Global Fraud Detection and Prevention (FDP) Market Estimated to Account for Over US $44 Billion by 2026 End

  • 24 Jun 2019

The global fraud detection and prevention (FDP) market is forecasted to value over US$ 44 billion by the end of 2026 and expand at a CAGR of over 16% during the forecast period of 2019-2026.

Fraud Detection System is a web-based security solution that prevents security threats. It signals the customers in advance about the fraud in order to prevent falling prey to the perpetrators. The system analyzes suspicious behaviour and reports security breaches. Unlike major network security solutions, this system alerts the customer about a suspicious activity without it escalates. 

Fraud Detection and prevention solutions help organizations to maintain security and counterfeiting of products and service. This costs the firm in terms of revenue and customers. To maintain privacy, while efficiently operating and saving costs, promotes the market’s growth. 
In order to increase security and the call for cloud-based security solutions, the sophistication of cyber frauds and attacks and the emergence of big data analytics are some key factors boosting the market growth. 

New developments in this field have been, in 2017, authentication solution provider HYPR Corp. received an investment from Mastercard to expand its technology to Mastercard’s ecosystem, as well as major banks and financial institutions. Thus, further such initiatives led by major players in the industry are expected to drive innovation in the authentication solutions.

Fraud Detection and Prevention (FDP) Market Restraints:
+ Lack of skilled workers
+ High service cost 

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

By Solution 
+ Authentication
+ Fraud Analytics 
+ Governance, Risk, and Compliance 
+ Others 
The authentication segment is projected to hold the largest market size during the forecast period. Authentication plays a very crucial role, as this keeps the fraudsters away and minimises breach as they are the first line of defense and thus are vital for firms.

By Service 
+ Money Laundering 
+ Payment Fraud 
+ Identity Theft 
+ Others

By Deployment Mode 
+ On-Premises 
+ Cloud
With an increase in virtual devices and managers of data, with technological improvements, the world is moving towards web-based services. Thus data stored on the net, it drives the demand for on cloud FDP during the forecast period. 

By Organisation Size
+ Small and Medium-Sized Enterprises 
+ Large Enterprises 
The large industries need strong security given the tough competition and thus increased chances of security threats. To safeguard and maintain privacy about confidential information, the need for FDP is rising in the big industries. The small and medium industries are trying to expand their business and thus beat the competition by keeping their data safe thus fueling the demand for this market.

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

By Region:
+ Europe 
+ North America 
+ Latin America
+ Rest of World
North America is estimated to hold the largest market size in the Fraud Detection and Prevention Market during the forecast period. The FDP market in Asia Pacific (APAC) is expected to grow at the highest CAGR. Due to an increase in technological improvements, and strict directives for data privacy in APAC countries, especially India and China, the market is expected to grow further.

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 
The major firms in the market are Dell Technologies, IBM, ACI Worldwide, LexisNexis Risk Solutions, Friss, Software AG, Distil Networks and others.

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


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