Dublin, May 31, 2023 (GLOBE NEWSWIRE) -- The "eCommerce Fraud Detection And Prevention Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global ecommerce fraud detection and prevention market is expected to grow from $41.37 billion in 2022 to $49.99 billion in 2023 at a compound annual growth rate (CAGR) of 20.8%. The ecommerce fraud detection and prevention market is expected to grow to $106.08 billion in 2027 at a CAGR of 20.7%.
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.
For instance, in May 2021, according to a report by the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization envisioned to promote the interests of developing states in world trade, in 2020, the proportion of online retail sales to all retail sales rose from 16% to 19%. And, in 2021, global e-commerce sales jumps to $26.7 trillion. Therefore, rising eCommerce platforms are driving the growth of the eCommerce fraud detection and prevention market.
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.
For instance, in July 2020, Forter, a US-based fraud prevention software company, launched Forter Smart Routing, powered by advanced AI technology and a global network, which is an automated payment routing solution designed to assist businesses in avoiding revenue loss brought on by erroneous payment declines throughout the payment process. Automated payment routing decisions that prevent incorrect declines and cut lost income by 50%. Forter Smart Routing is the first industry-wide solution to give merchants more control. The unique features of Forter Smart Routing include accurate pre-auth fraud detection, dynamic 3DS, smart routing, and recovery of declines.
In January 2022, ClearSale, a Brazil-based e-commerce fraud protection company acquired ChargebackOps for an undisclosed amount. With this acquisition, ClearSale aims to expand its solution offerings and client portfolio in chargeback protection for retailers. ChargebackOps is a US-based company providing ecommerce fraud detection and prevention services.
North America was the largest region in the ecommerce fraud detection and prevention market in 2022. 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 and Africa.
The countries covered in the ecommerce fraud detection and prevention market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Scope
Markets Covered:
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $49.99 billion |
| Forecasted Market Value (USD) by 2027 | $106.08 billion |
| Compound Annual Growth Rate | 20.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. eCommerce Fraud Detection And Prevention Market Characteristics
3. eCommerce Fraud Detection And Prevention Market Trends And Strategies
4. eCommerce Fraud Detection And Prevention Market - Macro Economic Scenario
5. eCommerce Fraud Detection And Prevention Market Size And Growth
6. eCommerce Fraud Detection And Prevention Market Segmentation
7. eCommerce Fraud Detection And Prevention Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Bolt Financial Inc.
- ClearSale
- Forter
- FraudLabs Pro
- Kount Inc.
- LexisNexis Risk Solutions Group
- Riskified
- SEON Technologies Ltd.
- Signifyd Inc.
- ACI Worldwide Inc.
- Avast Software s.r.o.
- DXC Technology Company
- Fiserv Inc.
- Radial Inc.
- RSA Security LLC
For more information about this report visit https://www.researchandmarkets.com/r/e9b9p8
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