Fraud Detection and Prevention Market Growth with Worldwide Industry Analysis to 2030 | Impacts of COVID-19

The new report on ‘Global Fraud Detection and Prevention Market’ presents all inclusive compilation of the historical, existing, and future trends to help business owners, strategy planners, marketing executives, and customers to plan effective strategies and gain prominent position in the near future. The report is also beneficial to the investors that will help them planning their future investments carefully and gain higher profits.The market is anticipated to grow at a CAGR of 26% from 2020 to 2030.

The global fraud detection and prevention market is driven by growing applications across finance, insurance, and public/government sectors coupled with improved risk protection and reduced overall costs. Surge in the number of private and public companies is further contributing to growth of the fraud detection and prevention market.

Top Players:

Some of the prominent players in the fraud detection and prevention market include Fair Isaac Corporation., IBM, Fiserv, Inc., FIS, ACI Worldwide, Inc., First Data Corporation., BAE Systems., LexisNexis Risk Solutions, Oracle, Dell Inc., and others.

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Technological advancements have played a vital role in growth of the fraud detection and prevention market. Companies could further benefit from machine-learning-based fraud detection solutions. Machine learning helps data scientists to efficiently determine which transactions are the most likely to be fraudulent while significantly reducing false positives. Such techniques are extremely effective in fraud prevention and detection, as they allow the automated discovery of patterns across large volumes of streaming transactions.

Fraud Detection and Prevention Market By Solution:

Fraud Analytics,
Authentication, and Governance,
Risk, & Compliance

By Application:

Identity Theft,
Money Laundering,
and Payment Fraud

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The shift of pace towards electronic transactions has increased significantly. The increasing utilization of electronic payments can create a significant impact on future economic growth in various countries. Some of the common frauds, such as online phishing or spoofing, identity theft, and merchant & triangulation frauds, may occur during online transactions. The only way to prevent organizations from online fraud is to adopt fraud detection and prevention solutions that meet security needs. This is expected to be a key growth driver for the fraud detection and prevention market.

COVID-19 Impact on the Global Fraud Detection and PreventionMarket:

The emergence of COVID-19 has created several disturbances in smooth functioning of businesses including production, delayed delivery of raw materials, reduced population in workspaces, supply chain interruptions, price fluctuations, and reduced demand from end users and customers. However, researchers have managed to study about the recent strategies during pandemic to avert huge losses and contribute stability of the Global Fraud Detection and Prevention Market. The report also mentions about the futuristic strategies and planning of the business owners post pandemic.

Regional Analysis:

North America dominated the global fraud detection and prevention market. The presence of several key players coupled with the early adoption of various technologies, including AI, the IoT, and machine learning for fraud detection has contributed to the enormous market growth in this region. For instance, in November 2019, FIS, a global leader on financial services technology integrated with IBM Fraud Detection Solution to help clients to tackle person-to-person payment frauds in the U.S.

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Table of Contents

1.INTRODUCTION
1.Market Definition
2.Market Ecosystem
1.Market Classification
2.Geographic Scope
3.Years Considered for the Study
1.Historical Years – 2016 & 2017
2.Base Year – 2018
3.Forecasted Years – 2019 to 2030
3.Currency Used for the Study
4.Report Beneficiary List

2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottoms Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations of the Study
3.Assumptions of the Study

3.ABSTRACT OF THE STUDY

4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities

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