According to a market report by Lucintel, the future of the fraud analytics market looks promising with opportunities in the banking, financial services and insurance (BFSI), retail & e-commerce, government, healthcare, industrial & manufacturing, and travel and transportation markets. The global fraud analytics market is expected to grow with a CAGR of 16% to 18% from 2023 to 2028. The major drivers for this market are increasing use of digitization and IoT along with expanding deployment of fraud detection and prevention systems and rising demand for fraud analytics to avoid risk related to online transaction frauds.
In this market, on-premise and cloud are the two major segments by deployment type that are used in various end use industries. Lucintel forecasts that cloud segment will witness fastest growth over the forecast period due to the growing demand for cloud-based fraud detection and prevention software among the enterprises and growing interest in cloud-based solutions among small and medium-sized businesses (SMEs) due to their low investment needs.
Within this market, BFSI is expected to remain the largest segment due to the increasing use of digital channels and technology in financial sector such as internet banking and mobile banking and growing need for fraud analytics to prevent the fraud happening in online, insurance claim, and credit card transactions.
APAC region is expected to witness highest growth due to the presence of huge number of fraud and prevention system service providers, growing demand for latest fraud detection and prevention systems among retail companies to avoid retail frauds, and increasing use of fraud analytics in bank debit and credit card e-commerce transactions in the region.
SAP SE, IBM, Sas Institute, ACI Worldwide, and Fiserv are the major suppliers in the global fraud analytics market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global fraud analytics market by application, organisation size, deployment mode, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Fraud Analytics Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global fraud analytics market by application, organisation size, deployment mode, end use industry, and region, as follows:
Fraud Analytics Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
· Insurance Claim
· Money Laundering
· Electronic Payment
· Others (Banking transactions)
Fraud Analytics Market by Organisation Size [Value ($B) Shipment Analysis from 2017 to 2028]:
· Small and Medium Enterprise (SMEs)
· Large Enterprises
Fraud Analytics Market by Deployment Mode [Value ($B) Shipment Analysis from 2017 to 2028]:
· On-Premise
· Cloud
Fraud Analytics Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
· BFSI
· Retail & E-Commerce
· Government
· Healthcare
· Industrial & Manufacturing
· Travel and Transportation
· Others
Fraud Analytics Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Fraud Analytics Market". To download report brochure, please go to
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About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the fraud analytics market by application (insurance claim, money laundering, electronic payment, and others), organisation size (SMEs and large enterprises), deployment mode (on-premise and cloud), end use industry (BFSI, retail & e-commerce, government, healthcare, industrial & manufacturing, and travel and transportation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?