Overview and Scope
A crime risk report is a comprehensive analysis of crime data that provides information on the likelihood of crime occurring in a specific area. It also provides valuable insights into the crime patterns and trends in a specific location, which can help businesses and individuals make informed decisions about their safety and security.
Sizing and Forecast
The crime risk report market size has grown rapidly in recent years. It will grow from $8.6 billion in 2023 to $10.12 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to increasing frequency and sophistication of cyber threats, high-profile cybersecurity incidents, digital transformation and growing attack surface, increasing dependency on digital infrastructure..
The crime risk report market size is expected to see rapid growth in the next few years. It will grow to $19.39 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The growth in the forecast period can be attributed to emergence of new cyber threat vectors, elevated concerns about supply chain cybersecurity, integration of crime risk management into business strategy, focus on insider threats and employee training, rise in cyber insurance adoption.. Major trends in the forecast period include rise of ransomware attacks, cloud security challenges, human-centric cybersecurity strategies, continuous monitoring and threat intelligence, collaboration and information sharing..
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Segmentation & Regional Insights
The crime risk report market covered in this report is segmented –
1) By Type: Financial And Cybercrime, Personal, Property, Other Types
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By Application: Banking, Financial Services and Insurance (BFSI),Government, Real Estate, Other Applications
North America was the largest region in the crime risk report market in 2023. Asia-Pacific is expected to be the fastest-growing region in the crime risk report market report during the forecast period. The regions covered in the crime risk report market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising cyber crime cases are expected to propel the growth of the crime risk report market. Cybercrime is criminal activity carried out digitally or by the spread of malicious software, which can compromise sensitive information. Crime risk reports can help prevent cyber threats such as hacking, phishing, and malware attacks, and industries are increasingly relying on them to identify potential vulnerabilities and mitigate risk to protect their assets and data from cyber threats. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cyber crime reports received in 2022 were 76,000, up from 13% from the previous year. Therefore, the rising cyber crime cases will drive the growth of the crime risk report market going forward.
Key Industry Players
Major companies operating in the crime risk report market are focusing on Financial Crime Risk SaaS solution to gain a competitive edge in the market. A financial crime risk SaaS solution is a cloud-based software-as-a-service offering designed to proactively mitigate and manage financial crime risks within organizations, providing real-time monitoring, analysis, and compliance functionalities. For instance, in May 2022, Fenergo, a Dublin-based SaaS -based solutions company, launched FinCrime Risk. FinCrime Risk is an API-first software as a service (SaaS) solution designed to consolidate and automate risk assessment procedures and expedite anti-money laundering (AML) compliance across all business lines and geographical locations. This technology helps financial institutions to centralize risk assessment, digitalize manual operations, and increase operational efficiencies while improving customer onboarding experiences. It delivers extensive, holistic client and entity risk profiles that can be accessed by any authorized user from any integrated platform.
The crime risk report market report table of contents includes:
1. Executive Summary
2. Crime Risk Market Characteristics
3. Crime Risk Market Trends And Strategies
4. Crime Risk Market – Macro Economic Scenario
5. Global Crime Risk Market Size and Growth
….
31. Global Crime Risk Market Competitive Benchmarking
32. Global Crime Risk Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Crime Risk Market
34. Crime Risk Market Future Outlook and Potential Analysis
35. Appendix
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