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Digital Forensics Market Estimated to Grow at a CAGR of 16.4 % during Forecast Period 2017- 2027

Mar 1st 2019 at 5:03 AM

A new report titled “Digital Forensics Market Estimated to Grow at a CAGR of 16.4 % during Forecast Period 2017- 2027” has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Digital Forensics market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Digital Forensics across the globe.

The global digital forensics market includes various types of forensics such as computer forensics, mobile forensics, network forensics, database forensics, and forensic data analysis. Among these, the computer forensics market was seen leading the global market till 2016, as computers were used widely by digital forensics teams to collect critical evidences from digital data and identify the culprits responsible for a particular crime. While the use of computer devices remains the same in the corporate sector, the mobile devices market keeps growing given an increase in the demand for mobile phones all over the world. This has also impacted the digital forensics market, with mobile devices being widely used now to gather useful evidence from digital data.

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According to Future Market Insights’ analysis, mobile device forensics has taken over the market with a projected valuation of more than US$ 2,300 Mn by 2027, up from just about US$ 507 Mn in 2017. The mobile device forensics market is expected to grow at a CAGR of 16.4% during the period of study.

Rising digital crime and concerns about information security to widen the scope of the digital forensics market

Cyber criminals employ a combination of sophisticated technologies to be successful in their target crime missions. Cyber criminals target individuals as well as businesses and rewards achieved are much greater with security protocols being somewhat lax at the other end. Not only this, cyber criminals use multiple channels and mislead security by a series of attacks that takes off the attention of security personnel from the main crime site. Moreover, rising information security concerns by individuals and businesses are expected to increase in the digital forensics market. The information provided by people on various social media platforms has increased, which has led to a rise in concerns regarding the safety of critical and sensitive personal information.

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Digital transformation is also a major driver of the market, which will eventually reform some of the business activities that will transform business processes and provide new revenue models using digital technologies, which includes information security, forensics technologies, data governance, cyber security, big data, cloud technologies, social media and mobility and IoT technologies. Manufacturing and retail industries are an early adopter of digitalisation. Digital forensics tools have been the most commonly embraced platform for tracing hacks, recovering data from damaged or erased hard drives, gathering and maintaining digital evidence and in investigation analysis. Increasing technological transformation across various industries will positively impact the growth of the digital forensics market.

The current scenario of digitisation has led to an increase in the trend of cloud based network forensics

As the cloud is a convenient and cost-effective way to store critical business data, its adoption is increasing among SMEs and large enterprises worldwide. Consequently, the demand for cloud security solutions such as cloud network forensics is also growing. As on-premise security solutions are expensive, their adoption is limited among SMEs due to budget constraints, limited resource availability, and the lack of expertise to address security problems. Cloud-based network forensic solutions scan the data traffic before it reaches the network, providing better protection and reduced bandwidth congestion. Cloud-based network forensics solutions do not require any hardware or software and can be controlled remotely, making them cost-effective for end users. These solutions also respond faster to new security threats and unauthorised access.

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