Digital forensic involves integrating computer science with laws that are needed to investigate crime. It involves complete recovery and then interpretation of data present in digital devices to be presented in law courts and mostly involves cyber crime.
Investigation in digital forensics is carried out in three stages which includes exhibit acquisition, investigation and analysis along with reporting of crime.
Forensic technology has become an important component of financial investigations which includes contentious, non-contentious, and fraud-related litigation.
The global digital forensics market stood at a valuation of US$2.87 bn in 2016 and is estimated to be worth US$6.65 bn by 2025, rising at a CAGR of 9.7% from 2017 and 2025.
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However, rising use of mobile devices and their growing complexities are posing a challenge to the growth of this market. This is because retrieving information from certain devices is a herculean task, which makes it difficult to reach to the real culprit in case of cybercrimes.
Governments have also raised concerns regarding the accessibility of mobile platforms of certain companies further posing a challenge to the market’s growth. Nevertheless, the increasing relevance of digital evidence to expose criminals is expected to extend growth opportunities to the digital forensics market.
In terms of type, the digital forensics market is classified into computer forensics, database forensics, cloud forensics, network forensics, mobile device forensics, and others. In 2016, the market was led by computer forensics followed by mobile device forensics.
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On the basis of geography, the global market for digital forensics is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. In 2016, North America trailed by Europe stood as the key regional segments of the market.
Asia Pacific holds substantial revenue in the global digital forensics market.
The increasing trend of cloud based solutions and internet of things technology in these regions is acting as the major growth driver in these regions. In addition, increasing growth of well-planned sophisticated cybercrimes and malware that has risked the confidentiality of intelligence data in many nations in these regions is also a key factor driving the digital forensics market.
Some of the key companies in the digital forensics market include AccessData Group LLC, FireEye Inc., Paraben Corporation, CISCO, Guidance Software Inc., LogRhythm Inc., Micro Systemation AB, NUIX, Binary Intelligence LLC, and IBM Corporation among others.
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