The digital evidence management market is gaining traction, due to the increasing internet and cybercrimes such as fraud and identity thefts, information warfare, phishing scams, Denial-of-Service (DoS) attacks, SQL injection attacks, Cross-Site Scripting (XSS), and credential reuse, across the globe. Additionally, the growing use of emerging technologies such as IoT and cloud, and rising government concerns toward evidence protection and security are expected to generate a huge demand for digital evidence management solutions and services. MarketsandMarkets forecasts the digital evidence management market size to grow from USD 4.35 billion in 2018 to USD 7.56 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period.
The hybrid deployment to grow at the highest CAGR during the forecast period
The hybrid deployment is expected to grow at the highest CAGR during the forecast period, as the hybrid deployment type offers a mix of on-premises and cloud services. It enables access to evidence from both on-premises and cloud. Additionally, it offers flexibility to investigators uploading sensitive and critical evidence in the private cloud or on-premises, whereas the public cloud can be used to host less critical evidence.
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The software segment to hold the largest market share during the forecast period
Digital evidence management software assists prosecutors and investigators in managing, analyzing, visualizing, sharing, and storing evidence. It enhances and digitizes the entire investigation process, which assists in tracking patterns and criminal activities. In addition to this, it assists in examining structured or unstructured data sets to gain insights for drawing conclusions out of the collected evidence to build effective and accurate results.
Some of the major players in the digital evidence management market include Panasonic (Japan), Motorola (US), NICE (Israel), AcsessData (US), MSAB (Sweden), OpenText (Canada), Digital Detective (UK), Cellebrite (Israel), Paraben (US), QueTel (US), IBM (US), Oracle (US), Hitachi (Japan), Capita (UK), Vidizmo (US), Coban (US),Reveal Media (UK), Porter Lee Corporation (US), SoleraTec (US), VeriPIc (US), FileOnQ (US), Tracker Products (US), Intrensic (US), Foray (US), and WatchGuard (US). These leading players have adopted various organic and inorganic growth strategies, such as new product launches, product enhancements, and mergers and acquisitions, to achieve growth in the digital evidence management market.
Panasonic is one of the leading players in the digital evidence management market. It offers Unified Digital Evidence (UDE), a simple, powerful, and web-based evidence management solution. As a part of its growth strategy, it strongly invests in R&D; the company has decided to invest approximately USD 159.05 billion from fiscal 2016 to 2019 for enhancing its product portfolio. In the digital evidence management market, the company is aggressively working toward enhancing its product and service offerings across the globe.
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MSAB is another leading company in the digital evidence management market. It holds expertise in the digital investigation and forensic technologies used for examining mobile devices. Since 1984, it has been offering the digital forensic technology to investigate crimes, gather intelligence, and fight corruption. It dedicatedly works toward its offerings, product enhancements, and partnerships to meet requirements of its clients. For instance, in June 2018, MSAB collaborated with other industry leaders to work collaboratively on the CASE initiative. Furthermore, in May 2018, MSAB announced the expansion of its Mobile Forensic Ecosystem solution.
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