New York, US, Nov. 23, 2021 (GLOBE NEWSWIRE) --
Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Digital Forensics Market information by Type, by Components, by Application and Region – forecast to 2027” market size to grow at a compound annual growth rate of 11% by 2026.
Market Scope:
The rising rate of cybercrime and security concerns, as well as the rise in insider attacks, are important drivers driving the growth of the digital forensics industry. The growing number of applications that use the internet of things (IoT), as well as the increased need for cloud computing, remote device monitoring, and data transmission via wireless devices, are propelling the digital forensics industry forward.
Dominant Key Players on Digital Forensics Market Covered are:
- AccessData Group LLC
- ADF Solutions
- Cellebrite Paraben
- Coalfire
- Digital Detective
- LogRhythm
- Magnet Forensics
- MSAB
- OpenText Corporation
- Oxygen Forensics
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Market USP Exclusively Encompassed:
Market Drivers
The widespread adoption of BYOD culture, together with remote working and digitization of business operations, as well as the growing volume of sensitive and confidential data saved on numerous devices, all have an impact on the digital forensics market. The rising rate of cybercrime and security concerns, as well as the rise in insider attacks, are important drivers driving the growth of the digital forensics industry. The growing number of applications that use the internet of things – IoT – as well as the increased need for cloud computing, remote device monitoring, and data transmission via wireless devices are propelling the digital forensics industry forward. The widespread adoption of BYOD culture, together with remote working and digitization of business operations, as well as the growing volume of sensitive and confidential data saved on numerous devices, all have an impact on the digital forensics market.
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Segmentation of Market Covered in the Research:
The global digital forensics industry has been segmented into type, component, deployment, and application.
By type, the global digital forensics industry has been segmented into computer forensics, network forensics, cloud forensics, mobile device forensics, and database forensics.
By component, the global digital forensics industry has been segmented into hardware and software. The hardware segment has been further segmented into systems, network devices, cables, and adapters.
By application, the global digital forensics market has been segmented into digital investigation and consulting, incident response, system integration, training, and maintenance and support.
By deployment, the global digital forensics market has been segmented into military and defense, government agencies, healthcare, BFSI, retail and logistics, telecommunication, media and entertainment, and others.
Regional Analysis
North America to Dominate the Global Market
North America held the biggest market share due to the region's well-developed information and communications technology (ICT) infrastructure and increased number of cyber-attacks. Over the last few years, there has been tremendous growth in cyber-attacks. This expansion is primarily due to the region's increased adoption of cloud-based services, as cloud computing systems are increasingly vulnerable to cyber-attacks and data leakages.
As a result, the demand for digital forensics to collect, handle, preserve, analyze, and present computer-related evidence for counterintelligence, fraud, network vulnerability mitigation, criminal or law enforcement investigations is increasing.
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COVID-19 Impact on the Global Digital Forensics Market
As the majority of organizations across the world adjust to new remote working rules and employees work from home, cyber-attacks and other digital crimes are on the rise. Businesses are transitioning to cloud-based solutions that allow them to continue operations while working remotely. To prevent the spread of the deadly virus, cyber attackers have targeted employees who work from home. Since the lockdowns were imposed, the FBI has documented a 300 percent spike in cyberattacks. Furthermore, the Cybersecurity and Infrastructure Security Agency (CISA) issued a press release outlining Internet vulnerabilities linked with virtual private networks (VPN), residential Wi-Fi networks, and other hardware and software infrastructure installed at homes. However, digital forensics companies are playing an important role in overcoming and dealing with these difficulties, providing digital forensics and incident response technologies to defend and prevent cyberattacks.
As businesses have abruptly transitioned to digital infrastructure with remote solutions, the demand for digital forensics has skyrocketed. Cyberattacks on sensitive company information are becoming more common in a variety of industries, including healthcare, manufacturing, logistics, administration, and government institutions. Furthermore, the number of digital transactions has skyrocketed, owing primarily to the lockdowns, with governments pushing people to use contactless payment methods in order to avoid the spread of COVID-19. However, this trend has attracted a large number of unethical hackers who are involved in fraudulent activities and other cybercrimes on the internet.
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Industry News
In January 2020, Cellebrite acquired BlackBag Technologies to enhance Cellebrite's line of digital intelligence products.
In March 2020, AccessData Group released the latest release of Quin-C. The new edition includes prebuilt workflow options for both legal reviewers and forensic investigators, as well as critical mobile data processing, review, and analysis capabilities and enhanced viewer technology.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
