Digital Forensics Market, By Forensic Type (Network forensics, Computer forensics, Cloud forensics, Mobile device forensics), By Component (Software, Services, Hardware), By Tools (Data Acquisition and Preservation, Forensics Data Analysis, Data Recovery, Review and Reporting, Forensic Decryption, Others), By Vertical (Government and Defense, Banking, Financial Services, Insurance (BFSI), Telecom and IT, Retail, Healthcare, Others), By Region – Global Analysis Forecast Till 2030

The Global Digital Forensics Market size was estimated at USD 5739 Million in 2021 and is expected to hit around USD 11,310 Million by 2030, projected to grow at a CAGR of 11.4% during the forecast period 2022 to 2030.

Digital forensics is essential to enterprise applications because it helps with incident response and IT security, which in turn helps with human resource investigations and the forensic examination of digital devices. By identifying problems and boosting litigation, investigation, and regulatory preparation, digital forensics is a multidimensional process that aids corporate organisations in streamlining and simplifying their operational responsibilities. The digital forensics process entails a number of phases and impacts different stages of an investigation, including data collection, hosting, review, processing, production, email analytics, and social networking & timeline analysis.

Market Dynamics

Drivers:

As a result of expanding retail and consumer goods sectors, the global market for digital forensics is predicted to increase significantly throughout the forecast period. With the potential to affect finances, brand value, and customer trust, frauds could provide a problem for the consumer goods sector. Transporters, vendors/suppliers, third-party manufacturers or subcontractors, stockiest, packers, and other third-party service providers are examples of the different third-party touch points that businesses that deal with consumer goods frequently have. The likelihood of difficult-to-identify collusive frauds is rising as a result of these third-party touch points in the consumer products sector.

Businesses in the consumer products sector are employing digital forensic technologies to optimise their business processes in an effort to reduce these security concerns. Additionally, e-commerce is growing as a new route of distribution for the consumer products sector. Supply chains are now used as a means of fraud, including counterfeiting. For instance, unlicensed and illegal online third-party sales channels may provide steep discounts on branded goods. These branded goods are typically obtained through supply-chain leaks.

Restraints:

The digital forensics market is not growing as quickly as it should be due in large part to the lack of knowledge among small and medium-sized businesses. Due to financial limitations, small and medium-sized businesses (SMEs) are hesitant to embrace these forensics tools because they are costly and sophisticated. A significant barrier to the market's expansion is the lack of skilled workers, which is another issue that SMEs face. The Institute of Electrical and Electronics Engineers Analysis shows that whereas American businesses have adopted digital forensics technology to a large extent, European businesses, particularly small and medium-sized businesses (SMEs), have not yet fully realised its potential.

Key players:

• AccessData Group Inc.

• Guidance Software Inc.

• OpenText Corp.

• Oxygen Forensics

• Paraben Corporation

• Cellmark Forensic Services

• Binary Intelligence LLC

• FireEye Nuix Pty Ltd.

• IBM Corporation

• LogRhythm Inc.

• Magnet Forensics Inc.

• Cisco Systems Inc.

Market Segmentation:

Digital Forensics Market, By Forensic Type:

• Computer forensics

• Network forensics

• Mobile device forensics

• Cloud forensics

Digital Forensics Market, By Component:

• Hardware

• Software

• Services

Digital Forensics Market, By Tools:

• Data Acquisition and Preservation

• Forensics Data Analysis

• Data Recovery

• Review and Reporting

• Forensic Decryption

• Others

Digital Forensics Market, By Vertical:

• Government and Defense

• Banking

• Financial Services and Insurance (BFSI)

• Telecom and IT

• Retail

• Healthcare

• Others

Digital Forensics Market, By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa (MEA)

Regional Analysis:

Given the increasing use of cloud environments for data storage, Asia Pacific is anticipated to experience considerable growth throughout the projected period. Businesses in industries like banking, financial services and insurance (BFSI), retail, and government are moving their workloads to the cloud for cost savings, agility, and flexibility, which has raised the susceptibility of these businesses to cyberattacks. As a result, forensics professionals in Asia Pacific have begun to pay close attention to cloud forensics.

Scope of the Report:

User

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