DALLAS, July 16, 2015 /PRNewswire/ --
According to a new market research report, "Fraud Detection & Prevention and Anti Money Laundering Market by Vertical (Banking & FS, Insurance, Energy & Utilities), Type (Fraud Authentication, Analytics and GRC), Geography (US, Canada, UK, Spain and Chile) - Global Trends & Forecasts to 2019", published by MarketsandMarkets, Fraud Detection & Prevention and Anti Money Laundering Market to grow from $9.62 Billion in 2014 to $21.4 Billion by 2019, at a CAGR of 17.4% from 2014 to 2019.
Browse 88 market data Tables and 79 Figures spread through 132 Pages and in-depth TOC on "Fraud Detection & Prevention and Anti Money Laundering Market"
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The market report defines and segments the market into various segments with an in-depth analysis and forecast of revenue. This research report also identifies the factors driving this market, various restraints impacting it, along with future roadmaps.
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Fraud Detection & Prevention And Anti-Money Laundering Market have been analyzed on the basis of three categories. These are industry verticals, end user size (SME and Large enterprises) and types of FDP market (fraud analytics, fraud authentication, GRC solutions, and reporting and visualization tools). Industry verticals have been analyzed separately for FDP and AML markets. Twelve industry verticals have been analyzed for FDP Market and two for AML Market. FDP market has been covered for the following industry sectors - banking & financial services & insurance (BFSI), retail, telecommunication & IT, healthcare, energy & utilities, government & public sector, manufacturing, real estate, media & entertainment, transportation and education. For AML market the industry verticals of BFSI and real estate has been analyzed. Five countries have been covered to analyze the FDP & AML market - US, Canada, UK, Spain and Chile.
The requirement of FDP solutions varies from vertical to vertical which is based on the nature of the business. It also changes with the demand pattern across verticals. Same applies to organizations as well. Every organization has different set of requirements which mostly revolves around the available IT infrastructure and the IT skills and capabilities. Some organizations rely on traditional internal control methods, however, some use highly sophisticated solutions based on newer technologies. It generates two types of organizational sets, one with very high technical capabilities and the other with mediocre or low level technical capabilities. In such scenario, the demand pattern also changes when it comes to fraud detection and prevention solutions. Organizations with high technical expertise raise demands in accordance with their requirement. However, organizations with low level of technical expertise prefer more standardized solutions and offerings.
In NA and Europe, the regulatory environment is very favorable for FDP market to grow. Enterprises abide by regulations and legislatures to deploy FDP solutions as it motivates organizations to bring more transparencies in internal processes, which helps identify fraudulent activities across the organizational hierarchy. In APAC and Latin America, regulatory environment is becoming stricter which will ultimately increase the demand for FDP solutions and services and in turn the FDP market growth.
The ecosystem of FDP market comprises of business intelligence solution providers, system integrators & distributors, fraud analytical solution providers, fraud authentication service providers and GRC service providers. The major solution providers in the Fraud Detection & Prevention And Anti-Money Laundering Market are TransUnion, cVidya, ValidSoft, Nice Actimize, Experian, Easy Solutions, ACI Worldwide Inc., and Lavastorm Analytics.
MarketsandMarkets expects the global Fraud Detection & Prevention and Anti Money Laundering Market to grow from $9.62 Billion in 2014 to $21.4 Billion by 2019, at a CAGR of 17.4% from 2014 to 2019.
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