New York, USA, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The Fraud Detection and Prevention Market will witness a positive growth during the Covid-19 pandemic. According to a latest report published by Research Dive, the Fraud Detection and Prevention Market is anticipated to cross the $145.7 billion mark by 2026, from a substantial market size of $18.8 billion in 2018, with a CAGR of 29.6%. This report consists of a complete overview on the current situation of the market and also includes other features such as dynamics of the market, market growth faucets, factors hampering the market, challenges, and opportunities in the analyzed timeframe. The report also offers information on the market figures; thus making it easier and beneficial for the new businesses to understand the real-time situation of the market.
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Factors Impacting the CAGR figures in Pre and during Covid-19 Period
The CAGR of global fraud detection and prevention market was estimated to be 26.5% in 2020, as per the pre Covid-19 scenario. In the current situation of the coronavirus pandemic, the CAGR is anticipated to be 29.6% in 2020; thus reflecting a positive market surge. The main reason is to prevent frauds and avoid revenue losses for the businesses.
Factors Impacting the Market Size in Pre and Real-Time Covid-19 Situation
The fraud detection and prevention market was predicted to generate significant revenue of $30.0 billion in 2020, in the pre Covid-19 scene. However, the real-time market size in the Covid-19 outbreak is accounted for $31.5 billion in 2020. Advancements in fraud prevention software, real-time alerts, and pre-defined scenarios are the main reasons for the market growth.
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Future Scope of the Market in the Post Covid-19 World
The fraud detection and prevention market will continue to grow in the post coronavirus emergency as well. This market is responsible for prohibiting frauds through historical analysis of customer behavior and real-time transaction data. Apart from this, identifying online traffic that can lead to data breach and testing in the data visualization process can prevent frauds in the current scenario. All of these faucets will promote the market growth in the post Covid-19 pandemic period.
Top Companies Leading the Market
1. IBM Corporation
2. NCR limited
3. SAS Institute Inc.
4. Fair Issac Corporation
5. ACI Worldwide
6. SAP SE
7. Lavastorm
8. Oracle Corporation
9. BAE Systems
10. ThreatMetrix
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report