Global Digital Forensics Market, By 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) - Industry Trends and Forecast to 2029
Market Analysis and Size
Digital forensics has gained immense popularity among enterprises owing to its capability of addressing numerous problems such as forensic analysis of digital devices, and facilitating IT security and incident response, among others. The technology is being considered an effective approach of streamlining and simplifying business tasks.
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. Computer Forensics accounts for the largest software segment in the respective market owing to the increase in the popularity among various government agencies and regulators. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Digital forensics refers to a branch of forensic science that focuses on identifying, acquiring, processing, analysing, and reporting data stored electronically. Electronic evidence is a component of almost all criminal activities, and digital forensics support is crucial for law enforcement investigations. Digital forensics involves collecting electronic evidence from various sources, such as computers, smartphones, remote storage, unmanned aerial systems, and shipborne equipment. The methodology generally followed includes extraction of data from the electronic evidence, processing it into actionable intelligence, and presenting the prosecution findings.
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 2019 - 2014)
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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 (US), Digital Forensics Corporation (US), Digital Detective Group Limited (UK), Barracuda Networks, Inc. (US), Open Text Corporation (Canada), LogRhythm, Inc. (US), Kroll, LLC (US), Magnet Forensics (Canada), NUIX (Australia), CY4OR Legal Limited (UK), Flatworld Solutions Pvt. Ltd. (India), Fire Eye, Inc. (US), Coalfire (US), Paraben Corporation (US), iDiscovery Solutions, Inc. (UK), PT&C Forensic Consulting Services P.A. (US), Grayshift (US), LIFARS (US), Passware (Estonia), Cado Security (UK), TCS Forensics (Canada), PwC (UK), Exterro, Inc (US), IBM (US), ADF Digital Forensics (US), Binary Intelligence, LLC (US), KLDiscovery (US), and Optiv Security Inc. (US), among others
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Market Opportunities
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Digital Forensics Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Penetration of Internet of Things (IoT)
The increase in the applications employing the Internet of Things – IoT acts as one of the major factors driving the growth of digital forensics market. Also, the surge in demand for cloud computing along with remote device monitoring and data transmission through wireless devices has a positive impact on the market.
- BYOD Culture
The rise in the culture of Bring Your Own Device (BYOD) coupled with remote working and digitalization of the business processes increasing the amount of confidential data which are stored on various devices accelerate the market growth.
- Monitoring of Remote Devices
The increase in need to monitor remote devices while allowing access only to specific people to avoid misuse of data and loss to the organization further influence the market. The rise in the investments in digital forensics hardware and software to receive consulting and services assist in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the digital forensics market.
Opportunities
Furthermore, adoption of digital forensic solutions in highly regulated industry verticals extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, use of crypto currencies will further expand the market.
Restraints/Challenges
On the other hand, issues with encryption and lack of digital forensics pre-planning among enterprises are expected to obstruct market growth. Also, inadequate technical expertise among digital investigators is projected to challenge the digital forensics market in the forecast period of 2022-2029.
This digital forensics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on digital forensics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Digital Forensics Market
COVID-19 had a positive impact on the digital forensics market due to the rise in number of industry verticals adopting digital forensics tools during the outbreak of COVID-19. Numerous industries, especially banking, financial services and insurance (BFSI), along with telecommunications and IT was deploying digital forensics to secure consumer data. The digital forensics market is expected to witness high growth in the post-pandemic scenario owing to the rise in awareness regarding the potential benefits of digital forensics and increase in adoption of BYOD.
Recent Developments
- LogRhythm acquired MistNet with the aim of enhancing SIEM (security information and event management) with cloud-based analytics, threat detection and network visibility in January’2021. The acquisition enables users to deliver machine-learning-based detection and response capabilities.
- Paraben launched E3 Forensic Platform with the 2.7 version in October’2020. The 2.7 version adds Support for Slack with cloud acquisitions, iOS 14 support for acquisition and analysis, ExFAT file system support and analysis, and Android 11 support for acquisition and analysis.
Global Digital Forensics Market Size
The digital forensics market is segmented on the basis of component, type, application, industry, mode of purchase and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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
- 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
Digital Forensics Market Regional Analysis/Insights
The digital forensics market is analysed and market size insights and trends are provided by country, component, type, application, industry, mode of purchase and distribution channel as referenced above.
The countries covered in the 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.
North America dominates the digital forensics market because of presence of large number of dominating and local players within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the use of cloud environment for data storage in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Digital Forensics Market
The digital forensics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to digital forensics market.
Some of the major players operating in digital forensics market are
- Cellebrite (Israel)
- MSAB (Sweden)
- Oxygen Forensics (US)
- Digital Forensics Corporation (US)
- Digital Detective Group Limited (UK)
- Barracuda Networks, Inc. (US)
- Open Text Corporation (Canada)
- LogRhythm, Inc. (US)
- Kroll, LLC (US)
- Magnet Forensics (Canada)
- NUIX (Australia)
- CY4OR Legal Limited (UK)
- Flatworld Solutions Pvt. Ltd. (India)
- Fire Eye, Inc. (US)
- Coalfire (US)
- Paraben Corporation (US)
- iDiscovery Solutions, Inc. (UK)
- PT&C Forensic Consulting Services P.A. (US)
- Grayshift (US)
- LIFARS (US)
- Passware (Estonia)
- Cado Security (UK)
- TCS Forensics (Canada)
- PwC (UK)
- Exterro, Inc (US)
- IBM (US)
- ADF Digital Forensics (US)
- Binary Intelligence, LLC (US)
- KLDiscovery (US)
- Optiv Security Inc. (US)
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