Cybersecurity threat landscape is evolving and attackers are using next-generation tools to exploit victim’s devices. Cyber-attackers are inducing threats in computer devices, mobile devices, Internet of Things (IoT) devices, critical infrastructure systems, and other connected devices. Artificial intelligence and machine learning have made IoT devices smart and responsive to customers. However, a cyber-attack, irrespective of it being a malware, ransomware, advanced persistent threats, or other active and passive attacks targeted on network, endpoint, application, and cloud environment can seriously disrupt the functioning of an enterprise. For recovering from cyber-attacks, there is a dire need for digital forensic products and services. Digital forensic products include both hardware and software solutions, which aid in data extraction, data analysis, and data preservation. MarketsandMarkets expects the digital forensics market size to grow from USD 4.62 billion in 2017 to USD 9.68 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.9% during the forecast period.
The services segment is expected to grow at the fastest rate among components. Digital forensic services aid in breach analysis, data discovery and recovery, intellectual property theft analysis, and employee device analysis and investigation. Professional services offered by digital forensic vendors include digital investigation and consulting, incident response, system integration, training and education, and support and maintenance. Among digital forensic services, the managed services segment is expected to grow at the highest CAGR. Small and Medium-sized Enterprises (SMEs) are inclining toward third-party digital forensic vendors and outsourcing services to support their business requirements and focus on their core business functions. This is expected to increase the demand for managed services.
The cloud forensics segment in the digital forensic market by type is expected to grow at the highest CAGR during the forecast period. Organizations are rapidly adopting cloud services, due to enhanced scalability and attractive pricing schemes. The data available on the cloud environment can be accessed by any device, which has authorized credentials and rights to access them. Data breach on the cloud environment may be difficult to trace. Moreover, the unavailability of log files can make the digital forensic task even more difficult. With the rising number of companies ready to adopt cloud-based storage and applications for their business processes, the market for digital forensics is expected to grow.
The review and reporting segment in the digital forensic market by tool is expected to grow at the highest CAGR during the forecast period. Forensic reports help the investigation team to expedite the investigation process, and also reduce case backlogs. The other significant tools, such as forensic data analysis, data acquisition and preservation, data recovery, review and reporting, and forensic decryption, help the overall market to grow.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=230663168
The Banking, Financial Services, and Insurance (BFSI) is expected to be the fastest-growing vertical in this market, as companies in this sector are rapidly adopting digital forensic products and services to help customers recover their critical data, in case of data breach, and also help the enterprise in court proceedings. Furthermore, this vertical involves a high usage of mobile applications and other cloud- based applications, which can be exploited by attackers to gain access to financial data. Digital forensic vendors play a crucial role in recovering critical data and analyzing the chunks of data retrieved. Digital forensic solutions also help in guiding BFSI customers in complying with government regulations. Some of the significant regulations that are necessary for BFSI customers, including Payment Card Industry Data Security Standard (PCI DSS), Federal Information Security Management Act (FISMA), and General Data Protection Regulation (GDPR. Thus, with the increasing scare of cyber-attacks, the demand for digital forensics products and services is likely to show an upward trend.
The Asia Pacific (APAC) region is expected to grow at the highest CAGR during the forecast period. APAC comprises a mix of developed and developing nations. Major companies across the globe are turning toward to APAC to deploy their business models, which may be focused on areas, such as smart cities, smart transportation, edge computing, crypto-currencies, Hyperloop, and next- generation payment systems, and others. With these avenues, the region would be under a constant radar of cyber-attackers. The motive behind cyber-attackers can be financial gain, interregional rivalry, cyberterrorism, cyberbullying, online fraud, or online exploitation. With the evolving threat landscape, the demand for cybersecurity and digital forensic solutions is expected to be more in the APAC region. North America is expected to contribute the largest market share to the overall digital forensics market.
The major growth factors expected to further drive the adoption of the digital forensics market include the increasing instances of cyber-attacks on enterprise devices, massive use of IoT devices, and the regulations to increase the adoption of digital forensic solutions.
The major vendors providing digital forensics hardware, software, and services include AccessData (US), OpenText (Canada), MSAB (Sweden), Oxygen Forensics (US), Cellebrite (Israel), Paraben (US), Coalfire (US), ADF Solutions (US), Digital Detective (US), Magnet Forensics (Canada), and LogRhythm (US).
To Know More About Digital Forensics Market :
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States