Market of deception Technology grow to $ 5.8 billion by 2031

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  • The global fraud technology market will generate USD 1.8 billion in 2021 and is expected to reach USD 5.8 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031. This report provides an in-depth analysis of top winning strategies, evolving market trends and market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape, and regional landscape.

This report is a useful source of information for new entrants, stockholders, trailblazers and stockholders to introduce the necessary strategies for the future and take essential steps to significantly strengthen and expand their market position.

The COVID-19 outbreak has had a positive impact on the growth of the global fraud technology market due to the emergence of lockdowns in various countries around the world.

Lockdowns have resulted in the closure of various stores, businesses and manufacturing industries due to the strict social distancing restrictions imposed by governments of various countries around the world at the time. As a result, more and more people have been forced to stay indoors, resulting in a significant surge in Internet penetration and increased demand for fraudulent technology.

This report offers an in-depth segmentation of the global fraud technology market based on product, fraud stack, company size, industry sector and region. This report provides a comprehensive analysis of each segment and respective sub-segments using graphical and tabular representations.

Additionally, the increasing number of cyber-attacks and growing popularity of cloud security and AI-integrated solutions are expected to further increase the demand for fraud techniques in the coming years.

This analysis is fundamental for market participants, investors, and new entrants to determine and develop strategies based on the fastest growing segments and highest revenue generation mentioned in the report.

Based on supply, the solutions segment held the largest market share accounting for nearly two-thirds of the global market in 2021 and is expected to maintain its leading position during the forecast period. On the other hand, the service segment is expected to exhibit the fastest CAGR of 13.5% during the forecast period.

Based on the deception stack, the network security segment will hold a dominant market share in 2021, holding half of the global market and is expected to maintain its leading position during the forecast period. On the other hand, the application security segment is expected to register the fastest CAGR of 14.2% during the forecast period. Based on industry verticals, the BFSI segment will hold the largest market share with nearly a quarter of the global market in 2021 and is expected to maintain its leading position during the forecast period. On the other hand, the healthcare segment is expected to register the fastest CAGR of 15.7% during the forecast period.

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