What is the current market size and future outlook for the ai in fraud management market?
The AI in fraud management market size has grown rapidly in recent years. It will grow from $13.05 billion in 2024 to $15.64 billion in 2025 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to increasing cyber threats, data breaches, increasing transaction volumes, cost of fraud, awareness and education.
The AI in fraud management market size is expected to see rapid growth in the next few years. It will grow to $31.69 billion in 2029 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to AI integration in business processes, advancements in explainable AI, globalization of fraud, continued regulatory emphasis, integration of real-time data streams. Major trends in the forecast period include rapid technological advancements, regulatory compliance, collaborative fraud detection networks, behavioral biometrics adoption, convergence of AI and blockchain.
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How has the ai in fraud management market evolved, and what factors have shaped its growth?
The rising popularity of digital payments and cross-border transactions is expected to propel the growth of AI in the fraud management market going forward. The increasing popularity of digital payments and cross-border transactions is driven by convenience, allowing users to transact anytime, anywhere, using mobile devices or computers. The integration of AI in fraud management is essential for maintaining the security and trustworthiness of digital payment systems and protecting users and businesses from fraudulent activities. For instance, according to the National Payments Corporation of India (NPCI), an India-based organization that operates retail payments, the overall transaction value of UPI at the end of the calendar year 2022 was INR 125.95 trillion (USD 1.52 trillion), rising 1.75 times year on year (YoY). Additionally, the entire value of UPI transactions accounted for over 86% of India’s GDP in FY 22. Therefore, the rising popularity of digital payments and cross-border transactions is driving the growth of AI in the fraud management market.
What are the major segments of the ai in fraud management market?
The AI in fraud management market covered in this report is segmented –
1) By Solution: AI-Powered Fraud Prevention Software, Services
2) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
3) By Application: Identity Theft Protection, Payment Fraud Prevention, Anti-Money Laundering, Other Applications
4) By Industry: Banking, Financial Services And Insurance, IT And Telecom, Healthcare, Government, Education, Retail And Consumer packaged goods (CPG), Media And Entertainment, Other Industries
Subsegments:
1) By AI-Powered Fraud Prevention Software: Real-Time Transaction Monitoring, Fraud Detection And Analysis Tools, Risk Scoring And Assessment Solutions
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Managed Fraud Detection Services
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Which companies dominate the ai in fraud management market?
Major companies operating in the AI in fraud management market are Trusteer, Hewlett Packard Enterprise, BAE Systems plc, Capgemini SE, Cognizant Technology Solutions India Private Limited., SAS Institute Inc., Splunk Inc., Temenos AG, Shift Technology SAS, Pelican Products Inc., Riskified Ltd., NICE Actimize Inc., Jumio Corp., Onfido Ltd., Subex Limited, BehavioSec Inc., Arxan Technologies Inc., Socure Inc., ACTICO GmbH, BioConnect Inc., Matellio Inc., MaxMind Inc., Zest AI Inc., Chargeback.com Inc., Brighterion Inc.
How will evolving trends contribute to the growth of the ai in fraud management market?
Major companies operating in the AI fraud management market are focusing on technological advancements such as a generative AI-facilitated fraud solution to improve real-time fraud defense. Generative AI fraud solutions are a technique that utilizes generative AI models to create deceptive content such as text, images, or voices to identity theft, financial scams, and disinformation. For instance, in October 2023, DataVisor, a US-based fraud and risk detection software developer, launched the AI Co-Pilot, a generative AI-facilitated fraud solution. This unique tool uses Generative AI to automate fraud detection, reduce false positives, and reduce user friction in real-time. The tool implements AI Co-Pilot into their fraud prevention methods and financial institutions to improve their ability to detect fraudulent activity while maintaining a consistent client experience. The system provides benefits such as automatic rule tweaking, feature script production and debugging, and rule description generation.
What are the key regional dynamics of the ai in fraud management market, and which region leads in market share?
North America was the largest region in the AI in fraud management market in 2024. The regions covered in the AI in fraud management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The AI In Fraud Management Market Report 2025 Offer?
The ai in fraud management market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Artificial intelligence (AI) in fraud management refers to the use of advanced technologies, algorithms, and machine learning techniques to detect, prevent, and mitigate fraudulent activities in various domains. The purpose of AI in fraud management is to enhance the detection and prevention of fraudulent activities in real-time, with automating the fraud detection process, increasing efficiency and reducing the time required to identify and respond to fraudulent activities.
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