Global Fraud Detection Transaction Monitoring Market, By Component (Solution, Services), Function (Case Management, KYC/Customer Onboarding, Dashboard and Reporting, Watch List Screening), Deployment Model (Cloud, On-Premises), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Vertical (Banking, Financial Services, and Insurance (BFSI), Manufacturing, Retail, Telecommunications and IT, Government and Defence, Healthcare, Energy and Utilities, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Fraud Detection Transaction Monitoring Market
Fraud detection transaction monitoring market is expected to reach USD 55494.78 million by 2028 witnessing market growth at a rate of 12.40% in the forecast period of 2021 to 2028. Data Bridge Market Research report on fraud detection transaction monitoring market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Transaction monitoring or business transaction is the process which is used in the businesses so that they can check, analyse and administer the transaction that took place in the information system. They also support banks and other financial institutions to keep track of their clients' transactions. The main aim is to analyse the customer profile and make sure that no suspicious activity should take place.
Increasing need of data protection regulations and lack of high-cost security solution within the payment network infrastructure, rising demand for Identifying high risk activities by using advance analytics, increasing need for organizations to comply with stringent regulatory agreements, rising demand for mitigating money laundering, managing KYC compliance and CTF activities, increase in the digitization of payment transactions are some of the major as well as vital factors which will likely to augment the growth of the fraud detection transaction monitoring market in the projected timeframe of 2021-2028. On the other hand, integration of advanced technology such as artificial intelligence, machine learning and big data analytics along with increase in the deployment of transaction monitoring system by small and medium enterprises which will further contribute by generating massive opportunities that will lead to the growth of the fraud detection transaction monitoring market in the above mentioned projected timeframe.
Difficulties in managing cross-border and multi-jurisdictional AML-compliance along with lack of transaction monitoring and AML professionals which will likely to act as market restraints factor for the growth of the fraud detection transaction monitoring in the above mentioned projected timeframe.
This fraud detection transaction monitoring market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on fraud detection transaction monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Fraud Detection Transaction Monitoring Market Scope and Market Size
Fraud detection transaction monitoring market is segmented on the basis of component, function, deployment model, organization size and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Fraud detection transaction monitoring market on the basis of component has been segmented as solution, and services. Services have been further segmented into professional services, and managed services. Professional services have been further sub segmented into consulting services, integration services, training and education, support and maintenance.
- Based on function, the fraud detection transaction monitoring market has been segmented into case management, KYC/customer onboarding, dashboard and reporting, and watch list screening.
- On the basis of deployment model, the fraud detection transaction monitoring market has been segmented into cloud, and on-premises.
- On the basis of organization size, the fraud detection transaction monitoring market has been segmented into small and medium-sized enterprises, and large enterprises.
- Fraud detection transaction monitoring has also been segmented on the basis of vertical into banking, financial services, and insurance (BFSI), manufacturing, retail, telecommunications and IT, government and defence, healthcare, energy and utilities, and others.
Fraud Detection Transaction Monitoring Market Country Level Analysis
Fraud detection transaction monitoring market is analysed and market size, volume information is provided by country, component, function, deployment model, organization size and vertical as referenced above.
The countries covered in the fraud detection transaction monitoring market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the fraud detection transaction monitoring market due to the increasing number of transaction frauds, money laundering, terrorist funding, financial theft, and data theft along with prevalence of various market players in the region while Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to the rising adoption of using upgraded tools and technologies for seamless operations along with increasing financial frauds and corruption in the banking sector in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Fraud Detection Transaction Monitoring Market Share Analysis
Fraud detection transaction monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to fraud detection transaction monitoring market.
The major players covered in the fraud detection transaction monitoring market report are ACI Worldwide, Inc.; BAE Systems; NICE Ltd.; FICO; SAS Institute Inc.; Oracle; Experian Information Solutions, Inc.; LexisNexis Risk Solutions Group.; Fiserv, Inc.; FIS; DIXTIOR; TransUnion Information Group Limited.; Wolters Kluwer N.V.; Temenos Headquarters SA; Nelito Systems Ltd.; Tata Consultancy Services Limited.; WorkFusion, Inc.; Napier Technologies Limited.; QuantaVerse, LLC.; Accenture; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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