Key players in fraud detection and prevention market are CSC, IBM, ACI, SAP, FICO, Fiserv, Experian, EMC and many more
(PRWEB) February 17, 2015
The report "Fraud Detection and Prevention Market" defines and segments the global market into various segments with an in-depth analysis and forecasting of revenues. The research report also identifies the factors driving this market, various restraints, challenges and opportunities impacting it along with the future road-maps.
Browse 77 market data tables and 45 figures spread through 134 pages and in-depth TOC on “Fraud Detection and Prevention Market”
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The fraud detection and prevention market is expected to grow from $8.87 billion in 2014 to $20.49 billion by 2019 at a Compound Annual Growth Rate (CAGR) of 18.2% from 2014 to 2019.
Fraud detection and prevention market in public or government sector is also being expected to grow at a considerable growth rate. Since public or government sector transactions include huge sum of money and information, these transactions are targeted for money and data theft which is driving high growth rate of fraud detection and prevention market in this segment as well.
In the fraud detection and prevention market, banking and financial services vertical is expected to account for largest market share in the forecast period from 2013 to 2018. Increasing number of card related frauds, transactions and revenue losses are driving the growth rate in market share of banking and financial services. These factors are also responsible for high growth in retail sector market share. Insurance sector is the next big revenue pocket in fraud detection and prevention market. Insurance providers are deploying fraud detection and prevention solution and systems to identify the false insurance claims which are causing big dents in their revenues. With the rise of new technologies such as customer behavior analytics, new breed of visualization tools, diversification from traditional to new multi factor and strong authentication solutions, etc are the causing this market to grow at a high growth rate.
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Apart from banking and financial services, and insurance there are industries as well which are observing high growth rate. Retail, telecommunication and public/government sector are some of such high growth industries with larger market share. Manufacturing, professional services and logistics are the other industries with high growth rate but relatively small market share.
Banking and financial services industry vertical will hold largest market share throughout the forecast period followed by Insurance and retail sector. Retail sector would grow at the highest growth rate among these three verticals followed by insurance and than by banking and financial services.
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