Fraud Detection and Prevention Market Global Opportunity Analysis Forecast 2028

1. The fraud detection and prevention market is projected to grow at a CAGR of 22.20%, with an estimated market size of USD 25.1 billion in 2021 to USD 83.6 billion by 2028. Increased demand from multiple end-use sectors drives the fraud detection and prevention market. The rising use of digitalization and IoT is one of the primary drivers of the market's growth. As more money is lost to fraud, there is a growing demand for equipment that can identify and prevent it. Due to other significant factors like the advancement of cloud technologies, the rise of online apps, and the expansion of mobile banking services, the market for fraud detection and prevention will grow slower. Additionally, the banking industry's increasing use of A.I. and machine learning and the rise in SME demand would increase the prospect of expanding the fraud detection and prevention market. The market will be constrained, and its growth will further be stifled by large investments in internal fraud detection solutions. Get Sample Copy of the Report @ https://marketsnresearch.com/sample/1567 Fraud Detection and Prevention Market Dynamics Drivers: Rosing demand for online applications and mobile banking services A sudden rise in the number of fraudulent websites and mobile applications has been caused by the increasing use of online applications and mobile banking services. Fake websites and online apps are becoming more prevalent in other industries, including manufacturing, retail & e-commerce, and healthcare. Customers are lured into fraudulent online purchases by these websites and programs, which closely imitate real retail stores and home delivery services. Customers in the banking industry are increasingly focusing on mobile applications for various uses, including online payments, statement reviews, filing complaints, and providing feedback, among others. During the forecast period, the rise in start-up activity, the number of internet users, and the use of digital payment methods are all anticipated to support the expansion of the global fraud detection and prevention market. Restraints: Lack of professionals & awareness across emerging economies The absence of professionals and a competent workforce to upgrade FDP solutions across emerging nations impedes market expansion. Businesses maintain all of their crucial documentation and client data on the servers. Therefore, firms must safeguard their data from money launderers. However, occasionally sophisticated cyberattacks and fresh anonymous threats are anticipated to threaten conventional FDP solutions. The lack of acceptance and responsiveness across developing nations is another market barrier to growth. View More Information : https://www.globenewswire.com/en/news- release/2022/11/08/2551116/0/en/Fraud-Detection-and-Prevention-Market-worth-83-6- billion-by-2028-Exclusive-Market-Research-Report-by-Markets-N-Research.html Opportunities: Rising demand for A.I. and machine learning in the banking sector The financial and banking sectors were early adopters of risk-prevention technologies. Due to the massive internet data exchanges, financial organizations are very vulnerable. By 2020, the number of Indians using online banking is expected to triple to 150 million, raising the danger of fraud, according to Facebook and BCG. Financial institutions are now focusing on both real-time fraud detection and financial risk mitigation. Systems for detecting fraud are

2. developing as pattern recognition becomes more prevalent. Artificial intelligence has greatly improved thanks to machine learning technology, which can protect businesses from insider fraud and identify abnormalities in people who might leak data. The popularity of FDP solutions is increasing along with the demand for A.I. and machine learning. The authentication category is estimated to be the largest growth in the steam engine market during the forecast period The authentication category dominated the market. Businesses have long used authentication systems to protect sensitive data and consumer login information. As fraud efforts in customer-facing apps get more sophisticated, businesses rely on advanced authentication solutions like voice biometrics, single-factor authentication, and multi-factor authentication. Small and medium enterprise (SMEs) is estimated to be the largest growing market category during the forecast period The small and medium enterprises (SMEs) segment is projected to grow the fastest during the forecast period. The growth is mostly attributable to the rising need for security solutions, adapted by an expanding number of start-ups in countries like Germany, Canada, Brazil and Israel, among others. Due to an increase in fraudulent activities caused by the speeding up of digital transformation across industries, it is projected that the large enterprise market will experience considerable development in the years to come. Read Comprehensive Overview of Report @ https://marketsnresearch.com/report/1567/fraud-detection-and-prevention-market Key Market Players The fraud detection and prevention market is dominated by a few global players and comprises several regional players. Some key manufacturers operating in the market are Iovation Inc. (U.S.), IBM Corporation (U.S.), CardinalCommerce Corporation (U.S.), Oracle Corporation (U.S.), Experian PLC (Ireland), PayPal Holdings Inc. (U.S.), Distil Networks Inc. (U.S.), LexisNexis Risk Solutions Company (U.S.), Accertify Inc. (U.S.) and F5 Networks Inc. (U.S.). About Us Markets N Research team is comprised of well skilled and equipped personnel ready to concur any upcoming challenges in the market sector for both individual people and organization around the world. We know time is money, and therefore we ensure we solve your problem within the shortest time possible to prevent delays or missing any opportunities. We use globally accepted techniques with a little innovation from our staff in solving all your market research related challenges. Contact: Markets N Research 1016 W Jackson Blvd, Chicago, IL 60607, United States

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