The global digital forensics market value is expected to rise from US$ 14,073.6 million in 2024 to US$ 37,561.1 million by 2034. This estimated growth is expected to be driven by a promising CAGR of 10.3% in the digital forensics industry over the next decade.
Increasing applications of remote devices, such as remote workstations and IoT gadgets, have drastically raised the potential targets for cyber threats. Digital forensics has thus become critical to investigating and mitigating these emerging risks. The growing demand to monitor and investigate suspicious activities or security breaches on remote devices has raised the demand for digital forensics services and tools.
Surging data breaches and awareness, as well as continuous cyberattacks, have propelled organizations to invest significantly in robust data security solutions. Digital forensics have gained prominence in dissecting these incidents, capturing vulnerabilities, and offering valuable insights to elevate data security. The critical role of digital forensics in the investigation of security incidents supports the growth of the digital forensics industry.
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Key Takeaways from the Digital Forensics Market Report
- In the United States, the digital forensics market is expected to register a CAGR of 7.2% through 2034.
- In Europe, Germany is predicted to be an important market for digital forensics. The digital forensics industry is estimated to expand at a promising CAGR of 9.8% through 2034.
- In Japan, China, and Australia, the market is anticipated to increase at CAGRs of 11.5%, 10.8%, and 13.8% through 2034.
- The network forensics segment is estimated to acquire a market share of 25.2% in 2024.
- The military and defense is projected to procure a value share of 32.8% in 2024.
Competitive Landscape:
Vendors of digital forensics are predicted to expand by employing acquisitions, partnerships, product launches, and mergers. Additionally, players attend industry events and invest in marketing campaigns to raise the brand’s credibility and visibility. Key players are focusing on increasing their competitiveness by highlighting their unique selling points like user-friendly interfaces, advanced technology, or cost-effective solutions.
Market players are concentrating on providing technical support, comprehensive training, and ongoing maintenance to ensure customer retention and satisfaction. Industry leaders are also offering subscription-based models, cloud-based options, or customized packages to serve different requirements and budgets.
Leading Key Players:
- FireEye Inc.
- IBM Corporation
- Micro Systemation AB
- Cellebrite Ltd.
- KPMG
- Ernst & Young
- PwC
- Deloitte
- AccessData Group, Inc.
- LogRhythm
- Binary Intelligence Technology Ltd.
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Recent Developments in the Digital Forensics Market
- In January 2024, MeitY officials highlighted the pressing need for a digital forensic mission in India to combat cybercrimes and computer crimes. A robust ecosystem is required in India to tackle cybersecurity problems and gain people’s trust in digital technologies.
- Binalyze and Softcell entered a strategic partnership in October 2023 to provide incident response solutions and digital forensics in India. The collaboration of these two organizations is projected to propel advancements in cybersecurity and digital forensics incident response competencies.
Digital Forensics Market Segmentation:
By Type:
- Computer Forensics
- Mobile Device Forensics
- Network Forensics
- Database Forensics
- Cloud Forensics
By Component:
- Digital Forensics Hardware
- Digital Forensics Software
- Digital Forensics Services
By End User:
- Government and Law Enforcement
- Legal Services Firms
- Military and Defence
- IT and Telecom
- BFSI
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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