IMARC Group's report titled “Digital Forensics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global digital forensics market size reached US$ 5.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.9% during 2023-2028.
Digital forensics involves the systematic analysis, recovery, interpretation, and extraction of electronic data for investigative purposes. It plays a crucial role in collecting evidence, prosecuting various crimes such as financial fraud, theft, and murder, preventing further crimes, and gathering additional evidence. Digital forensics focuses on investigating, recovering, evaluating, and extracting evidence from digital devices such as laptops, computers, and mobile devices. It aids in reducing sampling risk, efficiently tracking cybercriminals, ensuring data integrity, producing evidence admissible in court, and extracting, processing, and interpreting factual evidence. Consequently, digital forensics solutions find extensive applications across numerous sectors, such as telecommunications, information technology (IT), government, banking, financial services, and insurance (BFSI), etc.
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Digital Forensics Market Trends and Drivers:
The digital forensics market is primarily driven by the increasing cybercrimes targeting the banking, financial services, and insurance (BFSI) industry, which has created a demand for digital forensics solutions to support efficient and accurate investigations into financial fraud and other criminal activities. Additionally, the expanding availability of internet connectivity and the elevating proliferation of network-based applications and devices such as email services, computers, cloud-based technologies, internet banking, and smartphones, which have expanded the potential attack surface for cybercriminals, is acting as another significant growth-inducing factor. Apart from this, the escalating integration of artificial intelligence (AI) with digital forensics, which offers an improved ability to identify patterns in communication and detect elements in photos and videos, is also positively influencing the market growth. Moreover, other factors, such as significant improvements in information technology (IT) infrastructure and the launch of government initiatives aimed at promoting advanced security solutions to protect sensitive data, are expected to bolster the digital forensics market over the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Hardware
- Software
- Service
Breakup by Type:
- Mobile Forensic
- Computer Forensic
- Network Forensic
- Others
Breakup by Tool:
- Data Acquisition and Preservation
- Forensic Data Analysis
- Data Recovery
- Review and Reporting
- Forensic Decryption
- Others
Breakup by End User:
- BFSI
- IT and Telecom
- Government and Law Enforcement Agencies
- Retail
- Healthcare
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- AccessData Group Inc. (Exterro Inc.)
- Binary Intelligence LLC
- CCL (Solutions) Group Ltd
- Digital Detective Group Limited
- Global Digital Forensics
- KLDiscovery, LogRhythm Inc.
- Magnet Forensics
- MSAB
- OpenText Corporation
- Oxygen Forensics Inc. and Paraben Corporation.
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