Digital forensics market is expected to grow to US$ 6.95 billion by 2025 from US$ 3.08 billion in 2017. The sales of digital forensics is largely influenced by numerous economic and environmental factors and the global economy plays a key role in the development of digital forensics market. Today, there has been an explosion of digital devices and the estimated number of devices in use is approximately around half the population of the earth. Also, businesses have grown increasingly dependent on the cloud-based technologies owing to cost advantages and lesser total cost of ownership of the data. Focusing on core competencies of business has been the most common practice followed by large and successful business around the globe. And thus, carrying business related operations in-house while outsourcing the rest to third parties has been the most commonly found practice amongst businesses.
People these days are extensively inclined towards open networks like internet where business transactions, commercial activities and government services have become very frequent. This has further resulted into robust development and evolution of information security challenges and cyber threats. Furthermore, the diffusion of IoT (Internet of Things) paradigms, particularly in industrial sectors are anticipated to generate a new wave of misconducts including cyber-attacks jeopardizing an individual’s personal security and industrial espionage. The challenges in the digital forensics are further intensified by the leveraging usage of anti-forensics in malware, and cyber threat. However, the law-makers and digital forensics experts are constantly putting efforts to enhance their skills and abilities to dig out artefacts, and digital activities that are often hidden in massive database.
The pace at which digitalization is growing the world is anticipated to thrive for highly skilled professionals that can efficiently address and catapult the demand for digital forensics. To suffice the demand for awareness and understanding of digital forensics the government across the globe are organizing programs that support education of digital forensics. For instance, the University of Illinois at Urbana has taken an initiative to train its students on digital forensics and is anticipated to contribute to the increasing demand for skilled professionals in this field. Apart from this, Malaysia also has been promoting the readiness towards digital forensics and incorporates dedicated institute for digital forensics.
Globally, North America leads the market in terms of revenue, however for the coming years APAC is anticipated to grow exponentially. APAC is a rapidly developing region with several technological initiatives taking place simultaneously. Some of the developed countries such as China and Japan have readily adopted digital forensics in various sectors, otherwise the technology is still in the developing phase in other majority countries of APAC. Moreover, with the adoption of digital devices and advent IoT in the region’s government sector and also in different organizations, for the improvement of their business for enhancement of efficiency and modernization across the industrial, healthcare, enterprise, retail and municipality sectors the security issue is also expected to ascend.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the digital forensics industry.