Global Digital Evidence Management Market
Dublin, May 10, 2022 (GLOBE NEWSWIRE) -- 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.
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.
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. DIGITAL EVIDENCE MANAGEMENT MARKET, BY DEPLOYMENT
6. DIGITAL EVIDENCE MANAGEMENT MARKET, BY COMPONENT
6.2.1. Body-worn Camera
6.2.2. Vehicle Dash Camera
6.2.3. Citywide Camera
6.2.4. Public Transit Video
7. DIGITAL EVIDENCE MANAGEMENT MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. NICE Ltd
9.2. QueTel Corporation
9.3. Hitachi Vantara Corporation
9.4. Panasonic Corporation
9.5. Motorola Solutions Inc.
9.6. Oracle Corporation
9.8. COBAN Technologies Inc.
9.9. Porter Lee Corporation
9.10. IBM Corporation
For more information about this report visit https://www.researchandmarkets.com/r/xsqew3
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