The AI in fraud management market is set to grow significantly in the coming years. By 2033, it’s estimated that this market will be worth a staggering US$ 57,146.8 million. This growth is expected to happen at an annual rate of around 18.5% between 2023 and 2033.
Companies in various industries like manufacturing, banking, healthcare, and more are putting more money into developing better ways to protect against fraud. This is expected to make the fraud prevention market grow. Governments and businesses around the world are also spending on advanced tools to stop fraud. Plus, with more people using online shopping, that’s adding to the demand for these solutions. Big companies in this market are coming up with different plans to offer more products and take advantage of market growth.
With more and more people using apps and mobile banking on the internet, there’s been a big rise in fake websites and phony mobile apps. This isn’t just happening with banks, but also in other areas like online shopping, making stuff, and healthcare. These fake websites and apps look just like the real ones you use, but they’re out to trick you into doing fake things online.
Especially when it comes to banking, many of us use mobile apps for things like paying bills, checking our statements, and even complaining or giving feedback. So it’s important to be extra cautious.
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Key Takeaways from AI in Fraud Management Market Report:
- United Kingdom AI in the fraud management market is expected to grow with a CAGR of 18.2% during the forecast period.
- The market in China is expected to grow with a CAGR of 21.2% during the forecast period.
- By solution, AI-powered fraud prevention software is projected to grow with a significant CAGR of 19.4 % during the forecast period.
- The market in India is expected to grow with a CAGR of 19.4% throughout the forecast period.
Leading Key Players in the Global Market:
- IBM Corporation
- Cognizant
- Temenos AG
- Capgemini SE
- Subex Limited
- JuicyScore
- Hewlett Packard Enterprise
- MaxMind Inc.
- BAE Systems plc
- Pelican
- SAS Institute Inc.
- Splunk Inc.
- DataVisor Inc.
- Matellio Inc.
- ACTICO GmbH
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By Solution:
- AI-powered Fraud Prevention Software
- Cloud-based
- On-Premises
- Services
- Risk Assessment Services
- Fraud & Risk Consulting
- Integration & Implementation
- Support & Maintenance
- Managed Services
By Application:
- Identity Theft Protection
- Payment Fraud Prevention
- Anti-Money Laundering
- Others
By Enterprise Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Industry:
- BFSI
- IT & Telecom
- Healthcare
- Government
- Education
- Retail & CPG
- Media & Entertainment
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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