There are numerous advantages to companies in crime risk reports. For example, the report provides a structured approach to risk management, a better understanding of the context of illegal activity, facilitates decision-making and helps to produce reproducible outcomes. Furthermore, the reports help to identify, assess, analyze and mitigate risks, which ultimately contribute to market growth. These reports also support organizations in the allocation and decision making processes related to security budgets.
The report provides analysis of global Crime Risk Report market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. According to Acumen Research and Consulting, the global Crime Risk Report market is expected to grow at noteworthy CAGR around 20.6 % throughout the forecast period and reach around US$ 16 billion by 2026.
Due to rising criminal cases, governments and law enforcement agencies are pursuing crime risk consulting companies, there has also been significant growth in the market. Another factor that is expected to lead 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 private industries for criminal risk reports further boost market growth. Awareness of adequate safety measures to curb unlawful acts amongst organizations is expected to increase the market over the forecast period. In addition, such reports allow users, based on clients, areas, services and products, to conduct an extensive risk assessment. Including color coded Risk Intelligence maps that outline risk, past, current and future crime statistics and risk statistics, for example the CRIMECAST report provides information about unlawful acts against property and people at the regional, and domestic level. CAP index, Inc. It is anticipated that this will increase demand. In the United States, companies operating on the market must ensure that certain state and federal regulations have been complied with. Unregulated companies could be subject to potential restrictions on the provision of predictive analyzing support services if they fail to comply with these regulations. In the forecast period, this is expected to impede market growth.
In the forecast period, the market is expected to drive growing threats from domestic and external terrorists and the growing number of financial frauds like fraudulent investments, ponzi schemes, illegal online lottery and money laundering activities. Crime risk analytical solutions are designed to collect information on crime from law enforcement agencies and to predict crime rates statistically for each type of crime. As criminal cases in the world increase, the need for such solutions is growing.
More and more people are forcing individuals to consult crime-related risk companies, like homicides and abductions. Finding preemptive measures is also a matter of property crimes, such as carjacking, burglaries, robberies and gun-point robberies. The growth of this market in the forecast period will be driving these factors. The rapid adoption of new, innovative technologies such as IoT and Big Data increases network and system complexities and security challenges. This factor will also contribute to the growth of the market in future years.
The market is divided into financial & cybercrime, personal crime, real estate crime and others on the basis of type. This segment of finance and cyber crime led the market and in 2018 it was estimated at USD 1.62 billion. Increasing numbers of cyber attacks such as malware, phishing and brute force attacks are encouraging organisations, as counter-measurements to mitigate the risk of crime, to consider effective security solutions.
The segment growth is expected to be stimulated. Intelligence, social media and network information are used by attackers to disintegrate into business processes that result in business downtime. In addition, fraudulent financial transactions continue to necessitate the consultation of organizations with security solutions to risk consulting businesses. These factors should contribute to the market growth during the forecast period.
In the region of North America, the largest turnover in 2018 was more than USD1.5 billion. It is expected to further develop over the predicted years due to an increasing number of cases such as identity robbery, credit card fraud, ransomware and e-mail hacking, as well as account theft. Cases of violence in the region are expected to grow, as these reports apply when designing and implementing programs aimed at preventing violence against women and minors.
In addition, governmental agencies used crime risk reporting in the region to identify the impact on the economic sector of unlawful action and violence and its impact on the economic, cultural and demographic characteristics that make up the region's economic and social development. These reports also help to bridge the gap between countries in awareness and knowledge of the use of suitable strategies, programs, and capacity to ensure safer use of ICTs.
From 2019 to2026, the financial & cybercrime sectors are expected to record the highest CAGR because the growing cash losses associated with financial fraud and cybercrimes prompt legal enforcement agencies to curb these crimes.
The fastest growing regional market in Asia Pacific is expected to be 23.9% CAGR between 2019 to 2026.
The North American market, on the other hand, is projected to be in the forecast years ' largest crime risk report.
Some of the key companies in the market include CAP Index, Inc.; Pinkerton Consulting & Investigations, Inc.; Silva Consultants; and Verisk Analytics, Inc.; CCL Ltd.; CORELOGIC;
Global Crime Risk Report Market, By Type
Global Crime Risk Report Market, by Geography
The market research study on “Crime Risk Report Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Crime Risk Report market segments with market dynamics and their impact. The report also covers basic technology development policies.
Corelogic, Inc.; IBM Corporation, Intelligent Direct, Inc. (CRIMECAST Reports); PwC; Pinkerton Consulting & Investigations, Inc.; Silva Consultants; and Verisk Analytics. Inc., the leading companies in this market include CAP Index, Inc. CRIMECAST reports. The company aims at providing government agencies and other businesses with innovative solutions to minimize losses resulting from legal action, fraud, overall responsibility and crime against individuals and property. For example, in March 2018 a list of US ' 100 most dangerous towns and cities was published by Neighborhoodscout, a web-based platform of Location, Inc.
The list was used to compare safety ratings in the urban sphere and report the annual illegal act rate to the FBI in the U.S. Companies also stress working with companies to raise awareness of continued fraudulent market activities. In a joint report by Restaurant Loss Prevention and Security Association (RLPSA) and CAP Index, Inc. in August 2016, RLPSA members raised awareness of burglary and aggravation of assaults, and robbery among their members.