Market Size of Evidence Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Evidence Management Market Analysis
The Evidence Management Market is expected to register a CAGR of 18% over the forecast period 2021 - 2026. Unearthing huge amount of evidence data is no longer being preferred on spreadsheets, rather it is being shifted to a centralized repository, where there is maintenance chain of custody along with setting up of alerts for evidence management.
- Throughout the world, law enforcement agencies have been utilizing body-worn cameras as a promising tool to improve evidentiary outcomes, enhance the safety of, and enhance interactions between officers and the public. The cameras also prove to be an essential tool to assist broader law enforcement, problem-solving, and community engagement strategies within jurisdictions.
- With millions of vehicles commuting daily, car accidents are bound to happen. The usage of vehicle dash cameras has expanded significantly over the past few years due to a rise in the number of accidents and vehicle thefts, which have led to the government mandating the installation of dashcams.
- Collected data can be compromised if hackers manage to get access to the system. Even one piece of data missing/tampered could challenge law enforcement. As data is generated from various sources like e-mails, text messages, transactions, online accounts, images, and browsing histories, the evidence management system should be tamper-proof.
- However, the lack of skilled professional staff and complexities associated with cyber crimes are some of the major challenges that digital evidence management market.
- Japan has announced a USD 2.2 billion stimulus package to help its manufacturers to shift their production facilities out of China as the COVID-19 Pandemic disrupted the supply chain. The package specifies USD 2 billion for companies shifting production back to Japan and remaining for those seeking to move production to other regions. This shift in the production facilities would initially affect the revenue generation of the body-worn camera manufacturers.
