|By Business Wire||
|March 26, 2014 02:12 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/fz9w2v/fraud_detection) has announced the addition of the "Fraud Detection and Prevention Market Forecasts & Opportunities, 2018" report to their offering.
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.
Scope of Report
- Fraud analytics:
- - Predictive analytics
- - Customer analytics
- - Social media analytics
- - Visual analytics and tools
- - Others
- - Single-Factor Authentication (SFA)
- - Multifactor Authentication (MFA)
- - Strong authentication
- Large Enterprises
- Banking and financial services
- Public sector/government sector
- Aci Worldwide
- Alaric Systems
- Bae Systems Detica
- Bosch Software Innovations Gmbh
- Computer Sciences Corporation
- Easy Solution
- Emc Corporation
- Lavastorm Analytics
For more information visit http://www.researchandmarkets.com/research/fz9w2v/fraud_detection