The global digital forensics market is a growing sector focused on investigating and analyzing digital data for legal and cybersecurity purposes. Digital forensics involves extracting, preserving, and examining electronic evidence to uncover patterns, trace digital footprints, and aid in legal proceedings. The increasing frequency and sophistication of cyber-attacks drive demand for advanced forensic tools and services.
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Data Bridge Market Research analyses that the Global Digital Forensics Market was valued at USD 6.70 billion in 2021 and is expected to reach USD 17.08 billion by 2029, registering a CAGR of 12.40% during the forecast period of 2022-2029. The proliferation of internet of things (IoT) applications, coupled with growing demand for cloud computing and wireless data transmission, significantly propels the digital forensics market, fostering its robust expansion.
Key Findings of the Study
Bring your own device (BYOD) culture is expected to drive the market's growth rate
The BYOD culture, spurred by remote work and business digitization, fuels market growth. With employees using personal devices, the volume of confidential data stored across various platforms rises. This surge necessitates robust solutions in the digital forensics market, as organizations prioritize safeguarding sensitive information. The intersection of BYOD, remote work, and digitalization underscores the imperative for advanced digital forensic tools to address the evolving landscape of data security and privacy concerns.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware, Software and Tools, Services), Type (Computer Forensics, Mobile Device Forensics, Network Forensics, Database Forensics, Malware Forensics, Email Forensics, Automotive Forensics, Drone Forensics, Others), Application (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), Industry (Government and Defense, Banking, Financial Services, and Insurance, Telecom and IT, Retail, Transportation and Logistics, Law Firms, Healthcare, Media and Entertainment, Others), Mode of Purchase (Group Purchase, Individual), Distribution Channel (Third Party Distributor, Retail Sales, Online Sales, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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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.), and Optiv Security Inc. (U.S.), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
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 global digital forensics market is segmented into hardware, software and tools, and services
- On the basis of type, the global 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 global 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 global 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 global digital forensics market is segmented into group purchase, and individual
- On the basis of distribution channel, the global digital forensics market is segmented into third party distributor, retail sales, online sales, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global digital forensics market players in global digital forensics market are 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),
Market Developments
- In January 2021, LogRhythm strategically acquired MistNet to elevate its Security Information and Event Management (SIEM) capabilities. This acquisition focuses on bolstering cloud-based analytics, augmenting threat detection, and enhancing network visibility. By integrating MistNet's technology, LogRhythm empowers users with advanced machine-learning-based detection and response capabilities, fortifying their cybersecurity posture. This move aligns with the evolving landscape of cyber threats, reinforcing LogRhythm's commitment to providing comprehensive and proactive solutions in the realm of security information and event management
- In November 2020, FireEye, Inc. bolstered its cybersecurity capabilities by acquiring Respond Software, a leading cybersecurity investigation automation company known for the Respond Analyst. This USD 186 million acquisition empowered FireEye to expand its Detection and Response (XDR) offerings, delivering swifter outcomes in cybersecurity. The strategic move enhanced the company's ability to safeguard a diverse range of customers, showcasing its commitment to staying at the forefront of the evolving cybersecurity landscape with advanced and efficient solutions
- In March 2020, Open Text Corporation acquired XMedius, a Canadian leader in secure information exchange and unified communication solutions. This strategic move empowered Open Text with patented technologies, enhancing secure and collaborative communication. The acquisition facilitated the seamless transition of workloads to the cloud, unlocking an information advantage for organizations. Open Text solidified its leadership in secure information exchange, unified communications, and digital fax, positioning itself at the forefront of innovations in the evolving landscape of digital business solutions
- In January 2020, PwC unveiled "BRYTER," a groundbreaking technology featuring advanced automation capabilities. This innovative tool empowers users to construct professional applications specifically tailored for digital forensics services. Leveraging cutting-edge automation technology, BRYTER streamlines and enhances the efficiency of digital forensics processes. PwC's introduction of this technology marks a significant advancement in the field, offering a versatile solution to build tailored applications and furthering the capabilities of digital forensics services
Regional Analysis
Geographically, the countries covered in the global digital forensics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in the global digital forensics market during the forecast period 2022-2029
North America dominates the global digital forensics market due to the substantial presence of both major international players and local industry leaders in the region. The convergence of established and emerging technologies, along with a robust cybersecurity landscape, enhances the market's growth. The region's proactive approach to adopting advanced digital forensics solutions and the collaborative efforts between industry and government contribute to North America's prominence in driving innovations and setting industry standards.
Asia-Pacific is estimated to be the fastest-growing region in the global digital forensics market during the forecast period 2022-2029
Asia-Pacific is expected to dominate the global digital forensics market from 2022 to 2029, driven by a surge in cloud environment adoption for data storage in the region. The increased reliance on cloud services amplifies the need for advanced digital forensics solutions, as businesses prioritize securing data stored in virtual environments. This growth reflects the region's dynamic embrace of technology and underscores the pivotal role of digital forensics in ensuring the integrity and security of digital assets across diverse industries.
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