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The global digital forensics industry is being driven by the heightened prevalence of cybercrimes globally. The rapid spread of digital technology and the growing connectivity through the internet are posing challenges, creating a need to ensure the security of the data being transferred and stored on digital platforms. Moreover, the demand for digital forensics is being observed in most industry verticals in order to investigate cybercrimes such as financial scams and identity theft, among others. In addition, with the rising prevalence of cryptocurrency, the digital forensics industry is expected to notice a rising demand.
The growing focus of the leading players to develop improved digital forensic services through increased mergers and collaborations is expected to significantly catalyse the industry growth in the forecast period. For instance, in April 2021, IBM Corporation (NYSE: IBM) and Blackberry Limited announced their new partnership under which IBM will resell Blackberry's Blackberry Spark platform that enables endpoint management, endpoint security and critical event management software in various industry verticals. Furthermore, another leading digital forensics service vendor KL Discovery Inc. (OTCMKTS: KLDS), in April 2019, announced the strategic partnership between KL Discovery and HubStor, a leading storage software company, to integrate KL Discovery’s eDiscorvery platform Nebula with HubStor’s cloud data management platform. These developments are expected to positively impact the digital forensics industry in the forecast period.
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The major players in the global digital forensics market are IBM Corporation, Binary Intelligence LLC, Guidance Software Inc, AccessData Group LLC, KL Discovery Inc., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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