Technology-enabled services with 24/7 presence will help private investigation service providers grow, says Fact.MR

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The global private investigation services market is expected to grow at a CAGR of 4.5% and be valued at USD 28.2 billion by the end of 2032.

/EIN News/ — Rockville, Oct. 25, 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, has released a new report, which reveals that the global private investigation services market is estimated to be valued at USD 18.2 billion in 2022 and is further expected to grow 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 financial fraud growing across the world.

The global private investigation industry looks promising due to the increase in the number of different scams across the world. The increase in incidents such as burglaries, thefts, property damage, kidnappings and murders has also increased the demand for private detective services.

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Private investigation service providers seek to acquire new customers by offering bundled business services, 24X7 services, and technology services. The survey industry as a whole is evolving after the technology boom. Customers seek those who are more accessible than their counterparts. Private investigation services require maintaining client information and secrecy, thus requiring utmost trust between clients and service providers.

Key insights from market research

  • The global private investigation services market is expected to grow at a CAGR of 4.5% and be valued at USD 28.2 billion by the end of 2032.
  • The market grew at a CAGR of 3.9% from 2017 to 2021.
  • Under the type of services, 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 grow at CAGRs of 4.7% and 6.2%, respectively, in Europe and South Asia & Oceania.

“The integration of technology coupled with increased turmoil within society will push the private investigation industry to new heights,” says a Fact.MR analyst.

Market development

The survey industry’s business environment is rapidly changing towards the adoption of technology in its service offerings. Moreover, market players are striving to increase their customer base by focusing on various end users and regions.

  • In September 2022, Protos Security, a leading technology-based security company, acquired MG Security Services. This will help Protos Security grow in the East Coast region of the United States.

Profiled Key Companies

  • AAC Group
  • ACES Houston Private Investigations
  • AMX detectives
  • Apple Investigations
  • Bill Robison Investigations
  • Bobby Dean Investigations
  • Canadian Special Investigations
  • Cunningham Investigations
  • International detective
  • Fog surveys
  • Global Threat Solutions
  • Golden Shield Security Services
  • IBM Investigations, LLC
  • IPI International Private Investigators
  • Network Launch Limited
  • Private detective London
  • Rhino monitoring
  • Scope of limited investigations
  • Securitas AB
  • Truth Investigations

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Is the United States an important market for private investigation services?

The US economy as a whole is extremely developed in all respects. The US private investigation industry is essential to maintaining the integrity and efficiency of the system. In 2022, the US market is expected to be around US$5.2 billion.

The way the private investigation industry operates and delivers its services is changing rapidly. Customers and service providers have transformed through the integration of technology. Surprisingly, despite the current economic climate, the US Bureau of Labor Statistics predicts that the job outlook for private investigation services will increase by 6% over the next two years.

Private Investigation Services Industry Research Segmentation

  • By Service:
    • Personal services
      • Infidelity check
      • Divorce
      • Monitoring and spinning
    • Corporate services
      • Employee Verification
      • Competitor survey
      • Industrial spying
      • Financial Fraud Check
      • Business Due Diligence
  • Legal services
    • Case before the labor court
    • Domestic violence
    • Tracing and suspicious IP address
    • 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
    • Computer science
    • Construction
    • Arts, entertainment and recreation
    • Manufacturing
    • Transportation, warehousing and utilities
    • Retail business
    • Educational services
    • Public administration
  • By region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • Middle East and Africa

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Will BFSI remain the biggest client of private investigation firms?

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

Most of the time, these scams are financial in nature; but, if they are not, they can involve consumer data, making it a bigger problem for BFSI companies. In order to address these concerns for their clients, BFSI organizations enter into long-term collaborative agreements with private investigation service providers.

More valuable information about the offer

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

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

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