(FDP) Fraud Detection and Prevention Market is Projected to Reach $80 Billion by 2025
The Asia Pacific Fraud Detection and Prevention Market is projected to exhibit more than 25% of CAGR over the forecast timeline
Selbyville, United States – September 30, 2019 /MarketersMedia/ —
Global (FDP) Fraud Detection and Prevention Market share has accrued substantial momentum lately, a feat that can be accredited to growing incidence of corporate economic theft and other financial misdeeds. Furthermore, intensifying demand to keep track of real-time transactions and make them secure has also pushed technical advancements in digital payments which will also add stimulus to fraud detection and prevention industry size growth. According to the latest research report by Global Market Insights Inc., fraud detection and prevention market size will surpass $80 billion by 2025.
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The service segment in fraud detection and prevention market is estimated to register more than 25% of CAGR between 2019 and 2025 due to the increasing deployment of FDP solutions across enterprises. Fraud services include fraud identification, detection, and prevention services, with service providers retaining the responsibility for the functionality of its services. Fraud services consist of a wide variety of anti-fraud measures, tackling frauds from early stages of transactions to investigations and recovery procedures. With organizations consistently under threats from various frauds and being exposed to huge financial losses, the adoption of fraud services has significantly increased.
The credit & debit card frauds held over 20% of the Fraud Detection and Prevention Market share in 2018 and is anticipated to maintain its market share over the forecast timeline due to the increasing use of chips in credit & debit cards that do not require authentication for small-value transactions. The credit & debit card frauds involve frauds, thefts or any illegal transactions performed by a payment card (debit/credit), using the card as a fraudulent source of money for transactions. Such frauds are either performed to make online purchases without paying or transferring funds from a particular account. With the increase in the migration of the global economy toward digital payments and reduced use of physical cash, card-based financial transactions have risen significantly. Card facilities are availed by nearly all bank customers, making cards one of the most fraud-prone payment mediums.
The fraud detection and prevention market in education segment is estimated to register a substantial growth rate between 2019 and 2025 due to the lack of internal controls, unclear reporting channels, missing management reviews, and insufficient personnel for monitoring frauds. The educational sector employees often find new methods to trick systems, fueling frauds in educational systems. Adequate awareness and stringent anti-fraud regulations are anticipated to reduce fraudulent activities. The educational institutions are spending a huge amount to detect and prevent fraudulent activities. For instance, Texas A&M University, which ranks eighth in the list of the wealthiest U.S. universities (grants worth USD 11.5 billion in 2018), set up a 24×7 misconduct hotline. It addresses all types of scams, frauds, and illicit activities, providing fully anonymous reporting.
The Asia Pacific Fraud Detection and Prevention Market is projected to exhibit more than 25% of CAGR over the forecast timeline due to the burgeoning e-commerce sector. The rapid surge in digital payment methods coupled with a high proportion of digital illiteracy is increasing the amount of fraud loss in the region. The recent fraud scandals such as 1MDB scandal (Malaysia) and PNB fraud (India) are propelling the demand for FDP solutions across various end-uses in the regions.
Browse key industry insights spread across 300 pages with 420 market data tables & 38 figures & charts from the report, “(FDP) Fraud Detection and Prevention Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/fraud-detection-and-prevention-market
Prominent players including payment technology providers, software developing firms, and financial institutions that operate in the Fraud Detection and Prevention Market are ACI Worldwide, Arbutus Software, Avast Software, AVG, DXC Technology, ESET Endpoint Security, Experian, Finserv, First Data, FIS Global, Friss, GreatHorn, Guardian Analytics, IBM, LexisNexis Risk Solutions, SAP, SAS Institute, SpyCloud, Trulioo, Verifi, and Webroot SecureAnywhere.
Major Key Points from Table of Content:
Chapter 5. Fraud Detection and Prevention Market, By Component
5.1. Key trends, by component
5.2. Solution
5.2.1. Fraud analytics
5.2.1.1. Fraud analytics market estimates and forecast, 2014-2025
5.2.2. Identity and authentication
5.2.2.1. Identity and authentication market estimates and forecast, 2014-2025
5.2.3. Governance, risk management and compliance (GRC)
5.2.3.1. GRC market estimates and forecast, 2014-2025
5.2.4. Monitoring and reporting
5.2.4.1. Monitoring and reporting market estimates and forecast, 2014-2025
5.3. Service
5.3.1. Professional service
5.3.1.1. Professional service in fraud detection and prevention market estimates and forecast, 2014-2025
5.3.2. Managed service
5.3.2.1. Managed service market estimates and forecast, 2014-2025
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/fraud-detection-and-prevention-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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