Fraud Detection and Prevention Market by Solution Type (Fraud Analytics and Authentication), by Services (Professional and Managed), by Deployment (Cloud and On-Premises) by End User (Small & Medium Enterprises (SMEs) and Large Enterprises), by Indus

"Market Definition:
The Global Fraud Detection and Prevention Market size was valued at USD 24.62 billion in 2019 and is predicted to reach USD 89.94 billion by 2030 with a CAGR of 12.5% from 2020-2030. Any illegal and unlawful act conducted to extract any value from something is known as fraud. Fraud Detection and Prevention software helps in the identification of fraud and prevents data breach in organizations. It also facilitates secure online transactions by authenticating the access of the authorized users.
Market Dynamics and Trends
The constant rise in the number of fraud cases around the world have contributed to the market growth. Also, the introduction of big data analytics along with the growing adoption of cloud computing services are major elements contributing to the growth of fraud detection and prevention market. In addition, rapid increase in the mobile banking is among other major factors anticipated to fuel the market growth. However, high cost of such software coupled with lack of awareness are factors restraining the market growth. On the other hand, increase in data analytics, and advancements in the existing software are expected create ample opportunities in the fraud detection and prevention market over the forecast period.
Market Segmentations and Scope of the Study:
The global fraud detection and prevention market share is analyzed on the basis of solution type, services, deployment, end user, industry vertical and geography. On the basis of solution type, the market is segmented into fraud analytics and authentication. The fraud analytics are sub segmented into Predictive Analytics, Customer Analytics, Social Media Analytics, Bigdata Analytics, and Behavioral Analytics. The authentication segment is further divided into Single-Factor Authentication and Multifactor Authentication. On the basis of services, the market is divided into Professional and Managed. Based on deployment type, the market is divided into Cloud and On-Premises. On the basis of end user, the market is divided into Small & Medium Enterprises (SMEs) and Large Enterprises. On the basis of industry vertical, the market is divided into BFSI, Retail, Healthcare, Real Estate, Manufacturing, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
The North America region holds the lion market share due to increased adoption of fraud detection and prevention software by numerous industries. Also, surge in number of data processing enterprises along with technological advancements and growing awareness regarding the devastating impact of online fraud on an organization are among other major factors driving market growth in this region.
Asia pacific is expected to develop significantly over the forecast period owing to the presence of developing economies coupled with the increased penetration of internet and mobile devices, surging cases of fraud and wide application across industries.

Competitive Landscape

Lucrative growth opportunities make the fraud detection and prevention market extremely competitive. Some of the major players in the market are IBM Corporation, SAP SE, Oracle Corporation, ACI Worldwide, Lavastorm, ThreatMetrix, SAS Institute Inc., BAE Systems, NCR Limited, and Fair Isaac Corporation among others. Strategic alliances, acquisitions and innovations along with R&D are key strategies adopted by market players to maintain market dominance. For instance, in July 2020, NewDay, a financial services company partnered with RSA Security, financial crime prevention and predictive analytics company, to deliver advanced fraud protection for digital payments and address the requirements of the EMV 3-D secure protocol.

KEY MARKET SEGMENTS:
• Global Fraud Detection and Prevention market – By Solution Type
o Fraud Analytics
 Predictive Analytics
 Customer Analytics
 Social Media Analytics
 Bigdata Analytics
 Behavioral Analytics
o Authentication
 Single-Factor Authentication
 Multifactor Authentication
• Global Fraud Detection and Prevention market – By Service
o Professional
o Managed
• Global Fraud Detection and Prevention market –By Deployment
o Cloud
o On-Premises
• Global Fraud Detection and Prevention market –By End User
o Small & Medium Enterprises (SMEs)
o Large Enterprises
• Global Fraud Detection and Prevention market –By Industry Vertical
o BFSI
o Retail
o Healthcare
o Real Estate
o Manufacturing
o Others
• Global Fraud Detection and Prevention market –By Geography
o North America
 U.S.
 Canada
 Mexico
o Europe
 Germany
 France
 UK
 Russia
 Rest of Europe
o Asia-Pacific
 Japan
 China
 India
 Rest of Asia-Pacific
o RoW
 Brazil
 UAE
 South Africa
 Remaining Countries"