Digital Forensics Market
Digital Forensics Market, By Forensic Type (Computer forensics, Network forensics, Mobile device forensics, and Cloud forensics), By Component (Hardware, Software, and Services), By Tools (Data Acquisition and Preservation, Forensics Data Analysis, Data Recovery, Review and Reporting, Forensic Decryption, and Others), By Vertical (Government and Defense, Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Retail, Healthcare, and Others), and by Region - Size, Share, Outlook, and Opportunity Analysis, 2023 2031
Market Analysis
Digital Forensics Market is expected to reach USD 24.3 Billion by 2023-2031, with a compound annual growth rate (CAGR) of 13.40%. The "digital forensics market" refers to the industry that offers services and tools to collect, preserve, analyze, and present digital evidence for legal and investigative purposes. Digital forensics is used to investigate various types of cybercrimes, including cyberbullying, financial fraud, data theft, and others. Digital forensics, or as we can say it, "digital forensic science," includes the investigation of materials detected in digital technologies and the recovery of these items when it is about computer crime. Digital forensics investigation is one of the leading fields developing from the original field of forensic science. The MNCs have a database about each individual, and that can be used as a service by a qualified digital forensics analyst to run background checks for various origins with this leading market technology.
The digital forensics market includes hardware, software, and services and is categorized into different types of devices, such as mobile devices, computers, and other electronic devices. To avoid data misuse and loss to the organization, it is necessary to monitor these devices and grant access only to specific people. These factors have fueled the need to invest in digital forensics hardware and software and receive consulting and services for organizations that do not have the capabilities to deploy these devices. The rise of proprietary devices and systems that provide a high level of security, combined with a lack of technical expertise to implement the solutions and higher capital investments, hinder market growth.
The reason for the growth of the digital forensics market is driven by the increasing number of cyberattacks and cybercrimes globally. The rise in cybercrime has led to an increase in the demand for digital forensics services, and this trend is expected to continue in the coming years. The increased use of electronic devices and cloud storage is also driving the growth of the digital forensics market in the future.
Digital Forensics Market | REPORT SCOPE & SEGMENTATION
|
Report Attribute |
Details |
|
Projected Market Value (2031) |
24.3 Billion |
|
Estimated Market Value (2022) |
10.5 Billion |
|
Base Year |
2022 |
|
Forecast Years |
2023 - 2031 |
|
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Forensic Type, By Component, By Tools, By Vertical, Region |
|
Segments Covered |
By Forensic Type, By Component, By Tools, By Vertical, Region |
|
Forecast Units |
Value (USD Billion), and Volume (Units) |
|
Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
|
Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
|
Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
|
Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Digital Forensics Market Dynamics
The digital forensics market is driven by various market dynamics, including drivers, restraints, and opportunities. Here are some of the key market dynamics that impact the digital forensics market:
- Drivers:
- Increasing incidence of cybercrimes and data breaches.
- Growing use of electronic devices and internet services.
- Increasing adoption of digital forensics tools and services in law enforcement and government agencies.
- Rising demand for advanced and cloud-based digital forensics solutions.
- Restraints:
- High cost of digital forensics tools and services.
- Lack of skilled digital forensics professionals.
- Difficulty in analyzing and interpreting large volumes of digital data.
- Issues related to data privacy and protection.
- Opportunities:
- Growing demand for digital forensics services in emerging economies.
- Advancements in technology, such as artificial intelligence and machine learning, to enhance digital forensics capabilities.
- Growing adoption of blockchain technology for secure storage and transfer of digital evidence.
- Increasing demand for mobile and cloud-based digital forensics solutions.
Digital Forensics Market, By Geography
North America is expected to dominate the digital forensics market due to the presence of several major key players in the region and the high adoption rate of digital forensics services. For a long time, foreign cyber adversaries have targeted the United States' financial system. Based on this phenomenon, the United States government imposed a law requiring the private sector to have a dedicated cyber protection team (CPT) to provide surge capacity in the event of an ongoing cyberattack in the form of advanced analysis and network and endpoint forensics.
Asia Pacific region is expected to witness the fastest growth due to the increasing demand for digital forensics services in emerging economies such as China and India. owing to the increasing use of cloud environments for data storage. Organizations operating in sectors such as banking, financial services, and insurance (BFSI), retail, and government are shifting their workloads to the cloud for cost-savings, agility, and flexibility, which has increased organization’s susceptibility to cyber-attacks. Therefore, cloud forensics have gained much attention from forensics experts in Asia-Pacific.
Analysis of Digital Forensics Market Competitors
Some of the key players in the market include:
- AccessData Group, Inc.
- Guidance Software, Inc.
- Oxygen Forensics
- Paraben Corporation
- Cellmark Forensic Services
- Binary Intelligence, LLC
- FireEye
- Nuix Pty Ltd.
- IBM Corporation
- LogRhythm, Inc.
- Magnet Forensics Inc.
- Cisco Systems, Inc.
Recent Developments
- In December 2022: Offensive Security released Kali Linux 2022.4, the latest version of its widespread penetration testing and digital forensics platform with updated features. This platform comes with a new version of the GNOME desktop environment with shell updates, a new text editor, new themes, and a new version of the KDE Plasma desktop environment with tweaked widgets. This platform has been added to the Microsoft Azure marketplace.
- In December 2022: Fintactics launched Lezaam and signed a joint venture with Aion Digital. RegTech-as-a-Service with all features and capabilities required for digital onboarding and eKYC, including journey orchestration, compliance, AML screening, and digital forensics, is what Leza’am is offering.
Segments covered:
- By Forensic Type
- Computer forensics
- Network forensics
- Mobile device forensics
- Cloud forensics
- By Component:
- Hardware
- Software
- Services
- By Tools:
- Data Acquisition and Preservation
- Forensics Data Analysis
- Data Recovery
- Review and Reporting
- Forensic Decryption
- Others
- By Vertical:
- Government and Defense
- Banking
- Financial Services
- Insurance (BFSI)
- Telecom and IT
- Retail
- Healthcare
- Others
Geographies covered:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Customization Scope
- Available upon request
Pricing
- Available upon request
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
