Our client, one of the global leaders in Fraud Detection and Prevention market, wanted to multiply its revenue in Western Europe and the ANZ region. As a part of our engagement, we offered insights on which countries to prioritize and which end-user industries to target for its product portfolio.
We started by identifying a list of potential countries in Europe, (such as UK, Germany, Austria, Belgium, France, Italy, Switzerland, Spain, Portugal, Netherlands, and Scandinavian countries) Australia and New Zealand for the client to enter, and end-user industries for their solutions. Analyst hours were leveraged to prioritize these solutions based on the current market size, future growth potential, level of competitive intensity, and under-penetration of fraud detection and prevention when compared to more developed markets in the region.
Our work resulted in prioritizing 3 countries offering excellent growth potential to the client, with limited local competition. Together, these opened up new opportunities worth USD 20 million for our client. Our client obtained the advantage of being the first company to make an entry in the fraud detection and prevention market. This improved its ranking in Europe, making it one of the top 5 players in the market.
Our AI-based interactive market intelligence platform, KnowledgeStore, offered actionable insights into all related high-growth niche markets. Competitive intelligence, coupled with causes of revenue shifts and unknown adjacencies in client’s and client’s clients’ ecosystems were analyzed using our client services.
Revenue Shifts Identified
Need for fraud and data breach related advisory services for keeping up with regulatory services such as General Data Protection Regulation (GDPR) is prognosticated to fuel market growth. Increasing cyber threats from internal and external espionage activities is also brewing new opportunities in the market. Provisioning of multi-layered authentication process is further anticipated to influence the market positively.
There has been observed to be a rise in demand for cybersecurity solutions. It is expected to unravel growth opportunities in the market. GDPR services for regulatory compliance is projected to further expand growth opportunities in the market. Rising popularity of Identity Access Management services is also anticipated to add to revenue generation of market players.
Advancements in Know Your Customer (KYC) processes with biometrics and behavioral analytics to transcend rules-based systems has opened new growth avenues. The rising use of Robotic Process Automation (RPA) to automated searches and queries of third-party data during an enhanced due diligence process is also projected to impact the market favorably.
Our insights helped the client understand the market potential for Fraud Detection and Prevention across the regions of APAC and Western European regions. As a result, the client was able to target opportunities worth 20 million in the said geography.
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