Fraud Detection and Prevention Market by Solution (Fraud Analytics and Authentication), Application Areas (Insurance Claims, Money Laundering, Electronic Payment), Service (Professional and Managed), End-User, Vertical - Global Forecast to 2021

The Fraud Detection and Prevention (FDP) market size is estimated to grow from USD 14.36 billion in 2016 to USD 33.19 billion by 2021, at an estimated CAGR of 18.2% from 2016 to 2021. The FDP market is driven by factors such as emergence of big data analytics, rise in online businesses, electronic transactions, and mobile banking.

“Authentication solution segment to have the largest market size in 2016”

Authentication solution segment is estimated to have the largest market size in 2016 as the demands for effective fraud detection solutions and real time operations are increased because of the growing volume of online payment transactions. Furthermore, fraud analytics will grow at the highest CAGR during the forecast period, due to the emergence of big data analytics.

“Insurance claims application area is expected to grow at highest CAGR during the forecast period”

Insurance sector has witnessed huge financial losses due to forged insurance claims. Thus, the adoption of FDP solutions is high in this segment. Insurance claims application area is expected to grow at the highest CAGR during the forecast period. However, electronic payment segment is expected to have largest market size in 2016.

“Large enterprises segment is expected to have largest market size in 2016”

With the increasing organization size and business complexities, large enterprises have started investing in FDP solutions to combat against fraudulent activities and maintain security of their financial firms, banking sectors, insurance sectors, and e-commerce. Large enterprises segment is expected to grow with the largest market size in 2016. Moreover, SMEs segment is expected to grow at the highest CAGR during the forecast period.

“Retail vertical to have the highest growth rate during the forecast period”

FDP solutions have been deployed across various industry verticals, including government & defense, retail, Banking, Financial Services, and Insurance (BFSI), IT & telecom, healthcare, and others. The retail vertical is expected to witness the highest CAGR during the forecast period because of the rise in electronic transactions, which are prone to advanced fraud-attacks. However, BFSI is estimated to have largest market size in 2016.

“Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period”

APAC includes emerging economies, such as India and China, which are rapidly deploying FDP solutions. This is mainly due to growth in fraudulent activities in organizations, banking & financial institutes with the growing volume of online payment transactions. APAC is expected to grow at the highest CAGR during the forecast period. Furthermore, North America is expected to have largest market size in 2016.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the FDP market place.

By Company Type: Tier 1: 27%, Tier 2: 48%, Tier 3: 25%
By Designation: C-Level: 16%, Director Level: 72%, Others: 12%
By Region: North America: 57%, Europe: 16%, APAC: 15%, ROW: 12%

The report includes the study of key players offering FDP solutions such as IBM Corporation (U.S.), Oracle Corporation (U.S.), FICO (Brazil), SAS Institute Inc. (U.S.), SAP SE (Germany), Computer Sciences Corporation (U.S.), BAE Systems (U.K.), ACI Worldwide (U.S.), Fiserv Inc. (U.S.), and Threat Metrix (U.S.). The report includes in-depth competitive analysis of these key players in the FDP market, with their company profiles, SWOT analysis, recent developments, and key market strategies.

Objective of the Study

To define, describe, and forecast the global FDP market on the basis of solutions, services, application areas, end-users, verticals, and regions
To provide a detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
To analyze the opportunities in the market for the stakeholders and a detailed competitive landscape for the market leaders
To forecast the market size of the various market segments with respect to the regions of North America, Europe, APAC, MEA, and Latin America
To track and analyze competitive developments such as partnerships and collaborations, mergers and acquisitions, and new product launches in the FDP market