The Digital Evidence Management market is projected to grow at a CAGR of 14.51% during the forecast period to reach US$11.368 billion by 2027, from US$4.402 billion in 2020. Technology has progressed considerably over the past several decades, changing the daily operations of organisations around the world. One area, in particular, that has harvested the interests of the digital age is the legal and criminal investigation division. The approach of digital evidence, such as video surveillance footage, audio recordings, and more, has been revolutionary when it comes to promoting investigation and solving crimes. While digital evidence is an astonishingly effective tool for law enforcement and public agencies, its use is no longer restricted to these cases. In the transportation sector, there is the use of in-vehicle cameras; in the delivery and service sectors, there is increasing use of both in-vehicle and body cameras to record trips and interactions, and retailers and commercial companies are adopting video and audio to record interviews. Organizations worldwide are collecting exponential amounts of digital evidence every day, and need systems for maintaining, evaluating, and managing that evidence. Digital Evidence Management (DEM) systems are software-based solutions that permit companies to ingest, preserve, protect, manage, discover, and utilise all of their digital evidence from a centralised interface.
Growing occurrences of cybercrime over the globe, the government's lead towards integration of digital technologies for evidence accumulation, and the constant development in technology are some of the major factors that are suspected to drive the growth of the global market.
The significant factors that are anticipated to stimulate the growth of the digital evidence management market consist of the increasing rate of digital crimes, growing government initiatives, and emerging technologies. For instance, in India and many other countries, governments are contemplating providing police staff with body wearable cameras and dashboard cameras to ensure more stringent implementation of safety rules.
In addition, the increasing investments in developing technologies are also expected to be one of the largest and most influential factors for market growth. High internet diffusion, growing adoption of cloud computing amid several industry verticals for data sharing and other applications, and evolving regulatory scenarios associated with cybercrimes are among other factors that are supposed to promote the growth of the global digital evidence management market. Rising government investment in IT infrastructure expansion in collaboration with influential players is suspected to generate new opportunities in terms of revenue for companies engaging in the evidence management market. For example, In the USA, the justice department announced this year that the Bureau of Justice Assistance (BJA) will be providing funds for body- worn cameras to small, rural, and tribal law enforcement agencies.
Furthermore, an imperative approach by dominant corporations towards business expansion is expected to promote existing opportunities and encourage the growth of the market. For instance, 80% of the forces in the UK are using DEM solutions by FotoWare. However, the shortage of qualified professionals and the ambiguity of legal officers over sharing digital evidence may act as restraints in the digital evidence management market worldwide.
Based on geography, North America is expected to hold the largest market size, and the Asia-Pacific region is also anticipated to increase.
Based on the region, North America is expected to hold the largest market size due to the existence of a large number of digital evidence management companies in the region and various legal initiatives for evidence preservation. Besides, the US is suspected of controlling the overall digital evidence management market in North America. According to the U.S. Department of Justice's Bureau of Justice Statistics (BJS), 47% of the 15,328 general-purpose law enforcement agencies in the United States acquired body-worn cameras in 2016. Recently, Upper Arlington police have announced plans to increase the use of body cameras in November 2021. This funding and consequent initiatives have spurred and stimulated development in the growth of body-worn cameras in the United States. This number is only anticipated to rise further, increasing the market’s growth. 43 out of 68 departments of police in the principal cities of the country have body-worn camera programs with policies in place. 24 of them are getting these cameras swiftly, as per the data by the Electronic Frontier Foundation. The Asia-Pacific region is also anticipated to increase during the forecast period due to the rising internet penetration, the presence of leading companies operating in emerging markets, investments, and government initiatives in emerging technologies such as cloud, IoT, and AI. Due to progressing adoption by financial establishments, the European market is also assumed to provide a notable revenue share in the global market for digital evidence management.
Due to the pandemic, various nations implemented strict restrictions and lockdowns to contain the COVID-19 virus. Apart from the medical sector, most sections have been severely affected by COVID-19. The functioning of various industries was either tentatively halted or operating with lower workforce due to lockdowns and restrictions that were imposed by the governments. The global digital evidence management market is no different, and this factor is expected to have a significantly adverse impact on the income growth of this market. In addition to this, the huge costs affiliated with the establishment and continuance of these machines are also a determinant that may hinder the revenue growth of the global digital evidence management market.
|Market size value in 2020||US$4.402 billion|
|Market size value in 2027||US$11.368 billion|
|Growth Rate||CAGR of 14.51% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Deployment, Component, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||NICE Ltd, QueTel Corporation, Hitachi Vantara Corporation, Panasonic Corporation, Motorola Solutions Inc., Oracle Corporation, CaseGuard, COBAN Technologies Inc., Porter Lee Corporation, IBM Corporation|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the digital evidence management market size by 2027?
A1. The digital evidence management market is projected to reach a total market size of US$11.368 billion by 2027.
Q2. What are the growth prospects for the digital evidence management market?
A2. The global digital evidence management market is projected to grow at a CAGR of 14.51% over the forecast period.
Q3. What is the size of the global digital evidence management market?
A3. Digital Evidence Management Market was valued at US$4.402 billion in 2020.
Q4. Which region holds the largest market share in the digital evidence management market?
A4. North America is expected to hold the largest share in the digital evidence management market due to the existence of a large number of digital evidence management companies in the region and various legal initiatives for evidence preservation.
Q5. What factors are anticipated to drive the digital evidence management market growth?
A5. The significant factors that are anticipated to stimulate the growth of the digital evidence management market consist of the increasing rate of digital crimes, growing government initiatives, and emerging technologies.
Hitachi Vantara Corporation
Motorola Solutions Inc.
COBAN Technologies Inc.
Porter Lee Corporation
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