Impact of COVID-19 Outbreak on Global Fraud Detection and Prevention Industry | Market Synopsis & Forecast – 2030

According to the latest report by IMARC Group “Fraud Detection and Prevention Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global fraud detection and prevention market to grow at a CAGR of around 18% during the forecast period (2021-2026).Fraud detection and prevention includes various automated solutions that enable organizations to detect as well as assist in taking required measures to prevent fraudulent activities.

These solutions are also widely integrated with various state-of-the-art technologies to procure illegally stolen resources and effectively reduce the repercussions of scams.

They are, therefore, widely deployed in numerous organizations to improve operational efficiency while ensuring proper security of their financial and network solutions.Request for a free sample copy of this report: https://www.imarcgroup.com/fraud-detection-prevention-market/requestsampleNote: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.

With the growing adoption of digitization across numerous industry verticals, there has been a rise in the incidences of cybercrimes and cyber frauds across the globe.

This has impelled numerous companies to integrate their systems with fraud detection and prevention solutions, which is providing an impetus to the market growth.

Along with this, digital payment apps and cross-border transactions are also gaining widespread prominence on the global level, which has contributed to the rising number of fraudulent cases that involve data breaches, payment frauds and identity thefts.

Fraud Detection and Prevention Market 2021With rising incidences of fraud across a variety of industries, enterprises and government bodies are losing large amounts of capital every year.

Furthermore, increased use of digital data mode, high usage of internet enabled devices, and cloud services has rapidly increased the vulnerability of enterprises towards fraud, further fueling the fraud detection and prevention market.With growing digitization, fraud detection and prevention market has witnessed the replacement of traditional methods of fraud detection by advanced techniques.

The introduction of key technologies namely big data analytics, cloud computing services, AI and machine learning are driving the growth of fraud detection and prevention market.

For instance, LexisNexis offers fraud detection solutions leveraging advanced analytics and robust data to combat insurance fraud.

This solution helps insurance carriers identify and investigate potentially fraudulent claims and questionable provider behavior more efficiently.

On the other hand, deepsense.ai builds machine learning algorithms that are more efficient than rules-based systems for fraud detection.

According to a research report "Fraud Detection and Prevention (FDP) Market by Solution (Fraud Analytics, Authentication, and Governance), Service, Application Area (Identity Theft, Payment Frauds, and Money Laundering), Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets, the Fraud Detection and Prevention market size expected to grow from USD 19.5 billion in 2018 to USD 63.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 26.6% during the forecast period.Growth factors for the FDP market include increasing revenue losses faced by the organizations due to growing frequency and sophistication of cyber frauds and attacks and rapid growth in electronic transactions.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1312Browse and in-depth TOC on "Fraud Detection and Prevention (FDP) Market - Global Forecast to 2023"116 - Tables 58 - Figures 219 - PagesPayment fraud application area segment to dominate the Fraud Detection and Prevention marketPayment fraud is a form of incorrect or unlawful transaction done by a cybercriminal.

The increasing number of fraudulent activities related to digital transactions and payments is the reason for the growing demand for FDP solutions in this application area.

The payment fraud application segment includes electronic payment fraud, mobile payment fraud, and credit card or debit card frauds.

With the growth in eCommerce, retailers are facing several issues, including fraudulent transactions.

APAC is highly concerned with the increase in security spending, owing to the ever-growing threat landscape.

Due to the increasing organization size and business complexities, SMEs in APAC have also begun investing in FDP solutions.

The Global Fraud Detection And Prevention Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.

The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.

The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on solution, service, application, end user and vertical.

These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.

The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Fraud Detection And Prevention Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/10233-fraud-detection-and-prevention-market-reportThe report also covers the complete competitive landscape of the global Fraud Detection And Prevention market with company profiles of key players such as:ACI Worldwide Inc.BAE Systems Inc.Computer Sciences Corporation (CSC)Fair Isaac Corporation (FICO)Fiserv Inc.IBM CorporationOracle Corporation.SAP SESAS Institute Inc.ThreatmetrixA detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Solution:Fraud AnalyticsPredictive AnalyticsCustomer AnalyticsSocial Media AnalyticsBig Data AnalyticsBehavioral AnalyticsAuthenticationSingle-Factor Authentication (SFA)Multifactor Authentication (MFA)By Service:Professional ServiceManaged ServiceBy Applications:Insurance ClaimsMoney LaunderingElectronic PaymentOthersBy End User:Small and Medium Enterprises (SMEs)Large EnterprisesBy Vertical:BFSIRetailTelecommunicationGovernment/Public SectorHealthcareReal EstateEnergy & PowerManufacturingTravel & TransportationMedia & EntertainmentOthersBy Geography:North America (NA)Europe (EU)Asia Pacific (APAC)Latin America (LA)Middle East & Africa (MEA)Download Free Sample Report of Global Fraud Detection And Prevention Market @ https://www.decisiondatabases.com/contact/download-sample-10233The Global Fraud Detection And Prevention Market has been exhibited in detail in the following chapters –Chapter 1 Fraud Detection And Prevention Market PrefaceChapter 2 Executive SummaryChapter 3 Fraud Detection And Prevention Industry AnalysisChapter 4 Fraud Detection And Prevention Market Value Chain AnalysisChapter 5 Fraud Detection And Prevention Market Analysis By SolutionChapter 6 Fraud Detection And Prevention Market Analysis By ServiceChapter 7 Fraud Detection And Prevention Market Analysis By ApplicationsChapter 8 Fraud Detection And Prevention Market Analysis By End UserChapter 9 Fraud Detection And Prevention Market Analysis By VerticalChapter 10 Fraud Detection And Prevention Market Analysis By GeographyChapter 11 Competitive Landscape Of Fraud Detection And Prevention CompaniesChapter 12 Company Profiles Of Fraud Detection And Prevention IndustryPurchase the complete Global Fraud Detection And Prevention Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-10233Other Reports by DecisionDatabases.com:Global Threat Detection Systems Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Chemical Detection Technology Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Fall Detection System Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.

DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.

The Global Fraud Detection and Prevention Market size is estimated to be USD 24.62 billion in 2019 and is predicted to reach USD 321.16 billion by 2030 with a CAGR of 26.3% from 2020-2030.Any illegal and unlawful act done to get any value from something is known as fraud.

It helps in the identification and data and its integrity, it also helps in the online transaction by authenticating the access by the responsible person to further avoid such actions.Access Full Description of this report at:- https://www.nextmsc.com/report/fraud-detection-and-prevention-market Top Companies: IBM Corporation, SAP SE, Oracle Corporation, ACI Worldwide, Lavastorm, ThreatMetrix, SAS Institute Inc., BAE Systems, NCR Limited and others.The global fraud detection and prevention market share is analyzed on the basis of solution type, services, deployment, end user, industry vertical and geography.

On the basis of solution type, the market is segmented into fraud analytics and authentication.

On the basis of services, the market is divided into Professional and Managed.

Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.Request sample copy of this report at:- https://www.nextmsc.com/fraud-detection-and-prevention-market/request-sample North America represents the developed market share over the forecast period coupled with increased adoption of fraud detection and prevention software coupled with technological advancement and increase in data based enterprises, presence of developed infrastructure and increased awareness among people are further expected to fuel the marker growth.

Asia pacific is expected to develop significantly over the forecast period owing to the presence of developing economies coupled with increased penetration of internet and mobile devices, increase in fraud cases and wide application is further expected to augment the growth of fraud detection and prevention market over the forecast period.About Next Move Strategy Consulting:Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share.