Latest News - Fraud Detection and Prevention Market: Solutions are expected to lead the Component segment during 2025-2029

The Fraud Detection And Prevention Market is being driven by Increase in adoption of cloud-based services

The Fraud Detection And Prevention Market is expected to grow at a CAGR of 30.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 122646.1 million. In the dynamic business landscape, technological innovations are significantly driving the demand for advanced fraud detection and prevention solutions. By 2025, AI-driven predictive analytics, such as Large Transaction Models (LTMs), have become a pivotal trend. These solutions enable financial institutions to proactively identify and thwart fraudulent activities. LTMs analyze intricate customer behavior from voluminous transaction data, minimizing false positives and negatives. Furthermore, continuous learning technologies empower systems to autonomously update detection parameters in real-time, addressing emerging threats. In the identity verification sector, sophisticated techniques like liveness detection and document validation enhancements are effectively combating synthetic identity fraud. These technological advancements not only bolster security but also enhance the customer experience by streamlining processes and minimizing unwarranted interruptions.  

Get more information on Fraud Detection And Prevention Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Solutions
  • Services
• End-user
  • Large enterprise
  • SMEs
• Application
  • Transaction monitoring
  • Compliance and risk management
  • Identity verification
  • Behavioral analytics
  • Others
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • Russia
    • UK
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in adoption of cloud-based services
• Increasing fraud-related activities globally
• Increasing number of online transactions worldwide

However, the market also witnesses some limitations, which are as follows:

• Complex IT infrastructure
• Threat from open-source network security solutions
• High cost of deployment of fraud detection and prevention solutions and services

Benefits of Buying Global Fraud Detection And Prevention Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Fraud Detection And Prevention Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Fraud Detection and Prevention Market encompasses various technologies for safeguarding against financial and cybercrimes. These include device fingerprinting, IP address tracking, and geolocation data for user identification. Transaction velocity, pattern recognition, statistical modeling, rule-based systems, neural networks, and deep learning models are employed for anomaly detection. Supervised and unsupervised learning, reinforcement learning, data mining techniques, and predictive modeling are utilized for fraud trend analysis. Customer profiling and behavior analysis help in risk assessment, while network traffic analysis and log file analysis provide valuable insights into potential threats. Data encryption standards, secure coding practices, software security testing, multi-factor authentication, biometric authentication, password security policies, access control lists, role-based access control, and attribute-based access control are essential for securing systems and data.

Market Research Overview

The global IT consulting and other services market encompasses businesses offering IT consulting, system integration, application services, electronic data processing, business process outsourcing, infrastructure services, and Internet services. According to Technavio, market growth will be fueled by the surge in government investments in advanced IT infrastructure. Anomaly detection systems, fraud prevention strategies, and transaction monitoring tools are essential components of IT consulting services, which enable businesses to mitigate risks and ensure regulatory compliance. Risk scoring models are another critical aspect, enabling organizations to assess potential threats and take proactive measures to prevent fraudulent activities. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/