Fraud Detection and Prevention Market by Solution (Fraud Analytics, Authentication, and GRC), Service (Managed and Professional), Vertical (BFSI, Retail and eCommerce, and Travel and Transportation), Deployment Mode, and Region - Global Forecast to 2025
The global FDP market size is expected to grow from an estimated value of USD 20.9 billion in 2020 to USD 38.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.8% from 2020 to 2025. The FDP market is driven by various factors, such as Increased in the adoption rate of digitalization and IoT and increase in the revenue loss due to fraud to boost the growth of FDP market across the globe during the forecast period. However, rise in complexity of frauds can hinder the growth.
Services segment to grow at a higher CAGR during the forecast period
Services for the FDP market includes professional services and managed services. The professional services include consulting services, training and education services, and support and maintenance services. FDP services give an upper hand to organizations’ security. These services help organizations make robust security decisions for proactively addressing emerging fraudulent attacks. Companies, such as Nice Actimize, BAE Systems, ACI Worldwide, and FRISS, provide services to their customers. These companies proactively help in the detection and recommendation of appropriate solutions to resolve fraud and FDP cases. FDP services help collects, filter, integrate, and link multiple security events’ data to provide a holistic view of the security infrastructure in organizations.
On premise segment to account for a higher market share during the forecast period
The on-premises deployment mode enables organizations to control all their business systems and data located in their business premises; however, it also requires them to pay for the cost of the hardware, software, and other resources used for the on-premises maintenance. On-premises solutions provide organizations full control over platforms, applications, systems, and data, which can be handled and managed by their IT staff. In organizations where user credentials are critical for business operations, the adoption of on-premises deployment mode is higher as it can control the systems from the enterprise physical or owned location.
Asia Pacific to grow at the highest rate during the forecast period
The FDP market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America accounts for the highest share of the FDP market in 2020. The factors supplementing this growth are the Organic and inorganic growth strategies among major FDP vendors and well-maintained distribution system of FDP solutions by major FDP players in North America such as Nice Actimize, FICO, LexisNexis, TransUnion, Kount, RSA Security, Fiserv and FIS.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the FDP market.
By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By designation: C-level: 40%, Manager and Other: 60%
By region: North America: 20%, Europe: 35%, APAC: 45%
Major vendors offering FDP market across the globe are BAE Systems (UK), Nice Actimize(US), FICO (US), LexisNexis(US), TransUnion(US), Kount (US), Software AG(Germany), RSA Security(US), Fiserv(US), FIS (US), NCR Corporation (US), Capgemini SE(France), Splunk (US), DXC Technologies (US), ACI Worldwide(US), Experian(Ireland), DataVerify(US), SecuroNix (US), Accertify (US), Feedzai (US), CaseWare (Canada), Jumio (US), CardinalCommerce(US), FCase(US), FRISS(Netherland), MaxMind (US), Gurucul (US), Datavisor (US), Digital Resolve (US).
The study includes an in-depth competitive analysis of the key players in the FDP market, with their company profiles, recent developments, and key market strategies.
The market study covers the FDP market size across segments. It aims at estimating the market size and growth potential of this market across different segments: component, application, deployment, end user type and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall FDP market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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