Fraud Detection And Prevention Market Product Driving Factors, Capacity and Growth Rate Analysis to 2030
The global fraud detection and prevention market was valued at USD 33.13 billion in 2024 and is projected to grow at a CAGR of 18.7% from 2025 to 2030. One of the primary drivers is the increasing sophistication of cyberattacks, which has led businesses across various sectors, such as banking, e-commerce, and healthcare, to adopt advanced fraud detection solutions. The rise in online transactions has also significantly contributed to this growth, as more consumers engage in digital payments, creating opportunities for fraudsters to exploit vulnerabilities. The digital transformation across industries is a significant catalyst, as organizations increasingly rely on online platforms for transactions. According to the Federal Trade Commission data, consumers reported losses exceeding USD 10 billion due to fraud in 2023, marking the first instance of such losses reaching this level. This figure represents a 14% increase compared to the losses reported in 2022. Moreover,...