ECommerce Fraud Detection And Prevention Global Market 2024 To Reach $131.93 Billion By 2028 At Rate Of 21.3%
The Business Research Company's eCommerce Fraud Detection And Prevention Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire.com/ -- The ecommerce fraud detection and prevention market has experienced robust growth in recent years, expanding from $50.32 billion in 2023 to $61.01 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to manual review processes, basic rule-based systems, limited payment options, early data analytics, security protocols.
What Is The Estimated Market Size Of The Global ECommerce Fraud Detection And Prevention Market And Its Annual Growth Rate?
The ecommerce fraud detection and prevention global market is projected to continue its strong growth, reaching to $131.93 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to growing demand for online shopping, advanced machine learning algorithms, behavioral biometrics, ai-powered automation, global data sharing and collaboration, multi-factor authentication (mfa) expansion, integration of predictive analytics. Major trends in the forecast period include integration with e-commerce platforms, biometric authentication, geolocation and ip analysis, cross-channel fraud prevention, blockchain for secure transactions.
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Growth Driver Of The ECommerce Fraud Detection And Prevention Market
Rising transactions on ecommerce platforms are expected to propel the growth of the ecommerce fraud detection and prevention market going forward. E-commerce platforms describe business transactions that are predominantly conducted electronically through the internet. Rising transactions on ecommerce platforms increase the need for ecommerce fraud detection and prevention tools and services as they help to evaluate the possible risk of each transaction and aid in the detection of high-risk transactions using algorithm-based analysis.
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Who Are the Leading Competitors in the ECommerce Fraud Detection And Prevention Market Share?
Key players in the ecommerce fraud detection and prevention market include KSB SE & Co. KGaA, ITT Inc., Ruhrpumpen Group, Castle Pumps Ltd., AxFlow Holding AB, Flowserve Corporation, North Ridge Pumps Ltd., Tapflo Group, Vertiflo Pump Company, FLUX-Geräte GmbH, Salvatore Robuschi and C. S.r.l., Lenntech BV, Brinkmann Pumps GmbH + Co. KG, Gusher Pumps Inc., Tapflo Pumps UK Ltd., C.R.I. Pumps Pvt. Ltd., National Pump Company, Grundfos Pumps Corporation, Pentair plc, Simflo Pump Inc., Process Systems Ltd., Neptuno Pumps Ltd., Sintech Precision Products Ltd., Ebara Corporation, Tsurumi Manufacturing Co. Ltd., Weir Group plc, Kirloskar Brothers Limited, Shakti Pumps Ltd., WPIL Limited, Crompton Greaves Consumer Electricals Limited, Kishor Pumps Pvt. Ltd., Rotech Pumps & Systems Inc., T-T Pumps Ltd., V-Guard Industries Ltd., Vansan Water Technologies, Zhejiang DOYIN Pump Industry Co. Ltd..
Which Key Trends Are Driving ECommerce Fraud Detection And Prevention Market Growth?
Technological advancement is a key trend gaining popularity in the ecommerce fraud detection and prevention market. Major companies operating in the market are using advanced technologies to sustain their position in the ecommerce fraud detection and prevention market.
How Is The Global ECommerce Fraud Detection And Prevention Market Segmented?
1) By Type: Cloud Based, On-Premise
2) By Fraud Type: Card Testing, Credit Card Fraud, Friendly Fraud, Identity Theft, Merchant Fraud, Phishing, Refund Fraud
3) By Application: SME, Larhe Enterprise
4) By Industry: Automotive and Transportation, Banking, Financial Services and Insurance, Consumer Goods and Retail, Education, Government and Public Sector, Healthcare and Life Sciences, Information Technology, Media and Entertainment, Telecommunication, Travel and Hospitality
Geographical Insights: North America Leading The ECommerce Fraud Detection And Prevention Market
North America was the largest region in the ecommerce fraud detection and prevention market share in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the ecommerce fraud detection and prevention market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
ECommerce Fraud Detection And Prevention Market Definition
ecommerce fraud detection and prevention refer to all the procedures and methods an online store may use to cut down on the amount of money and resources lost to fraud.
ECommerce Fraud Detection And Prevention Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global ecommerce fraud detection and prevention market report covering trends, opportunities, strategies, and more
The ECommerce Fraud Detection And Prevention Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ecommerce fraud detection and prevention market size, ecommerce fraud detection and prevention market drivers and trends, ecommerce fraud detection and prevention market major players, ecommerce fraud detection and prevention competitors' revenues, ecommerce fraud detection and prevention market positioning, and market growth across geographies. The ecommerce fraud detection and prevention global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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