Fraud Detection and Prevention Market Projected to $7.5 Billion by 2018 – Report by MarketsandMarkets

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(PRWEB) June 27, 2014

The report "Fraud Detection and Prevention Market [by Fraud Analytics (Predictive, Customer, Social Media, Visual), by Authentication (Single-Factor, Multifactor, Strong)] - Global Advancements, Worldwide Forecasts & Analysis – 2018" defines and segments the Fraud detection and Prevention market into various segments with an in-depth analysis and forecasting of revenues. This research report also identifies the factors driving this market, various restraints, challenges and opportunities impacting it along with future roadmaps.

Browse 82 market data tables and 16 figures spread through 166 pages and in-depth TOC on "Fraud Detection and Prevention Market - Global Advancements, Worldwide Forecasts & Analysis –2018" - http://www.marketsandmarkets.com/Market-Reports/fraud-detection-prevention-market-1312.html.

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MarketsandMarkets expects the Fraud Detection and Prevention market to grow $7.55 Billion by 2018. This represents a Compound Annual Growth Rate (CAGR) of 15.9% during forecasted period. MarketsandMarkets expects North America to hold the largest market for Fraud Detection and Prevention, in terms of geographical regions, and over the next five years, it is expected to continue this pace but Asia Pacific and Latin America would be the regions with highest growth rate.

MarketsandMarkets broadly segments the Fraud detection and Prevention market by solutions: fraud analytics, authentication; by type of users: small and medium enterprises, and large enterprises; by industry verticals: Banking & Financial Services, insurance, retail, telecommunication, public/government and others verticals; and by regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA).

In the present scenario, enterprises have to sustain within strict infrastructure budgets, in order to attain profitability for company. With enormous increase in the revenue losses because of the fraud incidents demand for the fraud detection and prevention solutions is also increasing. These solutions not only decrease the possibilities of fraud occurrences but also bring transparency in enterprise processes.

In the fraud detection and prevention market, banking and financial services vertical is expected to account for largest market share in the forecasted period, from 2013 to 2018. Increasing number of card related frauds, transactions, and revenue losses are driving the growth rate in market share of banking and financial services. These factors are also responsible for high growth in retail sector market share. Insurance sector is the next big revenue pocket in fraud detection and prevention market. Insurance providers are deploying fraud detection and prevention solution and systems to identify the false insurance claims which are causing big dents in their revenues. With the rise of new technologies such as customer behaviour analytics, new breed of visualization tools, diversification from traditional to new multifactor and strong authentication solutions, etc. are the causing this market to grow at a high growth rate.

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