The Global FDP Market Size is Projected to Grow 19.1%

Friday 2 June 2023, Amsterdam

The global FDP market size is projected to grow from USD 27.7 billion in 2023 to USD 66.6 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period.

The rapid expansion of the FDP market can be attributed to several key driving factors. First and foremost, the increased use of digital technologies and the Internet of Things (IoT) across industries have created vulnerabilities that fraudsters exploit. Additionally, businesses face rising revenue losses and chargebacks due to fraud, necessitating the adoption of fraud analytics and risk-based authentication solutions to combat these threats effectively. These market dynamics underline the growing demand for advanced solutions that can protect businesses from emerging fraud threats, mitigate financial losses, and enhance fraud detection capabilities.

In terms of services, the professional services segment is projected to hold the largest market share in the FDP market. Professional services play a crucial role in the FDP solution ecosystem, requiring high technical skills and expertise. Many FDP solution vendors offer customized professional and consulting services to meet specific client requirements. These services encompass training, risk assessment, deployment of advanced FDP solutions, and the replacement of existing ones. As organizations prioritize the adoption of robust FDP solutions, the demand for professional services is expected to grow significantly.

With a projected growth from USD 27.7 billion in 2023 to USD 66.6 billion by 2028, at a CAGR of 19.1%, the FDP market is witnessing remarkable expansion. Factors driving this growth include increased use of digital technologies, rising fraud-related losses, and the adoption of fraud analytics and risk-based authentication solutions. Banking and finance hold the largest market share, while healthcare exhibits the highest CAGR. North America leads in market size, while Asia Pacific shows the highest CAGR.