Fraud Detection Software Developers
The Fraud Detection Software Developers industry comprises companies that develop software to detect fraudulent activity, such as mobile payments, for clients. Over the five years to 2018, the industry has performed exceptionally well. The rising number of services conducted online triggered an explosion of data tools and software, including software designed to protect and ensure that sensitive personal information like social security numbers and payment information is safeguarded. This has mainly come as a response to a rise in cybercrime and other fraudulent activities, prompting companies to demand industry software products as a way to ensure their data is not put at risk. Over the five years to 2023, however, revenue is expected to continue growing, but at a slower rate than the previous period. Growing price competition, as well as the ubiquity of services and relative saturation among large companies, will be the main influences behind the slower growth rate.
This industry includes businesses that develop software to detect fraudulent payments made to clients. The software also protects against fraudulent payments.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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