Digital Forensics Market

Global Digital Forensics Market Size (2024 to 2032)

The global digital forensics market is predicted to reach USD 11.66 billion in 2024 and USD 37.96 billion by 2032, expanding with a CAGR of 15.9% over the forecast period.

Digital forensics collects, identifies, extracts, and analyzes the digital data available on computers, laptops, mobile phones, hard drives, floppy disks, and optical discs. These solutions have become integral to criminal and civil court cases and private enterprises as they reduce employee theft in sectors like banking, defense, and others. 

The drastic increase in market growth is mainly due to the increased use of IoT devices that require a digital forensics solution. The government and many industries are willing to invest in this new solution due to the high risk of crime and loss of confidential information. 

MARKET DRIVERS

The increasing demand for using electronics connected to the Internet of Things is massively driving the digital forensics market.

As IoT interconnects devices, omnipresent communications and connections between them lead to the widespread use of them in several areas that hold private and confidential information. This results in an increasing number of cybercrime attacks.

MARKET RESTRAINTS

The major restraint in this market is the lack of preplanning among the enterprises, which could lead to serious setbacks.

Most of them do not insure their data until it has been corrupted. This not only would lead to a huge loss of data but will also lead to the loss of privacy and business as a whole.  Another setback to the global digital forensics market is the lack of specialized skills, which leads to a high level of encryption due to the increased use of IoT Devices, which hampers the growth of the market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Digital Forensics Market Analysis By Component

The global digital forensics market is divided into three types by component: hardware, software, and services. The hardware and software segments are expected to be the market leaders during the forecast period, with the highest CAGR. These help strategize, detect, and analyze critical data.

Global Digital Forensics Market Analysis By Hardware

The global market is separated into forensic systems, forensic devices, forensic write blockers, cables, adapters, hardware enclosures, batteries, and storage devices.

Global Digital Forensics Market Analysis By Services

The digital forensics market is divided into professional (digital investigation and consulting, incident response, system integration, training and education, and support and maintenance) and managed services.

Global Digital Forensics Market Analysis By Type

The digital forensics market by type has been segmented into computer forensics, network forensics, mobile device forensics, cloud forensics, and endpoint forensics.

The computer forensics segment is estimated to be the market leader during the forecast period. It is capable of recovering hardware and software data that is encrypted, deleted, or password protected. Government agencies and regulators are investing in it.

Network forensics is likely to hold a significant share in the digital forensics market in the future. It captures records and analyzes the network packets to identify the main source of network security attacks. The goal of network forensics is to collect evidence to control the increasing number of attacks on the World Wide Web. 

Global Digital Forensics Market Analysis By Tool

The global digital forensics market tool helps investigate the data stored in digital devices to examine the suspects’ data and use it as digital evidence in court. The tool is divided into forensic data analysis, data acquisition and preservation, data recovery, review and reporting, forensic decryption, file viewer, registry analysis tools, and email analysis. The cloud forensics is estimated to be the market leader during the outlook period with a fast-growing CAGR of 13.3%. These tools are increasingly being used to resolve issues related to cyber threats in enterprises.

Global Digital Forensics Market Analysis By End-User

The Digital Forensics Market by end-user is divided into government and law enforcement agencies, banking, financial services and insurance (BFSI), telecom and information and technology (IT), retail, healthcare, media and entertainment, manufacturing, energy and utilities, transportation and logistics, education and aerospace. The BFSI sector is foreseen to be the market leader over the evaluated years as it helps identify a wide number of financial frauds and controls the rising demand to investigate these frauds globally. 

REGIONAL ANALYSIS

North America is estimated to be the market leader in the digital forensics market by region over the forecast period. This is due to the increased willingness to adapt to digital forensics in the region. North America has been the home for many key players in digital forensics over the years. The demand for this market in the region is rapidly increasing due to the increase in rapid penetration of devices such as laptops, smartphones, and USBs, which lead to cyber-attacks. Moreover, due to the increase in cybercrime rate, governments and law enforcement in this region are taking initiatives and investing in developing digital forensics.

Even though North America is the market leader, in the following years, the Asia Pacific is likely to grow exponentially. The region is rapidly adapting to digital forensics to improve and enhance the efficiency and modernization of different industries such as healthcare, retail, and enterprise. APAC has been the home for manufacturing electronic devices over the years, and due to this, the government and private sectors are focusing on developing digital forensics in the region.

KEY PLAYERS IN THE GLOBAL DIGITAL FORENSICS MARKET

International Business Machines (IBM) Corporation (United States), Binary Intelligence LLC (United States), Fire Eye Inc. (United States), Access Data Group LLC (United States), Kroll Ontrack Inc. (United States), Cellebrite (Israel), MSAB (Sweden), OpenText (Canada), Oxygen Forensics (United States), ADF Solutions (United States), Digital Detective (United States), LogRhyhm (United States), Magnet Forensics (Canada), Paraben (United States), And Nuix (Australia).

RECENT HAPPENINGS IN THE GLOBAL DIGITAL FORENSICS MARKET

In 2018, Kroll launched a new product in the cyber risk platform called New Kroll Cyber Risk Rank ER for the insurance industry. This is an online solution that helps businesses measure their cyber risk and accordingly design insurance. This new solution helps businesses in different industries, as well as brokers and underwriters in the insurance industry.

DETAILED SEGMENTATION OF THE GLOBAL DIGITAL FORENSICS MARKET INCLUDED IN THIS REPORT

This research report on the global digital forensics market has been segmented and sub-segmented based on the component, hardware, services, type, tool, end-user, and region. 

By Component

• Software
• Hardware
• Services

By Hardware

• Forensic Systems
• Forensic Devices
• Forensic Write Blockers
• Cables
• Adapters
• Hard Drive Enclosures
• Batteries
• Storage Devices

By Services

• Professional
  • Digital Investigation And Consulting
  • Incident Response
  • System Integration
  • Training And Education
  • Support And Maintenance
• Managed Services

By Type

• Computer Forensics
• Network Forensics
• Mobile Device Forensics
• Cloud Forensics
• End-Point Forensics

By Tool

• Forensic Data Analysis
• Data Acquisition And Preservation
• Data Recovery
• Review And Reporting
• Forensic Decryption
• File Viewers
• Registry Analysis Tools
• Email Analysis Tools

By End-User

• Government and Law Enforcement Agencies
• BFSI            
• Telecom and Information And Technology
• Retail
• Healthcare
• Media and Entertainment
• Manufacturing
• Energy And Utilities
• Transportation And Logistics
• Education and Aerospace

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa