Fraud Detection & Prevention Market By Solution (Fraud Analytics, Authentication, Governance, Risk, & Compliance Solutions), By Deployment Type (Cloud, On-premise), By Service (Professional Services, Managed Services), By Application Area (Insurance Claims, Money Laundering, Electronic Payment), By Organization Size (Small and Medium Enterprises, Large Enterprises), Industry trends, Estimation & Forecast, 2017 - 2025

Criminal or wrongful deception intended to achieve financial or personal gain is called as a fraud. Fraud detection and prevention (FDP) is set of software which helps to predict and detect the fraud. FDP used advanced analytical methods for predictive fraud detection. Fraud has become a huge issue for the global business organizations- ranging from misuse of identity, fraudulent high-value contract, and large-scale financial frauds. Traditional fraud detection methods are becoming obsolete and new sophisticated methods are being implemented for predictive fraud detection, thereby leading global FDP market for significant growth.

Market Dynamics

Evolving mobile banking practices and development of big data analytics are major factors fueling the growth of global FDP market. Further, the shift from traditional real-time analytics to predictive analytics also boosts the market growth of FDP market across the globe. Elements such as high return on investment period (ROI) and lack of awareness about fraud detection & prevention among SMEs might restrain the market for further growth. Growing need of strong authentication methods and demand for agile data analytics are prime opportunities for global FDP market. Upgrading disparate transaction systems is going to be the biggest challenge for global FDP market.

Fraud Detection & Prevention Market Segmentation

By Solution  • Fraud Analytics • Authentication • Governance, Risk, and Compliance Solutions By Deployment Type • Cloud • On-premise By Service • Professional Services • Managed Services By Application Area • Insurance Claims • Money Laundering • Electronic Payment By Organization Size  • Small and Medium Enterprises (SMES) • Large Enterprises By End User • Banking, financial services, and insurance (BFSI) • Government and education • Healthcare • Telecom and it • Retail • Manufacturing • Media and entertainment • Others (business service providers, energy and utilities, transportation, and construction) By Geography • North America • Europe • LAMEA • Asia-Pacific