Digital
Forensics Market and Information Technology Analysis by 2025
Global
Digital Forensics Market: Snapshot
Digital
forensic involves integrating computer science with laws that are
needed to investigate crime. It involves complete recovery and then
interpretation of data present in digital devices to be presented in
law courts and mostly involves cyber crime. Investigation in digital
forensics is carried out in three stages which includes exhibit
acquisition, investigation and analysis along with reporting of
crime.
Forensic
technology has become an important component of financial
investigations which includes contentious, non-contentious, and
fraud-related litigation. Forensic technology experts use various
forensic technology tools to gather evidence and make a strong case
against criminals.
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The
global digital
forensics market stood at a valuation of US$2.87 bn in 2016 and
is estimated to be worth US$6.65 bn by 2025, rising at a CAGR of 9.7%
from 2017 and 2025.
Today,
cyber criminals are causing unprecedented damage using simple IT
tools or cloud services. They leak confidential consumer information
or valuable business information by hacking personal files of
individuals or organizations that leads to disruption in functioning.
This requires evidence-based investigation for information recovery,
thereby driving the digital forensics market.
Moreover,
the increasing trend of cloud-based solutions and Internet of Things
technology has increased the risk of malware and virus, further
putting confidential information at risk acting as another key driver
for this market. The use of multiple channels leading to the growth
of sophisticated crime, especially for hacking organizational
information that is related to IT applications has further pushed the
growth of this market.
However,
rising use of mobile devices and their growing complexities are
posing a challenge to the growth of this market. This is because
retrieving information from certain devices is a herculean task,
which makes it difficult to reach to the real culprit in case of
cybercrimes.
Governments
have also raised concerns regarding the accessibility of mobile
platforms of certain companies further posing a challenge to the
market’s growth. Nevertheless, the increasing relevance of digital
evidence to expose criminals is expected to extend growth
opportunities to the digital forensics market.
Mobile
Device Forensics to Emerge as a Key Type Segment
In
terms of type, the digital forensics market is classified into
computer forensics, database forensics, cloud forensics, network
forensics, mobile device forensics, and others. In 2016, the market
was led by computer forensics followed by mobile device forensics.
By
application, healthcare, banking, financial services and insurance
(BFSI), law enforcement, information technology, education, defense
and aerospace, transportation and logistics, and other are the
segments into which the digital forensics market is divided. Law
enforcement and defense and aerospace are the leading application
segments in the market.
Asia
Pacific to Continue Contributing Substantial Revenue to Market
On
the basis of geography, the global market for digital forensics is
segmented into North America, Asia Pacific, Europe, Latin America,
and the Middle East and Africa. In 2016, North America trailed by
Europe stood as the key regional segments of the market. Asia Pacific
holds substantial revenue in the global digital forensics market. The
increasing trend of cloud based solutions and internet of things
technology in these regions is acting as the major growth driver in
these regions. In addition, increasing growth of well-planned
sophisticated cybercrimes and malware that has risked the
confidentiality of intelligence data in many nations in these regions
is also a key factor driving the digital forensics market.
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Some
of the key companies in the digital forensics market include
AccessData Group LLC, FireEye Inc., Paraben Corporation, CISCO,
Guidance Software Inc., LogRhythm Inc., Micro Systemation AB, NUIX,
Binary Intelligence LLC, and IBM Corporation among others.
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