According to a research report titled ‘Fraud Detection and Prevention (FDP) Market Size By Type (External, Internal), By Component , By Application (Money Laundering, Credit and Debit Fraud, Mobile Fraud, Identity Threat, Electronic Fraud), By End-Use (Banking, Insurance, Government, Healthcare, E-commerce, Education), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, fraud detection and prevention market valuation is anticipated to reach USD 80 billion through 2025.
 

As per the research findings, rapid digitization across industry verticals owing to availability of low-cost connected devices, coupled with hefty economic losses incurred due to corporate crimes such as money laundering are boosting fraud detection and prevention (FDP) market growth.
 

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Furthermore, widespread proliferation of smartphones and upsurge in volume of real-time transactions using various digital payment methods are accelerating the development the industry.
 

Based on component type, the service segment is projected to record over 25% CAGR through 2025 due to increasing adoption of FDP solutions across enterprises. Fraud services comprise of fraud identification, detection, and prevention solutions, with service providers accountable for the optimum functionality of its services.
 

In terms of application scope, credit & debit card frauds accounted for over 20% of fraud detection and prevention (FDP) market share in 2018 and is estimated to witness strong growth through 2025. This is attributable to rising integration of chips in debit & credit cards that process small-value transactions without any authentication requires which have increased the risk of frauds.
 

Moving on to the end-user spectrum, the education segment is projected to garner significant returns during 2019 and 2025 owing to missing management reviews, unclear reporting channels, lack of internal controls, and insufficient personnel for monitoring frauds.
 

On the regional front, Asia Pacific fraud detection and prevention (FDP) market size is anticipated to expand with a growth rate of over 25% during the analysis timeframe. This can be ascribed to growing e-commerce sector, rapid surge in digital payment methods and high rate of digital illiteracy in the region.
 

Key contenders in fraud detection and prevention (FDP) market sphere are Webroot Inc., Verifi Inc., Trulioo, SpyCloud Inc., SAS Institute Inc., SAP S.E, LexisNexis Risk Solutions, International Business Machines Corp., Guardian Analytics, GreatHorn, Inc., Friss B.V., FIS Inc., First Data Corp., Fiserv, Inc., Experian plc, Eset, Spol. s r.o., DXC Technology Co., Avast Software s.r.o., Arbutus Software Inc., and ACI Worldwide Inc.