According to a new report, published by KBV research, The Global Crime Risk Report Market size is expected to reach $30.92 billion by 2031, rising at a market growth of 20.0% CAGR during the forecast period.
The rising mobile usage is significantly driving the market's growth, particularly in the context of cybercrimes. According to the World Economic Forum, more than 8.58 billion mobile subscriptions were in use worldwide in 2022, compared to a global population of 7.95 billion. As more individuals and businesses rely on mobile devices for financial transactions, communications, and data storage, cyber threats such as phishing, identity theft, and ransomware attacks are increasing.
The Cloud segment is poised to grow at a CAGR of 20.3 % during the forecast period. The increasing adoption of cloud-based solutions is driven by their scalability, ease of deployment, and cost-effectiveness. Businesses and government agencies prefer cloud-based crime risk reports due to their real-time accessibility and integration capabilities with other digital tools.
The Financial & Cybercrime segment led the maximum revenue in the Global Crime Risk Report Market by Type in 2023, thereby, achieving a market value of $11.02 billion by 2031. Rising incidents of financial fraud, identity theft, and cyberattacks have fuelled the demand for detailed crime risk assessments in this category. Businesses and financial institutions increasingly rely on these reports to detect fraudulent activities, enhance security measures, and comply with regulatory requirements.
The Government segment is growing at a CAGR of 19.4 % during the forecast period. Law enforcement agencies, municipal authorities, and national security organizations heavily rely on crime risk reports for policy-making, crime prevention strategies, and resource allocation. These reports help identify high-risk areas, predict criminal activities, and enhance public safety measures.
Full Report: https://www.kbvresearch.com/crime-risk-report-market/
The North America region dominated the Global Crime Risk Report Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $11.12 billion by 2031. The Europe region is anticipated to grow at a CAGR of 19.8% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 20.6% during (2024 - 2031).
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