Overview and Scope
Digital forensics refers to a branch of forensic science that deals with the recovery, investigation, examination, and analysis of material found in digital devices, often concerning mobile devices and computer crime. It is used in criminal law and private study and is often part of a more comprehensive investigation spanning several disciplines.
Sizing and Forecast
The digital forensics market size has grown rapidly in recent years. It will grow from $11.77 billion in 2023 to $13.49 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to increase in cybercrime, rise in digital data volume, expansion of e-commerce, growing use of digital devices, regulatory compliance requirements.
The digital forensics market size is expected to see rapid growth in the next few years. It will grow to $23.28 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to ncreasing demand for cybersecurity solutions, rise in digitalization initiatives, expansion of cloud computing, globalization of businesses, higher adoption of internet of things (iot) devices. Major trends in the forecast period include integration of artificial intelligence in digital forensics, automation in forensic processes, adoption of blockchain for data integrity, focus on proactive threat intelligence, increased use of machine learning in forensic analysis.
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Segmentation & Regional Insights
The digital forensics market covered in this report is segmented –
1) By Type: Computer Forensics, Network Forensics, Mobile Device Forensics, Cloud Forensics
2) By Component: Hardware, Software, Services
3) By Tool: Data Acquisition And Preservation, Data Recovery, Forensic Data Analysis, Forensic Decryption, Review And Reporting, Other Tools
4) By Vertical: Government And Defense, Banking, Financial Services, And Insurance, Telecom And Information Technology, Retail, Healthcare, Other Verticals
North America was the largest region in the digital forensics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital forensics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The intensifying cyber-security threats are expected to propel the growth of the data forensics market going forward. Cybersecurity threats refer to potential risks and attacks on digital systems, networks, and data by malicious actors seeking to exploit vulnerabilities and compromise information confidentiality, integrity, and availability. Data forensic techniques are used in cyber security to investigate and analyze cyber risks, pinpoint their source, and provide vital proof for incident response and mitigation. For instance, in January 2023, according to a report published by BNP Media Inc., a US-based media company, global cyberattacks increased by 38% in 2022 compared to 2021. Furthermore, in 2021, according to the Federal Bureau of Investigation, a US-based federal agency, there were 847,376 complaints and a $6.9 billion loss in 2021. Therefore, intensifying cyber-security threats are driving the data forensics market.
Key Industry Players
Major companies operating in the digital forensics market report are International Business Machines Corporation, Cisco Systems Inc., OpenText Corporation, Kroll Associates Limited, KLDiscovery Inc., Guidance Software Inc., Cellebrite DI Ltd., LogRhythm Inc., Nuix Pty Ltd., Magnet Forensics Inc., Digital Detective Group Limited, AccessData Group Inc., CCL Solutions Group Ltd., Cellmark Forensic Services Inc., MSAB ( Micro Systemation), CYFOR Technologies LLC, Cyber Triage, IntaForensics Ltd., Techfusion Pty Ltd., R3 Digital Forensics LLC, Intersec Worldwide Inc., Global Digital Forensics, Elcomsoft Co. Ltd., Digital Shield Ltd., Binary Intelligence LLC, Autopsy, Alias Forensics Inc., Advanced Digital Forensic Solutions Inc., Paraben Corporation, Oxygen Forensics Inc.
The digital forensics market report table of contents includes:
1. Executive Summary
2. Digital Forensics Market Characteristics
3. Digital Forensics Market Trends And Strategies
4. Digital Forensics Market – Macro Economic Scenario
5. Global Digital Forensics Market Size and Growth
…..
32. Global Digital Forensics Market Competitive Benchmarking
33. Global Digital Forensics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Digital Forensics Market
35. Digital Forensics Market Future Outlook and Potential Analysis
36. Appendix
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