The Latin America, Middle East and Africa Fraud Detection and Prevention Market is expected to witness market growth of 20.5% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Fraud Detection and Prevention Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $2.56 billion by 2031. The Argentina market is registering a CAGR of 21.1% during 2024-2031. Additionally, the UAE market would witness a CAGR of 19.3% during 2024-2031.
Industries like banking, fintech, e-commerce, and insurance are leading adopters of these solutions due to their high transaction volumes and exposure to fraud risks. Organizations can create adaptive, multi-layered security frameworks that proactively detect and prevent fraud by integrating AI, machine learning, behavioral biometrics, and multi-factor authentication. As a result, real-time fraud detection has become a critical component in protecting businesses and customers in today’s fast-moving digital economy.
The rapid rise in digital identity fraud has led businesses to adopt advanced identity verification technologies as a crucial part of modern Fraud Detection and Prevention (FDP) systems. Solutions such as biometrics, eKYC, facial recognition, and automated document verification are increasingly used to prevent identity theft, account takeovers, and fraudulent transactions. These technologies enhance security by verifying users through unique physical traits or authentic documents while streamlining customer onboarding and ensuring regulatory compliance. As cyber threats evolve, robust digital identity verification has become essential for safeguarding businesses and maintaining customer trust in the digital economy.
The United Arab Emirates (UAE) has launched its National Cybersecurity Strategy, aiming to build a safe and resilient cyber environment. According to the ITA, the UAE's cybersecurity industry is projected to reach $4.51 billion by 2025, emphasizing the nation's focus on combating financial fraud and protecting digital identities. The rapid digital transformation of critical sectors such as finance, healthcare, and government services in these countries drives robust demand for FDP solutions as organizations seek to secure digital identities and protect sensitive information from evolving fraud schemes. Therefore, it is anticipated that the need for fraud detection and prevention solutions will increase dramatically over the next several years as businesses throughout the LAMEA area continue to adopt digital technology.
The Brazil market dominated the LAMEA Fraud Detection and Prevention Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $2.56 billion by 2031. The Argentina market is registering a CAGR of 21.1% during 2024-2031. Additionally, the UAE market would witness a CAGR of 19.3% during 2024-2031.
Industries like banking, fintech, e-commerce, and insurance are leading adopters of these solutions due to their high transaction volumes and exposure to fraud risks. Organizations can create adaptive, multi-layered security frameworks that proactively detect and prevent fraud by integrating AI, machine learning, behavioral biometrics, and multi-factor authentication. As a result, real-time fraud detection has become a critical component in protecting businesses and customers in today’s fast-moving digital economy.
The rapid rise in digital identity fraud has led businesses to adopt advanced identity verification technologies as a crucial part of modern Fraud Detection and Prevention (FDP) systems. Solutions such as biometrics, eKYC, facial recognition, and automated document verification are increasingly used to prevent identity theft, account takeovers, and fraudulent transactions. These technologies enhance security by verifying users through unique physical traits or authentic documents while streamlining customer onboarding and ensuring regulatory compliance. As cyber threats evolve, robust digital identity verification has become essential for safeguarding businesses and maintaining customer trust in the digital economy.
The United Arab Emirates (UAE) has launched its National Cybersecurity Strategy, aiming to build a safe and resilient cyber environment. According to the ITA, the UAE's cybersecurity industry is projected to reach $4.51 billion by 2025, emphasizing the nation's focus on combating financial fraud and protecting digital identities. The rapid digital transformation of critical sectors such as finance, healthcare, and government services in these countries drives robust demand for FDP solutions as organizations seek to secure digital identities and protect sensitive information from evolving fraud schemes. Therefore, it is anticipated that the need for fraud detection and prevention solutions will increase dramatically over the next several years as businesses throughout the LAMEA area continue to adopt digital technology.
List of Key Companies Profiled
- Dell Technologies, Inc.
- BAE Systems PLC
- IBM Corporation
- Oracle Corporation
- NICE Ltd.
- SAP SE
- SAS Institute Inc.
- Fair Isaac Corporation (FICO)
- NCR Corporation
- ACI Worldwide, Inc.
Market Report Segmentation
By Component
- Solution
- Fraud Analytics
- Authentication
- Governance, Risk, and Compliance
- Services
- Professional Services
- Managed Services
By Organization
- Large Enterprises
- SMEs
By Application
- Payment Fraud
- Identity Theft
- Money Laundering
- Other Application
By Vertical
- BFSI
- Retail & E-commerce
- IT & Telecom
- Government & Defense
- Healthcare
- Industrial & Manufacturing
- Other Vertical
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Fraud Detection and Prevention Market by Component
Chapter 6. LAMEA Fraud Detection and Prevention Market by Organization
Chapter 7. LAMEA Fraud Detection and Prevention Market by Application
Chapter 8. LAMEA Fraud Detection and Prevention Market by Vertical
Chapter 9. LAMEA Fraud Detection and Prevention Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Dell Technologies, Inc.
- BAE Systems PLC
- IBM Corporation
- Oracle Corporation
- NICE Ltd.
- SAP SE
- SAS Institute Inc.
- Fair Isaac Corporation (FICO)
- NCR Corporation
- ACI Worldwide, Inc.
Methodology
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