Global Fraud Detection and Prevention Market is growing at a CAGR of 18.36% due to the Increased Frequency of Fraudulent Activities Worldwide

The fraud detection and prevention market is witnessing significant growth due to the growing number of cyberattacks and data breaches worldwide. This trend is further propelled by stringent government regulations and the widespread adoption of digital technologies.  

According to the Markets and Data Research report, “Global Fraud Detection and Prevention Market Assessment, By Region, Opportunities, and Forecast, 2018-2032F”, the global fraud detection and prevention market is valued at USD 38.42 billion in 2024 and is anticipated to reach USD 154.30 billion by 2032F, growing with a CAGR of 18.36% in the forecast period 2025 – 2032F owing to a growing number of data loss cases worldwide. For instance, in 2023, projected losses from digital payment fraud reached approximately USD 485.6 billion worldwide, underscoring the significant financial impact of fraud on both businesses and consumers. Furthermore, NICE Limited, a prominent company in global fraud detection and prevention, reported that global fraud transaction attempts surged by 92% in 2022 compared to the previous year, with the amounts involved increasing by 146%.

The integration of AI, data analytics, and machine learning (ML) technologies acts as a critical market driver in the global fraud detection and prevention market landscape. Data analytics is increasingly recognized as an indispensable skill in modern fraud detection and prevention. As fraud tactics become more sophisticated, organizations are focusing on hiring professionals with expertise in advanced data analytics to enhance detection accuracy and automate risk decisions. This involves leveraging statistical techniques, machine learning algorithms, and data visualization tools to identify patterns, anomalies, and potential fraud indicators within vast datasets.  Moreover, AI and ML amplify fraud detection through real-time monitoring and analysis. Also, machine learning models are capable of detecting abnormal patterns or deviations from predefined rules, hence flagging suspicious cases against fraud more effectively when compared to their static rule-based counterparts. This capability offers much quicker response times and far more accuracy in identifying suspicious activities while reducing false positives for improved security.

Spread through 424 pages, the "Global Fraud Detection and Prevention Market" report includes an in-depth TOC, over 292 market data figures, the latest market developments, key drivers and opportunities, and a thorough study of major company profiles. Moreover, the report offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail.

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Key Takeaways:

• Due to the growing frequency of fraudulent activities worldwide, along with the stringent government regulations and the widespread adoption of digital technologies, the global fraud detection and prevention market is anticipated to grow exponentially.
• The integration of advanced technologies such as artificial intelligence (AI), data analytics, and machine learning (ML) is acting as a critical driver for the expansion and growth of the global fraud detection and prevention market landscape.
• Additionally, the increasing popularity of quick commerce and online payment solutions is further boosting the growth trajectory of the global fraud detection and prevention market. The surge in online shopping and digital payments is expected to create new opportunities for fraudsters to exploit vulnerabilities, leading to increased demand for robust fraud detection and prevention techniques.
• North America holds a significant share of the global fraud detection and prevention market and is estimated to experience robust growth in the forecast period due to the region's high adoption of advanced technologies and its strong focus on cybersecurity.

The global fraud detection and prevention market is segmented into the following categories:

By Component: Solution, Services

By Application: Insurance Claims, Money Laundering, Electronic Payment, Others (Identity Theft)

By Deployment: On-premise, cloud

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, Others

By Region: North America, Europe, Asia-Pacific, South America, Middle East and Africa

Based on region, the North America segment is holding a considerable share of the global fraud detection and prevention market in 2024. The region is experiencing continuous growth and is expected to reach USD 55.81 billion by 2032F, due to the region's high adoption of advanced technologies and its strong focus on cybersecurity. In terms of innovation in fraud detection and prevention, the United States and Canada have been at the forefront of the market. North America, with a significant number of established tech companies and startups specializing in cybersecurity, has developed advanced tools powered by artificial intelligence, machine learning, and big data analytics and positioned itself as a prominent region in the global fraud detection and prevention market.

With the evolution of cyber threats, North America is applying proactive approaches, coupled with investment in research and development, to ensure its significant position in the fraud detection and prevention market, setting benchmarks for other regions

Major Companies Operating in the Global Fraud Detection and Prevention Market include:

• IBM Corporation
• Thales S.A.
• Oracle Corporation
• SAP SE
• Fiserv, Inc.
• NICE, Ltd.
• F5 Inc.
• SAS Institute Inc.
• Fair Isaac Corporation (FICO)
• ACI Worldwide Inc.

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Key players are making huge investments in new products and services to increase their market presence. For instance, in March 2024, Visa introduced AI-powered risk and fraud prevention tools. Similarly, in June 2024, Oscilar launched an AI-powered ACH fraud detection product, utilizing ML algorithms, generative AI, and real-time data analysis to avoid fraudulent transactions.

Furthermore, firms are integrating multiple fraud detection solutions into their platforms to offer a more advanced solution. Additionally, many companies are strategically forging partnerships and pursuing acquisitions to expand their presence and share. For instance, in August 2024, Rippleshot and CPI Card Group announced a strategic alliance to integrate Rippleshot’s advanced fraud prevention services into CPI’s offerings. This collaboration aimed to improve fraud management, reduce associated costs, and boost customer retention and satisfaction. Also, in March 2024, FIS, a global player in the financial technology sector, announced that its SecurLOCK card fraud management solution is aimed at significantly improving the accuracy of identifying and preventing fraudulent card transactions through a new collaboration with Stratyfy, a graduate of the FIS Fintech Accelerator program. In May 2024, Swiggy Limited, the online food delivery platform, announced a partnership with SHIELD, a device-first risk AI platform, to strengthen its fraud prevention and detection capabilities. This strategic collaboration is designed to tackle promotional abuse and counter fraudulent activities within Swiggy’s Delivery Partner network.

Additionally, in March 2025, IBM Corporation forged new partnerships with NVIDIA Corporation, focusing on integrating the NVIDIA AI Data Platform reference design. This initiative aims to empower enterprises to optimize their data utilization, facilitating the development, scaling, and management of generative AI workloads and agentic AI applications. Additionally, IBM Corporation is set to introduce a content-aware storage feature within its hybrid cloud infrastructure, known as IBM Fusion, enhancing its offerings in data management and security. With the growing number of strategic collaborations, acquisitions, expansions, and innovations, the fraud detection and prevention sector are poised to experience robust growth in the forecast period.

“Global Fraud Detection and Prevention Market Assessment, 2018 - 2032F” evaluates the future growth potential of the global fraud detection and prevention market and provides statistics and information on market size, structure, and future market growth. The report intends to provide advanced market intelligence and help decision-makers make investment decisions for their organizations more strategically. Moreover, the report identifies and examines the emerging trends along with key drivers, challenges, and opportunities in global fraud detection and prevention market.

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