The Global Fraud Detection and Prevention (FDP) market was valued at approximately USD 43.97 billion in 2023 and is projected to grow at a robust CAGR of 21.8% from 2024-2023. This explosive growth is driven by the increasing volume of cyber-attacks, online frauds, and payment scams across industries like BFSI, healthcare, retail, and government sectors. The rise of digital payment platforms and mobile banking applications has significantly increased fraud risks, fueling the demand for advanced fraud prevention solutions. For instance, the U.S. government and corporations are actively adopting FDP systems to secure critical data from cyber threats, a key contributor to the market’s expansion.

Key players such as IBM Corporation, BAE Systems, and Experian are heavily investing in research and development to launch cutting-edge fraud detection technologies. For instance, the integration of artificial intelligence, big data analytics, and machine learning into fraud prevention systems is enhancing their ability to identify potential fraud patterns in real-time, offering a major competitive edge in preventing cybercrimes. Moreover, the market is witnessing a growing adoption of cloud-based solutions, especially among small and medium enterprises (SMEs), as they provide scalability and cost-effectiveness.

The key regions considered in the study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa, North America dominated the market in 2023, with key advancements in mobile payment technology and a strong focus on cybersecurity. Meanwhile, the Asia-Pacific region is anticipated to experience the highest growth during the forecast period due to rising investments in fraud prevention systems by governments and organizations across China, Japan, and India.

Major market players included in this report are:
IBM Corporation
Uplexis
Experian Information Solutions, Inc.
BAE Systems
ACI Worldwide, Inc.
Fair Isaac Corporation
Fidelity National Information Services, Inc.
LexisNexis
NICE Actimize Ltd.
Gemalto - Thales Group
Fiserv, Inc.
Capgemini SE
RSA Security LLC (a division of Dell Technologies)
Riskified Ltd.
Splunk Inc.

The detailed segments and sub-segments of the market are explained below:
By Solution:
Fraud Analytics
Authentication
Governance, Risk, and Compliance

By Deployment:
On-Premise
Cloud

By Application:
Insurance Claims
Money Laundering
Electronic Payment
Others (Banking Transactions)

By Enterprise Type:
Large Enterprises
Small & Medium Enterprises (SMEs)

By Industry:
BFSI
IT & Telecom
Retail & Consumer Packaged Goods
Government
Construction & Real Estate
Energy & Utilities
Manufacturing
Healthcare & Life Sciences
Media & Entertainment
Others

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific

Latin America
Brazil
Mexico
Rest of Latin America

Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.