2024 Supply Chain Risk Trends Analysis

Verisk CargoNet, a business unit of Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, reports record-breaking cargo theft activity across the United States and Canada reached unprecedented levels in 2024, with 3,625 reported incidents representing a stark 27 percent increase from 2023, according to CargoNet's annual analysis. The estimated average value per theft rose to $202,364, up from $187,895 in 2023.

Each quarter of 2024 surpassed previous records set in 2023, though the margin of increase narrowed as the year progressed. The most dramatic spike occurred in Q1 2024, with 317 more incidents than the same period in 2023, while Q4 2024 showed a more modest increase of 94 incidents, representing an 11.81 percent year-over-year growth.

Geographic trends show California and Texas experiencing the most significant increases in theft activity. California reported a 33 percent rise in incidents, while Texas saw an even more dramatic 39 percent surge. The five most impacted counties all reported substantial increases, led by Dallas County, Texas, with a 78 percent spike in reported incidents. Los Angeles County, California, traditionally a high-activity area, saw a 50 percent increase while neighboring San Bernardino County experienced a 47 percent rise.