Global Fraud Detection & Prevention Market By Components (Services, Solution - Authentication, Fraud Analytics - Predictive Analytics, Customer Analytics, Social Media Analytics, Big Data Analytics, Behavioural Analytics), Organization Sizes (Small & Medium Enterprises, Large Enterprises), Deployment Types (On-Demand, On-Premise), Verticals (BFSI, Manufacturing, Government & Defense, Energy & Utilities, Real Estate, Telecom & IT, Healthcare & Life Science, Retail)
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The Global Fraud Detection & Prevention Market size is expected to reach $42.6 billion by 2023, rising at a market growth of 19.6% CAGR during the forecast period. Fraud detection and prevention systems are software applications used in providing analytical solutions to detect and prevent fraud in uncertain conditions. The fraud detection and prevention market growth is driven due to factors such as rapid growth in the adoption of big data analytics, cloud computing services and unparalleled growth in mobile banking. Cloud infrastructure is a perfect platform for various organizations to meet cloud security compliance requirements for encryption, separation of duties and allow access controls for protected data.
Additionally, growth in the enterprise data and its complexity, industry specific requirements and rising cost for fraud protection solutions further contribute to the growth of the market. Based on Components, the market report segments the market into Services and Solutions. Solutions market includes Authentication and Fraud Analytics. Authentication market is further segmented into Single Factor Authentication and Multi Factor Authentication. Fraud Analytics is further segmented into Predictive Analytics, Customer Analytics, Social Media Analytics, Big Data Analytics, and Behavioural Analytics.
Based on Organization Sizes, the Global Fraud Detection & Prevention market segments the market into Small & Medium Enterprises and Large Enterprises. Based on Deployment Types, the market report segments the market into On Demand and On Premise. Based on Verticals, the market report segments the market into On Demand and On Premise. Based on Regions, the Global Fraud Detection & Prevention market segments the market into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The market research report covers the competition analysis of key stake holders of the Global Fraud Detection & Prevention Market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, SAS Institute, Inc., Fair Isaac Corporation (FICO), SAP SE, Bae Systems, ACI Worldwide, Inc., NCR Corporation, Martin Dawes Systems Limited (Lavastorm), and ThreatMetrix.