MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on the Global Digital Evidence Management Market.
The Digital Evidence Management Market industry is projected to grow from USD 5.78 Billion in 2023 to USD 15.82 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.40% during the forecast period (2023 - 2032). Digital evidence management solutions provide law enforcement agencies with automated evidence collection, processing, review, presentation, archival, and disposition. Agencies also adopt digital evidence management solutions to ensure the integrity of digital evidence by preventing intentional or accidental tampering of the evidence files. The market is expected to attain significant growth owing to a number of features offered by digital evidence management to enterprises. The key features of digital evidence management solutions include analysis of evidence procured from body cams and dash cams using artificial intelligence, redaction of videos to meet legal requirements, maintenance of audit logs, smooth integration with existing case management systems, supporting various digital file formats, faster processing of video evidence acquired from surveillance cameras for criminal investigation, and cloud-based storage of digital evidence accessible in various geographic locations. However, a lack of skilled professional staff and complexities associated with cyber crimes are some of the major challenges that digital evidence management players are expected to face in the coming years.
MRFR recognizes the Market Players in the Global Digital Evidence Management as IBM Corporation, Oracle Corporation, Panasonic Corporation, Hitachi, Ltd., Vidizmo LLC, NICE Systems Ltd., Motorola, Inc., SoleraTec LLC, Foray Technologies, WatchGuard, Coban Technologies, Inc., Micro Systemation AB, Digital Detective Group, OpenText Corporation, QueTel Corporation, and Porter Lee Corporation.
The prominent players keep innovating and investing in research and development to presentcost-effective product portfolios. The key players also engage in several mergers and acquisitions in order to strengthen their market presence and expand their customer base.
The Global Market for Digital Evidence Management is Estimated to Grow at a Significant Rate During the Forecast Period From 2019 to 2024. The geographic analysis of the global digital evidence management market has been conducted for North America (the US, Canada, Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, and the rest of Asia-Pacific) and the rest of the world (the Middle East and Africa and South America).
North America holds the largest market share owing to the increasing adoption of digital evidence management solutions by the law enforcement agencies, public safety & justice enterprises, and insurance companies in the US, Canada, and Mexico. The region witnesses significant growth in adoption of video surveillance cameras, dash cameras, and drones generating high volumes of video information that can be provisioned as evidence for criminal investigations. North America also has the presence of key market players such as Motorola Inc., IBM Corporation, Oracle Corporation, and OpenText Corporation offering digital evidence management solutions to various end users in this region. The US accounts for the largest market share in North America, followed by Canada and Mexico. The market growth in this region is also expected to be driven by rising incidents of crime and an increasing amount of digital evidence produced by various surveillance devices.
Europe accounted for the second largest market share owing to the increasing demand for digital evidence management solutions among law enforcement agencies to automate the collection of digital evidence and efficiently manage crime investigation processes. The region also has the presence of key market players such as NICE Systems Ltd, Capita PLC, Reveal Media, Micro Systemation AB, and Digital Detective and growing adoption of digital evidence management in countries such as the UK, Germany, France, Spain, Italy, and other European countries. The market is also expected to attain growth due to rising adoption of body-worn cameras by police forces in this region. Several initiatives are taken by the European Union to ensure public safety and security, which further boost the adoption of digital evidence management solutions, thereby driving the market growth in this region.
The market in Asia-Pacific accounted for the third-largest share due to the rising adoption of digital evidence management solutions to efficiently procure, store, process, and share digital evidence for various investigations including information security breaches, identity theft, and financial frauds. The digital evidence market in Asia-Pacific region is expected to attain the highest growth due to the increasing number of initiatives taken by the government to secure and manage digital evidence in countries such as China, Japan, India, Australia, Singapore, Malaysia, and other countries in Asia-Pacific. The growing crime rate in this region also promotes the adoption of digital evidence management solutions.
The market in the Middle East and Africa is expected to achieve a substantial growth due to the rising demand for digital evidence management software among law enforcement agencies in the Middle Eastern and African countries. This region presents numerous growth opportunities for key market players to invest in Dubai, Abu Dhabi, and Saudi Arabia.