USD 2,945.3 million by 2028 while exhibiting a CAGR of 20.0% between 2021 and 2028. Fortune Business Insights, in its latest report, titled “Latin America Fraud Detection and Prevention Market, 2021-2028.”
, mentions that the market stood at USD 729.4 million in 2020. Factors such as the increasing incidence of data fraud and the rising adoption of mobile phones are expected to favor the product s demand in the forthcoming years. According to the latest Pew Research Center Survey, LATAM countries such as Argentina, Venezuela, and Chile have the most smartphone users. For instance, 83% of Argentines, 86% of Venezuelans, and 91% of Chileans own a cellphone.
Increasing Focus on Digitization amid COVID-19 Leads to Market Exhibiting 12.0% Growth Rate in 2020
The Latin America fraud detection and prevention market size is expected to gain momentum by reaching USD 2,945.3 million by 2028 while exhibiting a CAGR of