July 8, 2021 – Amid the COVID-19 crisis, the global market for fraud detection and prevention estimated at US$19.5 billion in the year 2020, is projected to reach a revised size of US$51.3 billion by 2027, growing at a CAGR of 14.8 per cent over the period 2020-2027. The Global fraud detection and prevention market to reach US$51.3 billion by the Year 2027.
Solutions, one of the segments analyzed in the report (which profiled 80 countries), is projected to grow at a 13.8 per cent CAGR to reach US$30.6 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 16.4 per cent CAGR for the next 7-year period. This segment currently accounts for a 36.5 per cent share of the global fraud detection and prevention market.
The U.S. accounts for over 34.2 per cent of global market size in 2020, while China is forecast to grow at a 18.7 per cent CAGR for the Period of 2020-2027. The fraud detection and prevention market in the U.S. is estimated at US$6.7 billion in the year 2020. Japan and Canada are each forecast to grow at 11.5 per cent and 13.4 per cent respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.5 per cent CAGR while Rest of European market (as defined in the study) will reach US$9.5 billion by the year 2027.
For more information about this report visit https://www.researchandmarkets.com/r/otq4cj.