NEWS – “without comment”

Global Private Investigation Services Market to Grow to US$ 28.2 Billion by 2032

Ravi Chawat – 2024-06-18

Private Investigation Services Market is estimated to reach US$ 28.2 Bn in 2032. Employee verification as a service accounts for 15% share of global revenue.

The global private investigation services market, valued at US$ 18.2 billion in 2022, is projected to advance at a CAGR of 4.5% from 2022 to 2032.

This growth is driven by the increasing integration of technology within investigative services and the rising incidence of financial fraud on a global scale.

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.

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.

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Key Takeaways from Market Study

The global private investigation services market is poised for substantial growth, projected to reach US$ 28.2 billion by 2032 with a compound annual growth rate (CAGR) of 4.5%.

From 2017 to 2021, the market expanded at a CAGR of 3.9%, laying the groundwork for further acceleration in the coming decade.

Employee verification services, holding a significant portion of the market, were valued at US$ 2.7 billion in 2022, highlighting their crucial role in the sector’s dynamics.

Geographically, North America led the global market in 2021 with a commanding 35% market share, driven by stringent regulatory frameworks and corporate demand for investigative services.

Looking ahead, Europe and South Asia & Oceania are expected to witness robust growth in demand, with projected CAGRs of 4.7% and 6.2%, respectively.

This growth is fuelled by increasing awareness of security risks and the need for thorough background checks across various industries, underscoring the expanding role of private investigation services worldwide.

Article:  https://www.whatech.com/og/markets-research/consumer/843207-global-private-investigation-services-market-to-grow-to-us-28-2-billion-by-2032

Posted by: Ian (D.Withers)

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