Digital Evidence Management Market worth $13.6 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, April 3, 2023 /PRNewswire/ -- The Global Digital Evidence Management Market size is estimated at USD 7.7 billion in 2023 and is projected to reach USD 13.6 billion by 2028, at a CAGR of 12.1% from 2023 to 2028, according to report by MarketsandMarkets™. Factors such as the increasing volume of digital evidence positively drive the growth of the Digital Evidence Management Market. Furthermore, government initiatives for digital evidence management also contribute to market growth.

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321 - Tables
43 - Figures
254 - Pages

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By component, the software segment is expected to account for the largest share in 2023

The Digital Evidence Management Market is segmented, by software, into evidence analytics and visualization; evidence security; and evidence collection, storage, and sharing. Evidence analytics and visualization software enable police forces, private investigators, and government agencies to enhance and digitize their entire evidence process by finding patterns that manage leads and predict criminal activities. Vendors offer a range of digital evidence management software for the imaging, processing, and investigation processes. For instance, the imaging software creates a replica of the data on a drive where investigators perform their investigation process while the original data remains untouched.

By service, the digital investigation and consulting segment is expected to account for the largest market share in 2023

Digital investigation and consulting service vendors provide industry, security, and risk experts who hold expertise in mitigating litigations and solving digital evidence legal issues. With a rapid increase in cases related to money laundering, the internet, and cybercrimes, digital investigation and consulting services assist organizations in tracking issues and reducing losses. Some of the digital investigation and consulting services include data recovery and protection, fraud investigation, and crisis management.

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By region, North America is expected to account for the largest share in 2023

North America has strong economic countries, such as the US and Canada, which offer the most significant and advanced technological infrastructure. North America is one of the major regional contributors to the global Digital Evidence Management Market in terms of market size. Significant players in this region, including IBM, Motorola Solutions, Axon, Oracle, and others, are among the primary drivers boosting the growth of the Digital Evidence Management Market in North America.

In the US, police departments understand the need for better quality in-car and body-wear cameras to collect clear video evidence. For example, In 2022, the Torrance Police Department entered into a five-year camera contract with Axon worth USD 2 million. Axon will provide 200 body-worn cameras and 50 in-car cameras in this deal. With such deals, various polices departments are focusing on their ability to gather on-scene evidence and its management. This increased adoption of new technology generates a massive amount of digital evidence, driving the growth of digital evidence management in North America.

Major players operating in digital evidence management are Panasonic (Japan), Motorola Solutions (US), NICE (Israel), OpenText (Canada), Axon (US), Genetec (Canada), Cellebrite (Israel), Safe Fleet (US), VIDIZMO (US), and IBM (US).

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