NEW YORK, Dec. 7, 2016 /PRNewswire/ -- The Bail Bond
Services industry has grown steadily over the past five years.
IBISWorld expects industry revenue to increase at an annualized
rate of 2.7% to $2.4 billion over the
five years to 2016, including a 0.2% decrease over this year as the
crime rate falls.
For the full report, visit IBISWorld's Bail Bond
Services in the U.S. industry report page.
The Bail Bond Services industry is in the business of posting
bail for individuals who are unable to pay their own bail. Bail
bondsmen, who work as bail agents of insurance underwriters,
usually charge a premium of about 10.0% of the face value of the
bond they write. Bail bondsmen are responsible for paying the full
value of the bail bond in case an individual skips their court
hearing, thus, assuming most of the risk of posting bail for
someone else.
According to IBISWorld Industry Analyst Kelsey O'Hollaren, "This industry is being
increasingly viewed as exploitative and social movements are
developing to limit commercial bail activities." However, the
industry has a strong lobby that tries to prevent external
competition for this industry from growing. Many lobbyists are
trying to prevent obligatory access to state-provided pretrial
services because they eat into the industry's revenue. Given these
challenges, industry revenue is projected to expand over the five
years to 2016 and then remain relatively stagnant over the five
years to 2021, growing at an estimated annualized rate of 0.2%.
Similar industries:
Life Insurance &
Annuities
Insurance Brokers & Agencies
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IBISWorld Industry Report Key Topics
Industry Performance
Products & Markets
Globalization & Trade
Major Companies
Operating Conditions
Key Statistics
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SOURCE IBISWorld