Digital Forensics Market will reach US$4.97 bn by the end of 2021 at a positive CAGR of 12.5%

  • Posted by Pragati P
  • September 6, 2016 2:01 PM BST
  • 132 views
Digital Forensics Market is driven by rising threats from crime and terrorist attacks, North America holds largest share of digital forensics market, digital forensics market grows with rising security concern across different industries along with rapid economic growth in emerging markets.

Digital forensics is primarily used to collect data and identify and analyze collected evidence from hard disks, computers, laptops, mobiles, and other digital devices. This technology is primarily implemented in criminal court cases and civil cases. With digital forensics, it has become possible to identify employee theft, especially in the IT, defense, and banking industries. Crimes related to cloud computing can also be tracked by using digital forensics. With constant advancements in the technology used for digital forensics, it has become possible for the investigators to collect, extract, and analyze accurate and clear data across various devices.

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Increasing safety concerns and growing cybercrimes have led to the development of digital forensics services and tools in numerous industries. Owing to the rising security concerns across various verticals such as defense, law enforcement, information technology, banking, education and logistics, health care, and others, the global digital forensics market is predicted to expand rapidly in the next five years. Advancements in forensics technology and tools such as fingerprint recovery from metals, the ability to recover data from electronic devices, and DNA profiling are expected to create new growth opportunities in the global digital forensics market in the coming few years.

Economic growth in emerging markets is expected to create growth opportunities in the global digital forensics market, but factors such as the increasing complexity of mobile devices and the persistent threat of government snooping are predicted to hamper the growth of the global digital forensics market in the years to come.

The global digital forensics market is segmented on the basis of type, industry, and geography. Based on geography, the global digital forensics market is divided into Asia Pacific, Europe, North America, and Rest of the World. In 2014, in terms of revenue, the global digital forensics market was dominated by North America, accounting for 53.20% of the total market.

Some of the prominent companies operating in the global digital forensics market are Guidance Software, Inc. (U.S.), AccessData Group, Inc. (U.S.), Binary Intelligence (U.S), Digital Detectives (U.S.), Lancope, Inc. (U.S.), LogRythm, Inc. (U.S.), Paraben Corporation (U.S.), Fireeye Inc. (U.S.), ASR Data (U.S.), and Global Digital Forensics (U.S.). Based on type, the global digital forensics market is classified into computer forensics, cloud, database, network, mobile forensics, and others. In 2014, the computer forensics segment accounted for 30% of the global digital forensics market.

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