Investigative Analytics Market Size, Share, Trends, Growth 2030

Investigative Analytics Industry Perspective:

The global investigative analytics market size was evaluated at $10.1 Billion in 2022 and is slated to hit $50.1 Billion by the end of 2030 with a CAGR of nearly 21.1% between 2023 and 2030.

The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

Request Free Sample

Investigative Analytics Market: Overview

Investigative analytics focuses on determining the unknown patterns in complex data sets for revealing the inconsistencies in the various transactions. It makes use of exploratory data analytics, data mining methods, predictive analytics, data visualization, and drill-down analytics. Investigative analytics assist in simplifying complex data sets and is aimed at detecting credit card fraud detection along with alerting firms in preventing incidences of credit card fraud as well as other types of fraud.

Key Insights

• As per the analysis shared by our research analyst, the global investigative analytics market is projected to expand annually at the annual growth rate of around 21.1% over the forecast timespan (2023-2030)
• In terms of revenue, the global investigative analytics market was evaluated at nearly $10.1 billion in 2022 and is expected to reach $50.1 billion by 2030
• The global market is anticipated to record massive growth over the forecast period owing to the humungous use of investigative analytics in accounting, sales & marketing, automotive, BFSI, power & utilities, and healthcare industries
• Based on vertical, the BFSI segment accounts for the major share of the global market over the forecast timeline
• In terms of deployment, the cloud segment is predicted to account for a major share of the global market during the analysis timeframe.
• Region-wise, the North American investigative analytics market is projected to contribute majorly towards the global market share over the assessment period.

Request Free Sample

Investigative Analytics Market: Growth Factors

Need of identifying various kinds of online frauds in real-time to foster the global market growth in 2023-2030

The growing need for performing effective root cause analysis within a critical timespan for detecting fraud will promote the growth of the investigative analytics market size globally. Humungous use of investigative analytics in accounting, sales & marketing, automotive, BFSI, power & utilities, and healthcare industries will prop up the expansion of the investigative analytics market across the globe. Law enforcement agencies are making use of investigative analytics for investigating major crimes and this has driven global market trends in recent years. In addition to this, the high need for digital forensics, strategic intelligence analysis, crime analysis & mapping, organized crime investigation & mapping, and narcotics crime will prop up the growth of the investigative analytics market across the globe.

Furthermore, the rise in the number of cyber-crimes witnessed across the globe has spurred the market demand globally. In addition to this, investigative analytics augments advanced data analytics capabilities, thereby helping the end-users in exploring, visualizing, and culling big data into manageable high-value data sets for speeding data analysis. This will increase the application of investigative analytics in various untapped domains, thereby steering market penetration across the globe.

Investigative Analytics Market: Hindrances

High preliminary costs of deploying the investigative analytics software to curtail the global industry expansion

The huge initial costs of installing investigative analytics software and the high investment required for supporting the infrastructure of the software are a few of the key factors that can hinder the expansion of the global investigative analytics industry. A rise in upgradation requiring extra charges to be paid by the firm can prove to be a major impediment to the expansion of the global industry.

Investigative Analytics Market: Opportunities

Demand for data consistency and authenticity will produce new facets of growth for the global market

The growing need for enhancing data accuracy and efficiency will open new vistas of growth for the global investigative analytics market. The rise in the use of investigative analytics by law enforcement agencies in countries in Europe and the U.S. will create new growth opportunities for the global market in the years ahead.

Investigative Analytics Market: Challenges

The low availability of experts is a key challenging factor in the growth of the global industry

Small & medium-scale enterprises in emerging economies face an uphill task in the deployment of investigative analytics software due to the non-availability of a skilled workforce This has posed a huge challenge for the scaling up of the investigative analytics industry size across the globe. Low awareness about the benefits of using investigative analytics software among the end-users such as banks, insurance firms, healthcare firms, pharmaceutical firms, and other financial institutions in developing countries can prove to be a big threat to the growth of the global industry.

Investigative Analytics Market: Segmentation

The global investigative analytics market is sectored vertical, end-users, deployment, and region.

In terms of vertical, the global investigative analytics market is divided into BFSI, healthcare, automotive, and energy & utility segments. Apparently, the BFSI segment, which accounted for a major market share in 2022, is set to lead the segmental expansion during the forecast timeline. The growth of the segment over the next eight years can be due to the massive use of investigative analytics software in developed countries such as the U.S., Germany, the UK, Canada, and Estonia. Moreover, the growing need for safeguarding financial transactions against frauds such as credit card fraud and other kinds of frauds occurring during financial dealings has led to the massive use of investigative analytics software in the BFSI segment.

The market, by end-user, is segregated into public firms and private organizations.

Based on the deployment, the investigative analytics industry is bifurcated into cloud and on-premise segments. Furthermore, the cloud segment, which accounted for the highest share of the global industry in 2022, is anticipated to record the fastest CAGR during the projected timeline. The growth of the segment over the analysis timeframe can be owing to the growing need of addressing data security concerns. Apart from this, low deployment costs and operational ease will further drive segmental growth.

Recent Breakthroughs:

• In March 2023, Oxygen Forensics, a key player in the digital forensics industry for government, law enforcing firms, and enterprise customers launched Oxygen Analytic Centre, an internet browser based on data-sharing solutions and designed for simplifying investigative & eDiscovery procedures. Moreover, the new browser will enable real-time collaboration and analysis of data across the teams. The move will contribute notably towards the growth of the global investigative analytics market in the years to come.
• In the first quarter of 2023, Equifax Inc., a key U.S.-based consumer credit reporting firm, introduced Instant Client Insights (ICI) Case Monitor™ for assisting government health & human service agencies to take quick & well-informed decisions. The new launch will boost the scope of the growth of the investigative analytics industry in North America.
• In the first half of 2021, Cellebrite, a digital intelligence suite of services empowering enterprises, law enforcing firms, and governments, launched the latest type of Cellebrite Pathfinder, an investigative analytics solution that helps in achieving accurate data analysis, process performance, and scalability. The move will boost the penetration of investigative analytics across various industries globally.

Investigative Analytics Market Report Scope:

Investigative Analytics Market: Regional Insights

The Investigative Analytics market in North America is to witness a mammoth expansion from 2023 to 2030

The North American region, which contributed nearly 45% of the overall investigative analytics market share in 2022, is set to establish itself as a leading region in terms of contributions to the overall market revenue and sales in the ensuing years. The growth of the investigative analytics market in North America in the upcoming years can be a result of the presence of giant industry players in countries such as the U.S. and Canada. In addition to this, thriving healthcare, pharmaceuticals, automotive, and BFSI industries in the sub-continent will embellish regional business trends.

Furthermore, the Asia-Pacific investigative analytics industry is projected to witness exponential growth over the forecast timespan. The regional market growth during 2023-2030 can be due to large-scale outsourcing of business processes and software development solutions by countries such as the U.S., UK, Australia, and Germany to countries such as India and the Philippines. Apart from this, the large-scale use of investigative analytics software in banking, IT, and pharmaceutical businesses will help the industry reach new heights of growth. Reportedly, Europe and the Middle East and African market are expected to register a moderate rate of growth in the next couple of years.

Investigative Analytics Market: Competitive Space

The global investigative analytics market profiles key players such as:

• Chorus Intelligence
• BriefCam
• Nuix
• 21CT Inc.
• OMSOFTWARE PVT LTD
• Wynyard Group Limited
• Xurmo Technologies
• Kaseware
• West Advanced Technologies
• Hewlett-Packard Enterprise Company
• Voyager Labs
• AgentVi
• The Data Company
• TDWI.

The global investigative analytics market is segmented as follows:

By End-Users

• Public Firms
• Private Organizations

By Vertical

• BFSI
• Automotive
• Healthcare
• Energy & Utilities

By Deployment

• On-Premise
• Cloud

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa