The fraud detection and prevention market is expected to be worth US$ 133.5 billion in 2032, up from US$ 27.1 billion in 2022, and to grow at a 17.3% CAGR during the forecast period (2022-2032).
Due to an increase in cyberattacks around the world, demand for fraud detection and prevention is expected to rise from 2022 to 2032. The adoption of fraud detection and prevention is expected to increase in the fraud detection and prevention market in order to reduce such incidents.
Due to the high number of users spending time on online sites or e-commerce sites for purchasing grocery and other personal use products, which increases the sales of fraud detection and prevention, hackers are boosting the market while hacking several e-commerce and online shopping sites.
They make the payment through the online payment mode, which increases the likelihood of fraud with real-time consumers with their online transactions, resulting in a rapid increase in the adoption of fraud detection and prevention in businesses.
Request a Sample of this Report
Important Takeaways:
- Payment fraud is expected to dominate the fraud detection and prevention market share from 2022 to 2032, according to the fraud type segment.
- Retail & commerce is expected to be the largest vertical segment in the fraud detection and prevention market from 2022 to 2032.
- Because of the country’s large number of corporate sectors and multinational corporations, the United States plays a prominent role in fraud detection and prevention market trends.
- With a CAGR of 17.3%, the fraud detection and prevention market share is expected to reach US$ 133.5 billion by 2032.
Competitive Landscape:
The key competitive companies are focusing on increasing their fraud detection and prevention market share from 2022 to 2032. Companies are leading the way in the growth of fraud detective and prevention market analysis with their innovative skills and tactics.
They will use methods such as partnerships, mergers, and collaboration to stimulate the economy in the coming year. The following are some of the key players. BAE System plc, Nice Actimize, ACI Worldwide Inc, FICO, LexisNexis, TransUnion, Kount, Inc., and others are among them.
