Another study by Cisco stated that “53% of organizations host at least 50% of their infrastructure in the cloud.” The investment in cloud services and shifting of businesses from traditional to cloud are expected to accelerate the adoption of cloud-based solutions and services by enterprises.
#Maxmind fraud detection system software#
In deployment mode, cloud deployment to grow at a higher CAGR during the forecast periodĪccording to Flexera, a computer software company, enterprises are set to spend around 15-16% of their revenue into cloud hosting services by 2020. These services are enabling enterprises to safeguard their on-premises systems, data centers, cloud, and virtualized environments. The adoption of FDP solutions is growing consequently, which boosts the adoption of FDP services. FDP solutions built on ML algorithms, such as deep learning, neural network, and support vector machines, are capable of providing defense against those threats whose patterns and signatures are not available. The growth in the FDP solutions industry is associated with the increasing number of ransomware and endpoint breaches, and the growing cloud environment. Hence, FDP vendors are coming up with new varieties of FDP solutions to detect and prevent all types of frauds committed by fraudsters.īrowse in-depth TOC on "Fraud Detection and Prevention Market”īy component, Solutions segment to hold the largest market size during the forecast period
#Maxmind fraud detection system update#
This, in turn, increases the need to update legacy manual fraud detection methods. These factors have led to the adoption of automatic software-based applications for analyzing data in real time, which have replaced the traditional data mining applications and tools. Technological advancements, penetration of digital technologies, and Bring Your Own Device (BYOD) trend in organizations have greatly influenced work practices and led to an unprecedented rise in data volumes. According to a new market research report "Fraud Detection and Prevention Market by Solution (Fraud Analytics, Authentication, and GRC), Service (Managed and Professional), Vertical (BFSI, Retail and eCommerce, and Travel and Transportation), Deployment Mode, and Region - Global Forecast to 2025" published by MarketsandMarkets™, the market size expected to grow from USD 20.9 billion in 2020 to USD 38.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period.
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