The rising incidence of mobile frauds is a major factor responsible for the growing popularity of fraud detection and prevention solutions around the world. During the last few years, online transactions through mobile devices have witnessed a sharp surge in popularity and this trend will continue in the future years, on account of the surging penetration of the internet and smartphones across the world.
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The rising adoption of these transactions is augmenting the incidence of fraudulent activities. According to reports, around 49% of all risky transactions were carried out through mobile devices in early 2019. Moreover, cybercriminals are extensively using various mobile emulators that run on desktop systems and allow fraudsters to accurately mimic iOS and Android devices.
This is making the adoption of fraud detection and prevention solutions extremely necessary. Furthermore, the usage of machine learning and artificial intelligence for mitigating the prevalence of frauds is propelling the progress of the fraud detection and prevention market. Machine learning is increasingly being used for detecting patterns in fraud attacks and reducing the chances of heavy financial loss.
Artificial intelligence-based technologies and solutions are integrated with machine learning and big data for enhancing the operational workflow and enabling organizations and businesses to mitigate the occurrence of unknown and known frauds. Due to these reasons, the worldwide demand for fraud detection and prevention solutions and technologies is rising rapidly.
This market research report provides a comprehensive overview of the fraud detection and prevention market
Future potential of the market through its forecast for the period 2020– 2030
Major factors driving the market and their impact during the short, medium, and long terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings