Crime Risk Report Market Size (2024 - 2029)

The crime risk report market is projected to expand significantly, driven by the increasing digitalization of banking systems and heightened concerns over data security and fraud detection. This growth is spurred by the rising incidence of banking-related fraud and the need for effective risk management solutions, prompting financial institutions worldwide to adopt crime risk management strategies. The market's expansion is further supported by the growing adoption of web-based banking and payment systems, which have escalated the risks of fraud and spam. Crime risk management solutions are being utilized across various sectors, including banking, insurance, and real estate, to mitigate these risks.

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Market Size of Crime Risk Report Industry

Crime Risk Report Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 16.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Crime Risk Report Market Key Players

*Disclaimer: Major Players sorted in no particular order

Crime Risk Report Market Analysis

The crime risk report market is anticipated to witness a CAGR of 16.0% over the forecast period 2021 - 2026. Factors, such as increased digitalization in the banking system, and concern for data security and fraud detection issues are anticipated to fuel the market growth. The surge in banking-related fraud and risk management are influencing the financial institutes across the globe to implement crime risk management solutions. With the growth in web-based banking and payment system, the risk of fraud and spams have increased over the last few years. Currently, crime risk management solutions are being implemented for various applications such as banking, insurance, real estate, and others.

  • Financial crime costs around USD 2.5 trillion per year which is equivalent to 3-4% of global GDP. Internet banking is expected to hold more than 70% share in the financial crime cost value, followed by mobile banking with more than 12%.
  • According to UK Finance Limited, fraud and scams have cost GBP 1.2 billion to the UK government in 2018, which is 75% of the spending on finance security systems by the country.

Crime Risk Report Industry Segmentation

Crime risk report includes various software solutions for several fraud and risk related applications such as merchant fraud detection, card relayed fraud assessment, money laundering detection, risk protection, and many others. All these solutions can be deployed in on-premise environment as well as on hosted cloud platform. 

By Deployment
On-Premise
Cloud
By Application
Banking
Insurance
Real Estate
Other Applications
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Latin America
Middle-East & Africa
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Crime Risk Report Market Size Summary

The crime risk report market is poised for significant growth, driven by the increasing digitalization of banking systems and heightened concerns over data security and fraud detection. The rise in banking-related fraud and the need for robust risk management solutions are compelling financial institutions worldwide to adopt crime risk management strategies. As web-based banking and payment systems expand, the incidence of fraud and spam has escalated, prompting the implementation of crime risk management solutions across various sectors, including banking, insurance, and real estate. The market is further bolstered by the adoption of cloud-based solutions, which offer competitive pricing, rapid innovation, and portfolio expansion, as seen with Oracle Corporation's enhancement of its Anti-Money Laundering solution for smaller banks.

The Asia-Pacific region is experiencing robust market growth due to its strong financial sector presence, rapid increase in internet banking users, and widespread deployment of cloud platforms for finance-related solutions. The region's significant share of global online retail transactions presents a lucrative opportunity for crime risk report solutions. Countries like China, Japan, South Korea, India, Singapore, and Australia are expected to drive market development, with increased IT spending by banks in China highlighting the potential for vendors in this space. The global market is characterized by fragmentation, with numerous regional and global players such as ACI Worldwide, Inc., Capco, CoreLogic, Inc., and others engaging in strategic partnerships, product innovation, and market expansion to secure leadership positions.

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Crime Risk Report Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Introduction to Market Drivers and Restraints

    3. 1.3 Market Drivers

      1. 1.3.1 Increased Digitalization in Banking Sector

      2. 1.3.2 Concern for Data Security and Fraud Detection

    4. 1.4 Market Restraints

      1. 1.4.1 Sceptical View on Data Privacy

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Deployment

      1. 2.1.1 On-Premise

      2. 2.1.2 Cloud

    2. 2.2 By Application

      1. 2.2.1 Banking

      2. 2.2.2 Insurance

      3. 2.2.3 Real Estate

      4. 2.2.4 Other Applications

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Rest of Asia-Pacific

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 Latin America

        2. 2.3.4.2 Middle-East & Africa

Crime Risk Report Market Size FAQs

The Crime Risk Report Market is projected to register a CAGR of 16% during the forecast period (2024-2029)

ACI Worldwide, Inc., Fenergo Ltd, Fiserv, Inc., IBM Corp. and Oracle Corporation are the major companies operating in the Crime Risk Report Market.

Crime Risk Report Market Report Snapshots

Crime Risk Report Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)