Nov 29, 2018   SOURCE: PR NewsWire

Fraud Detection and Prevention (FDP) Market Worth $63.5 Billion by 2023 - Exclusive Report by MarketsandMarkets(TM)

CHICAGO, November 29, 2018 /PRNewswire/ --

According to a new market 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(TM), the global FDP market size is 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.

(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Don't miss out on business opportunities in Fraud Detection and Prevention Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1312 [https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1312&utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

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.

Browse in-depth TOC on "Fraud Detection and Prevention Market"

116 - Tables  

58 - Figures  

219 - Pages  

Identity theft application area segment to grow at the highest CAGR from 2018 to 2023 

FDP solutions help organizations operate efficiently while saving costs, which has been the key factor for the market growth. The FDP market by application area has identity theft, payment fraud (electronic payment fraud, mobile payment fraud, and credit card or debit card frauds), money laundering, and others (including banking transactions and fund transfers) segments. The identity theft application area segment is expected to register growth at the highest CAGR in the FDP market during the forecast period. Identity theft or identity fraud is misusing a person's identity or credentials by some other person for fraudulent transactions or criminal activities. The stolen identity is used by cyber criminals for making fraudulent purchases or transactions for their personal gains.

View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/fraud-detection-prevention-market-1312.ht ml [https://www.marketsandmarkets.com/Market-Reports/fraud-detection-prevention-market-1312.html?utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

Increase in the frequency and sophistication of cyber frauds and attacks to drive the FDP market during 2018-2023 

The Fraud Detection and Prevention Market by vertical covers Banking, Financial Services, Insurance (BFSI), retail, telecommunication, government/public sector, healthcare, real estate, energy and power, manufacturing, and other verticals. Among them, the retail vertical is expected to grow at the highest CAGR from 2018 to 2023. The vertical has always been a target for fraudsters, because of several monetary transactions been carried out via VISA, MasterCard, and other payment processing networks. Moreover, it is always on the top in terms of cost-cutting, revenue margins, and the adoption of the latest technologies. With the growth in eCommerce, retailers are facing several issues, including fraudulent transactions. The banking vertical is estimated to hold the largest market size in 2018, due to the increased adoption of FDP solutions. The BFSI vertical is also a major target for cyber criminals, as it holds sensitive information of employees, customers, assets, offices, branches, and operations. Moreover, due to its amount of transactions (both monetary and data centric), number of transactions, technological advancements, and digitalization of financial sector, the possibility of frauds in the BFSI vertical is increasing significantly.

North America to dominate the global FDP market in 2018 

North America is estimated to hold the largest market size in the Fraud Detection and Prevention Market by region in 2018, as the region is a mature and well-established market with a healthy risk appetite and inclination toward technological innovations. The FDP market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2018 and 2023. Major growth factors for the APAC market include increasing technology adoption, significant opportunities across industry verticals, and strict directives for data privacy in APAC countries, especially India and China.

Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1312 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=1312&utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

The report covers different growth strategies, such as mergers and acquisitions, partnerships and collaborations, business expansions, and product developments, adopted by major players to increase their market share. Major technology vendors in the global FDP market include IBM (US), FICO (US), SAS Institute (US), BAE Systems (UK), DXC Technology (US), SAP (Germany), ACI Worldwide (US), Fiserv (US), NICE Systems (Israel), Experian (US), LexisNexis Risk solutions (US), iovation (US), Friss (Netherlands), Dell Technologies (US) , First Data (US), Wirecard (Germany), Software AG (Germany), Easy Solutions (US), Distil Networks (US), Guardian Analytics (US), Securonix (US), MaxMind (US), Kount (US), and Simility (US).

Browse Adjacent Markets @ Information Security Market Research [https://www.marketsandmarkets.com/security-market-research-115.html ] Reports & Consulting

About MarketsandMarkets(TM)  

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. 

            Contact: 
        Mr. Shelly Singh 
        MarketsandMarkets(TM) INC. 
        630 Dundee Road 
        Suite 430 
        Northbrook, IL 60062 
        USA: +1-888-600-6441 
        Email: sales@marketsandmarkets.com

 

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/fraud-detection-prevention-market.asp

Visit Our Website: https://www.marketsandmarkets.com 


    Photo: 
    https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets