Overview

Fraud Detection and Prevention (FDP) Market Introduction:

The global fraud detection and prevention (FDP) market is forecasted to value over US$ 44 billion by the end of 2027 and expand at a CAGR of over 16% during the forecast period of 2020-2027.

The radical transformation from physical currency, checks, credit or debit cards, to digital payments and digital currencies, remains to change the way customers and companies transact. Security and guarantee are primary necessities for transactions, e-commerce, and finance, particularly in a digital economy.

The developing use of technology, paired with the increasing use of digital platforms, such as mobile and internet banking, the convenient preferences of consumers for banking services, there is a crucial need for banks to employ solutions such as fraud prevention.
Fraud prevention and detection signifies as the greatest area for concerns for financial organisations and is anticipated to grow as one of the leading factors for IT spending.

As compared to any other industry, BFSI is most likely to observe fraudulent activities either externally or from internally (employees). It's imperative to prevent these activities, hence this industry requires resilient fraud detection and prevention solutions.

Complex data breaches, online attacks, and malware are foreseen to expand the requirement for fraud detection solutions.

Key Market Players are:
Dell Technologies, IBM, ACI Worldwide, LexisNexis Risk Solutions, Friss, Software AG, Distil Networks and others.

Fraud Detection and Prevention (FDP) Market Segmentation:
By Component

Solutions
Services

By Solution

Authentication
Fraud Analytics
Governance, Risk, and Compliance
Others

By Service

Money Laundering
Payment Fraud
Identity Theft
Others

By Deployment Mode

On-Premises
Cloud

By Organisation Size

Small and Medium-Sized Enterprises
Large Enterprises

By Vertical

Telecommunication
Government/Public Sector
Banking, Financial Services, and Insurance
Healthcare
Manufacturing
Real Estate
Energy and Power
Others

By Region

Europe
North America
APAC
Latin America
Rest of World

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth

Objectives of the Study:

To provide an exhaustive analysis on Global Fraud Detection and Prevention (FDP) Market by Solution, by Service, by Application Area, by Organization Size, by Vertical, and by Region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies