Boston, MA -- (SBWIRE) -- 01/28/2014 -- Fraud detection and prevention solutions are the offerings from IT vendors to the enterprises which helps enterprises to detect frauds or prevent occurrences of frauds at early stages. In this report fraud detection and prevention solutions refer to the IT solutions and systems which are used to analyze the data and find anomalies and patterns (to find deterrence from usual course) and the solutions which regulate user access by verification and authentication.
With rising revenue losses because of the frauds across the globe adoption of fraud detection and prevention solutions in enterprises is also increasing. Requirement of such solutions is significantly high in industries which involve monetary transactions such as banking and financial services, insurance, retail, telecommunication, and public or government sector. Increase in adoption can be observed in other industries as well such as manufacturing, transportation, healthcare, professional services among others. In 2013, banking and financial services sector accounts for the largest share in fraud detection and prevention market. In 2018, it is estimated to be the largest revenue generating industry vertical but the insurance, retail, and telecommunication sector would be rising at higher Y-o-Y growth rates.
Rise in online transactions frauds, cards related frauds and insurance claim frauds are the prime factors which are driving growth rates in banking and financial services, insurance, and retail sectors. As per the study, authentication would remain major revenue generating pocket but fraud analytics would be rising at higher growth rate. High growth rate in SMEs will drive the growth rates in region Asia-Pacific followed by Latin America.
Major challenges in this market include low awareness level of fraud possibilities in SMEs, high costs of deployments, and unavailability of pre deployment measures of performance. Though awareness level in SMEs is increasing and the impact of this factor will decrease in due course of time but the cost and pre deployment measures would remain primary concern in the market.
For the market sizing and forecasting, several assumptions have been taken into consideration such as economic, regulatory, and technological. For instance, exchange rates, one of the economic factors, are expected to have a moderate rating of impact on this market. Therefore, dollar fluctuations are expected to not seriously affect the forecasts in the emerging APAC regions.
The report will help the market leaders/new entrants in this market in the following ways -
1. This report will provide a comprehensive look in the global fraud detection and prevention market in terms of fraud analytics and authentication solutions market revenues. Market numbers are further split across verticals and regions.
View Full Report Details and Table of Contents
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Software research reports at Fast Market Research
You may also be interested in these related reports:
- Predictive Analytics Market [(Fraud, Risk, Marketing, Operations), Verticals (BFSI, Healthcare, Environment, Government Retail, Energy, Manufacturing, Transportation, Travel, Telecom, Sports)]: Worldwide Market Forecasts and Analysis (2013 - 2018)
- Complex Event Processing (CEP) Market [Algorithmic Trading, Fraud Detection, Sentiment Analysis, Supply Chain Optimization, Transportation and Logistics, Revenue Assurance, Emergency Response Services] Worldwide Market Forecast & Analysis (2013 - 2018)
- Casino Management Systems (CMS) Market [Management Systems, Analytics (Predictive, Video),Security and Surveillance (Video Surveillance, Access Control, Alarm Systems)] - Global Advancements, Worldwide Market Forecasts & Analysis (2013-2018)
- Business Intelligence Market by Types (Mobile BI, Social BI, Cloud BI, Traditional BI), by Function, by Deployment, by Features, by Verticals, by Organization Size, by Regions): Worldwide Trends, Market Forecasts and Analysis (2013 - 2018)
- Global Enterprise Social Software (ESS) Market : Global Advancements, Demand Analysis & Worldwide Market Forecasts (2013 - 2018)
- Financial Analytics Market [by Types (DBMS, Query, Reporting & Analysis, OLAP, Visualization), Applications Assets & Liability, Budgetary Control, General Ledger, Payables, Receivables, Profitability, GRC] - Worldwide Market Forecasts (2013 - 2018)
- Security Analytics Market By Types (Network Security, Application Security, Data And Information Security, Physical Security, Mobile Security) - Worldwide Market Forecasts And Analysis (2013 - 2018)
- Application Delivery Network (ADN) Market [Application delivery controllers (ADC), WAN Optimization controllers (WOC), Application Security Equipments, Application Gateways] Global Advancements, Worldwide Forecasts & Analysis (2013 - 2018)
- Physical Security Market By Products (Video surveillance, Access Control, Biometrics, Intrusion Detection, Security Systems), Services (Remote Management, Technical Support, Security Consulting) Worldwide Market Forecasts and Analysis (2013 - 2018)
- Big Data Market By Types (Hardware; Software; Services; BDaaS - HaaS; Analytics; Visualization as Service); By Software (Hadoop, Big Data Analytics and Databases, System Software (IMDB, IMC): Worldwide Forecasts & Analysis (2013 - 2018)