The global fraud detection and prevention market was valued at USD 33.13 billion in 2024 and is projected to grow at a CAGR of 18.7% from 2025 to 2030. One of the primary drivers is the increasing sophistication of cyberattacks, which has led businesses across various sectors, such as banking, e-commerce, and healthcare, to adopt advanced fraud detection solutions. The rise in online transactions has also significantly contributed to this growth, as more consumers engage in digital payments, creating opportunities for fraudsters to exploit vulnerabilities.

The digital transformation across industries is a significant catalyst, as organizations increasingly rely on online platforms for transactions. According to the Federal Trade Commission data, consumers reported losses exceeding USD 10 billion due to fraud in 2023, marking the first instance of such losses reaching this level. This figure represents a 14% increase compared to the losses reported in 2022. Moreover, this shift necessitates robust fraud detection systems to protect sensitive data and ensure compliance with regulatory standards.

Gather more insights about the market drivers, restrains and growth of the Global Fraud Detection And Prevention Market

Fraud Detection And Prevention Market Segments Highlights:

• The solution segment dominated the market with a revenue share of 62.4% in 2024, primarily due to the increasing demand for advanced authentication methods and fraud analytics.
• The service segment is projected to grow at the highest CAGR during the forecast period, driven by the rising need for professional and managed services.
• The payment fraud segment dominated the market with the highest revenue share in 2024 due to the surge in online transactions and associated risks. With the rise of e-commerce and digital payments, businesses are facing unprecedented levels of payment fraud, including credit card fraud and account takeovers.
• The identity theft segment is expected to grow at the fastest CAGR over the forecast period as awareness regarding personal data protection increases.
• The large enterprises segment dominated the market with the highest revenue share in 2024 due to their extensive resources and greater exposure to complex fraud risks.
• The SMEs segment is expected to grow at the fastest CAGR over the forecast period as smaller businesses increasingly acknowledge their vulnerability to fraud.
• The BFSI segment dominated the market with the highest revenue share in 2024, owing to its constant exposure to various financial fraud risks. Institutions within this sector face continuous threats from activities such as money laundering, credit card fraud, and identity theft.
• The retail and e-commerce segment is expected to grow at the fastest CAGR over the forecast period. Retailers face new opportunities and challenges as online shopping grows, particularly in combating online fraud, such as account takeovers and payment fraud.
• The North America fraud detection and prevention industry dominated the global market with a revenue share of 37.3% in 2024, primarily due to the region's advanced technological infrastructure and high adoption rates of digital payment methods.
• The U.S. dominated the regional fraud detection and prevention market in 2024, driven by the increasing volume of digital transactions and the rising sophistication of cyber threats.
• In Europe, the fraud detection and prevention industry is witnessing significant growth due to a significant rise in cybercrimes and sophisticated fraud schemes.
• The Asia Pacific fraud detection and prevention industry is projected to grow at the highest CAGR during the forecast period, fueled by digitalization and increasing internet penetration.
• In addition, India is emerging as a significant player within the Asia Pacific market due to its booming digital economy and increasing reliance on online transactions.

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Recent Development:

• In August 2024, CPI Card Group partnered with Rippleshot, a platform specializing in fraud prevention, to incorporate Rippleshot’s advanced services into its offerings. This alliance is intended to strengthen the fraud management capabilities available to CPI’s customers, helping them to proactively combat fraudulent activities, reduce related expenses, and enhance customer retention and satisfaction.
• In March 2024, Visa announced the addition of three new AI-powered solutions to its Visa Protect suite, aimed at enhancing fraud prevention efforts. Among these innovations is a state-of-the-art solution specifically designed for immediate payment fraud and expanded capabilities that address fraud across various payment networks.

Key Fraud Detection And Prevention Companies:

The following are the leading companies in the fraud detection and prevention market. These companies collectively hold the largest market share and dictate industry trends.

• ACI Worldwide
• AltexSoft
• BAE Systems
• Dell Inc.
• Equifax, Inc.
• Experian Information Solutions, Inc.
• Fiserv, Inc
• IBM Corp.
• NICE
• Oracle
• SAP SE
• SAS Institute Inc.
• SEON Technologies Ltd.
• Signifyd
• Software GmbH

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