Online Payment Fraud Detection Market Highlights, Notable Developments, Scope, Recent Trends and Forecast to 2033

As per a study by Persistence Market Research, from US$ 7 Billion in 2022 to US$ 25.1 Billion in 2032, the global online payment fraud detection market is predicted to grow at a 13.6% CAGR from 2022 to 2032. The major factors that are expected to drive the growth of the online payment fraud detection market include increase in revenue loss due to fraud as well as the Adoption of digitalization and IoT, which have increased the adoption rate of fraud detection and prevention system.

The increased use of online payment applications and mobile banking services has resulted in an increase in the number of bogus websites and mobile apps. Fake websites and online apps are on the rise in other industries, including retail and eCommerce, manufacturing, and healthcare. These websites and apps imitate real retail stores and home delivery services, luring clients into making fraudulent online transactions. Customers in the banking industry are increasingly using mobile applications for a variety of purposes, including online payment, statement review, complaint registration, and feedback.

Request the sample copy of report @ https://www.persistencemarketresearch.com/samples/33078

Moreover, the widespread adoption of technologies including card-chip and new digital channels are emerging resulting in fraudsters becoming more adaptive and collaborative with the nature of financial fraud which is growing rapidly. Increasing internet penetration and digitization across emerging and undeveloped economies are propelling the growth of online payment fraud detection market across the globe. Hence financial institutions, merchants, and payment service providers are adopting the artificial intelligence (AI) technology for managing their online payment fraud incidents and reducing fraud losses, thereby enhancing the customer experience.

Key Takeaways from the Market Study

• By component, online payment fraud detection solutions is expected to grow at a CAGR of 13.2% during the forecast period
• On the basis of deployment, cloud-based online payment fraud detection to experience a CAGR of 13.1%
• Online payment fraud detection market for the U.S is expected to be worth US$ 8.2 Billion by 2032
• China is expected to reach US $ 2 billion by 2032, growing at a CAGR of 13.1% until 2032
• Japan to have a market size of US$ 1.6 billion by 2032
• U.K is expected to have a market size of US$ 1.1 Billion by 2032, with a CAGR of 12.6%

Competitive Landscape

Major players such as

• IBM
• FICO
• SAS
• BAE Systems
• DXC Technology
• SAP
• ACI Worldwide
• Fiserv
• NICE Systems
• Experian

among others are expected to dominate the market share in terms of revenue.

For In-Depth Competitive Analysis, Buy Now @ https://www.persistencemarketresearch.com/checkout/33078

• In April 2021, NICE Actimize launched SURVEIL-X, an AI-powered suitability and surveillance solution for the wealth and insurance sector. The solution developed on holistic surveillance platform called as SURVEIL-X.
• In February 2021, ClearSale LLC launched an e-commerce podcast to detect and mitigate fraud activities. The solution is developed to discuss challenges and emerging trends related to fraud across e-commerce and social media platforms during the ongoing COVID-19 pandemic.
• In November 2020, BAE Systems upgraded its NetReveal KYC/CDD, watch list screening, and anti-money laundering transaction monitoring, and filtering solutions services.

Find More Valuable Insights on Online Payment Fraud Detection Market

Persistence Market Research (PMR) published a detailed study on the Online Payment Fraud Detection Market, which includes global industry analysis for 2015-2021 and forecasts for 2022-2032. The report provides an insightful analysis of the market concentration across five different regions, through three different segments - component, deployment, and vertical. The report titled - 'Online Payment Fraud Detection' deliberates current installed base, product usage in various applications from domestic to industrial, as well as prevailing trends and technologies. Along with this, detailed value chain analysis pertaining procurement and aftermarket services has been presented in the report.

Request For Report Customization @ https://www.persistencemarketresearch.com/request-customization/33078

Trending Reports -

Mobile Data Protection Market - https://www.persistencemarketresearch.com/market-research/mobile-data-protection-market.asp

Mobile Device Management Market - https://www.persistencemarketresearch.com/market-research/mobile-device-management-market.asp

Mobile Marketing Market - https://www.persistencemarketresearch.com/market-research/mobile-marketing-market.asp

ON Board Connectivity Market - https://www.persistencemarketresearch.com/market-research/on-board-connectivity-market.asp

About us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

Contact us:

Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

This release was published on openPR.