E-Commerce Fraud Prevention Market worth USD 303,870.4 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "E-Commerce Fraud Prevention Market by Fraud Type (Card Testing, Credit Card Fraud, Phishing, Identity Theft, Merchant Fraud, Refund Fraud), by Organization Size, by Industry (Aerospace & Defense, Banking, Financial Services & Insurance, Building, and Others) and by Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global E-Commerce Fraud Prevention market size is expected to grow at a CAGR of 20.6% from 2023 to 2033.

With the growth of mobile devices and the increasing use of mobile devices for online shopping, mobile commerce has become a significant contributor to the e-commerce industry. However, mobile devices are often less secure than desktop computers, making them more vulnerable to fraudulent activities. As a result, e-commerce fraud prevention solutions are needed to address these vulnerabilities. The e-commerce sector is the major factor propelling market growth over the forecast years. The companies indulged in delivering products online continuously grapple between providing efficient customer services and maintaining the delivery cost as low as possible. The delivery of products, from the production unit to the final user, is comprised of many process out of which last mile delivery is the costlier process, including a high wage rate of product delivering employees and growing demand for fast product delivery from customers. Thus, the growing transportation and logistic industry due to the need for last mile deliveries and the growing e-commerce sector has fostered the demand for the e-commerce fraud prevention market.

Hence, the rising e-commerce sector and supportive functioning of payment and fraud & prevention tools in the e-commerce sector is expected to create lucrative growth for the market growth. For instance: as per the Indian Brand Equity Foundation, the e-commerce sector stood for USD 38.5 billion in 2017 and is expected to grow to USD 200 billion by 2024. Similarly, as per the e-marketers report, China’s retail e-commerce sale stood at USD 1.52 trillion in 2018 and is projected to grow till USD 4.09 trillion by 2023. Moreover, various vendors are supporting and investing in deploying online portals besides selling their goods on third-party marketplaces. Thus, creating an era of digital retailing is another factor propelling the market's growth. 

Global E-Commerce Fraud Prevention Market Segmentation

The overall e-commerce fraud prevention market has been segmented into fraud type, organization size, industry, and region.

• By Fraud Type (Card Testing, Credit Card Fraud, Friendly Fraud, Identity Theft, Merchant Fraud, Phishing, and Refund Fraud)
• By Organization Size (Large Enterprises and Small & Medium-sized Enterprises)
• By Industry (Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology, and Others (Manufacturing, Media & Entertainment, Telecommunication, and Travel & Hospitality))
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Healthcare & Life Sciences segment is projected to witness the highest CAGR during the forecast period

Healthcare & Life Sciences segment is expected to grow at the highest CAGR during the forecast period. As the healthcare industry continues to move towards digitalization, there has been a significant increase in the number of online healthcare transactions, such as telemedicine consultations, online pharmacy purchases, and electronic medical records. However, this also opens up new opportunities for fraudsters to exploit vulnerabilities in the healthcare e-commerce system. To prevent fraud and protect patient data, healthcare organizations are increasingly investing in fraud prevention solutions, such as identity verification and fraud detection tools. These solutions are designed to identify fraudulent transactions in real-time and prevent them before they can cause harm.

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Asia Pacific accounts for the highest CAGR during the forecast period

The consumer debt in Asia Pacific has grown rapidly in recent years, driven by increasing internet penetration, rising smartphone usage, and expanding digital payment options. However, this growth also increases the risk of fraud, as cybercriminals seek to exploit vulnerabilities in the e-commerce system. To address this risk, businesses and governments in the Asia Pacific region increasingly invest in e-commerce fraud prevention solutions, such as identity verification, fraud detection, and chargeback management tools. These solutions are designed to protect businesses and consumers from fraudulent transactions and help build trust in the e-commerce ecosystem.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the e-commerce fraud prevention market. It also consists of the profiles of leading companies such as ACI Worldwide, Inc., Blackhawk Network Holdings, Inc., Bolt Financial, Inc., ClearSale LLC, DXC Technology Company, Equifax Inc., F5, Inc., Fiserv, Inc., Forter, Ltd., Fraud.com, Fraud.net Inc., Hexasoft Development Sdn. Bhd., Infosys Limited, International Business Machines Corporation, LexisNexis Risk Solutions Group, NortonLifeLock Inc., PayPal Holdings, Inc., Radial, Inc., Riskified, Ltd., RSA Security LLC, SEON Technologies Ltd., SHIELD AI Technologies Pte. Ltd., Sift Science, Inc., Signifyd Inc., Software AG, Stripe, Inc., and TransUnion LLC. The key players' growing research and development activities for developing innovative solutions are expected to drive market growth.

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