GITNUX MARKETDATA REPORT 2024

Web Fraud Detection Industry Statistics

The web fraud detection industry is expected to experience steady growth in the coming years due to increasing online transactions and evolving cyber threats.

Statistic 1

"One in every 100 online orders is fraudulent."

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Statistic 2

"The total cost of online payment fraud is forecasted to exceed $25 billion in 2024."

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Statistic 3

"Machine Learning technology can reduce overall spending on fraud detection by up to 20%."

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Statistic 4

"By 2023, the fraud detection and prevention market is expected to grow to $63.5 billion."

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Statistic 5

"In 2020, the average fraud rate for digital goods was 1.6%."

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Statistic 6

"33% of companies report losses exceeding 5% of revenue due to fraud."

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Statistic 7

"In 2020, the eCommerce industry lost over $42 billion to online payment fraud."

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Statistic 8

"Fraud detection tools saved the ecommerce industry an estimated $32 billion in 2020."

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Statistic 9

"North America has the largest fraud detection and prevention market, accounting for over 35% in 2020."

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Statistic 10

"Up to 45% of customers who experience fraud never return to the affected organization."

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Statistic 11

"The use of advanced analytics and biometrics for fraud detection has risen to 29%."

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Statistic 12

"70% of fraud detection technology users reported a high level of satisfaction with the technology."

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Statistic 13

"Fraud rates in mobile app transactions are about twice as high as those in PC e-commerce transactions."

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Statistic 14

"More than 16% of web traffic on e-commerce sites is fraud-related."

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Statistic 15

"About 90% of companies had been fraud victims at least once in the last year."

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Statistic 16

"By 2025, credit card fraud is expected to reach $32.96 billion globally."

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Statistic 17

"Account takeover fraud (ATO) losses reached $5.1 billion in the US in 2020."

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