According to the latest report by IMARC Group, titled “Enterprise Fraud Management Market Report by Solutions (Digital Banking and Payment Frauds, Card Frauds, Multi-Channel Fraud, Internal Threats / Employee Surveillance, Authentication Management), Deployment Type (On-Premises, Cloud-based, SaaS), Enterprise Size (Small Enterprises, Medium Enterprises, Large Enterprises), Application (BFSI, Government, Retail, Healthcare, Travel and Tourism, IT and Telecommunication, and Others), and Region 2023-2028,” the global enterprise fraud management market size reached US$ 9.54 Billion in 2022. Enterprise fraud management (EFM) is a comprehensive system designed to proactively detect, prevent, and mitigate fraudulent activities within an organization. It serves as a safeguard against various forms of fraud, including financial, identity, and cyber fraud. EFM harnesses advanced analytics and real-time monitoring to identify suspicious patterns and anomalies in transactions, enabling timely intervention. Its advantages lie in its ability to protect a company's assets, reputation, and customer trust by minimizing financial losses and ensuring regulatory compliance. There are two primary types of EFM solutions: rule-based and machine learning-based. Rule-based systems rely on predefined rules and thresholds to flag potential fraud, while machine learning-based systems leverage artificial intelligence (AI) to adapt and learn from evolving fraud tactics, enhancing accuracy.
Global Enterprise Fraud Management Market Trends:
The global enterprise fraud management market is influenced by the increasing sophistication of fraudulent activities in the digital age, which has necessitated robust fraud prevention solutions. Furthermore, the rising adoption of online payment methods and e-commerce platforms expands the potential attack surface for fraudsters, thus augmenting the market growth. Additionally, regulatory compliance requirements and data protection regulations drive organizations to invest in fraud management solutions, which, in turn, is supporting the market growth. In line with this, the growing volume of digital transactions and data provides fertile ground for fraudsters, making real-time monitoring and analytics crucial. Moreover, the integration of AI and machine learning (ML) in fraud detection and the globalization of business operations are creating a positive environment for the market. Looking forward, the market value is projected to reach US$ 18.02 Billion by 2028, expanding at a CAGR of 11.26% during 2023-2028.
- Based on the solutions, the market has been segmented into digital banking and payment frauds, card frauds, multi-channel fraud, internal threats/ employee surveillance, and authentication management. Currently, authentication management dominates the market, holding the largest share.
- On the basis of the deployment type, the market is classified into on-premises, cloud-based, and SaaS. Currently, on-premises dominate the market, holding the largest share.
- By the enterprise size, the market has been segmented into small, medium, and large enterprises. Currently, large enterprises represent the dominant segment.
- Based on the application, the market has been divided into BFSI, government, retail, healthcare, travel and tourism, IT and telecommunication, and others. Currently, BFSI holds the majority of the market share.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America is the leading market, accounting for the majority of the global share.
- The competitive landscape of the market has also been examined, with some of the key players being ACI Worldwide Inc., Capgemini SE, Cybersource (Visa Inc.), Deloitte Touche Tohmatsu Limited, Experian Plc, FICO, NICE Actimize (NICE Systems Ltd.), SAS Institute Inc., and Verafin Solutions ULC.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Deployment Type
- Enterprise Size
||Digital Banking and Payment Frauds, Card Frauds, Multi-Channel Fraud, Internal Threats / Employee Surveillance, Authentication Management
|Deployment Types Covered
||On-Premises, Cloud-based, SaaS
|Enterprise Sizes Covered
||Small Enterprises, Medium Enterprises, Large Enterprises
||BFSI, Government, Retail, Healthcare, Travel and Tourism, IT and Telecommunication, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ACI Worldwide Inc., Capgemini SE, Cybersource (Visa Inc.), Deloitte Touche Tohmatsu Limited, Experian Plc, FICO, NICE Actimize (NICE Systems Ltd.), SAS Institute Inc., Verafin Solutions ULC, etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800