Digital Forensic Market Worth USD 4.8 Billion by 2020
“Americas is the leading market for digital forensics market due to the technological advancements and law enforcements. This is followed by Europe resulting the growth in implementing technology.”
Increase in number of digital devices, rapid growth in technology, increase in cyber-crime using digital devices, increasing need for data recovery and growth in usage of cloud computing applications demanding safety measures for data theft and government regulations is driving the digital forensics market growth.
According to the market research report “Digital Forensics Market Analysis: By Forensic Tools; By Application (Network Forensics, Mobile Forensics, Database Forensics, Computer Forensics) – Forecast (2015 – 2020)” published by IndustryArc, the Market is to reach 4.8 Billion in Revenues by 2020
Browse 30 Market Tables & 39 Figures spread through 165 Pages and an in-depth TOC on “Digital Forensics Market”
Digital forensics is a branch of forensic science. It is a process of obtaining, interpreting and uncovering electronic data from electronic storage devices. The purpose of this process is to preserve the probative value of any evidence so that it can be of use in a court of law. The exponential growth in volume of data with wide variety of devices and formats has led to rise in use of digital forensics. Maximum use of digital forensics is done by the federal sector and will grow from $ 1,097.2 Million in 2015 to $2,060.5 Million by 2020. The concerns of corporate sector regarding IP theft, data protection and security can be addressed using digital forensics. Many banking institutions are pro-actively using digital forensics tools to study the digital footprint and online behavior of their employees.
Challenges to cloud forensics can broadly be categorized into technical, legal, and organizational challenges. Such challenges occur when technical, legal, or organizational tasks become impeded or prevent the examination by the digital forensics examiner. There are many stakeholders involved in cloud forensics activities, including members of government, industry, and academia. Presence of different cloud architectures, need for data collection from virtual machines, role of anti-forensics, data ownership role management issues, jurisdiction and privacy concerns and lack of trained personnel are the main challenges faced by this budding segment currently.
Various forensics tools are used in various sectors, namely private, government, federal and corporate. The private companies prefer private investigator so as to maintain confidentiality and government takes care of the cyber-crimes through digital forensics. Similarly, federal agencies use digital forensic science to prosecute criminals, investigate crimes, collect evidences, and train examiners for duties within a nation while corporate sector use digital forensics to monitor and solve the corporate frauds.
Electronic discovery or eDiscovery is the process in which electronic data is sought, searched, located, secured, and searched with the intent of using it as evidence in legal case. eDiscovery tools are used to identify duplicate documents via hashing and some also detect near-duplicates. eDiscovery tools are currently being used in law enforcement and in regulatory agencies of most of the developed countries. The present applications of these tools have shifted from providing a simple review of a client for a non-technical investigator to the entire lifecycle of complex cases with various teams working together on an investigation. The developments in technology have added different ways of working and also have raised the need of high investment. The range of people involved has increased to understand all the dimensions of the case. The implications are discussed with investigators along with the technical staff so as to achieve a working solution.
The American Digital Forensics Market is highest of all followed by Europe and APAC.
Out of all the regions, the digital forensics market in the Americas will hold around 60% share by 2020.
In Europe, the use of digital forensics in corporate sector will grow at a maximum CAGR of 19.2% between 2015 and 2020.
The digital forensics market in APAC will grow at a CAGR of 25.2% between 2015 and 2020.
In order to maintain integrity, different countries in different regions have formed few regulations. Article 313-A in Brazil, Regulations of Investigatory Powers Act (RIPA) in UK, Article 285 in China are few examples of regulations that are based on the access to data and penalty in case of data modification or wrong entry in data records are made.
At a Global Level, Below Companies are the Key Market Leaders in this industry
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