Fraud Detection Technology Market size is expected to grow from $16.62 billion in 2017 to $ 41.59 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.1%. Fraud Detection Technology Market that shares Industry size, latest market trends and global forecast to 2022.
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The increasing fraudulent activities in various industries and the increase in reputation loss and revenue loss for organizations is expected to drive the Fraud Detection (FD) market
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Fraud Detection Market comprises major vendors, such as IBM (US), FICO (US), Oracle (US), SAS Institute (US), BAE Systems (UK), DXC Technology (US), SAP (Germany), ACI Worldwide (US), Fiserv (US), Threat Metrix (US), NICE Systems (Israel), Experian (US), and LexisNexis (US). The stakeholders include FDP service providers, consulting firms, cybersecurity vendors, Value-added Resellers (VARs), telecom providers, and information technology security agencies.
Fraud detection and prevention market size are expected to grow from $16.62 billion in 2017 to $41.59 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.1%. The FDP market is driven by factors, such as the increasing fraudulent activities in various industries, the increasing reputation loss and revenue loss for organizations, and the increasing online transactions over mobile and web applications.
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The key target audience of the FDP market report such as Government agencies, Cybersecurity vendors, Telecom providers, FDP solution providers, Independent software vendors, Consulting firms, System Integrators, VARs, Information Technology (IT) security agencies, Managed Security Service Providers (MSSPs).
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Table of Content
Market Overview and Industry Trends on Fraud Detection Market
- Market Overview
- Market Dynamics
- Increasing Fraudulent Activities in Various Industries
- Increase in Reputation Loss and Revenue Loss for Organizations
- Increasing Online Transactions Over Mobile and Web Applications
- Lack of Integration Capabilities
- Emerging Economies
- Introduction of Ai and Machine Learning Technologies for Detecting Frauds
- Low Levels of Awareness About the Fraud Possibilities in Smes
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In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the FDP marketplace.
- By Company Type: Tier 1: 27%, Tier 2: 48%, and Tier 3: 25%
- By Designation: C-Level: 30%, Director Level: 25%, and Others: 45%
- By Region: North America: 57%, Europe: 16%, APAC: 15%, and RoW: 12%
APAC includes emerging economies, such as India and China, which are rapidly deploying FDP solutions. This is mainly due to growth in fraudulent activities in organizations, and banking and financial institutes with the growing volume of online payment transactions.
APAC is expected to grow at the highest CAGR during the forecast period. Furthermore, North America is expected to have the largest market size in 2017.
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