The world digital dependence on technology to do business has grown in both the public and private sectors. Digital Forensics is a part of forensic science that deals with recovering and investigating material found in digital devices related to computer crimes/cybercrimes. It plays a vital role in checking the rise of the number of cyber-attacks, ransomware, malware, and other malpractices by acquiring data through illicit means. According to Renub Research report, Global Digital Forensics Market is estimated to reach US$ 13.49 Billion by 2027.
The adoption of digital forensics is expanding due to the advancements in the rising penetration in corporate sectors, traditional crime lab infrastructure, and the rise in cyber-attacks and crimes. According to the World Economic Forum and Federal Bureau of Investigation (FBI), in 2020, 791,790 cases of online correspondence theft were reported to the IC3. The evolution of computing shaped by the IoT and the rapid increase in computers, mobiles, and other electronic devices worldwide has contributed to digital forensics software demand. The software is minimizing processing time and also identifies fraud and theft based on evidence. For the year 2020, Worldwide Digital Forensics Industry was valued at US$ 6.02 Billion.
Globally, North America has always been most receptive to the adoption of digital forensics. With the massive appropriation of cloud-based applications in North America, the number of attacks is rising dramatically and becoming more sophisticated. Hence, numerous government and law enforcement agencies in the US are taking initiatives towards strengthening the digital forensic sector. The Asia Pacific and European regions comprise a broad geographical footprint that embeds many industrial and economic growths, which foresee massive adoption of digital forensics.
Digital Forensics is continuing to be an essential part of every single organization. As per our report, we have segmented End-users in banking, financial services and insurance (BFSI), Healthcare & life Science, Govt. & law Enforcement, Defense & Aerospace, IT & Tc and Others. Government sectors are the primary targets of rising cyber-attacks. The government is shifting their workload to the cloud for cost-savings, agility, and flexibility, which has increased organizations’ susceptibility to cyber-attacks. Therefore, digital forensics has gained much attention from forensics experts worldwide. As per this research study, Computer Forensics Market Size will grow with a CAGR of 12.22% during 2020-2027.
COVID-19 Impact on Worldwide Digital Forensics Industry
In this COVID-19 pandemic in order to avoid physical touch the number of digital transactions has increased drastically. But this trend has also led to unethical hacking and another cybercrime over the internet. Therefore, the demand for digital forensics has increased due to the COVID-19 pandemic.This will provide greater opportunities for the PerkinElmer, Inc., FireEye, Inc., MSAB Magnet forensics market players.
Key Players Performance
Xpera Risk Mitigation and Investigation, Canada’s largest national provider of investigations and risk solutions, in 2019, announced a powerful new digital evidence device with inclinations not offered anywhere in the Canadian private risk management market. This report covers four company analysis of Magnet forensics, MSAB, FireEye, Inc. and PerkinElmer, Inc. All the companies have studied from Overview, Recent Developments and Sales Analysis.
Renub Research Latest Report “Digital Forensics Market by Component (Software,Hardware, Services) by Region (North America, Europe, APAC, MEA, Latin America) by End User (BFSI, Healthcare & life Science, Govt. & law Enforcement, Defense & Aerospace, IT & Tc, Others) by Company (PerkinElmer, Inc., FireEye, Inc., MSAB, Magnet forensics)" studies the Digital Forensics Market. The report also comprises qualitative factors such as drivers, restraints, and opportunities.
Component – Digital Forensics Market has been covered from 3 viewpoints
Region - Digital Forensics Market has been covered from 5 viewpoints
1. North America
5. Latin America
End User – Digital Forensics Market has been covered from 6 viewpoints
2. Healthcare & life Science
3. Govt. & law Enforcement
4. Defense& Aerospace
5. IT &Tc
- Company Initiatives
- Sales Analysis
- PerkinElmer, Inc.
- FireEye, Inc.
- Magnet Forensics