Monday, December 5

Technology-enabled Services with 24×7 Presence Will Help

Rockville, Oct. 25, 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, has published a new report, which reveals that the global private investigation services market is estimated at US$ 18.2 billion in 2022 and is expected to evolve further at a CAGR of 4.5% between 2022 and 2032. The market is expected to grow due to the integration of technology into services and growing financial fraud across the world.

The global private investigation industry is looking promising due to an increase in the number of different frauds across the world. Rising incidents such as burglary, theft, property damage, kidnapping, and murder have also driven up the demand for private detective services.

For more insights into the Market, Request a Sample of this Report

Private investigation service providers are looking to acquire new customers by offering bundled services for corporates, 24X7 services, and tech-enabled services. The investigation industry as a whole is evolving after the tech boom. Customers are looking for those who are more accessible in comparison to their counterparts. Private investigation services require maintaining clients’ information and secrecy, thus requiring the utmost trust between customers and service providers.

Key Takeaways from Market Study

  • The global private investigation services market is projected to expand at a CAGR of 4.5% and be valued at US$ 28.2 billion by the end of 2032.
  • The market expanded at 3.9% CAGR from 2017 to 2021.
  • Under services type, employee verification services dominate the market and are valued at US$ 2.7 billion in 2022.
  • North America led the global market with 35% market share in 2021.
  • Demand for private investigation services is expected to increase at CAGRs of 4.7% and 6.2%, respectively, in Europe and South Asia & Oceania.

“Integration of technology coupled with increased unrest among society will push the private investigation industry to new heights,” says a Fact.MR analyst.

Market Development

The business environment in the investigation industry is witnessing a swift change towards the adoption of technology into its service offerings. Furthermore, market players are taking efforts to increase their customer base by focusing on diverse end users and regions.

  • In September 2022, Protos Security, one of the leading tech-enabled security firms, acquired MG Security Services. This will help Protos Security expand in the east coast area of the United States.

Key Companies Profiled

  • AAC Group
  • ACES Private Investigations Houston
  • AMX Detectives
  • Apple Investigations
  • Bill Robison Investigations
  • Bobby Dean Investigations
  • Canadian Special Investigations
  • Cunningham Investigations
  • Detective international
  • Foglight Investigations
  • Global Threat Solutions
  • Golden Shield Security services
  • IBM Investigations, LLC
  • IPI International Private Investigators
  • Lancer network limited
  • Private Detective London
  • Rhino Surveillance
  • Scope Investigations Limited
  • Securitas AB
  • Truth Investigations

Request more information about Report Methodology

Is the United States a Prominent Market for Private Investigation Services?

The American economy is extremely developed overall in all respects. The U.S. private investigation sector is crucial to maintaining the integrity and efficiency of the system. In 2022, the US market is expected to be worth roughly US$ 5.2 billion.

The way the private investigation industry operates and provides its services is changing quickly. Both clients and service providers have transformed as a result of the integration of technology. Surprisingly, despite the current economic climate, the U.S. Bureau of Labor Statistics predicts that the job outlook for private investigative services will increase by 6% over the next two years.

Segmentation of Private Investigation Services Industry Research

  • By Service:
    • Personal Services
      • Infidelity Check
      • Divorce
      • Surveillance & Shadowing
    • Corporate Services
      • Employee Verification
      • Competitor Investigation
      • Corporate Espionage
      • Financial Fraud Verification
      • Corporate Due Diligence
  • Legal Services
    • Labour Court Case
    • Domestic Violence
    • Tracing & Suspicious IP
    • Website Tracking
    • Asset Search
  • Other Services
    • Background Check
    • Debugging
    • Drug Abuse
    • Theft Investigation
    • Record Search
    • Others (Not Mentioned Elsewhere)
  • By End-use Industry:
    • BFSI
    • Agriculture and Forestry
    • Information Technology
    • Construction
    • Arts, Entertainment, and Recreation
    • Manufacturing
    • Transportation, Warehousing, and Utilities
    • Retail Trade
    • Educational Services
    • Public Administration
  • By Region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

Get Full Access of this Report through our PayPal Payment Option

Will BFSI Remain the Biggest Client of Private Investigation Firms?

One of the industries most impacted by various forms of fraud is the BFSI sector. Frauds in this industry include, but are not limited to, frauds involving duplicate financial transactions, unapproved transactions, loan defaults, and false insurance claims.

The majority of the time, these scams are financial in nature; but, if they are not, they may involve consumer data, making them a more serious problem for BFSI businesses. In order to address these concerns for their clients, BFSI organisations enter into long-term collaboration agreements with private investigative service providers.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global private investigation services market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of service (personal services – infidelity check, divorce, surveillance & shadowing, corporate services -employee verification, competitor investigation, corporate espionage, financial fraud verification, corporate due diligence, legal services – labour court case, domestic violence, tracing & suspicious IP, website tracking, asset search, other services – background check, debugging, drug abuse, theft investigation, record search, others (not mentioned elsewhere)) and end-use industry (BFSI, agriculture & forestry, information technology, construction, arts, entertainment, recreation, manufacturing, transportation, warehousing, utilities, retail trade, educational services, public administration), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Check out more related studies published by Fact.MR Research: 

Outdoor Advertising Market: The global outdoor advertising market has reached a valuation of US$ 27.7 billion in 2022 and is predicted to accelerate at a CAGR of 6.4% to top a market size of US$ 51.4 billion by 2032. Outdoor advertising accounted for 4.2% share of the global enterprise advertising market at the end of 2021.

Computer Rental & Leasing Market: The global computer rental & leasing market stands at US$ 4.5 billion in 2022 and is projected to reach US$ 5.5 billion by 2032, progressing at a CAGR of 2.1% during the forecast period (2022-2032). Computer rental & leasing accounted for nearly 10% share of the global enterprise hardware rental market at the end of 2021.

Engineering Services Market: The global engineering services market is valued at US$ 707 billion at present and is forecast to become a trillion-dollar industry by 2032, expanding at a CAGR of 5.9% between 2022 and 2032. Offering a spectrum of engineering services spread across a plethora of industry verticals, this fast-growing industry accounted for around 5% share of all enterprise professional services.

Legal Advisory Market: The global legal advisory market size has reached US$ 669.4 billion in 2022 and is expected to climb to US$ 1,049 billion by the end of 2032, expanding at a CAGR of 4.6%. In 2021, average annual spending by companies on legal services accounted for 0.23% of their total revenue. With increasing complexity and the need to adhere to the regulatory framework, enterprise-level spending is likely to increase substantially over the next ten years.

Security Services Market: The global security services market is predicted to expand at a CAGR of 4.3% and reach a valuation of US$ 136.6 billion by the end of 2032, up from US$ 89.7 billion in 2022. Security services accounted for around 3% share of the global administration, facility management, and business support services market in 2021, and are likely to increase this share by 200 BPS over the next ten years.

About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Source link