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Fraud Detection & Prevention Market to Reach $252.7 Billion, Globally, by 2032 at 24.3% CAGR: Allied Market Research
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market.
PORTLAND, Ore., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Fraud Detection & Prevention Market by Component (Solution and Service), Deployment Mode (On-Premises and Cloud), Organization Size (Large Enterprises and Small and Medium-sized Enterprises) and Industry Vertical (BFSI, IT and Telecom, Retail, Healthcare, Government and Defense, Manufacturing, Transportation and Logistics and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “fraud detection & prevention market” was valued at $29.5 billion in 2022, and is projected to reach $252.7 billion by 2032, growing at a CAGR of 24.3% from 2023 to 2032.
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market. Moreover, continuous technological advancements are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, the high cost of fraud detection and prevention solutions limits the growth of the fraud detection & prevention market.
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The solution segment held the highest market share in 2022.
By component, the solution segment dominated the market in 2022, this dominance is driven by the increasing demand for advanced technological solutions that can effectively detect, monitor, and prevent fraudulent activities across various industries such as banking, e-commerce, and insurance. Solutions like AI-based fraud detection, machine learning algorithms, and behavioral analytics have become critical tools in identifying potential fraud in real time and reducing financial losses. However, the service segment is expected to witness the largest CAGR of 28.0%, this growth is driven by the increasing need for specialized services such as consulting, implementation, and maintenance to help organizations effectively integrate and optimize fraud detection solutions.
The BFSI segment held the highest market share in 2022.
By industry vertical, the BFSI segment accounted for the largest share in 2022. This is primarily due to the high frequency and sophistication of fraud targeting financial institutions, making fraud detection and prevention solutions a critical need in the BFSI sector. Financial transactions, online banking, and digital payments are particularly vulnerable to cyberattacks, phishing schemes, and identity theft, driving the sector’s substantial investment in advanced fraud detection technologies. However, the retail segment is expected to witness the largest CAGR of 32.7%. This anticipated growth is driven by several factors. Retailers are increasingly targeted by fraudsters due to the high volume of transactions and the sensitivity of customer data involved. As e-commerce and digital transactions expand, the need for advanced fraud detection and prevention solutions becomes more critical.
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Regional Insights: The North America region held the highest market share in 2022.
By region, the fraud detection & prevention market was dominated by North America in 2022. North America, particularly the U.S., has a highly developed financial and technological infrastructure that supports advanced fraud detection solutions. The region’s significant investments in cybersecurity and fraud prevention technologies, combined with a high incidence of cyber threats, drive continuous innovation and adoption of sophisticated fraud management systems.
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Key Industry Developments
- In February 2024, the U.S. Department of the Treasury announced that it has recovered over $375 million as a result of its implementation of an enhanced fraud detection process that utilizes Artificial Intelligence (AI) at the beginning of Fiscal Year 2023.
- In April 2024, Cognizant collaborated with FICO, to launch a cloud-based real-time payment fraud prevention solution powered by FICO Falcon Fraud Manager. The joint offering would leverage both firms’ artificial intelligence (AI) and machine learning (ML) technology to help banks and other payment service providers in North America protect their customers from fraud in the growing world of instant digital payments.
- In September 2022, Deutsche Bank collaborated with Visa, to help prevent online retail fraud. Merchants who process their e-commerce payments via Deutsche Bank can now use “Decision Manager,” an automated fraud detection system from Visa-owned company Cybersource.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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 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 of 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 domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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ST JULIANS, Malta, Nov. 14, 2024 /PRNewswire/ — MJ Foundation Fundacja Rodzinna, a company related to Mateusz Juroszek, Board Member and primary insider of Gentoo Media Inc. (Gentoo) has today acquired 115,604 shares in Gentoo at a price of SEK 24,996 per share. After this transaction, close associates of Mateusz Juroszek hold 24,027,766 shares in Gentoo.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
For further information, contact:
Tore Formo, Group CFO, [email protected], +47 91668678
About Gentoo Media
Gentoo Media is a market-leading affiliate connecting operators and players in the online gambling and sports betting industry. Gentoo Media offers an array of iGaming affiliate solutions, such as paid marketing expertise and quality traffic through our prominent industry sites including AskGamblers, Time2Play, CasinoTopsOnline, WSN and Casinomeister. In 2024, Gentoo Media (formerly GiG Media) became Gentoo Media Inc. following a legal split separating the Media and Platform and Sportsbook business in Gaming Innovation Group (GiG) into two independently listed companies. Gentoo Media Inc. is dual listed on the Oslo Stock Exchange (ticker “G2MNO”) and Nasdaq Stockholm (ticker “G2M”). www.gentoomedia.com
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PARIS, Nov. 13, 2024 /PRNewswire/ — Newmark announces the firm has advised Unibail-Rodamco-Westfield (URW) in the €172.5 million sale of the 140,846 square-foot (13,085 square-meter) office portion of Les Ateliers Gaîté, a mixed-use property in the prominent Montparnasse district of Paris. Newmark Deputy Chief Business Officer Emmanuel Frénot arranged the transaction between URW and buyers Swiss Life Asset Managers and Norges Bank Investment Management.
“Advising URW on the sale of this asset, with its exceptional location and exemplary environmental approach, just a few months after the opening of our Paris office makes us particularly proud and highlights our ongoing momentum,” said Frénot. “This transaction confirms the recovery signals we have been sensing since the end of the second quarter of 2024 and suggests an increase in activity in the office segment for 2025.”
Les Ateliers Gaîté, delivered in 2022, includes around 100 retail shops, restaurants and services, as well as a hotel, offices, housing and a public library. The office space is leased long-term to coworking operator Wojo, establishing its Parisian flagship.
Newmark opened its flagship Paris office in March, hiring several of the city’s most respected brokers, including Francois Blin and Frénot to lead the team, Antoine Salmon and Vianney d’Ersu as Co-Heads of Retail Leasing, Managing Directors Jérôme De Laboulaye, Nicolas Coutant and Alexandre Gotti as President, France. The office is now home to nearly 40 leading French commercial real estate professionals, including a market-leading research team.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of over $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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OSLO, Norway, Nov. 13, 2024 /PRNewswire/ — Aker ASA (“Aker”) has today carried out its employee share purchase program for the year. Participants in the share purchase program were offered a discount of 20 per cent on the closing share price as of 13 November 2024. Hence, each participant paid NOK 443.20 per share. All shares will be locked in for a period of three years from delivery of the shares, during which the employees will not be able to sell the shares.
The following persons discharging managerial responsibilities in Aker have purchased shares:
– Svein Oskar Stoknes has acquired 1,400 shares. Mr. Stoknes’ total shareholding in Aker after the acquisition will be 11,400 shares.
– Lene Landøy has acquired 1,000 shares. Mrs. Landøy’s total shareholding in Aker after the acquisition will be 1,911 shares.
– Charlotte Håkonsen has acquired 500 shares. Mrs. Håkonsen’s total shareholding in Aker after the acquisition will be 2,493 shares.
– Christina Chappell Schartum has acquired 162 shares. Mrs. Schartum’s total shareholding in Aker after the acquisition will be 795 shares.
– Fredrik Berge has acquired 250 shares. Mr. Berge’s total shareholding in Aker after the acquisition will be 630 shares.
Please see attached notifications for persons discharging managerial responsibilities in Aker in accordance with Regulation EU 596/2014 (MAR) article 19.
Aker sold a total of 10,480 own shares in connection with the program. Following the transactions, Aker will hold 14,745 own shares.
Investor contact:
Fredrik Berge, Head of Investor Relations Aker ASA
Tel: +47 45 03 20 90
E-mail: [email protected]
This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and the Norwegian Securities Trading Act § 5 -12.
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