Artificial Intelligence
Cyber Risk Report Global Market Report 2023
New York, June 01, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Cyber Risk Report Global Market Report 2023” – https://www.reportlinker.com/p06464179/?utm_source=GNW
, Silva Consultants, Verisk Analytics Inc., ACI Worldwide Inc., Capco, Fenergo Inc., Fiserv Inc., Oracle Corporation, Refinitiv US Holdings Inc., RiskScreen, Mphasis Limited, and Capgemini SE
The global crime risk report market is expected to grow from $7.28 billion in 2022 to $8.55 billion in 2023 at a compound annual growth rate (CAGR) of 17.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The crime risk report market is expected to reach $16.08 billion in 2027 at a CAGR of 17.1%.
The crime risk report market includes revenues earned by entities by the sale of one-time or customized reports, subscription of regular reports, and related services such as consulting and risk management to specific clients.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
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.
North America was the largest region in the crime risk report market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of crime risk reports are financial and cybercrime, personal, property, and other types.Financial and cybercrime refer to criminal activities carried out through digital technologies to steal sensitive information or funds.
These solutions are deployed on-premises and cloud and by various organization sizes including large enterprises, and small and medium enterprises (SMEs). These are used in various applications such as banking, financial services and insurance (BFSI), government, real estate, and other applications.
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 2020, according to a report released by the US-based Federal Bureau of Investigation, a law enforcement agency, the number of reported cybercrimes increased by 69.4% compared to the previous year. The total number of reported cybercrime incidents was 791,790, with reported losses exceeding $4.1 billion. Therefore, the rising cyber criminal cases will drive the growth of the crime risk report market going forward.
Technological innovations are a popular trend in the crime risk report market.Major companies operating in the crime risk report are focused on developing new technologies to reinforce their position in the market.
Advanced technologies are needed to detect, prevent, and respond to cyber threats, and new technologies are being developed to address cyber risk.For instance, in January 2021, QuantaVerse, a US-based technology company, introduced an additional Financial Crime Investigation Report to address the specific needs of Level 1 AML compliance teams using AI and machine learning to automate identifications and reduce the average time spent investigating an alert by over 50%.
The QuantaVerse Financial Crime Platform employs artificial intelligence (AI) to automate the anti-money laundering (AML) investigation process and provides analysts with a variety of Financial Crime Investigation Reports (FCIRs) that highlight its conclusions.
In September 2021, BitSight, a US-based cybersecurity ratings company, acquired VisibleRisk for an undisclosed amount.The acquisition by BitSight was aimed to enhance ability to provide customers with a more complete and accurate view of their cyber risk posture and expand its global customer base.
VisibleRisk is a US based cybersecurity technology company that provides cybersecurity assessment and rating services to organizations.
The countries covered in the Crime Risk Report market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The crime risk report market research report is one of a series of new reports that provides crime risk report market statistics, including crime risk report industry global market size, regional shares, competitors with a crime risk report market share, detailed crime risk report market segments, market trends, and opportunities, and any further data you may need to thrive in the crime risk report industry. This crime risk report market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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