The global demand for AI in Fraud Management Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
AI solutions can be an integral part of security which is relevant for many business sectors. AI interprets trend-based insights through machine learning and then combines completely new knowledge received from unsupervised machine learning. These steps enable the technology to determine if a transaction was fraudulent or not. AI in fraud management can be used to facilitate enhanced security as it can effectively trace steps of card usage, endpoint access, etc. Thus, helping security specialists better link the point at which fraud was committed and ensured further prevention. The relevance of fraud management in all businesses is of a different scale. However, it is worthy of note that no business is entirely free of risk. Many fraud incidents can damage the business's reputation and revenue. Thus, AI fraud management is important for all organizations.
The market of AI fraud management is growing as an organization has started leaning on AI to analyze the behavior of transactions. A survey by PMTS stated that 80% of fraud specialists believe that AI technology could be vital for reducing payment frauds and safeguard companies from fraud attempts. Fraud detection through AI is beneficial as data analysis can be done within milliseconds. Further, the technology also quickly detects sophisticated patterns, a task that would be challenging for fraud analysis to detect. AI makes fraud management time-effective and facilitates analysts to focus on vital aspects like cases when risk scores are high. Lack of data infrastructure to sustain machine learning and entry of conventional businesses in the online platform are challenging hurdles in the market. But it also helps businesses determine frauds in less than a second, stop abuse attacks, and enables businesses to have better control over chargeback rates as well.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of ai in fraud management. The growth and trends of ai in fraud management industry provide a holistic approach to this study.
Market Segmentation
This section of the ai in fraud management market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Solution
- Ai-Powered Fraud Prevention Software
- Services
By Application
- Identity Theft Protection
- Payment Fraud Prevention
- Anti-Money Laundering
- Others
By Enterprise Size
- Small And Medium Enterprises (Smes)
- Large Enterprises
By Industry
- BFSI
- IT & Telecom
- Healthcare
- Government
- Education
- Retail & Cpg
- Media & Entertainment
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the AI in Fraud Management market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global AI in Fraud Management Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the ai in fraud management market include IBM Corporation, Cognizant, Temenos AG, Capgemini SE, Subex Limited, JuicyScore, Hewlett Packard Enterprise, MaxMind, Inc., BAE Systems plc., Pelican, SAS Institute Inc., Splunk, Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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