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Global Digital Forensics Market: By Component: Hardware, Software, Service; By Type: Mobile Forensic, Computer Forensic, Network Forensic, Others; By End-User; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Digital Forensics Market Outlook

The global digital forensics market stood at a value of USD 8.35 billion in 2021. The market is further expected to grow at a CAGR of 15.95% in the forecast period of 2022-2027 to attain a value of USD 20.29 billion by 2027.

 

Global Digital Forensics Market

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The Network Forensic Segment to Account for a Substantial Share of the Global Digital Forensics Industry

Based on type, the network forensic segment is expected to hold a considerable share in the global digital forensics industry during the forecast period. This growth can be attributed to the rapid expansion of wireless connectivity with the rapid spread of the internet. Moreover, with the advent of IoT technology and the emergence of location of things (LoT), digital devices are increasingly becoming interconnected through Wi-Fi and Bluetooth technology in networks. As a result, a significant rise can be observed in the number of network breaches and hacking attempts over time, which leads to large financial losses. These factors are estimated to positively impact the market growth.

 

North America to Occupy a Significant Market Share of the Global Digital Forensics Industry

The North American region is predicted to account for a considerable share of the global digital forensics industry. This surge can be attributed to the increased implementation of digital forensics technology in the region because of the rampant cybercrimes. According to the statistics record by the Insurance Information Institute, more than 47% of Americans experienced financial identity theft in 2020. On the other hand, the Federal Trade Commission recorded 4.8 million identity theft and fraud reports in 2020, which went up by 45% from 2019. A potential cause of the increase is the unemployment identity theft, as amidst the pandemic, increased and extended unemployment benefits were offered by the state, which made it an attractive target for scammers.

 

Digital Forensics: Market Segmentation

Digital forensics refers to the application of computer-based solutions along with investigative procedures for the legal analysis of digital evidence. The use of digital forensics is required in legal investigation procedures such as in cybercrimes of financial frauds, among others. Digital forensics is the process of analysis, identification, preservation, and documentation of digital evidence. In addition, the field of digital forensics has expanded over time to include network forensics and helps in the investigation of network breaches and any hacking attempts. Moreover, with the spread of internet of things (IoT) technology, more devices such as smartphones, smartwatches and cars are being connected to the internet, which has led to the expansion of the digital forensics industry.

 

Global Digital Forensics Market Segment

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By component, the market is divided into:

  • Hardware
  • Software
  • Service

On the basis of type, the industry can be categorised into:

  • Mobile Forensic
  • Computer Forensic
  • Network Forensic 
  • Others

Based on end-user, the market is segmented into:

  • Government and Law Enforcement Agencies
  • BFSI 
  • IT and Telecom 
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Digital Forensics Market Region

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Growing Digitalisation and Increased Cybercrimes to Augment the Growth of the Global Digital Forensics Industry

With the advent of the internet, and the hyperconnectivity facilitated by the spread of the digital technology in the form of smartphones and computers, the market for digital forensics has been growing. In addition, governments are increasingly strategising initiatives for implementing digital solutions in almost all industrial verticals due to the benefits associated with digital technology, such as increased connectivity, enhanced productivity, and reduced operational costs and time required to carry out various processes. However, with the far-reaching scope of the internet and digital technology, an increase in cybercrimes is being observed in all parts of the world. Cybercrimes such as identity theft, financial theft, scams, hacking, and data breaches are on the rise. For instance, according to a report issued by Interpol, the international criminal police organisation, a large number of fake online pharmacies selling counterfeit, illicit medicines, and fake and unauthorised COVID testing kits were shut down under Operation Pangea XIV, globally amidst the COVID-19 pandemic. Furthermore, with the reducing costs of digital devices and the advent of cryptocurrencies, the demand for digital forensics solutions is expected to significantly increase in the forecast period.

 

Key Industry Players in the Global Digital Forensics Market

The report gives a detailed analysis of the following key players in the global digital forensics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • IBM Corporation
  • Binary Intelligence LLC
  • Guidance Software Inc.
  • AccessData Group LLC
  • KL Discovery Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Type, End-User, Region
Breakup by Component Hardware, Software, Service
Breakup by Type Mobile Forensic, Computer Forensic, Network Forensic, Others
Breakup by End-User  Government and Law Enforcement Agencies, BFSI, IT and Telecom, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered IBM Corporation, Binary Intelligence LLC., Guidance Software Inc., AccessData Group LLC, KL Discovery Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Digital Forensics Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Digital Forensics Historical Market (2017-2021) 
    8.3    Global Digital Forensics Market Forecast (2022-2027)
    8.4    Global Digital Forensics Market by Component
        8.4.1    Hardware
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Software
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Service
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
    8.5    Global Digital Forensics Market by Type
        8.5.1    Mobile Forensic
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Computer Forensic
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Network Forensic
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Others
    8.6    Global Digital Forensics Market by End-User 
        8.6.1    Government and Law Enforcement Agencies
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    BFSI
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    IT and Telecom
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Others
    8.7    Global Digital Forensics Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    IBM Corporation
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Binary Intelligence LLC.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Guidance Software Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    AccessData Group LLC
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    KL Discovery Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Digital Forensics Market: Key Industry Highlights, 2017 and 2027
2.    Global Digital Forensics Historical Market: Breakup by Component (USD Billion), 2017-2021
3.    Global Digital Forensics Market Forecast: Breakup by Component (USD Billion), 2017-2021
4.    Global Digital Forensics Historical Market: Breakup by Type (USD Billion), 2017-2021
5.    Global Digital Forensics Market Forecast: Breakup by Type (USD Billion), 2022-2027
6.    Global Digital Forensics Historical Market: Breakup by End User (USD Billion), 2017-2021
7.    Global Digital Forensics Market Forecast: Breakup by End User (USD Billion), 2022-2027
8.    Global Digital Forensics Historical Market: Breakup by Region (USD Billion), 2017-2021
9.    Global Digital Forensics Market Forecast: Breakup by Region (USD Billion), 2022-2027
10.    North America Digital Forensics Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    North America Digital Forensics Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Europe Digital Forensics Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Europe Digital Forensics Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Asia Pacific Digital Forensics Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Asia Pacific Digital Forensics Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Latin America Digital Forensics Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Latin America Digital Forensics Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Middle East and Africa Digital Forensics Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Middle East and Africa Digital Forensics Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Global Digital Forensics Market Structure

Key Questions Answered in the Report

In 2021, the global digital forensics market attained a value of nearly USD 8.35 billion.

The market is projected to grow at a CAGR of 15.95% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 20.29 billion by 2027.

The major drivers of the industry such as the increased demand for data security in various industry verticals such as the BFSI sector, the growing concerns of identity theft and fraud, rapid digitalisation, the rapid spread of internet and the resultant hyperconnectivity, and heightened investments in the R&D of digital forensics are expected to aid the market growth.

The key market trends guiding the industry's growth include the rampant increase in cybercrimes globally.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant market divisions, based on component, include hardware, software, and service.

The significant types include into mobile forensic, computer forensic, network forensic, and others.

The significant segments, based on end user, include government and law enforcement agencies, BFSI, IT and telecom, and others.

The major players in the industry are IBM Corporation, Binary Intelligence LLC, Guidance Software Inc, AccessData Group LLC, KL Discovery Inc., and others.

Analyst Review

The global digital forensics market attained a value of USD 8.35 billion in 2021, driven by the increased prevalence of cybercrimes worldwide. Aided by heightened technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 15.95%. The market is projected to reach USD 20.29 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By component, the market can be distributed into hardware, software and service. On the basis of type, the industry can be segmented into mobile forensic, computer forensic, network forensic, and others. Based on end-user, the industry can be segregated into government and law enforcement agencies, BFSI, IT and Telecom, and others. The major regional markets for the digital forensics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include IBM Corporation, Binary Intelligence LLC, Guidance Software Inc, AccessData Group LLC, KL Discovery Inc., and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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