Digital forensics, also known as computer forensics, is the application of science to identify, collect, examine, analyze and interpret data present on digital devices such as desktops, laptops, smartphones, and servers in a way that are legally admissible as evidence in court. Digital forensic process aims to find electronic evidence, reconstruct events leading to a cybercrime, and attribute devices to users. Digital forensic techniques are widely used by law enforcement and private organizations to aid criminal and civil investigations. The increasing threats of cybercrime and rising incidences of data breaches have significantly boosted demand for digital forensics solutions.
The global digital forensics market is estimated to be valued at US$ 4,501.0 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The rapid adoption of cloud computing is driving growth of the digital forensics market. Digital forensic solutions are increasingly supporting remote cloud investigations. The use of AI and machine learning is gaining traction in digital forensics. Technologies like neural networks and deep learning help in speeding up the tedious digital forensic processes. Vendors are focusing on developing automated solutions with advanced capabilities in data processing, analysis and investigation in response to the massive scale of digital evidence to be processed in short time periods.
Segment Analysis
The global digital forensics market is segmented by component, type, tool, organization size, deployment model, vertical and region. By component, the market is divided into hardware, software and services. The services segment dominated the market in 2023 with a market share of around 53% as digital forensic investigations require experienced professionals with specific skill sets to carry out various procedures and processes.
Key Takeaways
The global digital forensics market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing cybercrimes across the world. The digital forensics market size was valued at US$ 4,501.0 Mn in 2023.
Regional analysis:
North America dominated the global digital forensics market in 2023 with a share of around 40% owing to presence of major players conducting digital forensic investigations for government organizations in countries like the US and Canada. Asia-Pacific is expected to witness fastest growth during the forecast period due to increasing cybercrimes and growing adoption of technological advancements across industries in developing countries like India and China.
Key players:
Key players operating in the digital forensics market are 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., and Cisco Systems, Inc. AccessData Group is one of the leading players offering complete digital forensic investigation solutions to law enforcement agencies and enterprises globally.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it