North America Fraud Detection and Prevention Market Size, Share, and COVID-19 Impact Analysis, By Solution Type (Fraud Analytics Solutions, Authentication Solutions, and Governance, Risk, and Compliance Solutions), By Application (Banking, Financial Services, and Insurance, Retail and E-Commerce, Government and Public Sector), and North America Fraud Detection and Prevention Market Insights Forecasts to 2035

• The North America Fraud Detection and Prevention Market Size Was Estimated at USD 13.67 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of Around 19.2% from 2025 to 2035
• The North America Fraud Detection and Prevention Market Size is Expected to Reach 94.36 USD 205.6 Billion by 2035

According to a research report published by Spherical Insights & Consulting, the North America Fraud Detection and Prevention Market size is anticipated to reach USD 94.36 Billion by 2035, growing at a CAGR of 19.2% from 2025 to 2035. The market is driven by the robust technological infrastructure and the presence of major financial institutions. The Country’s significant e-commerce activity, along with its large-scale adoption of digital payment systems.

Market Overview

Fraud Detection and Prevention (FDP) is a collective term for the various means, instruments, and technologies that organizations implement to recognize, inhibit, and minimize the impacts of fraudulent activities. The process comprises the constant supervision of transactions, thorough data examination, and the enforcement of the controls to recognize and thwart the activities that are already being planned but not yet causing damage. Fraudulent activ

ities like identity theft, payment fraud, unauthorized access to accounts, insurance fraud, fraud committed by employees, phishing attacks, and any other illegal actions to acquire financial benefits fall under the same category in this context.

The Canadian Anti-Fraud Centre had already reported a total of over 49,432 identity theft cases by the end of 2024, and this scenario made it even more vital for companies to allocate resources for the technologies that would detect fraud. The deployment of FDP technologies is additionally backed by the Personal Information Protection and Electronic Documents Act (PIPEDA) of Canada, which obligates companies to apply heavy-duty protection measures for the secure handling of personal data.

North America maintained its leading market position in 2024, accounting for more than 32.8% of the worldwide market. However, the U.S. continued to be the largest market in North America and earned USD 5.23 billion in revenue in 2024. Canada and Mexico possess tiny but increasing shares of 3.54% and 0.86% respectively, thereby supporting the region's powerful position.

McKinsey & Company, a company that applies AI-driven solutions, could cut fraud losses by half at most. The Capacity of these AI-driven solutions to cut losses by half is the same. A survey by the American Bankers Association showed that 70% of consumers would be more loyal to a financial institution that gives priority to security and fraud prevention.

Report Coverage

This research report categorizes the market for the North America fraud detection and prevention market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America fraud detection and prevention market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America fraud detection and prevention market.

Driving Factors

The fraud detection and prevention market in North America is driven by the digital transition of sectors such as healthcare, finance, and government has been a factor that has made the use of digital services widespread, thus increasing the risk of fraud and the necessity for strong prevention methods. The finance, retail, and healthcare businesses have to constantly enhance their security practices so as to fight against the increasingly sophisticated cyber threats. In 2020, the monetary losses due to cybercrime reached $4.2 billion, which was a significant rise when compared to previous years. The increase in e-commerce and mobile banking transactions is the fastest-growing factor among others. Online retail sales reached $870 billion in 2021, representing a 24.2% rise over the previous year.

Restraining Factors

The fraud detection and prevention market in North America is restrained by the constantly changing and upgrading of the fraud methods that cybercriminals are using. The type of activities being done to exploit the weaknesses in systems owing to technology is blocking the increase in the market. The Federal Bureau of Investigation's report for 2021 showed more than 847000 incidents of fraud reported and over $6.9 billion in losses, thus pointing out a continual and escalating danger. Concerns over data privacy are the second challenge. A poll conducted by the International Association of Privacy Professionals indicated that 70% of companies faced difficulties in finding a way to meet the requirements of the privacy laws while still implementing effective fraud detection.

Market Segmentation

The North America fraud detection and prevention market share is categorised into solution type and application.

• The fraud analytics solutions segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. 

The North America fraud detection and prevention market is segmented by solution type into fraud analytics solutions, authentication solutions, and governance, risk, and compliance solutions. Among these, the fraud analytics solutions segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. The segment is expected to grow by 45.2% in 2024 as a result of the increasing demand for organizations to use data-driven insights for the proper identification and mitigation of fraudulent activities. The Association of Certified Fraud Examiners has reported that companies that apply fraud analytics can cut their fraud losses by as much as 50%.

• The banking, financial services, and insurance segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.  

Based on application, the North America fraud detection and prevention market is segmented into banking, financial services, and insurance, retail and e-commerce, government and public sector. Among these, the banking, financial services, and insurance segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Market growth is the key factor for the segment to grow and to gain a share of 50.3% in the year 2024. The primary reason for this supremacy comes from the large sums of money moved through financial transactions and the high security of the customer data that is involved. The Federal Trade Commission pointed out that more than $3.3 billion was lost due to financial fraud in 2021, which highlights the necessity of having fraud detection solutions that work perfectly in this particular sector.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America fraud detection and prevention market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companie                                                                                                                  

• Signifyd
• SEON
• Altex Soft
• ACI Worldwide
• Fiserv Inc
• BAE Systems PLC
• Equifax Inc
• Dell Technologies Inc
• International Business Machines Corp
• Oracle Corp
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2025, CARFAX Canada launched VIN Fraud Check. This new tool alerts vehicle dealers if a vehicle's Vehicle Identification Number (VIN) contains data indicating potential fraud, or if it has been reported stolen in North America.

• In April 2024, Cognizant and FICO launched a cloud-based real-time payments fraud prevention solution designed for North American banks and other payment service providers.

Market Segment

This study forecasts revenue at the North America, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the North America Fraud Detection and Prevention Market based on the below-mentioned segments:

North America Fraud Detection and Prevention Market, By Solution Type

• Fraud Analytics Solutions
• Authentication Solutions
• Governance, Risk, and Compliance Solutions

North America Fraud Detection and Prevention Market, By Application

• Banking, Financial Services, and Insurance
• Retail and E-Commerce
• Government and Public Sector