Fraud Detection & Prevention Market – Global Demand and Trends Registering a CAGR of 17% in Coming Years
The use of digitalization and IoT has increased the adoption rate of FDP, and increasing revenue losses due to fraud cases.
PORTLAND, PORTLAND, OR , UNITED STATES, August 20, 2021 /EINPresswire.com/ — The emergence of big data analytics, rise in demand for cloud-based security solutions, and rapid increase in mobile banking fuel the growth of the global fraud detection & prevention market. On the other hand, the high cost of fraud detection and prevention solutions hamper the growth to a certain extent. Nevertheless, the need for strong authentication methods is expected to create a number of opportunities for the key players in the industry.
The global fraud detection & prevention market was estimated at $15.83 billion in 2017 and is expected to reach $40.61 billion by 2023, growing at a CAGR of 17% from 2017 to 2023. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Based on service, the professional service segment held the major share in 2017, generating more than half of the total market. The managed service, on the other hand, would cite the fastest CAGR of 17.4% during the estimated period.
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Based on the solution, the authentication segment contributed to nearly three-fifths of the total market share in 2017 and is expected to retain its top status throughout the forecast period. Simultaneously, the fraud analytics segment would showcase the fastest CAGR of 17.7% till 2023.
Based on geography, North America accounted for more than one-third of the total market revenue in 2017 and is projected to rule the roost by 2023. At the same time, the Asia-Pacific region would grow at the fastest CAGR of 18.2% throughout 2017–2023.
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Profiling Key Players: ACI Worldwide, BAE Systems, SAP SE, IBM Corporation, Oracle Corporation, and others.
Highlights of the report:
1. Comprehensive assessment of all opportunities and risk in the global market.
2. Fraud detection & prevention market recent innovations and major events.
3. Detailed study of business strategies for growth of the fraud detection & prevention market leading players.
4. Conclusive study about the growth plot of fraud detection & prevention market for forthcoming years.
5. In-depth understanding of fraud detection & prevention market-particular drivers, constraints and major micro markets.
6. Favourable impression inside vital technological and market latest trends striking the fraud detection & prevention market.
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