LOS ANGELES, May 09, 2019 (GLOBE NEWSWIRE) -- The Global Crime Risk Report Market is estimated to grow at CAGR above 20.6 % over the forecast time frame 2019-2026 and reach the market value around USD 16 billion by 2026.
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Increasing criminal cases have also resulted in significant market growth, with the government and law enforcement agencies pursuing criminal risk consulting companies. The increasing incidence of murder and bribery in countries such as Brazil, Mexico and the US is another factor that will lead the market in the projected period. Crime risk reports are further boosting market growth in increasing demand from healthcare organizations, financial service providers and the private industries. The market over the forecast period is expected to increase the awareness of adequate safety measures to curb illegal activity among organizations. Furthermore, these reports allow users to conduct a thorough risk assessment based on clients, areas, services and products. The CRIMECAST report, for example, provides information on illegal activities against land and persons at the regional and domestic level including color coded Risk Intelligence maps outlining risk, the past, current and future crime statistics and risk statistics Index of CAP, Inc. This is expected to increase demand. Companies operating on the market in the United States should ensure compliance with certain state and federal rules. 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.
Regional Stance
In the North American region, more than USD 1.5 billion were the biggest turnover in 2018. Due to an increasing number of cases, such as identity theft, bankruptcy, ransomware and e-mail hacking, as well as account theft, it is expected to continue to develop in the years forecast. Violence in the region, as these reports apply to programs designed and carried out to prevent violence against women and minors, is expected to increase.
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In the North American region, more than USD 1.5 billion were the biggest turnover in 2018. Due to an increasing number of cases, such as identity theft, bankruptcy, ransomware and e-mail hacking, as well as account theft, it is expected to continue to develop in the years forecast. Violence in the region, as these reports apply to programs designed and carried out to prevent violence against women and minors, is expected to increase.
Over $1.5 billion in 2018 represented the largest turnover in the North American region. Due to the increasing number of cases, including identity theft, bankruptcy, ransomware, email hacking and account theft, the forecast years are likely to continue. Violence in the region is expected to increase because these reports cover programs designed and implemented to avoid violence against women and children.
Market Snapshots
From 2019 to 2026, 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 rising at a 23.9% CAGR over period 2019 to 2026.
The North American market, on the other hand, is projected to be in the forecast year 2019 to 2026 largest crime risk report.
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Competitive Outlook
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 AP 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.
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