Information and Communication Technology Digital forensics Market is projected to grow up to 19% CAGR during the forecasting period...

Digital forensics Market is projected to grow up to 19% CAGR during the forecasting period 2021-2027.

Digital Forensics is a field of forensic science that focuses on digital evidence. that is concerned with the recovery and investigation of information found in digital devices that have been used in computer crimes or cybercrimes. It is, in essence, the process of discovering and interpreting electronic data and documents. The primary goal of the digital forensics process is to preserve any evidence in its original form, while also conducting a structured investigation that includes the collection, identification, and validation of digital information. In the event of a cyber-attack, the in-house security team must evaluate every data storage place in order to retrieve traces of the lost data. The security team must verify that the data traces can aid in the reconstruction of the whole data on IoT devices. However, the in-house security staff may not always be competent of data identification, analysis, preservation and storage, analysis, and presentation. As a result, it is critical for industry and organisations to implement best-in-class digital forensic solutions and services to assist in the recovery of data lost in an unexpected occurrence.

Digital forensics is defined as the branch of science that investigates and interprets electronic data in order to identify criminal activity. Digital media are being examined for the purpose of recovering and investigating the information contained within them. It is commonly used in both criminal law and investigation, with the former being more common. It is necessary to conduct an investigation in order to obtain exhibits, report on the investigation that was conducted, and analyse the data that was gathered.

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Key Driving Factors: The widespread use of IoT devices is expected to increase demand for digital forensics solutions and services.

Digital forensics market growth is being driven by a number of factors, including an increase in cybercrimes and security concerns, as well as an increase in insider attacks. With the increasing number of internet of things – IoT – applications being developed, as well as the increasing demand for cloud computing, remote device monitoring, and data transmission through wireless devices, the digital forensics market is expected to continue to expand. The widespread adoption of BYOD culture, which is combined with remote working and digitalization of business processes, as well as the increasing amount of sensitive and confidential data that is being stored on a variety of devices, all have an impact on the digital forensics market as a result. 

Driving factor: Digital forensics is becoming increasingly important to powerful world forces.

Additional factors that have a positive impact on the digital forensics market include a decrease in the price of forensic tools, an increase in investment in digital forensics hardware and software, and the implementation of stringent regulations. Furthermore, the increasing use of cryptocurrencies, as well as the increased adoption of digital forensic solutions in highly regulated industry verticals, provide profitable opportunities to digital forensics market players over the forecast period.

This report offers the major market player’s profiles, such as AccessData (US), Cellebrite (Israel), MSAB (Sweden), OpenText (Canada), Oxygen Forensics (US), ADF Solutions (US), Coalfire (US), Digital Detective (US), LogRhythm (US), Magnet Forensics (Canada), Paraben (US), and Nuix (Australia)

Based on verticals: 

The market is divided into banking, financial services, and insurance, government and defence, healthcare, retail, telecommunications and information technology, and others. As a result of the highly confidential data that the government and defence sectors store, transfer, and use, the government and defence sector held the largest market share. This is because the sector is highly susceptible to cyber attacks and other misbehaviour on the part of its employees. As a result, it becomes necessary and top priority for the sector to ensure the integrity of data as well as data access to the appropriate individuals. Because data loss or theft is associated with national security, significant investment is made in various hardware, software, and services, which has resulted in it having the highest share of the market among all other verticals.

The Digital forensics Market report has been categorized as below

 By Component

  • Hardware

    • Forensic Systems

    • Forensic Devices

    • Forensic Write Blockers

    • Others (includes cables, adapters, hard drive enclosures, batteries, and storage devices)

  • Software

  • Services

    • Professional Services

      • Digital Investigation and Consulting

      • Incident Response

      • System Integration

      • Training and Education

      • Support and Maintenance

    • Managed Services

By Type

  • Computer Forensics

  • Network Forensics

  • Mobile Device Forensics

  • Cloud Forensics

By Tool

  • Forensic Data Analysis

  • Data Acquisition and Preservation

  • Data Recovery

  • Review and Reporting

  • Forensic Decryption

By Vertical

  • Government and Defense

  • BFSI

  • Telecom and IT

  • Retail

  • Healthcare

  • Others 

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

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Published Date : October-2021