The fraud detection and prevention market is predicted to account for US$ 133.5 Billion in 2032, up from US$ 27.1 Billion in 2022, advancing at a CAGR of 17.3% during the forecast period (2022-2032).

Due to the rise in cyberattacks globally, the demand for fraud detection and prevention is predicted to rise between 2022 and 2032. To decrease such incidences, the market for fraud detection and prevention is projected to see an increase in usage.

Due to the large number of users spending time on online sites or e-commerce sites to buy groceries and other personal use products, which raises the sales of fraud detection and prevention, the hackers are increasing the market while hacking various e-commerce and online shopping sites.

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They pay using an online payment method where they run the risk of defrauding live customers during their online transaction, which has sped up the adoption of fraud detection and prevention in businesses.

Key Takeaways:

  • Based on the fraud type segment, payment fraud is estimated to dominate the fraud detection and prevention market share during the forecast period 2022 to 2032.
  • By the Vertical segment, retail & commerce is anticipated to lead the fraud detection and prevention market size in the forecast period 2022 to 2032.
  • The U.S. holds a prominent role in the fraud detection and prevention market trends due to the number of corporate sectors and multi-national companies in the country.
  • By 2032, the fraud detection and prevention market share is anticipated to rise to the valuation of US$ 133.5 Billion with a CAGR of 17.3%.

Competitive Landscape:

In the upcoming forecast period from 2022 to 2032, the leading rival firms are concentrating on the growth of fraud detection and prevention market share. The businesses are taking the lead in the expansion of fraud detective and prevention market analysis with their cutting-edge abilities and strategies.

They employ strategies like partnerships, mergers, and collaboration, among others, to strengthen the economy in the upcoming year. The following are a few of the prominent essential participants. They include Kount, Inc., BAE System Plc, Nice Actimize, ACI Worldwide Inc, FICO, LexisNexis, and TransUnion.

Key Segments

By Components:

  • Solutions Fraud Analytics, Authentication, Government, Risk and Compliance
  • Services {Professional Services, Managed Services}

By Fraud Type:

  • Check Fraud
  • Identity Fraud
  • Internet/Online Fraud
  • Investment Fraud
  • Payment Frauds
  • Insurance Fraud
  • Others

By Deployment Mode:

  • Cloud
  • On-premises

By Organization Size:

  • SMEs
  • Large Enterprises

By Vertical:

  • BFSI {Banking and Financial, Insurance}
  • Retail and Commerce
  • Government
  • Healthcare
  • Manufacturing
  • Ravel
  • Transportation
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa