Social Media Fraud Detection Market Analysis

Fraud Type (Social Media Phishing, Malware Frauds)

The global social media fraud detection market is segmented and analyzed for demand and supply by fraud type into social media phishing, malware frauds, scams, counterfeit frauds, fraudulent advertisement, and others. Out of these types of frauds, the fraudulent advertisement segment is estimated to gain the largest market share in the year 2036. The growth of the segment can be attributed to the ease with which one can publish an advertisement on various social media platforms without having to disclose much information about themselves. As the number of social media users is growing, fraud is also becoming more and more prevalent. For instance, as of January 2023, the total number of people on social media across the globe was estimated to be around 4.5 billion. It has resulted in rising concern for social media security cyberbullying, hacking, relationship fraud, health issues, and social and family life loss. A significant portion of the global population is actively using social media on a regular basis through platforms such as Facebook, Twitter, Instagram, and WhatsApp. As a result, one can imagine how many people can be reached through fraudulent activities.

Component (Software, Services)

The global social media fraud detection market is also segmented and analyzed for demand and supply by component into software and services. Between these two segments, the software segment is expected to garner a significant share in the year 2036. The segment growth can be accounted the ease of access to the software as compared to services. Software applications are accessible from anywhere in the world with an internet connection. Also, the software applications can be updated and modified remotely, causing greater concern for fraudulent activities. Even though services are more personalized, the software can help cater to many people at once. As social networking services are growing, it has resulted in an increasing amount of sensitive information which is stored online and linked to social networking services accounts. Such a factor is anticipated to drive the growth of the software segment in the global social media fraud detection market.

Our in-depth analysis of the global market includes the following segments: