Fraud Detection And Prevention Market Is Expected To Grow At A CAGR Of More Than 18% By 2026
Global fraud detection and prevention market was valued at approximately $ 20 billion in 2019 and is expected to grow at a CAGR of more than 18% by 2026 owing to upsurge in electronic transactions and increasing instances of cyber-attacks and frauds. Thus, there is growing need for restricting these frauds as these activities incur huge financial losses to companies. Enterprises are now implementing advanced techniques such as data mining and machine learning techniques which is anticipated to positively influence global fraud detection and prevention market during forecast period. Global fraud detection and prevention market can be segmented based on the component, fraud type, deployment type, organization size, end user industry and region. Based on component, global fraud detection and prevention market is segmented into service and solution, of which the latter is further categorized into fraud analytics, authentication and others. Among solutions, authentication segme...