The global FDP market is anticipated to grow at a significant CAGR of 18.3% during the forecast period. The increased adoption of AI in banking and insurance sector is fuleing the FDP market globally. Businesses are taking advantage by using AI to detect fraud which enhances their internal security and simplify corporate operations due to which it has emerged as significant tool to avoid the financial crimes. Various companies are focused towards bringing innovative AI-based FDP solutions to detect and prevent the fraud. For instance, in September 2021, IBM reveiled the details of its upcoming Telum processor which is designed to help enterprises to address fraud in real-time. Telum is the first processor of Big Blue which contains on-chip acceleration for AI influencing while the operation is taking place. Telum is planned for the first half of 2022. It is designed for the customers to achieve business insights related to their banking, financial and insurance interactions.
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The COVID-19 pandemic has resulted in lockdown in various countries due to which the use of digital platform has increased. People are using digital platforms for various reasons such as work from home, online shopping and online payments through net banking, digital apps or wallets. The increased use of digital platform has given opportunities to fraud criminals for hacking and access to credential information of consumers. Owing to such situations various inudtries such as banking, insurance, healthcare and others are required to adopt FDP solutions to avoid the frauds and keep the credential information of their customers safe. COVID-19 has the major impact on healthcare industry due to urgent requirement to fight against the COVID-19 disease as well as work on IT solutions to avoid the fraud as there was high risk of fraud in that sector.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global FDP Market by Fraud Type
- Identity Fraud
- Online Fraud
- Investment Fraud
- Payment Fraud
- Insurance Fraud
- Credit & Debit Fraud
- Others (Ponzi Schemes, Corporate Fraud)
Global FDP Market by Component
- Solution
- Service
Global FDP Market by Vertical
- Banking & Insurance
- Government
- Healthcare
- E-commerce
- Others (Education, IT & Telecom)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Accertify, Inc.
- Amazon Web Services, Inc.
- Experian Information Solutions, Inc.
- F5, Inc.
- Feedzai
- FIS
- Fiserv, Inc.
- FRISS Inc
- GURUCUL
- Kount Inc.
- LexisNexis Risk Solutions Group.
- NICE Ltd.
- OneSpan
- PayPal Payments Private Ltd.
- PerimeterX, Inc.
- RSA Security LLC
- SAS Institute Inc.
- Securonix
- Software AG
- Trans Union LLC
- Visa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global FDP market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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