Global Fraud Detection & Prevention Market 2021-2030: Growth Strategy of Capacity, Production, Market share, Price, Revenue, Cost, Gross margin, Consumption

In a recent published report, Kenneth Research has updated the market report for Global Fraud Detection & Prevention Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Fraud Detection & Prevention Market products.

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The growth of the market can be attributed to the growing accessibility to internet amongst the households globally and the need for advanced technologies that promote effective communication between two distant geographies. In the United States, internet access to households grew from around 73% of the households in 2015 to close to 80% of the households in 2019. In Korea, it was around 98% in 2014 which grew to nearly 100% in 2020. On the other hand, in the Netherlands, internet access to households touched nearly 98% in 2019. Countries in the Latin America, such as Brazil and Mexico grew at a significant pace by about 1.45x and 1.63x respectively within a span of 4 years between 2015 and 2019.

The Global Fraud Detection & Prevention Market is expected to grow with a significant CAGR during the forecast period, i.e. 2021-2024, on the back of growing internet penetration around the world along with the rising adoption of smartphone. The statistics by the GSMA Intelligence stated that the total unique mobile subscribers as on May 2020 around the world was 5.24 billion.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Globally, the fraud detection & prevention solutions and services are witnessing a healthy growth in recent years due to the increased use of transactional data surveillance, identity, and access applications, and growing cybersecurity concerns among the enterprises. The enterprises are increasing their spending on security technologies to reduce organizational security breaches, secure the perimeter, data security, content protection & controls, maintain privacy, IP, and APIs among other factors. Hence, the adoption of fraud detection & prevention has been rising in SMEs and large enterprises. Furthermore, the increasing adoption of digital technologies such as IoT, analytics, and mobility technologies is supporting the growth of fraud detection & prevention across various industry sectors.

The enterprises are investing in security technologies for the protection of their organizational assets and customer data due to the rising concern among organizations for the security of their virtualized infrastructure and business information. The vendors are required to put in an effort to promote the benefits of the solutions as there is low awareness among the companies about the available solutions. In addition, there is a lack of industry standards, which is in the development phase. In the digitally connected world, the fraud detection & prevention market has reported a significant growth and is presenting ample opportunities for the industry players. The fraud detection & prevention solutions and services are used by organizations of all sizes (small, medium, and large) across various verticals such as manufacturing, telecom & IT, healthcare, government & public sectors, banking, financial services, and insurance (BFSI), and others.

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Market Analysis:
According to Research, the global fraud detection & prevention market will witness a CAGR of 12.4% during the forecast period 2018–2024.
The growth in population, urbanization, globalization, technological advancements, and governmental measures are increasing the need for global security to deal with all kinds of physical information and technological breaches. Besides, the growth in data volumes for businesses and the need to keep the data secure for prospects are further giving an impetus to the growth of data security. 

Market Segmentation Analysis:
The study covers and analyzes fraud detection & prevention market by components, by solutions, by services, by applications, by organization sizes, by deployment modes, by industry verticals, and regions. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and make informed decisions. The regions coverage includes North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The revenue is generated mainly from North America, Europe, and Asia Pacific. North America is leading the market followed by Europe with Asia Pacific emerging in fraud detection and prevention market.

Regions and Vendors Analysis:
The report contains an in-depth analysis of the vendor profiles, which includes financial health, business units, key business priorities, SWOT, strategy and views, and competitive landscape. The key and the prominent vendors covered in the report include SAP SE, IBM Corporation, Microsoft Corporation, SAS, and ACI Worldwide among various others. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.

Benefits

The report encompasses the study of different fraud detection and prevention solutions such as authentication, fraud analytics, governance, risk, and compliance (GRC), reporting and visualization; by services such as consulting services, managed services, support and maintenance services, and others; by applications — money laundering, electronic payment, insurance claim, mobile payment, and others. The fraud detection and prevention market include a major delivery model that is used to deliver deception technology suites including on-premise and on-cloud models. The growth of fraud detection and prevention market is driven by the growing usage of internet among the population, increased usage of cloud-based technology by banking service companies, use of mobile-based applications along with cross-industry partnerships, and significant increase in venture capital investments. The evolution of technologies such as cloud computing, cognitive computing, and machine learning are paving the way for growth of fraud detection and prevention. Furthermore, the report provides details about the major challenges impacting the market growth. 

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Kenneth Research:        

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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