Financial Fraud Detection Software Market to Reach $50,327.02 million, Globally, by 2032 at 14.8% CAGR: Allied Market Research

The growing adoption of online banking applications and mobile banking services and increasing incidences of financial fraud are boosting the growth of the global financial fraud detection software market. in addition, the increase in the use of digital transformation technology positively impacts the growth of the financial fraud detection software market.

PORTLAND, Ore., Nov. 7, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Financial Fraud Detection Software Market by Component (Solution and Service), Deployment Mode (On-premise, and Cloud), Fraud type (Money laundering, Identity Theft , Debit & Credit Card Frauds, Claim Frauds , Transfer Frauds , and Others) and End User (Banks, NBFCs, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report the financial fraud detection software market was valued at $13 billion in 2022 and is estimated to reach $50.3 billion by 2032, exhibiting a CAGR of 14.8% from 2023 to 2032.

Prime determinants of growth

The growing adoption of online banking applications and mobile banking services and increasing incidences of financial fraud are boosting the growth of the global financial fraud detection software market. in addition, the increase in the use of digital transformation technology positively impacts the growth of the financial fraud detection software market. However, surge in incidents of false positive rates and high implementation costs are hampering the financial fraud detection software market growth. On the contrary, rise in Innovations in the Fintech Industry are expected to offer remunerative opportunities for the expansion of the financial fraud detection software market during the forecast period.

Request Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/13108 

Report coverage & details:

Covid-19 Scenario

• The financial fraud detection software market has witnessed stable growth during the COVID-19 pandemic, owing to a rise in demand for anti-money laundering (AML), fraud detection solutions, and various other solutions during the pandemic situation.
• Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and cybersecurity framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global market.

The service segment to maintain its leadership status throughout the forecast period.

Based on component, the service segment held the highest market share in 2022, accounting for more than two-thirds of the global financial fraud detection software market revenue, owing to the rise in incidences of Account Take Overs (ATO) and phishing emails have compelled enterprises to adopt advanced tools and solutions to detect anomaly patterns of fraud at a preliminary stage. However, the service segment is projected to attain the highest CAGR of 16.7% from 2023 to 2032, owing to organizations in developing economies which are increasingly implementing robust fraud prevention strategies.

The banks segment to maintain its leadership status throughout the forecast period

Based on end user, the banks segment held the highest market share in 2022, accounting for nearly two-fifths of the global financial fraud detection software market revenue, owing to increase in demand for personalization and self-service on services and products. However, the NBFCs segment is projected to attain the highest CAGR of 17.0% from 2023 to 2032, owing to increase in demand for personalization and self-service and products.

Request Customization : https://www.alliedmarketresearch.com/request-for-customization/13108

Asia-Pacific maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global financial fraud detection software market revenue, owing to rise in adoption of financial fraud detection software in small & medium enterprises to ensure effective flow of financial activities. However, the Asia-Pacific region is expected to witness the fastest CAGR of 18.0% from 2023 to 2032 and is likely to dominate the market during the forecast period, due to the growing adoption of web-based and mobile-based business applications in the sector of banking.

Leading Market Players: -

• Feedzai,
• FiCO,
• Oracle Corporation,
• ThreatMetrix,
• SAS Institute Inc.,
• SAP SE,
• Fiserv, Inc.,
• IBM Corporation,
• Software AG,
• Experian plc.,

The report provides a detailed analysis of these key players of the global financial fraud detection software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the financial fraud detection software market analysis from 2023 to 2032 to identify the prevailing financial fraud detection software market opportunity.
• The financial fraud detection software market outlook research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the financial fraud detection software market segmentation assists to determine the prevailing market .
• Major countries in each region are mapped according to their revenue contribution to the global financial fraud detection software market forecast.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the financial fraud detection software market players.
• The report includes the analysis of the regional as well as global financial fraud detection software market trends, key players, market segments, application areas, and financial fraud detection software market growth strategies.

Inquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/13108

Financial Fraud Detection Software Market Report Highlights

Aspects Details

By Component

• Solution
• Service

By Deployment Mode

• On-premise
• Cloud

By Fraud Type

• Money Laundering
• Identity Theft
• Debit and Credit Card Frauds
• Claim Frauds
• Transfer Frauds
• Others

By End User

• Banks
• NBFCs
• Others

By Region

• North America (U.S., Canada)
• Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

Trending Reports in BFSI Industry (Book Now with 10% Discount + COVID-19 Scenario):

Banking CRM Software Market by Offering (Solution, Service), by Deployment Mode (On-Premises, Cloud), by Application (Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Loan Management Software Market  by Component (Solution, Service), by Deployment Mode (On-Premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), by Application (Cash and Liquidity Management, Risk Management, Collateral Management, Loan Origination and Servicing, Others), by End User (Banks, Credit Unions, NBFCs, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

P&C Insurance Software Market by Component (Software, Service), by Deployment Model (On Premise, Cloud), by Application (Claims, Underwriting, Operations, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Loan Servicing Software Market by Component (Software, Service), by Deployment Mode (On-premises, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), by Application (Commercial Loan Software, Loan Servicing Software, Loan Origination Software), by End User (Banks, Credit Unions, Mortgage Lenders and Brokers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Equity Management Software Market by Type (Basic ($Under 50/Month), Standard ($50-100/Month), Senior ($Above 100/Month)), by Enterprise Size (Large Enterprises, Small and Medium-size Enterprises), by Application (Private Corporation, Start-ups, Listed Company, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Claims Processing Software Market by Component (Software, Services), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), by End User (Insurance Companies, Insurance Intermediaries, Agents and Brokers, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com                                                                                                                                
Allied Market Research Blog: https://blog.alliedmarketresearch.com
BFSI Blog

Logo: https://mma.prnewswire.com/media/636519/4384252/Allied_Market_Research_Logo.jpg