The digital forensics market is expected to grow at a CAGR of 11.2%, from a market worth US$ 10.07 billion in 2022 to US$ 23.62 billion by 2030. In 2021, the value of the global cybersecurity market was 8% accounted for by digital forensics.
The dynamics of the digital forensics industry will be contrasted and evaluated, according to Future Market Insights. Investments in digital forensics solutions have been motivated by an increase in ransomware, malware, cyberattacks, and other unlawful data collection techniques. Furthermore, the demand for the digital forensics market has grown as a result of the expansion of government requirements to meet data protection standards.
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Key takeaways from the Digital Forensics Market Report:
- The increasing cases of cyber threats and attacks in the government, law enforcement, and other sectors are resulting in higher adoption of digital forensics solutions all over the world
- Among the end users, the government & law enforcement sector will maintain the lead, followed by the legal services firms throughout the forecast period
- The North American digital forensics market will lead other regions during the forecast period
Rising Adoption of Artificial Intelligence Boosting Growth:
Since the past decade, artificial intelligence has been increasingly adopted by the digital forensics market to obtain more advanced results.
As artificial intelligence is highly efficient in locating and identifying relevant elements in video clips and pictures to spot the commonalities in time stamps, places, communications, and others, it is widely preferred by the digital forensics market across the globe.
With the increasing adoption of artificial intelligence, the digital forensics market is getting more efficient and fast in data investigation, data recovery, and other crucial parts of crime investigations.
As artificial intelligence is getting more widely popular, its increased adoption is expected to grow the global market further shortly.
Competitive Landscape:
Companies offering digital forensics are focusing on launching advanced digital forensics solutions to sustain growth.
For instance,
- FireEye Inc. has launched its extensive range of digital forensics and investigation solutions to neutralize threats with intelligent, cutting-edge investigative and forensic data analysis tools.
- IBM Corporation released its exclusive IBM QRadar Incident Forensics, providing enterprise IT security teams with better visibility into security incident-related network activities.
Leading Key Players:
- FireEye Inc.
- IBM Corporation
- Micro Systemation AB
- Cellebrite Ltd.
- KPMG
- Ernst & Young
- PwC
- Deloitte
- AccessData Group, Inc.
- LogRhythm
- Binary Intelligence Technology Ltd.
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Which Region Is Expected To Lead The Digital Forensics Market?
North America being an early adopter of the latest technologies, is witnessing an increase in the rate of cybercrimes, which is fuelling the demand for digital forensics in the region. The North American region USD holds the largest market size during the forecast period. The increasing adoption of cloud technologies has further pushed the market growth making it the topmost contributor to the global digital forensics market value.
Driven by the rising adoption of artificial intelligence and novel technologies, the market in North America is projected to expand during the forecast period.
Digital Forensics Market Segmentation:
By Type:
- Computer Forensics
- Mobile Device Forensics
- Network Forensics
- Database Forensics
- Cloud Forensics
By Component:
- Digital Forensics Hardware
- Digital Forensics Software
- Digital Forensics Services
By End User:
- Government & Law Enforcement
- Legal Services Firms
- Military & Defense
- IT & Telecom
- BFSI
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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