Fraud Detection and Prevention (FDP) Market

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

Report Code: TC 2879 Nov, 2018, by marketsandmarkets.com

[219 Pages Report] MarketsandMarkets forecasts the Fraud Detection and Prevention Market to grow from USD 3.4 billion in 2018 to USD 63.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 26.7% during the forecast period. The major factors that are expected to be driving the FDP market are increasing revenue losses for organizations due to the rising fraudulent attacks, increasing use of electronic transactions across all the verticals and increasing sophistication level of cyber-attacks across all regions will contribute to the growth of the overall FDP market. The objective of the report is to define, describe, and forecast the FDP market size based on component (solution and service), application area, deployment type, organization size, vertical, and region.

MarketsandMarkets forecasts the Fraud Detection and Prevention (FDP) market size to grow from USD 3.4 billion in 2018 to USD 63.5 billion million by 2023, at a Compound Annual Growth Rate (CAGR) of 26.7% during 2018–2023.   

Attractive Opportunities in the Fraud Detection and Prevention Market

Fraud Detection and Prevention Market

See how this study impacted revenues for other players in Fraud Detection and Prevention (FDP) Market

Client’s Problem Statement

One of the leading players in the fraud detection and prevention market wanted information about the opportunities in the Asia Pacific since the company was planning to expand its presence in the region. Being one of the leading players, the company wanted information about the adoption of various solutions in the Asia Pacific region. The client also wanted to understand the vendor landscape in the Asia Pacific region before entering the market.

MnM Approach

MnM was engaged to conduct a study with the below-mentioned multiple objectives, which were achieved to the satisfaction of the client.
• Based on the strength of product portfolio, investments, and growth strategies, the benchmarking of key vendors in the Asia Pacific market was provided to the client for a better understanding of the competition
• The vendor landscape covering organic and inorganic strategies, market-related developments, and fraud detection and prevention related offerings were identified and analyzed in the Asia Pacific region to ascertain the role of technology vendors and utilities in the ecosystem
• Market sizing and forecast across various industry verticals such as government, BFSI, telecommunication, healthcare, manufacturing, and real estate for the Asia Pacific region was provided to the client

Revenue Impact (RI)

Our analysis helped the client target opportunities worth USD 100 million in the said geography.

Consult our Analyst now

Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

By solution, the fraud analytics segment is expected to grow at the highest CAGR during the forecast period

The fraud analytics segment is expected to grow at the highest CAGR in the Fraud Detection and Prevention Market during the forecast period. Fraud analytics is a critical discipline which involves set of analytical techniques to analyze enterprises’ systems and database to identify the vulnerabilities where fraud can happen. They help in monitoring and analyzing data from several data sources; detect anomalies, and suspicious and unusual behavior across all channels.  They also proactively detect frauds and enable robust information security to improve compliance. The growing adoption of technologies such as AI and machine learning for fraud detection could spur the demand for fraud analytics solutions on a large scale.

By vertical type, the banking to account for the largest market size in the Fraud Detection and Prevention Market during the forecast period

The BFSI vertical is also a major target for cyber criminals who wants to commit frauds 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 this vertical is increasing significantly. Hence, organizations in this vertical are increasing the adoption of FDP solutions on a large scale to avert any kind of fraudulent attacks.

Fraud Detection and Prevention Market

Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

Fraud Detection and Prevention Market

Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

North America to hold the largest market size during the forecast period

North America is estimated to account for the largest market size in the Fraud Detection and Prevention Market by region. Rising revenue losses due to fraudulent attacks on organizations, early adoption of digital technologies including AI, IoT and machine learning for fraud detection and the emergence of several FDP solution providers could contribute to the market growth in North America. With the huge penetration of smartphones along with growing demand for ecommerce transactions organizations are adopting FDP solutions to protect their organizational data against any frauds in this region. Strong vendor presence through technology acquisitions, alliances, and partnerships with system integrators, distributors, and resellers would further contribute to the overall market growth in North America. The demand for FDP solutions is growing in Europe, due to the rise in network crimes, and frauds and advanced cyber and bot attacks. The European FDP industry is witnessing significant growth opportunities due to the major players focusing on expanding their presence in various verticals, such as BFSI, telecommunication, retail, government/public sector, and manufacturing. With the technological advancement in APAC, several factors are expected to drive the impressive growth of the region. The factors include rapid economic development, globalization, cloud-based solutions, and massive penetration of smartphones and internet across consumers and business segments.

Fraud Detection and Prevention Market Dynamics

Fraud Detection and Prevention Market

Growing Use of electronic transactions

Online businesses rely mainly on electronic transactions for their products and services offered. Along with the increase in the number of customers shopping online, fraudulent activities have also been on the rise. Frauds such as identity theft, merchant and triangulation frauds, affiliate and clean frauds, phishing, pagejacking, and counterattacks occur during online transactions. FDP is an important issue for eCommerce businesses; customers need assurance that their sensitive data is safe and that their debit or credit card details cannot be stolen. As a result, organizations are adopting FDP solutions to meet their need for security, which is expected to be a key growth driver of the Fraud Detection and Prevention Market.

Unavailability of skilled security professionals to deal with fraudulent activities

The biggest challenge organizations are facing today is the lack of skilled professional to deal with fraudulent activities, which is hampering the organizations’ ability to meet their evolving IT security needs. Many organizations hire security professionals who lack the right skill to analyze and identify advanced frauds while under a cyber-attack. Moreover, absence of clear lines of authority and the inability of the inexperienced staff to perform independent check/audits are adding to the problems. Organizations are finding it difficult to hire professional and experienced staff for handling their system security in the event of any fraud and this is becoming a big restraint in the Fraud Detection and Prevention Market.

Applying AI and ML for FDP

AI and ML are revolutionizing various businesses and industries. The ability of AI and ML will drastically reduce workforce costs, help in discovering new patterns, and create predictive models from raw data. The technologies enable real-time automated decisions for detecting fraudulent activities. AI and ML help data scientists to determine the transactions, which are most likely to be fraudulent. These technologies automatically discover the patterns across large volumes of streaming transactions.

Huge cost associated with deploying FDP solutions

Organizations across the world are progressively considering security solutions that can enhance their business productivity. However, FDP solutions have a high cost attached to them, thus creating hesitation among enterprises in adopting them. Fraudulent activities need to be actively monitored, as the number of fraud incidents is increasing at an alarming rate. The deployment of FDP solutions is expensive as well as time-consuming, as they need to be monitored and modified according to the requirement of the users.

Scope of the Fraud Detection and Prevention Market Report

Report Metrics

Details

Market size available for years

2017–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Billion (USD)

Segments covered

Component (Solution & Services), Application Area ((Identity Theft, Payment Frauds, and Money Laundering), Deployment Mode, Organization Size, Vertical, and Region

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

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).

The research report categorizes the FDP to forecast the revenues and analyze the trends in each of the following sub-segments:

Fraud Detection and Prevention Market


Fraud Detection and Prevention Market By Component

  • Solution
  • Services

Market By Solution

  • Fraud Analytics
  • Authentication
  • GRC Solutions
  • Others (account management and fraud investigation)

Fraud Detection and Prevention Market By Fraud analytics

  • Predictive Analytics
  • Descriptive Analytics
  • Social Media Analytics
  • Big Data Analytics

Market By Authentication

  • Single Factor Authentication (SFA)
  • Multi Factor Authentication (MFA)
  • Risk Based Authentication (RBA)

Market By Services

  • Professional Services
  • Managed Services

Market By Professional services

  • Consulting
  • Training and Education
  • Support and Maintenance

Market By Application area

  • Identity Theft
  • Payment Frauds
  • Money Laundering
  • Others (banking transactions and fund transfers)

Market By Payment frauds

  • Electronic Payment Fraud
  • Mobile Payment Fraud
  • Credit and Debit Card Fraud

Market By Deployment mode

  • Cloud
  • On-premises

Fraud Detection and Prevention Market By Organization size

  • SMEs
  • Large Enterprises

Market By Vertical

  • BFSI
  • Retail
  • Telecommunication
  • Government/Public Sector
  • Healthcare
  • Real Estate
  • Energy and Power
  • Manufacturing
  •  Others (travel and transportation, media and entertainment, and life sciences)

Fraud Detection and Prevention Market By Region

  • North America
    • United States (US)
    • Canada
  • Europe
    • United Kingdom (UK)
    • Germany
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of APAC
  • Middle East and Africa (MEA)
    • Middle East
    • Africa
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America

Key Market Players

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) 

FICO, a leading provider of financial services, was founded in 1956 and is headquartered in California, US. The company operates through 3 business segments, namely, applications, scores, and decision management software. FICO has an exhaustive product portfolio that includes solutions for analytics, debt management, fraud and security marketing, customer engagement, and communication services. FICO operates through its flagship products, FICO Falcon Platform and FICO Falcon Fraud Manager to discover new fraud patterns. These products offer real-time protection to enterprises and can be deployed on-premises and on cloud. They include modules such as authentication, prepaid, mobile payments, debit, ePayments, and credit. FICO products also help increase customer value and reduce frauds, credit losses, and operating expenses. FICO has a huge clientele in the US and the company generates 64% of its revenue from this country alone.

Recent Developments

  • In October 2019, Kount launched a new fraud prevention solution to differentiate between criminal fraud, friendly fraud, and legitimate disputes to improve business outputs and increase revenue.
  • In August 2019, NICE partnered with Jumio, a global leader in AI-powered identity verification. Jumio joined NICE’s X-Sight Marketplace ecosystem, to assist financial services organizations in evaluating new point solutions and move to stay on top of a challenging regulatory and criminal environment.
  • In June 2019, BAE Systems partnered with Arachnys, a leading provider of in CRI solutions, to address AML and compliance obligations and to deliver accurate and efficient fraud detection and prevention solution.
  • In January 2019, NICE unveiled the IFM-X Integrated Fraud Management (IFM) platform that leverages automation and ML technologies to minimize fraud and money-laundering attacks and to reduce the total cost of system implementation.
  • In October 2018, BAE Systems and Mphasis formed a partnership to protect organizations from evolving fraudulent activities by providing solutions with capabilities for fraud and money laundering detection to the financial institutions.
  • In September 2018, The company unveiled its identity authentication and verification solutions, InstantID, that helps verify a customer’s personal information.
  • In July 2018, FRISS partnered with Rabobank to provide solutions to P&C insurance industry to minimize fraudulent activities.
  • In April 2018, FICO upgraded its antifraud solution to help banks, lenders, FinTechs, and other institutions fight financial crime.

Critical questions the report answers:

  • Where will all these developments take the industry in the long term?
  • What are the upcoming trends for the Fraud Detection and Prevention Market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Segmentation
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Assumptions for the Study
           2.3.1 Research Limitations

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities in the Fraud Detection and Prevention Market
    4.2 Global Market, By Country, 2018
    4.3 FDP Market, By Solution, 2018
    4.4 Market Investment Scenario

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Revenue Losses Due to Frauds
                    5.2.1.2 Increase in the Frequency and Sophistication of Cyber Frauds and Attacks
                    5.2.1.3 Growing Use of Electronic Transactions
           5.2.2 Restraints
                    5.2.2.1 Unavailability of Skilled Security Professionals to Deal With Fraudulent Activities
                    5.2.2.2 Lack of Integration Capabilities
           5.2.3 Opportunities
                    5.2.3.1 Rise in the Use of Digital Technologies and Digital Banking for Payments
                    5.2.3.2 Applying AI and ML for FDP
           5.2.4 Challenges
                    5.2.4.1 Increasing Difficulty in Detecting Fraudulent Activities at an Early Stage
                    5.2.4.2 Huge Cost Associated With Deploying FDP Solutions
    5.3 Industry Trends
           5.3.1 Use Case #1: Dataiku and Santeclair
           5.3.2 Use Case #2: Threatmetrix and Kabbage
           5.3.3 Use Case #3: Lexisnexis and Safe Federal Credit Union (Safe FCU)
           5.3.4 Use Case #4: Bae Systems and Insurance Fraud Bureau (IFB)
           5.3.5 Use Case #5: ACI Worldwide and Canadian Banks
           5.3.6 Use Case #6: Experian and Orange (Telecom Company)
           5.3.7 Use Case #7: Kount and Bodybuilding.Com
    5.4 Innovation Spotlight
           5.4.1 Latest FDP Innovations

6 Fraud Detection and Prevention Market, By Component (Page No. - 48)
    6.1 Introduction
    6.2 Solutions
           6.2.1 Increasing Fraudulent Acivities to Drive the Adoption of Fraud Detection and Prevention Solutions
    6.3 Services
           6.3.1 Adoption of Services Driven By Organizations’ Need to Deploy Fraud Detection and Prevention Solutions

7 Fraud Detection and Prevention Market, By Solution (Page No. - 53)
    7.1 Introduction
    7.2 Fraud Analytics
           7.2.1 Predictive Analytics
                    7.2.1.1 Predictive Analytics Solutions Help Identify Potential Threats, Payment Frauds, Frauds in Insurance Processes, and Credit/Debit Card Frauds
           7.2.2 Descriptive Analytics
                    7.2.2.1 Descriptive Analytics Involves Interpretation of Historical Data to Yield Useful Information
           7.2.3 Social Media Analytics
                    7.2.3.1 Social Media Analytics Tools Help Identify Suspicious Patterns Through Specialized Algorithms for Effective Fraud Detection and Prevention
           7.2.4 Big Data Analytics
                    7.2.4.1 Need for Advanced Analytical Solution That Proactively Defends Against Fraudulent Activities to Drive the Adoption of Big Data Analytics Solutions
    7.3 Authentication
           7.3.1 Single-Factor Authentication
                    7.3.1.1 Need for Simple and Less Complex Form of Authentication Solution to Boost the Growth of SFA
           7.3.2 Multi-Factor Authentication
                    7.3.2.1 The Demand for Mfa to Secure the Data and Information Against Frauds to Provide Massive Opportunities to Mfa Solution Providers
           7.3.3 Risk-Based Authentication
                    7.3.3.1 Need to Analyze Risk Levels and Apply Stringent Authentication Processes to Boost the Growth of Rba Solutions
    7.4 Governance, Risk, and Compliance
           7.4.1 Enterprises Widely Adopting Governance, Risk, and Compliance Solutions to Ensure the Fraud Management Systems are Up-To-Date
    7.5 Others

8 Fraud Detection and Prevention Market, By Service (Page No. - 66)
    8.1 Introduction
    8.2 Professional Services
           8.2.1 Consulting Services
                    8.2.1.1 Consulting Services Help Optimize Organizations’ Ability to Consume, Analyze, and Apply FDP Solutions to Protect Their Assets
           8.2.2 Training and Education
                    8.2.2.1 Lack of Skilled Security Professionals Driving the Adoption of Training and Education Services
           8.2.3 Support and Maintenance
                    8.2.3.1 Support and Maintenance Service Providers Help Enterprises in Providing Installation, Maintenance, and Other Support Activities
    8.3 Managed Services
           8.3.1 Managed Services Gaining Popularity as They Help Organizations Meet the Compliance Needs

9 Fraud Detection and Prevention Market, By Application Area (Page No. - 73)
    9.1 Introduction
    9.2 Identity Theft
           9.2.1 Fraud Detection and Prevention Solutions Actively Implemented By Enterprises to Prevent Theft of Identities for Financial Crime
    9.3 Payment Fraud
           9.3.1 Electronic Payment Fraud
                    9.3.1.1 Growing Popularity of Online Money Transactions, Electronic Payment Frauds has Become A Serious Issue
           9.3.2 Mobile Payment Fraud
                    9.3.2.1 Adoption of Digital Payment Modes Acting as A Major Driving Factor for the Mobile Payment Fraud Solutions
           9.3.3 Credit and Debit Card Fraud
                    9.3.3.1 Increasing Credit and Debit Card Transactions and Growing Fraudulent Activities in This Segment to Drive the Adoption of FDP Solutions
    9.4 Money Laundering
           9.4.1 to Prevent Money Laundering, Governments Across the World are Adopting New Laws and Regulations
    9.5 Others

10 Market By Deployment Mode (Page No. - 82)
     10.1 Introduction
     10.2 Cloud
             10.2.1 Organizations to Avoid Costs Related to Hardware, Software, Storage, and Technical Staff By Using Cloud-Based Fraud Detection and Prevention Solutions
     10.3 On-Premises
             10.3.1 Need to Secure the In-House Applications, Platforms, and Systems Against Operational Frauds to Fuel the Demand for On-Premises FDP Solutions

11 Fraud Detection and Prevention Market, By Organization Size (Page No. - 87)
     11.1 Introduction
     11.2 Small and Medium-Sized Enterprises
             11.2.1 Growing Fraudulent Activities in Small and Medium-Sized Enterprises Encouraging Them to Deploy Fraud Detection and Prevention Solutions
     11.3 Large Enterprises
             11.3.1 Rise of Financial Losses and Hefty Fines for Regulatory Incompliance to Boost the Adoption of Fraud Detection and Prevention Solutions Among Large Enterprises

12 Fraud Detection and Prevention Market, By Vertical (Page No. - 92)
     12.1 Introduction
     12.2 Banking, Financial Services, and Insurance
             12.2.1 Growing Threat to Monetary Transactions Encourages Organizations to Deploy Fraud Detection and Prevention Solutions
     12.3 Retail
             12.3.1 Rising Demand for Ecommerce Transactions and Increasing Fraudulent Transactions to Boost the Growth of the Retail Vertical
     12.4 Telecommunication
             12.4.1 Huge Amount of Confidential Data of Customers Encourages the Organizations to Implement Fraud Detection and Prevention Solutions for Averting Any Frauds
     12.5 Government/Public Sector
             12.5.1 Increase in Bribery, Corruption and Data Theft Enables the Government Institutions to Impart Fraud Detection and Prevention Solutions on A Large Scale
     12.6 Healthcare
             12.6.1 Threat Over Sensitive Information of Patients, Doctors, and Hospital History to Contribute to the Growth of Fraud Detection and Prevention Solutions in the Healthcare Vertical
     12.7 Real Estate
             12.7.1 Growing Rental Frauds, Identity Thefts, and Mortgage Frauds to Spur the Demand of Fraud Detection and Prevention Solutions in the Real Estate Vertical
     12.8 Energy and Power
             12.8.1 Frauds Over Billing and Loading, Tax and Supply to Fuel the Demand for Fraud Detection and Prevention Solutions in the Energy and Power Vertical
     12.9 Manufacturing
             12.9.1 Increasing Check Tampering, Money Laundering, and Asset Misappropriation Frauds to Increase the Adoption of Fraud Detection and Prevention Solutions in the Manufacturing Vertical
     12.10 Others

13 Fraud Detection and Prevention Market, By Region (Page No. - 103)
     13.1 Introduction
     13.2 North America
             13.2.1 United States
                        13.2.1.1 Increasing Investments in FDP Solutions By Various Verticals to Prevent Frauds Will Drive the Overall Growth of the Market
             13.2.2 Canada
                        13.2.2.1 Government Initiatives to Safeguard Network Systems Against Frauds Will Boost the Growth of FDP Market in Canada
     13.3 Europe
             13.3.1 United Kingdom
                        13.3.1.1 Growing Trend of Byod and Increased Use of Applications in Enterprises and Threat to Organizational Data Will Drive the Growth of FDP Market in United Kingdom
             13.3.2 Germany
                        13.3.2.1 Rising Use of Online Transactions and Threat to Confidential Information Will Enhance the FDP Market Growth in Germany
             13.3.3 Rest of Europe
     13.4 Asia Pacific
             13.4.1 China
                        13.4.1.1 Increasing Need to Secure APIS, Mobile Apps and Websites From Fraudsters Will Contribute to the Growth of FDP Market in China
             13.4.2 Japan
                        13.4.2.1 Rise in the Number of Potential Frauds Due to High Internet Penetration Will Fuel the Growth of FDP Market in Japan
             13.4.3 India
                        13.4.3.1 Growing Adoption of FDP Solutions Due to Rise of Mobile Applications Use, Digitalization of Various Services and Rise in Fraud Attacks Will Make the 0rganizations to Adopt FDP Solutions on A Large Scale
             13.4.4 Rest of Asia Pacific
     13.5 Middle East and Africa
             13.5.1 Middle East
                        13.5.1.1 Increasing Frauds Across Energy and Power and BFSI Vertical Will Drive the FDP Market Growth in Middle East
             13.5.2 Africa
                        13.5.2.1 Hefty Financial Losses Due to Fraudulent Attacks Across the Organizations Will Contribute to the Growth of FDP Market in Africa
     13.6 Latin America
             13.6.1 Brazil
                        13.6.1.1 Increasing Investments By SMEs and Large Enterprises Due to Growing Frauds Across Endpoints, Networks, and Applications Will Drive FDP Market Growth in Brazil
             13.6.2 Mexico
                        13.6.2.1 Increasing Fraud Attacks on BFSI, Healthcare, Manufacturing, and Retail Verticals Will Drive FDP Market Growth in Mexico
             13.6.3 Rest of Latin America

14 Competitive Landscape (Page No. - 151)
     14.1 Overview
     14.2 Competitive Scenario
             14.2.1 Partnerships, Agreements, and Collaborations
             14.2.2 New Product Launches/Product Enhancements
             14.2.3 Mergers and Acquisitions
             14.2.4 Business Expansions

15 Company Profiles (Page No. - 156)
     15.1 Fico
             15.1.1 Business Overview
             15.1.2 Products and Services Offered
             15.1.3 Recent Developments
             15.1.4 SWOT Analysis
             15.1.5 MnM View
     15.2 IBM
             15.2.1 Business Overview
             15.2.2 Solutions and Services Offered
             15.2.3 Recent Developments
             15.2.4 SWOT Analysis
             15.2.5 MnM View
     15.3 Fiserv
             15.3.1 Business Overview
             15.3.2 Solutions and Services Offered
             15.3.3 Recent Developments
             15.3.4 SWOT Analysis
             15.3.5 MnM View
     15.4 FIS Global
             15.4.1 Business Overview
             15.4.2 Solutions and Services Offered
             15.4.3 Recent Developments
             15.4.4 SWOT Analysis
             15.4.5 MnM View
     15.5 ACI Worldwide
             15.5.1 Business Overview
             15.5.2 Solutions and Services Offered
             15.5.3 Recent Developments
             15.5.4 SWOT Analysis
             15.5.5 MnM View
     15.6 Bae Systems
             15.6.1 Business Overview
             15.6.2 Solutions and Services Offered
             15.6.3 Recent Developments
             15.6.4 MnM View
     15.7 Experian
             15.7.1 Business Overview
             15.7.2 Solutions and Services Offered
             15.7.3 Recent Developments
             15.7.4 MnM View
     15.8 Lexisnexis Risk Solutions
             15.8.1 Business Overview
             15.8.2 Solutions and Services Offered
             15.8.3 Recent Developments
             15.8.4 MnM View
     15.9 Iovation
             15.9.1 Business Overview
             15.9.2 Solutions and Services Offered
             15.9.3 Recent Developments
             15.9.4 MnM View
     15.1 Friss
             15.10.1 Business Overview
             15.10.2 Solutions and Services Offered
             15.10.3 Recent Developments
             15.10.4 MnM View
     15.11 Nice
             15.11.1 Business Overview
             15.11.2 Solutions and Services Offered
             15.11.3 Recent Developments
             15.11.4 MnM View
     15.12 DXC Technology
             15.12.1 Business Overview
             15.12.2 Solutions Offered
             15.12.3 Recent Developments
     15.13 Dell Technologies
             15.13.1 Business Overview
             15.13.2 Solution and Services Offered
             15.13.3 Recent Developments
     15.14 SAS Institute
             15.14.1 Business Overview
             15.14.2 Solutions Offered
             15.14.3 Recent Developments
     15.15 SAP
             15.15.1 Business Overview
             15.15.2 Solutions and Services Offered
             15.15.3 Recent Developments
     15.16 First Data
             15.16.1 Business Overview
             15.16.2 Solutions Offered
     15.17 Wirecard
             15.17.1 Business Overview
             15.17.2 Solutions Offered
     15.18 Software AG
             15.18.1 Business Overview
             15.18.2 Solutions Offered
     15.19 Easy Solutions
             15.19.1 Business Overview
             15.19.2 Solutions and Services Offered
     15.20 Distil Networks
             15.20.1 Business Overview
             15.20.2 Solutions Offered
     15.21 Guardian Analytics
             15.21.1 Business Overview
             15.21.2 Solutions and Services Offered
     15.22 Kount
             15.22.1 Business Overview
             15.22.2 Solutions and Services Offered
     15.23 Securonix
             15.23.1 Business Overview
     15.24 Maxmind
             15.24.1 Business Overview
     15.25 Simility
             15.25.1 Business Overview

16 Appendix (Page No. - 211)
     16.1 Discussion Guide
     16.2 Knowledge Store: MarketsandMarkets’ Subscription Portal
     16.3 Introducing RT: Real-Time Market Intelligence
     16.4 Available Customizations
     16.5 Related Reports
     16.6 Author Details


List of Tables (116 Tables)

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Global Fraud Detection and Prevention Market Size and Growth Rate, 2016–2023 (USD Billion, Y-O-Y %)
Table 3 Market Size, By Component, 2016–2023 (USD Billion)
Table 4 Solutions: Market Size, By Region, 2016–2023 (USD Billion)
Table 5 Services: Market Size, By Region, 2016–2023 (USD Billion)
Table 6 Fraud Detection and Prevention Market Size, By Solution, 2016–2023 (USD Billion)
Table 7 Fraud Analytics: Market Size, By Type, 2016–2023 (USD Billion)
Table 8 Fraud Analytics: Market Size, By Region, 2016–2023 (USD Billion)
Table 9 Predictive Analytics: Market Size, By Region, 2016–2023 (USD Billion)
Table 10 Descriptive Analytics: Market Size, By Region, 2016–2023 (USD Billion)
Table 11 Social Media Analytics: Market Size, By Region, 2016–2023 (USD Billion)
Table 12 Big Data Analytics: Market Size, By Region, 2016–2023 (USD Billion)
Table 13 Authentication: Fraud Detection and Prevention Market Size, By Region, 2016–2023 (USD Billion)
Table 14 Authentication: Market Size, By Region, 2016–2023 (USD Billion)
Table 15 Single-Factor Authentication: Market Size, By Region, 2016–2023 (USD Billion)
Table 16 Multi-Factor Authentication: Market Size, By Region, 2016–2023 (USD Billion)
Table 17 Risk-Based Authentication: Market Size, By Region, 2016–2023 (USD Billion)
Table 18 Governance, Risk, and Compliance: Market Size, By Region, 2016–2023 (USD Billion)
Table 19 Others: Market Size, By Region, 2016–2023 (USD Billion)
Table 20 Fraud Detection and Prevention Market Size, By Service, 2016–2023 (USD Billion)
Table 21 Professional Services: Fraud Detection and Prevention Market Size, By Type, 2016–2023 (USD Billion)
Table 22 Professional Services: Market Size, By Region, 2016–2023 (USD Billion)
Table 23 Consulting Services: Market Size, By Region, 2016–2023 (USD Billion)
Table 24 Training and Education: Market Size, By Region, 2016–2023 (USD Billion)
Table 25 Support and Maintenance: Market Size, By Region, 2016–2023 (USD Billion)
Table 26 Managed Services: Market Size, By Region, 2016–2023 (USD Billion)
Table 27 Fraud Detection and Prevention Market Size, By Application Area, 2016–2023 (USD Billion)
Table 28 Identity Theft: Market Size, By Region, 2016–2023 (USD Billion)
Table 29 Payment Fraud: Market Size, By Type, 2016–2023 (USD Billion)
Table 30 Payment Fraud: Market Size, By Region, 2016–2023 (USD Billion)
Table 31 Electronic Payment Fraud: Market Size, By Region, 2016–2023 (USD Billion)
Table 32 Mobile Payment Fraud: Market Size, By Region, 2017–2023 (USD Billion)
Table 33 Credit and Debit Card Fraud: Market Size, By Region, 2016–2023 (USD Billion)
Table 34 Money Laundering: Market Size, By Region, 2016–2023 (USD Billion)
Table 35 Others: Market Size, By Region, 2016–2023 (USD Billion)
Table 36 Fraud Detection and Prevention Market Size, By Deployment Mode, 2016–2023 (USD Billion)
Table 37 Cloud: Market Size, By Region, 2016–2023 (USD Billion)
Table 38 On-Premises: Market Size, By Region, 2016–2023 (USD Billion)
Table 39 Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 40 Small and Medium-Sized Enterprises: Market Size, By Region, 2016–2023 (USD Billion)
Table 41 Large Enterprises: Market Size, By Region, 2016–2023 (USD Billion)
Table 42 Fraud Detection and Prevention Market Size, By Vertical, 2016–2023 (USD Billion)
Table 43 Banking, Financial Services, and Insurance: Market Size, By Region, 2016–2023 (USD Billion)
Table 44 Retail: Market Size, By Region, 2016–2023 (USD Billion)
Table 45 Telecommunication: Market Size, By Region, 2016–2023 (USD Billion)
Table 46 Government/Public Sector: Market Size, By Region, 2016–2023 (USD Billion)
Table 47 Healthcare: Market Size, By Region, 2016–2023 (USD Billion)
Table 48 Real Estate: Market Size, By Region, 2016–2023 (USD Billion)
Table 49 Energy and Power: Market Size, By Region, 2016–2023 (USD Billion)
Table 50 Manufacturing: Market Size, By Region, 2016–2023 (USD Billion)
Table 51 Others: Market Size, By Region, 2016–2023 (USD Billion)
Table 52 Fraud Detection and Prevention Market Size, By Region, 2016–2023 (USD Billion)
Table 53 North America: Market Size, By Component, 2016–2023 (USD Billion)
Table 54 North America: Market Size, By Solution, 2016–2023 (USD Billion)
Table 55 North America: Market Size, By Fraud Analytics, 2016–2023 (USD Billion)
Table 56 North America: Market Size, By Authentication, 2016–2023 (USD Billion)
Table 57 North America: Market Size, By Service, 2016–2023 (USD Million)
Table 58 North America: Market Size, By Professional Service, 2016–2023 (USD Billion)
Table 59 North America: Market Size, By Application Area, 2016–2023 (USD Billion)
Table 60 North America: Market Size, By Payment Fraud, 2016–2023 (USD Billion)
Table 61 North America: Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 62 North America: Market Size, By Organization Size, 2016–2023 (USD Million)
Table 63 North America: Market Size, By Vertical, 2016–2023 (USD Million)
Table 64 North America: Market Size, By Country, 2016–2023 (USD Billion)
Table 65 Europe: Fraud Detection and Prevention Market Size, By Component, 2016–2023 (USD Billion)
Table 66 Europe: Market Size, By Solution, 2016–2023 (USD Billion)
Table 67 Europe: Market Size, By Fraud Analytics, 2016–2023 (USD Billion)
Table 68 Europe: Market Size, By Authentication, 2016–2023 (USD Billion)
Table 69 Europe: Market Size, By Service, 2016–2023 (USD Billion)
Table 70 Europe: Market Size, By Professional Service, 2016–2023 (USD Billion)
Table 71 Europe: Market Size, By Application Area, 2016–2023 (USD Billion)
Table 72 Europe: Market Size, By Payment Fraud, 2016–2023 (USD Billion)
Table 73 Europe: Market Size, By Deployment Mode, 2016–2023 (USD Billion)
Table 74 Europe: Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 75 Europe: Market Size, By Vertical, 2016–2023 (USD Billion)
Table 76 Europe: Market Size, By Country, 2016–2023 (USD Billion)
Table 77 Asia Pacific: Fraud Detection and Prevention Market Size, By Component, 2016–2023 (USD Billion)
Table 78 Asia Pacific: Market Size, By Solution, 2016–2023 (USD Billion)
Table 79 Asia Pacific: Market Size, By Fraud Analytics, 2016–2023 (USD Billion)
Table 80 Asia Pacific: Market Size, By Authentication, 2016–2023 (USD Billion)
Table 81 Asia Pacific: Market Size, By Service, 2016–2023 (USD Billion)
Table 82 Asia Pacific: Market Size, By Professional Service, 2016–2023 (USD Billion)
Table 83 Asia Pacific: Market Size, By Application Area, 2016–2023 (USD Billion)
Table 84 Asia Pacific: Market Size, By Payment Fraud, 2016–2023 (USD Billion)
Table 85 Asia Pacific: Market Size, By Deployment Mode, 2016–2023 (USD Billion)
Table 86 Asia Pacific: Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 87 Asia Pacific: Market Size, By Vertical, 2016–2023 (USD Billion)
Table 88 Asia Pacific: Market Size, By Country, 2016–2023 (USD Billion)
Table 89 Middle East and Africa: Fraud Detection and Prevention Market Size, By Component, 2016–2023 (USD Billion)
Table 90 Middle East and Africa: Market Size, By Solution, 2016–2023 (USD Billion)
Table 91 Middle East and Africa: Market Size, By Fraud Analytics, 2016–2023 (USD Billion)
Table 92 Middle East and Africa: Market Size, By Authentication, 2016–2023 (USD Billion)
Table 93 Middle East and Africa: Market Size, By Service, 2016–2023 (USD Billion)
Table 94 Middle East and Africa: Market Size, By Professional Service, 2016–2023 (USD Billion)
Table 95 Middle East and Africa: Market Size, By Application Area, 2016–2023 (USD Billion)
Table 96 Middle East and Africa: Market Size, By Payment Fraud, 2016–2023 (USD Billion)
Table 97 Middle East and Africa: Market Size, By Deployment Mode, 2016–2023 (USD Billion)
Table 98 Middle East and Africa: Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 99 Middle East and Africa: Market Size, By Vertical, 2016–2023 (USD Billion)
Table 100 Middle East and Africa: Market Size, By Country, 2016–2023 (USD Billion)
Table 101 Latin America: Fraud Detection and Prevention Market Size, By Component, 2016–2023 (USD Billion)
Table 102 Latin America: Market Size, By Solution, 2016–2023 (USD Billion)
Table 103 Latin America: Market Size, By Fraud Analytics, 2016–2023 (USD Billion)
Table 104 Latin America: Market Size, By Authentication, 2016–2023 (USD Billion)
Table 105 Latin America: Market Size, By Service, 2016–2023 (USD Billion)
Table 106 Latin America: Market Size, By Professional Service, 2016–2023 (USD Billion)
Table 107 Latin America: Market Size, By Application Area, 2016–2023 (USD Billion)
Table 108 Latin America: Market Size, By Payment Fraud, 2016–2023 (USD Billion)
Table 109 Latin America: Market Size, By Deployment Mode, 2016–2023 (USD Billion)
Table 110 Latin America: Market Size, By Organization Size, 2016–2023 (USD Billion)
Table 111 Latin America: Market Size, By Vertical, 2016–2023 (USD Billion)
Table 112 Latin America: Fraud Detection and Prevention Market Size, By Country, 2016–2023 (USD Billion)
Table 113 Partnerships, Agreements, and Collaborations, 2017–2018
Table 114 New Product Launches/Product Enhancements, 2016–2018
Table 115 Mergers and Acquisitions, 2016–2018
Table 116 Business Expansions, 2017–2018


List of Figures (58 Figures)

Figure 1 Fraud Detection and Prevention Market: Research Design
Figure 2 Market Breakdown and Data Triangulation
Figure 3 Market: Bottom-Up Approach
Figure 4 Market: Top-Down Approach
Figure 5 Market By Component, 2018–2023
Figure 6 Market By Solution, 2018–2023
Figure 7 Market By Deployment Mode, 2018–2023
Figure 8 Market By Organization Size, 2018–2023
Figure 9 Global Fraud Detection and Prevention Market Share: North America to Account for the Highest Market Share in 2018
Figure 10 Global Market, By Vertical: Retail Segment to Grow at the Highest Rate During the Forecast Period
Figure 11 Fastest-Growing Segments of the Market, in 2018
Figure 12 Rising Fraudulent Activities and Increased Loss of Reputation and Revenue Among Organizations to Drive the Market Growth
Figure 13 India is to Grow at the Highest CAGR During the Forecast Period
Figure 14 Identity Theft Segment to Account for the Highest Market Share in 2018
Figure 15 Asia Pacific to Emerge as the Best Market for Investment in the Next 5 Years
Figure 16 Drivers, Restraints, Opportunities, and Challenges: Fraud Detection and Prevention Market
Figure 17 Number of Data Breaches Exposed, 2010–2017
Figure 18 Value of Ecommerce Sales, 2014–20121
Figure 19 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 20 Fraud Analytics Segment to Record the Highest CAGR During the Forecast Period
Figure 21 Managed Services Segment to Record A Higher CAGR During the Forecast Period
Figure 22 Identity Theft Segment to Record A Higher CAGR During the Forecast Period
Figure 23 Cloud Deployment Mode to Record A Higher CAGR During the Forecast Period
Figure 24 Small and Medium-Sized Enterprises Segment to Record A Higher CAGR During the Forecast Period
Figure 25 Retail Vertical to Record A Higher CAGR During the Forecast Period
Figure 26 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 27 North America: Market Snapshot
Figure 28 Asia Pacific: Market Snapshot
Figure 29 Key Developments By the Leading Players in the Fraud Detection and Prevention Market for 2016–2018
Figure 30 Key Market Evaluation Framework
Figure 31 Fico: Company Snapshot
Figure 32 Fico: SWOT Analysis
Figure 33 IBM: Company Snapshot
Figure 34 IBM: SWOT Analysis
Figure 35 Fiserv: Company Snapshot
Figure 36 Fiserv: SWOT Analysis
Figure 37 FIS Global: Company Snapshot
Figure 38 SWOT Analysis: FIS Global
Figure 39 ACI Worldwide: Company Snapshot
Figure 40 ACI Worldwide: SWOT Analysis
Figure 41 Bae Systems: Company Snapshot
Figure 42 Experian: Company Snapshot
Figure 43 Lexisnexis Risk Solutions: Company Snapshot
Figure 44 Iovation: Company Snapshot
Figure 45 Friss: Company Snapshot
Figure 46 Nice: Company Snapshot
Figure 47 DXC Technology: Company Snapshot
Figure 48 Dell Technologies: Company Snapshot
Figure 49 SAS Institute: Company Snapshot
Figure 50 SAP: Company Snapshot
Figure 51 First Data: Company Snapshot
Figure 52 Wirecard: Company Snapshot
Figure 53 Software AG: Company Snapshot
Figure 54 Guardian Analytics: Company Snapshot
Figure 55 Kount: Company Snapshot
Figure 56 Securonix: Company Snapshot
Figure 57 Maxmind: Company Snapshot
Figure 58 Simility: Company Snapshot

Organizations’ growing need to tackle increasing revenue losses due to the rising fraudulent attacks is a major growth factor for the FDP market. Also, the increasing use of electronic transactions across verticals would drive the overall market. The study includes 4 major activities to estimate the current market size for Fraud Detection and Prevention (FDP) market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. The study has employed both top-down and bottom-up approaches to estimate the overall market size. Thereafter, market breakup and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, the study has referred to various secondary sources such as D&B Hoovers and Bloomberg BusinessWeek for identifying and collecting information. The secondary sources include company websites, press releases, annual reports, TechTarget reports, Association of Certified Fraud Examiners (ACFE), Information Security Research Association (ISRA), Information Systems Security Association (ISSA), RSA Security, Cloud Security Alliance reports, SC Magazine, and SANS Institute studies.

Primary Research

The fraud detection and prevention market comprises several stakeholders, such as fraud detection solution providers, FDP vendors, government agencies, independent software vendors (ISVS), consulting firms, system integrators, technology consultants, Value-Added Resellers (VARs), Managed Security Service Providers (MSSPs), and IT agencies. Primary sources were mainly industry experts from the core and related verticals, and preferred suppliers, manufacturers, distributors, service providers, technology developers, and technologists from companies and organizations related to all the segments of the FDP market’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information, as well as assess the market’s prospects. The market size was estimated by analyzing various driving factors, including the increasing sophistication level of cyber frauds and attacks, increasing use of electronic transactions and rise in revenue losses due to frauds.

Various primary sources from supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Fraud Detection and Prevention Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Top-down and bottom-up approaches were used to estimate and validate the total size of the fraud detection and prevention market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • Identifying key players in the industry and markets through extensive secondary research
  • Determining the industry’s supply chain and market size, in terms of value, through primary and secondary research processes
  • Determining all percentage shares, splits, and breakups using secondary sources and verifying through primary sources

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakup procedures were employed, wherever applicable. Extensive qualitative and quantitative analyses were performed on the complete market engineering process to list the key information/insights throughout the report.

Report Objectives

  • To define, segment, and project the global market size for fraud detection and prevention market
  • To define, describe, and forecast the FDP market by component (solutions and services), deployment mode, organization size, application area, vertical, and region
  • To provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the FDP market
  • To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
  • To analyze market opportunities for stakeholders by identifying the high-growth segments of the FDP market
  • To forecast the market size of the segments with respect to major regions, such as North America, Europe, APAC, MEA, and Latin America
  • To profile the key players in the FDP market and comprehensively analyze their market size and core competencies
  • To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global fraud detection and prevention market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix that gives the detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakup of the North American Fraud Detection and Prevention market
  • Further breakup of the European FDP market
  • Further breakup of the APAC FDP market
  • Further breakup of the MEA FDP market
  • Further breakup of the Latin American FDP market

Company Information

  • Detailed analysis and profiling of the additional market players

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Report Code
TC 2879
Published ON
Nov, 2018
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