turn out to be a threat. For the forecast period 2024 to 2032 each of these regional markets are studied in the report. Starting from North America, the regional market and security analysis vertical based companies are spread across the United States, Canada, and Mexico. The unavailability of professional services will turn out to be a major challenge from 2024 to 2032. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by advancements in technology as well as the growth of communication channels, suggests the report. Similarly, the security analysis sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the fraud detection and prevention market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2032.

Competitive Landscape

The global fraud detection and prevention market research report brings a comprehensive study of vertical, application, organization size, service, and solution market segments, regional analysis, and security analysis vertical based company details of key players. As the forecast period 2024 to 2032 will bring new opportunities for the market owing to a rise in disposable income and the availability of many untapped opportunities, the market is set to grow at a compound annual growth rate of 25.2% and is predicted to reach a value of USD 104.7 billion by 2032. With SWOT analysis of security analysis sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as growing concerns regarding high cost and the lack of demand from developing countries , companies in the security analysis sector can change the way business is done.

Industry News

NASDAQ has agreed to acquire Verafin, a provider of anti-financial crime tools, for $2.75 billion in cash, according to the firms. Verafin's technology will be made available to the 250 banks, exchanges, broker-dealers, buy-side companies, and regulatory agencies that use the exchange group's trading monitoring services, according to the exchange group. The United Nations estimates that up to $2 trillion is laundered worldwide per year, accounting for up to 5% of global GDP. NASDAQ plans to fund the deal with a mix of leverage and cash on hand totaling $2.5 billion. Beginning in 2022, the acquisition is projected to generate earnings-per-share growth and achieve the company's capital return goals.