DUBLIN--(BUSINESS WIRE)--The "Digital Evidence Management Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
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.
Key Market Segments
By Deployment
- On-premise
- Cloud
By Component
- Hardware
- Body-worn Camera
- Vehicle Dash Camera
- Citywide Camera
- Public Transit Video
- Software
- Services (Consulting, Training, and Support)
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- China
- Japan
- Thailand
- Indonesia
- South Korea
- India
- Taiwan
- Others
Companies Mentioned
- NICE Ltd
- QueTel Corporation
- Hitachi Vantara Corporation
- Panasonic Corporation
- Motorola Solutions Inc.
- Oracle Corporation
- CaseGuard
- COBAN Technologies Inc.
- Porter Lee Corporation
- IBM Corporation
For more information about this report visit https://www.researchandmarkets.com/r/dnftk1
