Digital Evidence Management Global Market Report 2024

The digital evidence management market size has grown rapidly in recent years. It will grow from $7.49 billion in 2023 to $8.41 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to the increasing prevalence of cybercrime, the need for regulatory compliance, rising awareness of digital threats, globalization of criminal activities, and the integration of digital evidence management systems with other systems.

The digital evidence management market size is expected to see rapid growth in the next few years. It will grow to 13.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The forecasted growth can be attributed to increased adoption in non-traditional sectors, growing concerns about cybersecurity, cross-platform integration, enhanced data privacy measures, and a shift towards cloud-based solutions. Major trends in the forecast period include expanded global collaboration, rapid technological innovations, increasing digitalization, advancements in technology, and the integration of blockchain technology.

The surge in cybercrime and fraud incidents is anticipated to drive the expansion of the digital evidence management market in the coming years. Cybercrime and fraud activities involve illicit actions conducted online or through digital channels, aiming to deceive or manipulate individuals or organizations for financial gain or malicious intentions. The evolving digital landscape, coupled with a dearth of pertinent information concerning online frauds, renders individuals and organizations vulnerable to cyber attacks. Digital evidence management solutions play a pivotal role in cybercrime and fraud incidents by facilitating the collection, analysis, and presentation of digital evidence. This aids organizations and law enforcement agencies in identifying perpetrators, prosecuting offenders, and preventing future occurrences. For instance, reports from the Federal Trade Commission in February 2023 revealed a significant surge in fraud losses experienced by consumers, totaling nearly $8.8 billion in 2022, marking a substantial increase of over 30% compared to the preceding year. Additionally, according to the Australian Cyber Security Centre, cybercrime reports received in 2022 amounted to 76,000, representing a 13% increase from the previous year. These statistics underscore the escalating prevalence of cybercrime and fraud incidents, highlighting the pressing need for effective digital evidence management solutions.

Leading companies in the digital evidence management market are focusing on innovative software solutions, such as digital evidence board software, to address the challenges encountered by law enforcement agencies in conducting investigations. Digital evidence board software serves as a data-driven investigative tool, leveraging data from agencies' records management systems to swiftly identify and map out case relationships in any investigation. For example, in September 2021, Tyler Technologies Inc., a prominent US-based software company, introduced link analysis, a digital evidence board software. This tool harnesses technology to expedite the identification of case relationships and uncover connections using data from agencies' records management systems. By streamlining the investigative process, link analysis enables staff to uncover hidden connections more efficiently and reach conclusions faster. Moreover, its user-friendly interface offers multiple views and graph layouts, eliminating the need for third-party crime analysis tools and enhancing operational efficiency for law enforcement agencies.

In January 2023, Thoma Bravo LLC, a prominent US-based private equity firm, completed the acquisition of Magnet Forensics International Inc. for $1.34 billion. This strategic move is geared towards expanding Thoma Bravo's portfolio of software investments within the technology sector. The acquisition aims to establish a robust end-to-end digital investigations platform capable of assisting law enforcement agencies in resolving critical cases swiftly, protecting victims, and enhancing cybersecurity measures. Magnet Forensics International Inc., headquartered in Canada, specializes in developing digital investigation software and providing digital evidence management services.

Major companies operating in the digital evidence management market are International Business Machine Corporation, OpenText Corporation, NICE Systems Ltd., Tableau Software LLC, Solera Holdings Inc., Verint Systems Inc., Cellebrite DI Ltd., Tritech Software Systems, Nuix Ltd., CaseWare International Inc., Magnet Forensics Inc., Belkasoft, Micro Systemation AB, DriveSavers Inc., Digital Intelligence Inc., F3EA Inc., Griffeye AB, Amped Software Co., Digital Detective Group Ltd., Atola Technology Inc., Paraben Corporation, Oxygen Forensics Inc., BlackBag Technologies Inc., Advanced Digital Forensic Solutions Inc., Binary Intelligence.

North America was the largest region in the digital evidence management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital evidence management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital evidence management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Digital evidence management (DEM) involves the swift and automated collection, analysis, and presentation of digital evidence, expediting investigations and improving investigative procedures. These systems enable investigators to quickly and accurately search for specific evidence, facilitating the location of crucial information without delays.

The primary components of digital evidence management include hardware, software, and services. Hardware encompasses the physical and electronic components of computers or other devices, excluding the instructions they follow. These components can be deployed on-premise or in the cloud, catering to various organization sizes, including small and medium-sized enterprises (SMEs) and large enterprises. The primary end-users of digital evidence management systems include the public sector, law enforcement agencies, public safety and justice organizations, and the insurance sector.

The digital evidence management market research report is one of a series of new reports that provides digital evidence management market statistics, including digital evidence management industry global market size, regional shares, competitors with a digital evidence management market share, detailed digital evidence management market segments, market trends and opportunities, and any further data you may need to thrive in the digital evidence management industry. This digital evidence management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The digital evidence management market consists revenues earned by entities by providing services such as storage and organization, access control and security, indexing and searching, integration with other systems, chain of custody management, and data collection and preservation. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital evidence management market also includes sales of products that include analysis and examination tools, evidence collection tools, case management systems, forensic tools, evidence tracking, and management systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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