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Market Research Report

Global Digital Forensics Market Outlook 2017-2030 (Latest Edition): By Component, By Type, By Tool, By Vertical, By Geography with COVID-19 impact

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Global Digital Forensics Market Outlook

Today, the major challenge for a business dispute, regulatory investigation or ligation is the huge amount of data that is needed to be reviewed in order to find relevant information for the discovery. Cases that require the discovery and inspection of the electronically stored data are now common, and the amount of data stored by the organizations is also growing exponentially. This increasing amount of data require faster and better ways to search and cull data collections. This data may be in multiple languages, which can double, triple or even further expand the amount of data to manage.

Need for Digital Forensics with Advancement of Technology

With the advancement of technology, also comes a deep understanding of programing languages, operating systems both average and advanced, and knowledge and utilization of digital devices. These factors also translate into the more user-friendly interfaces, which can accomplish many of the same tasks with the CLI, used mainly by advanced users. Especially with today’s simple GUI, with a lot of resources found on search engines can make certain tasks easier than before such as hiding data. As hiding lot of data is also simpler today, with the speed of processors and large amounts of RAM. Graphics cards should also be taken into consideration as more and more mobile devices are being outfitted with very powerful high-end onboard NVIDIA and ATI cards, they also have their own separate RAM, aiding the process. With all these things, several paths for carrying out cyber-crimes are now available, which includes, malware and ransom ware distribution, DoS and DDoS attacks, espionage, blackmail, identity theft, data theft, illegal online activities and transactions and a lot of other malicious activities. Many of these activities are anonymous as they occur over the internet and often take place using masked IP addresses and public networks which also makes the investigations harder for the relevant agencies in pinpointing locations and apprehending suspects. As cyber-crime is such a big business, the response from law enforcement officials and agencies must be equally responsive and in fact impressive in their research, development, intelligence, and training divisions if they are to put up a fight in what may seem like a never-ending battle in the digital world. Therefore, digital forensics should not only applies to storage media but also to network and internet connections, mobile devices, IoT devices, and in reality, any device that can store, access, or transmit data. Though, there are already variety of tools available for forensics of both commercial and open source, depending upon the task.

Bitcoin Forensics

Progressive digitization of the world brings financial crime and illegitimate goods business completely moved online. Therefore, making increasing use of dark web rapidly year after year and in return crypto currency becomes the most favorable medium. Further, upturn to crypto currencies gives rise to all kinds of cash stuff transform into digital world, facilitates users to create payments online, crosswise over borders and with upgraded user security. These outcomes also make the users to become key catalysts for online crimes. Bitcoin forensics address these issues and gives solutions regarding crypto currencies related to unlawful trade of medication/ drug dealing and weapons, counterfeit identities, stolen credit cards, Ransom ware/malware assaults, pornography and more. In addition to this, more economic crimes like Bitcoin fraud, illegal tax avoidance, and money laundering.

Global Digital Forensics Market Segmentation

By Component:

  • Hardware
    • Forensic Systems
    • Forensic Devices
    • Forensic Write Blockers
    • Others (includes cables, adapters, hard drive enclosures, batteries, and storage devices)
  • Software
  • Services
    • Professional Services
      • Digital Investigation and Consulting
      • Incident Response
      • System Integration
      • Training and Education
      • Support and Maintenance
    • Managed Services

By Type:

  • Computer Forensics
  • Network Forensics
  • Mobile Device Forensics
  • Cloud Forensics

By Tool:

  • Forensic Data Analysis
  • Data Acquisition and Preservation
  • Data Recovery
  • Review and Reporting
  • Forensic Decryption
  • Others (include file viewers, registry analysis tools, and email analysis tools)

By Vertical:

  • Government and Defense
  • BFSI
  • Telecom and IT
  • Retail
  • Healthcare
  • Others (include media and entertainment; manufacturing; and energy and utilities)

By Geography

  • North America (US, Canada) {Market Share (%), Market Size (USD Million)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Million)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Million) }
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Million) }
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Million) }
  • Rest of the World{Market Share (%), Market Size (USD Million) }

Global Digital Forensic: Three Trends to Lookout

Artificial Intelligence (AI) Will Come to the Front

The technological influence of AI is a great news for forensic companies, as this technology will give enormous help in the investigation process. Parsing out key details no longer has to be done by hand, as this proverbial paper trail has gone electronic. But this also means, companies have to sift through thousands upon thousands of email to find the small handful of messages that matter.

Demand for Digital Technologies Will Grow

Real time insights into areas of heightened risk and in internal controls, are the most important benefits of advanced technologies in financial reporting. To that end, the continuing advancement of audit data analytics will play a major role, as opposed to working with a sampling of transactions, data analytics can examine 100% of transaction at unimaginable speed and pace. 

Preparation Will Matter

While many businesses clearly understand the need to be prepared for a breach related to cyber security, an internal threat or fraud demands an equal level of preparation. It is very essential that organizations approach the challenges they face in a disciplined way by understanding the choices of protection they have and then deploying the right solutions in an orderly manner.

Global Digital Forensic Market Analysis

In 2018, the annual cost caused by global cybercrime, by banking sector was around USD 18.4 billion, followed by utilities, software, automotive and insurance with USD 17.9 billion, USD 16 billion, USD 15.8 billion and USD 15.75 billion respectively. The most common types of investigation conducted after a cyber-intrusion incident in the United States in 2018, were log review, imaging, malware analysis and endpoint scanners. During the measured period, the most frequently used tool was log review with a 50 % rate, whereas, malware analysis was used in 15 percent of investigations. In 2019, Case management software was the most deployed software to fight fraud in companies worldwide with a 40% rate. Whereas, online evidence capturing software account for 30% and digital forensics or e-discovery software account for 26%. By geography, North America held the largest share, more than 50%, of the global digital forensics market in 2018 and is expected to remain dominant over the forecast time period as well.

According to the Goldstein Market Intelligence Analyst, the Global Digital Forensics market was valued USD 4,530 million in 2018 and is expected to generate USD 14,250 million by 2027, growing at a Compound Annual Growth (CAGR) of 14% during the forecasted period i.e. 2017-2030.

30+ #COVID19 Spam Emails Analyzed Every Minute

A COVID-19 domain is blacklisted every 15 minute, while 35 COVID-19 spam emails are analyzed per minute, determined the top threats in 2020. Cybercrime costs organizations around USD 25 every minute, while the average cost of a malicious attack is around USD 5 a minute. Therefore, cybercrime will have a per-minute global cost of USD 11.5 million by 2021, which is a 100% increase since 2015. Further, statistics showed there are 376 new threats every minute, a new vulnerability disclosed every 24 minutes and 16,180 records compromised per minute. There is also new Mage cart attack, the credit card skimming attack, every 16 minutes.

Major Players of Global Digital Forensic Market

  • Access Data (US)
  • Cellebrite (Israel)
  • MSAB (Sweden)
  • Open Text (Canada)
  • Oxygen Forensics (US)
  • ADF Solutions (US)
  • Coal fire (US)
  • Digital Detective (US)
  • Log Rhythm (US)
  • Magnet Forensics (Canada)
  • Paraben (US)
  • Nuix (Australia)

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Key questions answered in this Global Digital Forensics Market Outlook Report

  • What is the total market size by 2030 and what would be the expected growth rate of market?
  • What is the total revenue per segment and region in 2016-17 and what would be the expected revenue per segment and region over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

Reasons to buy this market study

  • Facilitate decision-making based on strong historic and forecast data for Global Digital Forensics Market
  • Develop strategies based on the latest regulatory framework
  • Position yourself to gain the maximum advantage of the Global Digital Forensics Market’s growth potential
  • Identify key partners and business development avenues across the globe
  • Respond to your competitors’ business structure, strategy and prospects
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies

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Global Digital Forensics Market Outlook 2017-2030 (Latest Edition): By Component, By Type, By Tool, By Vertical, By Geography with COVID-19 impact

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