What's driving the growth of the fraud detection and prevention market?
The market is surging at an 18% CAGR (2023-2030) due to factors like rising security concerns, increased cyberattacks, and adoption of cloud-based fraud solutions with AI capabilities.
Which region is expected to lead the fraud detection and prevention market?
Asia Pacific (APAC) is projected to witness the fastest growth due to factors like increasing ICT adoption, cloud computing demand, and government initiatives.
Who are the major players in the fraud detection and prevention market?
Global giants like IBM, FICO, SAS, and regional players like NICE Systems and DXC Technology dominate the market. These players employ strategies like mergers, acquisitions, and partnerships to expand their reach.
What are the key segments of the fraud detection and prevention market?
The market is segmented by component (solutions, services), deployment (cloud, on-premise), industry vertical, and region. Each segment offers unique insights into market dynamics and growth potential.