Market Research Report
Fraud Detection and Prevention (FDP) - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||791939|
|Published||Content info||158 Pages
Delivery time: 2-3 business days
|Fraud Detection and Prevention (FDP) - Global Market Outlook (2017-2026)|
|Published: January 1, 2019||Content info: 158 Pages||
According to Stratistics MRC, the Global Fraud Detection and Prevention market accounted for $17.52 billion in 2017 and is expected to reach $120.2 billion by 2026 growing at a CAGR of 23.9% during the forecast period. Growing demand for cloud-based security solutions, sophistication of cyber frauds and attacks and emergence of big data analytics are some key factors boosting the market growth. However, lack of skilled professionals is restricting market growth.
Any illegal act involving the obtaining of something of value through willful misrepresentation is called fraud. Fraud detection and prevention services and solutions are provided by IT companies to the various enterprises and organizations. The solution controls users are provided access by authentication and verification for fraud prevention. FDP systems analyze data from a wide range of data sources for possible inaccuracies. It analyzes patterns, anomalies and trends in the transactions. It identifies the outliers and reports the same in case of doubtful situations and transactions. FDP prevents unauthorized access from preventing fraud incidents. It also verifies user identity and maintains data integrity.
By End User, Banking, Financial Services, and Insurance held significant growth during the forecast period. The growth is due to the growing adoption of these solutions due to the high requirement to strengthen authentication processes for customers. Based on geography, Asia Pacific commanded the largest market share due to increasing penetration of the Internet and growing usage of mobile data for various applications.
Some of the key players profiled in the Fraud Detection and Prevention market include IBM, FIS Global, Bae Systems, Lexisnexis Risk Solutions, Friss, DXC Technology, SAS Institute, First Data, Easy Solutions, Simility, Securonix, Guardian Analytics, Software AG, Fico, ACI Worldwide, Wirecard, Maxmind, Fiserv, Experian and Iovation.
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Note : North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in above manner.