The Digital forensics industry is projected to grow from USD 11.6 Billion in 2023 to USD 22.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.40% during the forecast period (2023 - 2030).
Digital forensics is referred to a branch of forensic science that contours with the recovery and investigation of material found in digital devices related to computer crimes/cybercrimes. It is mainly the process of uncovering and interpreting electronic data. Preserving any evidence in its original form is the main goal of the digital forensics process; while performing a structured investigation with the collection, identification, and validation of the digital information. Digital forensics plays very eloquent part in big business applications to resolve numerous issues like working with IT security and incident response to facilitate the human resource examinations and forensic investigation of digital services. It is a complex process that aids business associations to smooth out and simplify business assignments by recognizing issues and increment litigation, examinations, and regulatory availability.
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Key Players:
Key Companies in the Digital Forensics market include,
- AccessData Group LLC
- ADF Solutions
- Cellebrite Paraben
- Coalfire
- Digital Detective
- LogRhythm
- Magnet Forensics
- MSAB
- OpenText Corporation
- Oxygen Forensics
The upsurge in the applications employing the Internet of Things (IoT) has generated the demand for cloud computing and remote device monitoring and data transmission through wireless devices. Cloud computing and remote devices have their own challenges of data theft and data protection during wireless transmission. The surge in the BYOD culture combined with remote working and digitalization of the business processes has augmented the amount of sensitive and confidential data which are stored on numerous devices which are remotely connected.
The global Digital Forensics Market report furnishes an integrated evaluation of the market. The report tends to a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors playing an eloquent role in the market.
Regional Analysis:
The global Digital Forensics Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
North America is projected to dominate the global digital forensics market during the forecast period due to the surging cases of cyber-attacks and security threats, and presence of major players in this region. Furthermore, augmenting penetration of the internet and electronic devices in the region is awaited to propel the growth. Increasing technological advancements in the forensics department and development of advance theft mechanisms are encouraging public as well as public sectors to invest in the market, providing attractive revenue generation opportunities for established players as well as new entrants to gain greater market share.
Asia Pacific is anticipated to witness a fastest growth in the global digital forensics market due to surging use of cloud environment for data storage and technological advancements.
Market Segmentation:
The Digital Forensics Market is segmented into the following types;
By Type:
- Computer Forensics
- Network Forensics
- Cloud Forensics
- Mobile Device Forensics
- Database Forensics
By Component:
- Hardware (Systems, Network Devices, Cables, Adapters)
- Software
By Application:
- Digital Investigation and Consulting
- Incident Response
- System Integration
- Training
- Maintenance and Support
By Deployment:
- Military and Defence
- Government Agencies
- Healthcare
- BFSI
- Retail and Logistics
- Telecommunication
- Media and Entertainment
- Others (Private Security, etc.)
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Digital Forensics Industry Developments:
January (2023): The National Institute of Standards and Technology (NIST) releases a new guide on digital forensics best practices. The guide provides guidance on how to collect, preserve, analyze, and report on digital evidence.
February (2023): The European Union's General Data Protection Regulation (GDPR) goes into effect. The GDPR imposes new requirements on organizations that collect and process personal data of individuals in the European Union. These requirements have implications for digital forensics investigations, as organizations must now be able to demonstrate that they are processing personal data in a lawful and transparent manner.
March (2023): The United States Department of Justice (DOJ) releases a new report on the state of digital forensics. The report identifies several challenges facing the digital forensics community, including the increasing volume of digital data, the evolving nature of cybercrime, and the need for better training and education.
April (2023): The International Organization for Standardization (ISO) publishes a new standard on digital forensics. The standard provides guidance on the principles, processes, and techniques used in digital forensics investigations.
May (2023): The FBI releases a new training course on digital forensics. The course covers the basics of digital forensics, including how to collect, preserve, analyze, and report on digital evidence.
June (2023): The SANS Institute hosts a conference on digital forensics. The conference brings together experts from the public and private sectors to discuss the latest trends and challenges in digital forensics.
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