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Fraud Detection and Prevention Market by Solution, Service, Vertical, Deployment Mode, and Region - Global Forecast to 2025 - ResearchAndMarkets.com

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The "Fraud Detection and Prevention Market by Solution (Fraud Analytics, Authentication, and GRC), Service (Managed and Professional), Vertical (BFSI, Retail and eCommerce, and Travel and Transportation), Deployment Mode, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global FDP market size is expected to grow from an estimated value of USD 20.9 billion in 2020 to USD 38.2 billion by 2025, at a CAGR of 12.8% from 2020 to 2025.

The FDP market is driven by various factors, such as Increased in the adoption rate of digitalization and IoT and increase in the revenue loss due to fraud to boost the growth of FDP market across the globe during the forecast period. However, rise in complexity of frauds can hinder the growth.

Services segment to grow at a higher CAGR during the forecast period

Services for the FDP market includes professional services and managed services. The professional services include consulting services, training and education services, and support and maintenance services. FDP services give an upper hand to organizations' security. These services help organizations make robust security decisions for proactively addressing emerging fraudulent attacks. Companies, such as Nice Actimize, BAE Systems, ACI Worldwide, and FRISS, provide services to their customers. These companies proactively help in the detection and recommendation of appropriate solutions to resolve fraud and FDP cases. FDP services help collects, filter, integrate, and link multiple security events' data to provide a holistic view of the security infrastructure in organizations.

The on-premise segment to account for a higher market share during the forecast period

The on-premises deployment mode enables organizations to control all their business systems and data located in their business premises; however, it also requires them to pay for the cost of the hardware, software, and other resources used for the on-premises maintenance. On-premises solutions provide organizations full control over platforms, applications, systems, and data, which can be handled and managed by their IT staff. In organizations where user credentials are critical for business operations, the adoption of on-premises deployment mode is higher as it can control the systems from the enterprise physical or owned location.

The Asia Pacific to grow at the highest rate during the forecast period

The FDP market in the Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America accounts for the highest share of the FDP market in 2020. The factors supplementing this growth are the Organic and inorganic growth strategies among major FDP vendors and well-maintained distribution system of FDP solutions by major FDP players in North America such as Nice Actimize, FICO, LexisNexis, TransUnion, Kount, RSA Security, Fiserv and FIS.

Market Dynamics

Drivers

  • Adoption of Digitalization and IoT Increased the Adoption Rate of Fraud Detection and Prevention System

  • Increasing Revenue Loss due to Frauds

  • COVID-19 Pandemic Impact

Restraints

  • Rise in Complexity of Frauds

  • High Investment in Developing In-House Fraud Detection Solutions

  • COVID-19 Pandemic Impact

Opportunities

  • Increase in Use of AI and ML in Banking Sector to Boost Fraud Detection and Prevention Market

  • Increasing Demand for Fraud Detection and Prevention Solutions in SMEs

  • COVID-19 Pandemic Impact

Challenges

  • Unavailability of Skilled Security Professionals

  • COVID-19 Pandemic Impact

Companies Mentioned

  • Accertify

  • ACI Worldwide

  • BAE Systems

  • Capegemini SE

  • Cardinalcommerce

  • Caseware

  • Dataverify

  • Datavisor

  • Digital Resolve

  • DXC Technologies

  • Experian

  • FCase

  • Feedzai

  • Fico

  • FIS

  • Fiserv

  • Friss

  • Gurucul

  • Jumio

  • Kount

  • Lexisnexis Risk Solutions

  • Maxmind

  • NCR

  • Nice Actimize

  • RSA Security

  • Securonix

  • Software AG

  • Splunk

  • Transunion

For more information about this report visit https://www.researchandmarkets.com/r/4ynisl

View source version on businesswire.com: https://www.businesswire.com/news/home/20201027005846/en/

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