Fraud Detection Software Market Forecast (2024-2031)
The Fraud Detection Software Market is expected to register a CAGR of 18.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Component [Solution (Fraud Analytics, Authentication), Services (Professional, Managed)]; Fraud Type (Check fraud, Identity fraud, Internet /Online fraud, Investment fraud, Payment frauds, Insurance Fraud, Others); Deployment (On-premises, Cloud-based); Organization Size (SMEs, Large Enterprises); End user (BFSI, Retail and Commerce, Healthcare, Government, Manufacturing, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report Fraud Detection Software Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Fraud Detection Software Market Segmentation
Component- Solution
- Services
- Check fraud
- Identity fraud
- Internet /Online fraud
- Investment fraud
- Payment frauds
- Insurance Fraud
- Others
- On-premises
- Cloud-based
- SMEs
- Large Enterprises
- SMEs
- Large Enterprises
Strategic Insights
Fraud Detection Software Market Growth Drivers- Growing Digital Transactions: One major factor propelling the market for fraud detection software is the rise in electronic and digital payment methods. The likelihood of fraud rises with the number of transactions conducted online, making strong detection tools essential for safeguarding both customers and companies.
- Rapid Growth of Fraud Analytics Solutions: Due to the growing amount of data produced by digital transactions, the fraud analytics market is predicted to increase significantly. This pattern emphasizes how crucial sophisticated analytics skills are to successfully thwart fraud.
- Emphasis on Real-Time Detection: Real-time fraud detection skills are becoming more and more popular. Organizations are giving priority to solutions that can minimize potential losses by providing prompt alerts and answers to suspicious behaviors as fraudsters become more skilled.
- Emergence of Collaborative Fraud Detection Networks: The rise of collaborative fraud detection networks is transforming the market landscape. Organizations are increasingly sharing data and insights with one another to strengthen their fraud detection capabilities. This trend fosters a collective approach to combating fraud, allowing businesses to benefit from shared intelligence and experiences, ultimately enhancing their overall fraud prevention strategies and reducing vulnerabilities across industries.
- Adoption of Advanced Technologies: The integration of artificial intelligence (AI) and machine learning (ML) into fraud detection systems presents a lucrative opportunity. These technologies enhance the ability to identify and analyze patterns of fraud more effectively, allowing for quicker and more accurate responses to potential threats.
- Cloud Technology Utilization: The growing adoption of cloud-based solutions is transforming the fraud detection landscape. Cloud technology offers scalable processing power and storage, enabling organizations to implement sophisticated fraud detection systems without the need for extensive on-premises infrastructure.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Fraud Detection Software Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Fraud Detection Software Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Emphasis on real-time detection is likely to remain a key trend in the market.
The Fraud Detection Software Market is estimated to witness a CAGR of 18.2% from 2023 to 2031
Growing digital transactions and rapid growth of fraud analytics solutions are the major factors driving the fraud detection software market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Fraud Detection Software Market - By Deployment Type
1.3.2 Fraud Detection Software Market - By Application
1.3.3 Fraud Detection Software Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. FRAUD DETECTION SOFTWARE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. FRAUD DETECTION SOFTWARE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. FRAUD DETECTION SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. FRAUD DETECTION SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. FRAUD DETECTION SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FRAUD DETECTION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
7.1. OVERVIEW
7.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
7.3. CLOUD
7.3.1. Overview
7.3.2. Cloud Market Forecast and Analysis
7.4. ON PREMISES
7.4.1. Overview
7.4.2. On Premises Market Forecast and Analysis
8. FRAUD DETECTION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FINANCIAL ENTERPRISES
8.3.1. Overview
8.3.2. Financial Enterprises Market Forecast and Analysis
8.4. EDUCATIONAL INSTITUTIONS
8.4.1. Overview
8.4.2. Educational Institutions Market Forecast and Analysis
8.5. HEALTHCARE
8.5.1. Overview
8.5.2. Healthcare Market Forecast and Analysis
8.6. GOVERNMENT
8.6.1. Overview
8.6.2. Government Market Forecast and Analysis
8.7. MANUFACTURING
8.7.1. Overview
8.7.2. Manufacturing Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. FRAUD DETECTION SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Fraud Detection Software Market Overview
9.1.2 North America Fraud Detection Software Market Forecasts and Analysis
9.1.3 North America Fraud Detection Software Market Forecasts and Analysis - By Deployment Type
9.1.4 North America Fraud Detection Software Market Forecasts and Analysis - By Application
9.1.5 North America Fraud Detection Software Market Forecasts and Analysis - By Countries
9.1.5.1 United States Fraud Detection Software Market
9.1.5.1.1 United States Fraud Detection Software Market by Deployment Type
9.1.5.1.2 United States Fraud Detection Software Market by Application
9.1.5.2 Canada Fraud Detection Software Market
9.1.5.2.1 Canada Fraud Detection Software Market by Deployment Type
9.1.5.2.2 Canada Fraud Detection Software Market by Application
9.1.5.3 Mexico Fraud Detection Software Market
9.1.5.3.1 Mexico Fraud Detection Software Market by Deployment Type
9.1.5.3.2 Mexico Fraud Detection Software Market by Application
9.2. EUROPE
9.2.1 Europe Fraud Detection Software Market Overview
9.2.2 Europe Fraud Detection Software Market Forecasts and Analysis
9.2.3 Europe Fraud Detection Software Market Forecasts and Analysis - By Deployment Type
9.2.4 Europe Fraud Detection Software Market Forecasts and Analysis - By Application
9.2.5 Europe Fraud Detection Software Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Fraud Detection Software Market
9.2.5.1.1 Germany Fraud Detection Software Market by Deployment Type
9.2.5.1.2 Germany Fraud Detection Software Market by Application
9.2.5.2 France Fraud Detection Software Market
9.2.5.2.1 France Fraud Detection Software Market by Deployment Type
9.2.5.2.2 France Fraud Detection Software Market by Application
9.2.5.3 Italy Fraud Detection Software Market
9.2.5.3.1 Italy Fraud Detection Software Market by Deployment Type
9.2.5.3.2 Italy Fraud Detection Software Market by Application
9.2.5.4 United Kingdom Fraud Detection Software Market
9.2.5.4.1 United Kingdom Fraud Detection Software Market by Deployment Type
9.2.5.4.2 United Kingdom Fraud Detection Software Market by Application
9.2.5.5 Russia Fraud Detection Software Market
9.2.5.5.1 Russia Fraud Detection Software Market by Deployment Type
9.2.5.5.2 Russia Fraud Detection Software Market by Application
9.2.5.6 Rest of Europe Fraud Detection Software Market
9.2.5.6.1 Rest of Europe Fraud Detection Software Market by Deployment Type
9.2.5.6.2 Rest of Europe Fraud Detection Software Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Fraud Detection Software Market Overview
9.3.2 Asia-Pacific Fraud Detection Software Market Forecasts and Analysis
9.3.3 Asia-Pacific Fraud Detection Software Market Forecasts and Analysis - By Deployment Type
9.3.4 Asia-Pacific Fraud Detection Software Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Fraud Detection Software Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Fraud Detection Software Market
9.3.5.1.1 Australia Fraud Detection Software Market by Deployment Type
9.3.5.1.2 Australia Fraud Detection Software Market by Application
9.3.5.2 China Fraud Detection Software Market
9.3.5.2.1 China Fraud Detection Software Market by Deployment Type
9.3.5.2.2 China Fraud Detection Software Market by Application
9.3.5.3 India Fraud Detection Software Market
9.3.5.3.1 India Fraud Detection Software Market by Deployment Type
9.3.5.3.2 India Fraud Detection Software Market by Application
9.3.5.4 Japan Fraud Detection Software Market
9.3.5.4.1 Japan Fraud Detection Software Market by Deployment Type
9.3.5.4.2 Japan Fraud Detection Software Market by Application
9.3.5.5 South Korea Fraud Detection Software Market
9.3.5.5.1 South Korea Fraud Detection Software Market by Deployment Type
9.3.5.5.2 South Korea Fraud Detection Software Market by Application
9.3.5.6 Rest of Asia-Pacific Fraud Detection Software Market
9.3.5.6.1 Rest of Asia-Pacific Fraud Detection Software Market by Deployment Type
9.3.5.6.2 Rest of Asia-Pacific Fraud Detection Software Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Fraud Detection Software Market Overview
9.4.2 Middle East and Africa Fraud Detection Software Market Forecasts and Analysis
9.4.3 Middle East and Africa Fraud Detection Software Market Forecasts and Analysis - By Deployment Type
9.4.4 Middle East and Africa Fraud Detection Software Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Fraud Detection Software Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Fraud Detection Software Market
9.4.5.1.1 South Africa Fraud Detection Software Market by Deployment Type
9.4.5.1.2 South Africa Fraud Detection Software Market by Application
9.4.5.2 Saudi Arabia Fraud Detection Software Market
9.4.5.2.1 Saudi Arabia Fraud Detection Software Market by Deployment Type
9.4.5.2.2 Saudi Arabia Fraud Detection Software Market by Application
9.4.5.3 U.A.E Fraud Detection Software Market
9.4.5.3.1 U.A.E Fraud Detection Software Market by Deployment Type
9.4.5.3.2 U.A.E Fraud Detection Software Market by Application
9.4.5.4 Rest of Middle East and Africa Fraud Detection Software Market
9.4.5.4.1 Rest of Middle East and Africa Fraud Detection Software Market by Deployment Type
9.4.5.4.2 Rest of Middle East and Africa Fraud Detection Software Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Fraud Detection Software Market Overview
9.5.2 South and Central America Fraud Detection Software Market Forecasts and Analysis
9.5.3 South and Central America Fraud Detection Software Market Forecasts and Analysis - By Deployment Type
9.5.4 South and Central America Fraud Detection Software Market Forecasts and Analysis - By Application
9.5.5 South and Central America Fraud Detection Software Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Fraud Detection Software Market
9.5.5.1.1 Brazil Fraud Detection Software Market by Deployment Type
9.5.5.1.2 Brazil Fraud Detection Software Market by Application
9.5.5.2 Argentina Fraud Detection Software Market
9.5.5.2.1 Argentina Fraud Detection Software Market by Deployment Type
9.5.5.2.2 Argentina Fraud Detection Software Market by Application
9.5.5.3 Rest of South and Central America Fraud Detection Software Market
9.5.5.3.1 Rest of South and Central America Fraud Detection Software Market by Deployment Type
9.5.5.3.2 Rest of South and Central America Fraud Detection Software Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. FRAUD DETECTION SOFTWARE MARKET, KEY COMPANY PROFILES
11.1. AIMBRAIN
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CIPHERCLOUD
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CYXTERA TECHNOLOGIES
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EXPERIAN INFORMATION SOLUTIONS, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GEMALTO NV
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. IBM CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ORACLE CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAS INSTITUTE INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SIGNIFYD INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. VALIDSOFT
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. AimBrain
2. CipherCloud
3. Cyxtera Technologies
4. Experian Information Solutions, Inc.
5. Gemalto NV
6. IBM Corporation
7. Oracle Corporation
8. SAS Institute Inc.
9. SIGNIFYD Inc.
10. ValidSoft
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For