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Aug, 29 2023

Unravelling Digital Clues: The Art and Science of Digital Forensics

Digital forensics involves the collection, analysis, and preservation of digital evidence from computers, mobile devices, and other digital sources. Its applications range from criminal investigations to cybersecurity incidents and civil disputes. Key features of the digital forensics market include data recovery, forensic imaging, and artifact analysis. It helps uncover hidden information, reconstruct events, and identify culprits in cybercrimes, data breaches, and fraud cases. Additionally, digital forensics aids in ensuring data integrity and compliance with legal regulations, making it indispensable in modern digital environments.

According to Data Bridge Market Research, the Global Digital Forensics Market accounted for USD 6.70 billion in 2021 and is expected to reach USD 17.08 billion by 2029. The market is expected to grow with a CAGR of 12.40 % in the forecast period of 2022 to 2029.

“Widespread adoption of Internet of Things (IoT) boosts the market’s growth”

The widespread adoption of Internet of Things (IoT) devices has significantly expanded the attack surface for cybercriminals, leading to an increase in cybercrimes and security breaches. This surge in digital threats has subsequently driven up the demand for digital forensics services and solutions to investigate and analyze IoT-related incidents. As a result, the digital forensics market has experienced substantial growth, with organizations and law enforcement agencies relying on these specialized tools and expertise to uncover and address IoT-related security breaches, ensuring a safer and more secure digital landscape.

What restraints the growth of the global digital forensics market?

“Lack of digital forensics pre-planning restraints the market’s growth”

The lack of digital forensics pre-planning poses significant restraints on the digital forensics market's growth. Without adequate pre-planning, organizations may fail to implement proactive measures to secure their digital infrastructure, leading to more cyber incidents. This, in turn, reduces the demand for digital forensics services as companies might not prioritize investigations. Moreover, delayed responses to incidents can result in data loss or tampering, making it harder to conduct effective forensic analysis. Thus, proper pre-planning is crucial to foster the growth of the Digital Forensics market.

Segmentation: Global Digital Forensics Market

The global digital forensics market is segmented on the basis of component, type, application, industry, mode of purchase, and distribution channel. 

  • On the basis of component, the digital forensics market is segmented into hardware, software, and tools, services.
  • On the basis of type, the digital forensics market is segmented into computer forensics, mobile device forensics, network forensics, database forensics, malware forensics, email forensics, automotive forensics, drone forensics, and others.
  • On the basis of application, the digital forensics market is segmented into fraud investigations, intellectual property theft, industrial espionage, forgery-related matters, bankruptcy investigations, issues concern with the regulatory compliance, employment disputes, inappropriate use of the internet and email in the workplace.
  • On the basis of industry, the digital forensics market is segmented into government and defense, banking, financial services, and insurance, telecom and IT, retail, transportation and logistics, law firms, healthcare, media and entertainment, and others.
  • On the basis of mode of purchase, the market is segmented into group purchase, individual.
  • On the basis of distribution channel, the market is segmented into third party distributor, retail sales, online sales, and others.

Regional Insights: North America dominates the Global Digital Forensics Market

North America dominates the digital forensics market due to the presence of a significant number of dominant and local players in the region creating a competitive market landscape with diverse offerings and services. This competition can impact market dynamics and influence business strategies and customer choices.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because the region has experienced a surge in cloud environment adoption for data storage. This trend has led to a shift in data management practices, with businesses and individuals leveraging the cloud's flexibility, scalability, and accessibility for storing and accessing their data.

To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-digital-forensics-market

Recent Developments

  • In January 2021, LogRhythm made a strategic move by acquiring MistNet to bolster their SIEM (security information and event management) platform. This acquisition aimed at integrating cloud-based analytics, threat detection, and network visibility, thereby empowering users with advanced machine-learning-based detection and response capabilities.
  • In October 2020, Paraben unveiled the E3 Forensic Platform version 2.7, introducing a range of new features. Notably, the latest version includes support for Slack with cloud acquisitions, extends compatibility to acquire and analyze data from iOS 14 devices, incorporates ExFAT file system support and analysis, and enables acquisition and analysis of data from Android 11 devices.

The Prominent Key Players Operating in the Global Digital Forensics Market Include:

  • Cellebrite (Israel)
  • MSAB (Sweden)
  • Oxygen Forensics (U.S.)
  • Digital Forensics Corporation (U.S.)
  • Digital Detective Group Limited (U.K.)
  • Barracuda Networks, Inc. (U.S.)
  • Open Text Corporation (Canada)
  • LogRhythm, Inc. (U.S.)
  • Kroll, LLC (U.S.)
  • Magnet Forensics (Canada)
  • NUIX (Australia)
  • CY4OR Legal Limited (U.K.)
  • Flatworld Solutions Pvt. Ltd. (India)
  • Fire Eye, Inc. (U.S.)
  • Coalfire (U.S.)
  • Paraben Corporation (U.S.)
  • iDiscovery Solutions, Inc. (U.K.)
  • PT&C Forensic Consulting Services P.A. (U.S.)
  • Grayshift (U.S.)
  • LIFARS (U.S.)
  • Passware (Estonia)
  • Cado Security (U.K.)
  • TCS Forensics (Canada)
  • PwC (U.K.)
  • Exterro, Inc. (U.S.)
  • IBM (U.S.)
  • ADF Digital Forensics (U.S.)
  • Binary Intelligence, LLC (U.S.)
  • KLDiscovery (U.S.)
  • Optiv Security Inc. (U.S.)

Above are the key players covered in the report, to know about more and exhaustive list of global digital forensics market companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Global Digital Forensics Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.


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