The Digital Forensics market CAGR is projected to be 16.4% in the forecast period. Market size is also expected to exceed USD 26.48 billion by 2031.

Growing Demand

Service providers offer professional and managed digital forensic services. The professional services market has been further split into digital investigation & consulting, incident resolution, system integration, and training and education. As well as support and maintenance. Digital forensic services enhance digital software and hardware implementation and help streamline the detecting, analyzing, and reporting critical data. Also, digital services are often expensive and offered only by large companies such as E&Y, KPMG, PwC, and KPMG. Therefore, skilled labor and training are the main costs.

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The market for digital forensics is expected to be dominated by computer forensics during the forecast period

Technological advancements have made it easier to attack digital devices like computers and laptops. Most business transactions and personal transactions are carried out electronically. Email is used to complete deals, and data is saved on personal address books and hard drives. Computer forensics is identifying, preserving, collecting, analyzing, and reporting evidence found on such devices. Regulators, as well as government agencies, have paid a lot more attention to computer forensics. Computer forensic hardware and software can retrieve data from password-protected files, whether deleted or encrypted.

Restraining factors

The current year’s novel coronavirus virus outbreak has hurt the global digital forensic market. Many factors have slowed the market’s growth, such as closed manufacturing units (or scarcity of raw materials), unavailability or labor shortages, economic crisis, and other factors.

Market Key Trends

Network Forensics expects to have a significant market share

  • Wireless communication systems can provide internet access through mobile networks, but they are still susceptible and easy to be intercepted by data transmission. Network forensics involves collecting, analyzing, and recording network packets to determine where they came from.
  • Wired Equivalent Privacy, WEP, and WiFi Protected Access (WAP) does not provide sufficient security for wireless communications. Network forensics is becoming increasingly popular in numerous organizations.
  • Digital Forensics and Incident Response (DFIR) is used to conduct forensics if an organization has been infected with ransomware and another network intrusion. Advanced Persistent Threats (APTs) groups have recently attempted to hack into industrial control (ICS).
  • Many companies now use SaaS backups, which include an intrusion detection program that protects data against malicious attacks. Attivo Networks revealed its security solution for Google Cloud’s Managed Service Microsoft Active Directory (AD) in 2020. Google Cloud team reviewed Attivo’s solution. This reduces the risk to attack escalation for companies that run Active Directory using Google’s managed services.

Recent Development

  • Cellebrite acquired BlackBag Technologies on January 20, 2020, to expand its digital intelligence product portfolio.
  • Oxygen Forensics revealed in December 2019 that it had upgraded its flagship software, Oxygen Forensic Detective 12.1, powered by JetEngine. The product allows for image categorization or grouping. Investigators can use AI to categorize and classify images into 12 categories, including drugs, weapons, and nudity, to help them quickly find relevant images.
  • In June 2019, Oxygen Forensics partnered up with Rank One Computing for an expansion of its digital forensic capabilities. This partnership will allow Oxygen Forensics to capture and analyze the image and video data.
  • Oxygen Forensics’ Oxygen Forensics 11.4 was launched in May 2019 with improvements to KeyScout (Cloud Extractor) and JetEngine utilities. This includes the ability to extract web browser data directly from Windows PCs.
  • Magnet Forensics joined Grayshift in February 2019 as a partner to increase its capabilities and analyze, report, and acquire legal evidence from iOS devices.

Key Companies

  • AccessData Group LLC
  • FireEye
  • Paraben Corporation
  • CISCO
  • Guidance Software
  • LogRhythm
  • Micro Systemation AB
  • NUIX
  • Binary Intelligence LLC
  • IBM Corporation

Key Market Segments

Type

  • Computer Forensics
  • Network Forensics
  • Cloud Forensics
  • Mobile Device Forensics
  • Database Forensics

Application

  • Health Care
  • Education
  • Banking
  • financial services and insurance (BFSI)
  • Defense and Aerospace
  • Law Enforcement
  • Transportation and Logistics
  • Information Technology

Frequently Asked Questions

  • What are the current trends in digital forensics?
  • What verticals use digital forensics solutions the most?
  • Which direction will all of these developments lead the industry in the long and short term?
  • Which are the leading vendors in digital forensics, and how competitive is their analysis?
  • What are the driving forces and challenges in the digital forensics market?

Related Report:

Global Digital Forensics Components Market Major Manufacturers Production And Sales Industry Comparison Analysis, Types, And Application

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Global Forensics Products And Services Market Industry Growth Factors, Types And Applications Regional Analysis Key Players And Forecast To 2031

Global DNA Forensic Market Research 2022 Regional Industry Segment By Production Consumption Revenue With Sales And Growth Rate

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