Digital forensics technology extracts and analyses information from laptops, computers and hard disks and is often used in computer crime. The global digital forensics market is expected to grow with a CAGR of about 10% during the forecast period of 2016-2023. Increasing penetration of internet, smart devices, electronic devices etc. is adding growth in the global digital forensics market. However, limitations in cloud forensics and lack in specialized skill sets are the factors restraining the growth of the global digital forensics market during the forecast period.
Geographically, North America accounted for the largest market share in terms of revenue for the digital forensic market in 2016 and the region is expected to dominate the market during the forecast period owing to technological penetration as well as concerns regarding safety and security among defense and banking sectors in the region. Moreover, Asia Pacific is expected to be the fastest growing region for digital forensic market owing to increasing internet penetration in the region.
The growth in global digital forensics market is also influenced by the presence of major players such as Access Data (U.S.), MSAB (Sweden), Paraben Forensics (U.S.), Logrhythm Inc. (U.S.), NUIX (Australia) etc. To gain competitive advantage the major players adopt various strategies such as mergers & acquisitions, product launches etc.
Global digital forensic market report covers segmentation analysis of component, sub segment, tools, services and verticals. Report further covers segmentsof component which includes hardware, services and software. Software is expected to dominate the market during the forecast period owing to increasing software and mobile applications. Sub segment in digital forensics is divided as cloud forensics, computer forensics, mobile device forensics and network forensics. Computer forensics is expected to dominate the market during the forecast period. However, mobile device forensics is expected to be the fastest growing segment during the forecast period owing to increasing demand for mobile device applications. Tools in digital forensics are divided as analytics, data capture and preservation, data recovery, forensic data analysis, forensic decryption, review and reporting and other tools. Services provided by digital forensics are digital investigation and consulting, education and training, incident response, maintenance and support and system integration. Furthermore, the verticals adopting digital forensics include BFSI, government agencies and law enforcement, healthcare and life sciences, legal and professional, manufacturing, military and defense, public sector and utilities, retail and logistics, telecom and IT and other applications. BFSI and government agencies and law enforcement sector held the largest market share in terms of revenue in 2016 and is expected to dominate the market during the forecast period owing to increasing probability of cyber-attacks and security risks in the market.