Digital Forensics Market is expected to reach US$ 6.95 Billion by 2025

According to the new research report published by The Insight Partners, titled “Digital Forensics Market– Global Analysis and Forecasts to 2025”, the global digital forensics market is expected to reach US$ 6,945.6 Mn in 2025, registering a CAGR of 10.9% during the forecast period 2018-2025.

People these days are extensively inclined towards open networks like internet where business transactions, commercial activities and government services have become very frequent. This has further resulted into robust development and evolution of information security challenges and cyber threats. Furthermore, the diffusion of IoT (Internet of Things) paradigms, particularly in industrial sectors are anticipated to generate a new wave of misconducts including cyber-attacks jeopardizing an individual’s personal security and industrial espionage. The challenges in the digital forensics are further intensified by the leveraging usage of anti-forensics in malware, and cyber threat. However, the law-makers and digital forensics experts are constantly putting efforts to enhance their skills and abilities to dig out artefacts, and digital activities that are often hidden in massive database.

The pace at which digitalization is growing the world is anticipated to thrive for highly skilled professionals that can efficiently address and catapult the demand for digital forensics.  To suffice the demand for awareness and understanding of digital forensics the government across the globe are organizing programs that support education of digital forensics. For instance, the University of Illinois at Urbana has taken an initiative to train its students on digital forensics and is anticipated to contribute to the increasing demand for skilled professionals in this field.  Apart from this, Malaysia also has been promoting the readiness towards digital forensics and incorporates dedicated institute for digital forensics.

The global digital forensics market has been segmented on the basis of type into end-point forensics, network forensics, cloud forensics and mobile devices forensics; by component into software and services; and by end user into BFSI, government, healthcare, retail, manufacturing, communications & media; and geography.

Key findings of the study:

• In 2017, North America and Europe contributed to the largest share of market revenue which accounted for more than 50% of overall market.
• APAC is estimated to gain significant share of revenue in the total market, as a result of growing adoption of IoT and rising concern towards data security in the developing nations in this region. In the forecasted period from 2017 to 2025, APAC is estimated to foresee a CAGR of more than 13.3%.
• The market in Asia Pacific has been witnessing significant growth in the development of smart workplace and thus high data security concern. In addition, the development of smart cities is also expected to fuel the growth of digital forensics market in Asia Pacific.
• The BFSI vertical accounted for more than one third of the global digital forensics market share in the year 2017 and is expected to continue its dominance during the forecast period.
• The key companies profiled in this report include Forensicon, R3 Digital Forensics, FireEye, Inc., Access Data, Cy4or Legal Limited, Binary Intelligence LLC, Kroll, LogRythm Inc., Magnet Forensics, and Global Digital Forensics Inc.