The global digital forensics market size reached US$ 5.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.9% during 2023-2028.
Digital forensics refer to the process of analyzing, recovering, interpreting and uncovering electronic data. It is widely used to collect information and prosecute all types of crimes, including financial frauds, thefts, and murder, gain additional evidence, and prevent and suspect further crimes from happening. Digital forensics deals with the investigation, recovery, evaluation and extraction of evidence from digital sources, such as laptops, computers and mobiles. It assists in reducing sampling risk, efficiently tracking down cybercriminals, ensuring integrity, producing evidence in the court, and extracting, processing, and interpreting the factual evidence. As a result, digital forensics is widely used in the telecommunications and information technology (IT) sector, government and enforcement agencies, and banking, financial services and insurance (BFSI) industry.
Digital Forensics Market Trends:
The increasing incidences of cybercrimes in the BFSI industry across the globe is driving the growth of the market. Digital forensics aid in supporting the quick and precise investigation of financial frauds and solving cases. In line with this, the increasing availability of easy internet connection, along with the proliferation of various network-based applications and devices, such as e-mail services, computers, cloud-based technologies, internet banking and smartphones are favoring the market growth. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) with digital forensics to precisely observe commonalities in communication and detect elements in photos and videos are providing an impetus to the market growth. Additionally, the increasing product demand to recover deleted files from digital devices and obtain encrypted data due to the rising fraud and identity theft cases is positively impacting the market growth. Other factors, including significant improvements in information technology (IT) infrastructure, and the implementation of various government initiatives to promote advanced security solutions protecting sensitive data are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital forensicsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type, tool and end user.
Breakup by Component:
Breakup by Type:
Breakup by Tool:
Data Acquisition and Preservation
Forensic Data Analysis
Review and Reporting
Breakup by End User:
IT and Telecom
Government and Law Enforcement Agencies
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AccessData Group Inc. (Exterro Inc.), Binary Intelligence LLC, CCL (Solutions) Group Ltd, Digital Detective Group Limited, Global Digital Forensics, KLDiscovery, LogRhythm Inc., Magnet Forensics, MSAB, OpenText Corporation, Oxygen Forensics Inc. and Paraben Corporation.
Base Year of the Analysis
Component, Type, Tool, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
AccessData Group Inc. (Exterro Inc.), Binary Intelligence LLC, CCL (Solutions) Group Ltd, Digital Detective Group Limited, Global Digital Forensics, KLDiscovery, LogRhythm Inc., Magnet Forensics, MSAB, OpenText Corporation, Oxygen Forensics Inc. and Paraben Corporation
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Key Questions Answered in This Report
The global digital forensics market was valued at US$ 5.8 Billion in 2022.
We expect the global digital forensics market to exhibit a CAGR of 9.9% during 2023-2028.
The rising number of fraud and identity theft cases, along with the growing demand for digital forensics to recover deleted files from devices and obtain encrypted data, is primarily driving the global digital forensics market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of digital forensics for quick and precise investigation of financial frauds, during remote working scenario.
Based on the component, the global digital forensics market has been segmented into hardware, software, and service. Currently, service holds the majority of the total market share.
Based on the type, the global digital forensics market can be divided into mobile forensic, computer forensic, network forensic, and others, where computer forensic currently exhibits a clear dominance in the market.
Based on the tool, the global digital forensics market has been categorized into data acquisition and preservation, forensic data analysis, data recovery, review and reporting, forensic decryption, and others. Among these, forensic data analysis accounts for the majority of the global market share.
Based on the end user, the global digital forensics market can be segregated into BFSI, IT and telecom, government and law enforcement agencies, retail, healthcare, and others. Currently, government and law enforcement agencies hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global digital forensics market include AccessData Group Inc. (Exterro Inc.), Binary Intelligence LLC, CCL (Solutions) Group Ltd, Digital Detective Group Limited, Global Digital Forensics, KLDiscovery, LogRhythm Inc., Magnet Forensics, MSAB, OpenText Corporation, Oxygen Forensics Inc., and Paraben Corporation.
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