Global Fraud Detection and Prevention Market Size, Forecast to 2027 | Key Manufacturers – FICO, Fise
by Research Insight Research AnalystThe global
fraud detection and prevention market is anticipated to grow at 16.8% CAGR
owing to the increasing adoption of digitalization and IoT that has increased
the rate of FDP, mounting revenue losses as a result of fraud cases, an
increasing number of online and banking services will propel the growth in the
market. Nevertheless, the mounting use of developed analytics in FDP and
integration of AI, ML, and big data technologies to develop FDP solutions will
boost the opportunity growth in the Fraud Detection and Prevention Market.
COVID19 has reduced the market for the detection and
prevention of fraud in many applications. However, the rise in insurance claims
due to the novel coronavirus pandemic has offered fraudsters opportunities to
extract insurance claims from hospitals and government, leading to the growth
of the Fraud Detection and Prevention Market in the healthcare and government
sector.
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Based on offering, the service segment is anticipated to
have the significant growth owing to the rising demand for professional
services like consulting, training & education, and support &
maintenance by large enterprises.
North America dominates the market in 2020 owing to the
rising cases of payment frauds, identity thefts, and money laundering in the
region. Moreover, the region is anticipated to grow further owing to the rising
investment by organizations to protect data breaches and enhance security IT
infrastructure.
The prominent players in the global
fraud detection and prevention industry include FICO, Fiserv, FIS Global,
Oracle Corporation, IBM Corporation, SAP SE, Lavastorm, ACI Worldwide, SAS
Institute Inc., and NCR Limited.
Source: VynZ Research
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Created on Nov 12th 2021 02:01. Viewed 259 times.