The global fraud detection and prevention market is
Westford, USA, May 24, 2022 (GLOBE NEWSWIRE) — In Fraud detection and prevention market, Fraud is defined as any unlawful act of willfully deceiving someone with unfair and unlawful intent for financial or personal gain. Fraud detection and prevention systems are software applications that provide analytical solutions for fraud incidents and help in the identification and prevention of future occurrences. Due to industrial expansion and an increase in fraudulent activities, due to the massive generation of corporate data and increased technological advancement, businesses are becoming more vulnerable to incidents of fraud that can lead to financial loss. .
Based on a study on the fraud detection and prevention market, the increased investment of major market players in introducing secure fraud solutions in various industries such as manufacturing, BFSI, healthcare and others is expected to drive the market growth. Governments and end-user companies in countries such as India, USA, Brazil, China, UK, Germany and Brazil, among others, are investing in advanced pollution prevention solutions. fraud. The market is growing due to a shift in focus of end users towards e-commerce platforms. The major market players are focusing on a variety of business strategies to expand their product offerings.
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Fraud detection and prevention market report analysis revealed that the introduction of big data analytics and cloud computing services, along with the rapid growth of mobile banking services, are driving the growth of the fraud detection and prevention market. Cloud infrastructure enables organizations to meet cloud security compliance requirements for encryption, segregation of duties, and access control to protected data. Furthermore, the increase in the generation of enterprise data and its complexity, high industry-specific requirements and an increase in the incidence of fraud are all contributing to the growth of the detection and prevention market. fraud.
Read the Market Research Report, “Global Component-Based Fraud Detection and Prevention (Solutions and Services) Market Size, Share, and Trend Analysis Report, by Industry application (insurance claims, money laundering, electronic payment and others), by deployment (cloud and on-premises), by company size (large enterprises and small and medium enterprises (SMEs)), by industry (BFSI , IT & Telecommunications, Retail & Consumer Packaged Goods, Government, Construction & Real Estate, Energy & Utilities, Travel & Transportation, Manufacturing, Healthcare & Life Sciences, Media & Entertainment & Others, by Region, and forecast and analysis by segment 2021-2027 by SkyQuest
Based on analysis of the fraud detection and prevention market, we have found that businesses in various industries are under increased operational and financial pressure due to the pandemic, creating a higher level of economic risks. such as lower revenues and profits and loss of market demand. . These financial risks can increase motivation to commit fraud through manipulation of financial results, misrepresentation of facts, and misappropriation of assets, among other fraudulent schemes.
In terms of the types of fraudulent activity undertaken by insiders/employees, the BFSI industry has been the most vulnerable. Employees have been accused of fraud in several cases (eg PNB fraud in India). To prevent these fraudulent activities, the industry needs robust fraud detection and prevention solutions.
North America is expected to be the largest contributor to the fraud detection and prevention market. It is one of the regions of the world most affected by money laundering and terrorist financing crimes and, as a result, it has the largest number of fraud detection and prevention providers. Banks, governments and financial institutions in this region face ever-increasing fraud challenges, forcing them to implement advanced technological approaches to fraud management. As the world moves towards interconnections and digitization, protecting critical business infrastructure and sensitive data has become one of the major challenges. North America, a technologically advanced region, leads the world in terms of presence of cybersecurity vendors.
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The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in SkyQuest reports are derived from proven research methodologies and assumptions. Our in-depth research analysis implements a four-pronged approach to estimating the market size. Extensive primary and secondary research is conducted to collect information on the market, peer market and parent market. The next step is to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches are used to estimate the complete market size. Thereafter, market breakdown and data triangulation is performed to estimate the market size of the segments and sub-segments.
The major market players are constantly adopting various innovation and growth strategies to capture more market share. The major market players are IBM Corporation, Uplexis, Experian Information Solutions, Inc, and Gemalto – Thales Group, among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.
- Drivers- The increasing use of online apps and mobile banking has increased the number of fake websites and mobile apps. Fake websites and online apps are on the rise in other industries, including retail and e-commerce, manufacturing, and healthcare. which is expected to accelerate the growth of the market.
- Detention- Law enforcement agencies are constantly on the lookout for fraud detection and prevention companies as this is a highly sensitive industry, which is a major impediment to the growth of the detection and prevention market. frauds.
What does this report bring?
- Market estimate for more than 20 countries
- Customization of segments, regions and company profiles
- 100+ tables, 150+ figures
- Global and National Fraud Detection and Prevention Market Trends
- Comprehensive mapping of fraud detection and prevention industry metrics
- Attractive investment proposition
- Competitive strategies adopted by leading Fraud Detection and Prevention market players
- Fraud Detection and Prevention Market Drivers, Restraints, Opportunities, and Market Impact
- Fraud Detection and Prevention Market Growth Rate to 2027
- Regulatory scenario, regional dynamics and Fraud Detection and Prevention market overview of key countries in each region
- Fraud detection and prevention Market opportunity analysis by region and country
- Opportunity and Growth of Fraud Detection and Prevention Market Segmentation
- Porter’s five forces analysis to know the state of the market
- Price analysis
- Parent Market Analysis
- Benchmark of the product portfolio
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SkyQuest has segmented the global fraud detection and prevention market on the basis of components, applications, deployment, company size, industry, and region:
- Global Fraud Detection and Prevention Market by Component (Revenue, USD Million, 2021-2027)
- Predictive analytics
- Customer Analytics
- Social media analysis
- Big data analytics
- Behavioral analysis
- Single factor authentication
- Multi-factor authentication
- Fraud analysis
- Governance, Risks and Compliance
- Training and education
- Support and maintenance
- Professional services
- Managed Services
- Global Fraud Detection and Prevention Market by Application (Revenue, USD Million, 2020 – 2027)
- Insurance claims
- money laundering
- Electronic payment
- Others (Banking, etc.)
- Global Fraud Detection and Prevention Market by Deployment (Revenue, USD Million, 2020-2027)
- Global Fraud Detection and Prevention Market by Company Size (Revenue, USD Million, 2020-2027)
- Large companies
- Small and medium-sized enterprises (SMEs)
- Global Fraud Detection and Prevention Market by Industry (Revenue, USD Million, 2020-2027)
- IT and Telecom
- Retail and Consumer Packaged Goods
- Construction and Real Estate
- Energy and Utilities
- travel and transportation
- Health and life sciences
- Media and Entertainment
- Global Fraud Detection and Prevention Market by Region (Revenue, USD Million, 2020-2027)
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central and South America
- Middle East and Africa
- GCC countries
- South Africa
- Rest of MEA
List of Key Fraud Detection and Prevention Market Players
- IBM Corporation (USA)
- Uplexis (Brazil)
- Experian Information Solutions, Inc. (Brazil)
- Gemalto – Thales Group (France)
- ACI Worldwide, Inc. (USA)
- BAE systems (USA)
- Fair Isaac Corporation (USA)
- Fidelity National Information Services, Inc. (USA)
- LexisNexis (USA)
- NICE Actimize Ltd. (Israel)
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