DUBLIN--(BUSINESS WIRE)--The "Evidence Management Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The evidence management market is expected to register a CAGR of 18% during the forecast period 2019-2024.
Unearthing huge amount of evidence data is no longer being preferred on spreadsheets, rather it is being shifted to a centralized repository, where there is maintenance chain of custody along with setting up of alerts for evidence management.
- According to BBC, violent crime recorded by police in England and Wales has risen by 19% in a year. Overall crimes recorded by police went up by 7% in 2018 with a total of 5,723,182 offenses recorded un UK. In Latin America, Venezuela has the highest homicide rate, at 81.4 homicides per 100,000 people. Thus, increasing crime rate trend is set to augment the market growth.
- Collected data can be compromised if hackers manage to get access to the system. Even one piece of data missing/tampered could challenge law enforcement. As data is generated from various sources like e-mails, text messages, transactions, online accounts, images, and browsing histories, the evidence management system should be tamper-proof.
Major Market Trends
Cloud Deployment to Dominate the Market
- Evidence is the backbone of policing and as crimes continue to grow in complexity, police is looking to the cloud to help manage the increase in digital evidence.
- As multimedia becomes abundant, evidence such as images and videos from mobile phones, CCTV, GPS data, SMS and Automatic number plate recognition (ANPR) play a greater part in criminal investigations. Their volume is increasing day by day which s causing police to adopt cloud.
- Cloud computing provides several benefits to organizations such as increased flexibility, scalability and reduced cost.
- Deployment on cloud should be scalable, but also acknowledge the privacy and security of sensitive information. For instance, NICE Investigate solution is hosted on the Microsoft Azure Government cloud, as it meets the most stringent compliance standards in the world - including the FBI's Criminal Justice Information Services Security Policy.
Asia-Pacific to Witness the Highest Growth
- The region is becoming a home to many evidence management vendors. For instance, in November 2018, Genetec a manufacturer of unified security, public safety, operations, and business intelligence solutions, announced it will officially inaugurate its new, expanded Singapore headquarters.
- There has been an improved understanding of cloud by the government and hence public spending on cloud is also increasing in this region.
- Increasing crime rate is also one of the driver for market expansion in this region. According to Global Finance 2019, the Philippines is ranked least safe of all the countries in the world, while as per ValueChampion, Malaysia was ranked as the 5th most dangerous country for women to live in out of the 14 APAC countries surveyed in 2018.
- Poor economic development in countries like Bangladesh, Pakistan and Afgahnistan is leading to decrease in personal safety and security, which is ultimately driving the market growth.
The market is fragmented due to data generated from various sources which is causing vendors to come up with the latest market offerings.
- June 2019 - Aon leader in connected law enforcement technologies, and its United Kingdom subsidiary, Axon Public Safety UK Limited, announced Dyfed-Powys Police as the first UK police force to deploy Axon's in-car camera technology, Axon Fleet 2. The Axon Fleet 2 in-car cameras are the first of their kind in the UK and allow Dyfed-Powys police officers to download vital video evidence directly via a wireless system.
- February 2019 - Motorola Solutions planned to equip the German federal police with its Si500 Video Speaker Microphone and a digital evidence management software solution. The technology will help law enforcement officers and citizens to be better protected and will improve incident investigations.
- November 2018 - Norwegian software company FotoWare created a digital evidence management (DEM) solution that is now being used by 35 of 42 UK police forces, plus others worldwide. The software helps officers work more efficiently by speeding up and accurately carrying out administration and evidence control tasks.
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Rising Crime Rate Globally is Leading to Market Expansion
4.4 Market Restraints
4.4.1 Data Stored can be Tampered With, Affecting the Security of Data
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Deployment
5.2 By Hardware
5.2.1 Body-Worn Camera
5.2.2 Vehicle Dash Camera
5.2.3 Citywide Camera
5.2.4 Public Transit Video
5.3 By Services
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 NICE Ltd.
6.1.2 QueTel Corporation
6.1.4 Hitachi Vantara
6.1.5 Panasonic Corporation
6.1.6 Motorola Solutions
6.1.7 Oracle Corporation
6.1.9 COBAN Technologies
6.1.10 Porter Lee Corporation
6.1.11 Finalcover LLC
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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