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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