Crime Risk Report Market

Global Crime Risk Report Market Size (2024 to 2029)

The global crime risk report market is anticipated to be worth USD 27.07 billion by 2029 from USD 10.61 billion in 2024, growing at a CAGR of 20.6% from 2024 to 2029.

Crime risk reports provide numerous benefits to businesses. For example, the report offers a structured approach toward risk management, provides a far better understanding of the context of the unlawful act, facilitates decisions, and helps deliver reproducible results. Additionally, the report assists on a basis for evaluating, identifying, analyzing, and mitigating risks, which eventually drives the expansion of the market. These reports also companies in security-related budget allocation and decision-making processes.

Global Crime Risk Report Market Drivers:

Growing threats from internal and external terrorist activities plus the rising number of monetary frauds, like fraudulent investment scams, Ponzi schemes, illegal online lotteries, and concealing activities, are expected to drive the market over the outlook period. Crime risk analytics solutions are designed to gather crime data from enforcement agencies and statistically predict the crime rates for each individual sort of crime. The necessity for such solutions is growing thanks to increasing crime cases across the globe.

Rising demand for crime risk reports from healthcare organizations, financial service providers, and personal industries boosts the global crime risk report market growth. Moreover, such reports allow users to conduct an in-depth risk assessment supported by clients, geographies, services, and products. Besides, such reports allow users, supported clients, areas, services and products, to conduct an intensive risk assessment. Including color-coded Risk Intelligence maps that outline risk, past, current and future crime statistics and risk statistics, for instance, the CRIMECAST report provides information about unlawful acts against property and other people at the regional, and domestic levels. Within the USA, companies operating in the market must make sure that certain state and federal regulations are complied with. Unregulated companies might be subject to potential restrictions on the supply of predictive analyzing support services if they fail to fit these regulations, which can be expected to impede market growth in the coming years.

Due to rising criminal cases, governments and enforcement agencies are pursuing crime risk consulting companies, which has been a significant growth driver in the market. Another factor that's expected to steer the market over the forecast period is the increased incidence of homicide and bribery in countries like Brazil, Mexico and the USA. Increasing demands from healthcare organizations, financial service providers and personal industries for criminal risk reports further boost market growth. Awareness of adequate safety measures to curb unlawful acts amongst organizations is predicted to extend the market over the foreseen period.

Global Crime Risk Report Market Restraints:

Companies failing to make sure adherence and compliance with these regulations could subject them to possible restrictions in providing predictive analytics support services, which is expected to hinder the market growth over the forecast period.

Impact of COVID-19 on the global crime risk report market:

The coronavirus pandemic that impacted almost every country in the world has its effect also on industries and markets. The risk of a data breach has increased due to this pandemic because of the increase in the use of the Internet for banking, shopping, etc. This helps the crime risk report market to grow as organizations and individuals want to safeguard their data and systems.

REPORT COVERAGE:

This research report on the global crime risk report market has been segmented and sub-segmented based on type, organization size and region.

Global Crime Risk Report Market - By Type:

• Personal Crime
• Financial & Cybercrime
• Property Crime

The financial & cybercrime segment led the market and was valued at USD 1.62 billion in 2023. An increasing number of cyber-attacks, like malware, phishing, and brute force attacks, are prompting organizations to look into effective security solutions as a countermeasure to mitigate crime risks. Attackers are using open-source intelligence, social media, and network information to interrupt business processes leading to business downtime. Moreover, fraudulent financial transactions increase the need for organizations to consult crime risk consulting companies for security solutions. These factors are expected to contribute to the expansion of this segment in the worldwide market over the projection period.

Global Crime Risk Report Market - By Organization Size:

• Large Enterprises
• Small and Medium Enterprises (SMEs)

Global Crime Risk Report Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The North American market generated the largest revenue of USD 1.51 billion in 2023. It's projected to expand further during the forecast years on account of the rise in cases of fraud, ransomware attacks, email hacking, and account theft, which ends in an important need for risk consultations. Rising cases of violent acts within the region are anticipated to drive the demand further as these reports find application within the design and implementation of violence prevention programs that specialize in preventing violence against women and minors.

Furthermore, government agencies in this region use crime risk reports to spot the impact of unlawful acts and violence on the economic sector and its effects on the economic, cultural, and demographic attributes. The reports also help in bridging the gap between countries in terms of awareness and knowledge regarding the deployment of appropriate strategies, programs, and capabilities to confirm the safer use of knowledge and communication technologies.

KEY MARKET PLAYERS:

Key companies within the global crime risk report market include CAP Index, Inc. (CRIMECAST Reports), Location, Inc., PwC, CoreLogic, Inc., HackSurfer, IBM Corporation, CCL Compliance Limited, Intelligent Direct, Inc., Pinkerton Consulting & Investigations, Inc., Silva Consultants and Verisk Analytics, Inc. These companies specialize in providing innovative solutions to government agencies and other companies to assist them minimize losses resulting from lawsuits, fraud, general liability, and criminality against persons and property.

For example, In March 2018, NeighborhoodScout, a web-based platform of Location, Inc., released a listing of the 100 Most Dangerous Cities within the U.S. The list was used to compare city-wise safety ratings and to report the annual unlawful act rate within the U.S. to the FBI. In August 2016, the Restaurant Loss Prevention & Security Association (RLPSA) and CAP Index, Inc. jointly designed the Restaurant Industry Crime & Security Measure Usage Trends report back to raise awareness among RLPSA members regarding burglary, assault, and robbery.  

RECENT HAPPENINGS IN THE MARKET:

• In April 2020, the CAP Index released the updated classification system for 2020. The new database includes a variety of key changes to make sure the organization offers clients the foremost accurate data to live the likelihood of crime and loss at any address within the US, Canada, and the UK.