The Fraud Detection and Prevention Market Report is Segmented by Solution (Fraud Analytics, Authentication, Reporting, Visualization, Governance, Risk, and Compliance (GRC) Solutions), by Scale of End User (Small-Scale, Medium-Scale, Large-Scale), by Type of Fraud (Internal, External), by End-User Industry (BFSI, Retail, It and Telecom, Healthcare, Energy and Power, Manufacturing, and Other End-User Industries), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The fraud detection and prevention market is likely to grow with an estimated CAGR of 17.5% from 2023 to 2033. The market share was worth US$ 31,447.6 million in 2023.

What Is The Regional Analysis For The Fraud Detection And Prevention Market?

The fraud detection and prevention (FDP) market was estimated to be worth 19.5 billion U.S. dollars in 2017. The projection for the market in 2023 exceeded 63 billion U.S. dollars. Firms offer FDP methods to prevent fraudulent insurance claims, identity theft, and money laundering.

How much fraud exists?

As of October 2018, around 23 percent of internet users have been a victim of online identity theft. These crime activities can be in the form of credit card fraud, tax related issues, or bank fraud, among other issues. While wire transfers still account for the highest value of fraud loss, technology-enabled frauds such as card-not-present (CNP) credit card fraud are increasingly common.

Other forms of fraud

When financial fraud is mentioned, it is sometimes associated with identity theft or Ponzi schemes like that carried out by Bernie Madoff. However, the most common economic crime reported is asset misappropriation, simply stealing something. Bribery, accounting fraud, and insider trading are also possible infringements. FDP vendors such as IBM, Oracle, SAP, and FICO watch against these, trying to stay one step ahead of the criminals.

The U.S. fraud detection and prevention market size was valued at USD 5.6 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 13 Billion by 2033, exhibiting a CAGR of 9.8% from 2025-2033. The market expansion is chiefly bolstered by the strict regulatory adherence, increasing cyber threats, and rise in digital transactions. Moreover, rapid advancements in biometrics, artificial intelligence (AI), and blockchain improve fraud prevention abilities, while accelerating need for real-time analytics facilitates the market growth across diverse sectors.

IMARC Group provides an analysis of the key trends in each segment of the U.S. fraud detection and prevention market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on component, application, organization size, and vertical.

The Fraud Detection and Prevention Market is projected to grow at 21.0% CAGR, reaching $130.79 Billion by 2029. Where is the industry heading next? Get the sample report now!

By Application:The North America Fraud Detection and Prevention market is segmented by application into Banking, Financial Services, and Insurance (BFSI), retail and e-commerce, and government and public sector. The Banking, Financial Services, and Insurance (BFSI) sector holds the largest market share in this category due to the critical need to protect sensitive financial data and transactions. The BFSI sector is highly targeted by cybercriminals, and as a result, companies in this sector have heavily invested in robust fraud detection systems. These solutions help banks and financial institutions comply with strict regulatory requirements such as anti-money laundering (AML) and know your customer (KYC) mandates. By Solution Type:The North America Fraud Detection and Prevention market is segmented by solution type into fraud analytics solutions, authentication solutions, and governance, risk, and compliance (GRC) solutions. Recently, fraud analytics solutions have dominated the market share within this segment. The dominance is due to the increasing reliance on predictive analytics to identify and mitigate fraud risks in real time. These solutions leverage big data, AI, and ML to analyze transactional patterns and detect anomalies that might indicate fraudulent activities. The ability to provide actionable insights has made fraud analytics solutions crucial for organizations aiming to strengthen their security infrastructure. North America Fraud Detection and Prevention Market Segmentation Though primarily focused on Europe, the General Data Protection Regulation (GDPR) has far-reaching implications for North American companies dealing with EU customer data. In 2022, the U.S. International Trade Commission reported that 78% of U.S.-based companies handling European transactions had implemented GDPR-compliant fraud detection systems to avoid penalties. This has increased demand for fraud detection solutions that offer data security and privacy controls, ensuring compliance with GDPR requirements while safeguarding customer data from fraud.

Snapshot img

Fraud Detection And Prevention Market Size 2024-2028

The fraud detection and prevention market size is forecast to increase by USD 86.68 billion at a CAGR of 27.17% between 2023 and 2028.

In the current business landscape, the market is experiencing significant growth due to several key factors. The increasing adoption of cloud infrastructure services, such as cloud computing and big data, is driving market expansion. These technologies enable organizations to store and process large volumes of data, which is essential for advanced fraud detection techniques like anomaly detection. Moreover, the healthcare services sector is increasingly relying on fraud detection solutions to safeguard sensitive patient data. In addition, the rise of business intelligence (BI) and machine-to-machine (M2M) services is leading to an increased need for robust fraud prevention measures. Phone-based authentication solutions are also gaining popularity as an effective method for securing user identities and preventing fraud. The technological advancement in fraud detection and prevention solutions and services, coupled with the complexity of IT infrastructure, is further fueling market growth.

What will be the Size of the Fraud Detection And Prevention Market During the Forecast Period?

Request Free Sample

The market encompasses a range of solutions designed to safeguard businesses and organizations from various types of financial and data breaches. Key end-use industries, including healthcare, manufacturing, governments, and IT , business intelligence and telecom, among others, increasingly rely on advanced technologies to mitigate risks. Market dynamics are driven by the growing adoption of cloud-based solutions, big data analytics, and blockchain technology. These innovations enable real-time fraud detection, enhancing the ability to prevent incidents such as payment fraud, identity theft, phishing scams, and money laundering. 
SMEs and large enterprises across sectors like travel and transportation, energy and utilities, media and entertainment, professional services, and insurance claims face similar challenges, making the market expansive and diverse. Authentication solutions, real-time fraud detection, and managed services are integral components of the market, catering to the evolving needs of businesses in an increasingly digital world.

How is this Fraud Detection And Prevention Industry segmented and which is the largest segment?

The fraud detection and prevention industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Component

  Solutions
  Services


End-user

  Large enterprise
  SMEs


Geography

  North America

    US
    Canada


  Europe

    Germany
    Spain
    UK


  APAC

    China
    Japan
    India


  South America

    South Africa


  Middle East and Africa

By Component Insights

The solutions segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth due to escalating cyber threats and the increasing need for robust security measures. Key drivers include the rising number of fraudulent activities such as identity theft, money laundering, and phishing scams, as well as economic uncertainty and the pandemic. In the solutions segment, authentication solutions have emerged as a major revenue generator. However, the high cost of biometric technology may hinder growth in this area. SMEs, healthcare, manufacturing, end-use enterprises, governments, IT and telecom, travel and transportation, energy and utilities, media and entertainment, and financial institutions are among the key industries investing in fraud detection and prevention. Digital technologies, including cloud-based solutions, Big Data, artificial intelligence, and machine learning, are increasingly being adopted for real-time fraud detection. Fraud complexity and online data transactions pose significant challenges, necessitating proactive measures and trained cybersecurity professionals.

Get a glance at the Fraud Detection And Prevention Industry report of share of various segments Request Free Sample

The Solutions segment was valued at USD 11.84 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The North American the market is projected to expand substantially due to the increasing prevalence of cyber threats in sectors like healthcare

The global e-commerce fraud detection and prevention market was estimated at 36.7 billion U.S. dollars in 2021. Forecasts suggest that this figure will continue to grow steadily in the coming years, surpassing the 100 billion dollar mark by 2027.

TheNorth America Fraud Detection and Prevention Marketis valued atUSD 18.25 billion, based on a five-year historical analysis. The rapid expansion of this market is primarily driven by the rising frequency and sophistication of fraud attacks, especially in the financial services and retail sectors. The digital transformation of businesses and the increase in online transactions have heightened the need for fraud detection solutions, as organizations aim to safeguard their operations from cyber threats.

The Saudi Arabia fraud detection and prevention market size reached USD 397.2 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,807.5 Million by 2033, exhibiting a growth rate (CAGR) of 18.3% during 2025-2033.

The size and share of the market is categorized based on Application (On Demand, On Premise) and Product (Services, Solutions) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

MaxMind and Signifyd both led the global fraud detection and prevention industry in 2024 with market shares of 24.03 and 18.35 percent, respectively. Both fraud detection and prevention software's offered by the companies are designed to protect information, assets, accounts, and transactions.

The size and share of the market is categorized based on Type (Fraud Analytics, Authentication, Governance Risk and Compliance (GRC), Reporting and Visualization) and Application (BFSI, Retail, Telecommunication, Government) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

North America Fraud Detection Market hits $18.25B, driven by rising cyber threats, digital payments, and strict compliance frameworks like GDPR and FinCEN.

Fraud Detection And Prevention Market Valuation – 2024-2031

Fraud Detection And Prevention Market size was valued at USD 31.99 Billion 2023 and is projected to reach USD 89.07 Billion by 2030, growing at a CAGR of 18.1% during the forecasted period 2024 to 2030

Global Fraud Detection And Prevention Market Drivers

Increasing digitalization: As more businesses and individuals adopt digital platforms for transactions and interactions, the risk of fraud also increases.

Rising cybercrime: The sophistication of cyberattacks is growing, making it more difficult for traditional security measures to detect and prevent fraud.

Regulatory compliance: Businesses are under increasing pressure to comply with data privacy and security regulations, such as GDPR and CCPA.

Global Fraud Detection And Prevention Market Restraints

High costs: Implementing and maintaining fraud detection and prevention solutions can be expensive, particularly for small and medium-sized businesses.

Complexity: Fraud detection and prevention technologies can be complex to implement and manage, requiring specialized skills and expertise.

Global Fraud Detection and Prevention Market size valued at US$ 30.86 Billion in 2023, set to reach US$ 162.01 Billion by 2032 at a CAGR of 20.23% from 2024 to 2032.

Global fraud detection and prevention market size is expected at $244,850.6 million by 2033 at a growth rate of 17.6%

Global Fraud Detection and Prevention market size 2025 was XX Million. Fraud Detection and Prevention Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The size and share of the market is categorized based on Type (Fraud Analytics, Authentication, GRC Solution, Others) and Application (Insurance claims, Money laundering, Electronic payment, Mobile payment, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).