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Digital Forensics Industry Assessment 2023-2028: Law Enforcement Agencies and Cloud Deployments are Pivotal to Growth

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Dublin, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Digital Forensics Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global digital forensics market is experiencing substantial growth, with a projected increase from USD 9.9 billion in 2023 to USD 18.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 12.9%.

This growth is attributed to the rising incidence of cybercrimes, which has thrust digital forensics into a pivotal role in law enforcement. The scope of digital forensics has expanded beyond computer forensics to encompass all digital devices. Furthermore, the adoption of Internet of Things (IoT) and Bring Your Own Device (BYOD) practices has presented challenges, necessitating digital forensics professionals to adapt to diverse devices and legal complexities. The increasing use of remote devices and the demand for robust data security solutions are further driving the growth of the digital forensics market.

Key Insights

1. Leading Vertical:

  • Law Enforcement Dominates: The law enforcement vertical holds the largest market share in the digital forensics landscape. It plays a pivotal role in combating cybercrime, a significant threat to public safety. Law enforcement agencies are responsible for investigating and prosecuting cybercrimes, and digital forensics is an indispensable tool in these efforts. These agencies have the financial resources to invest in digital forensics technology and comprehensive training programs, making them well-equipped to make these necessary investments. Law enforcement's diverse range of digital forensics needs extends across various devices and systems, further solidifying its dominant position in the market.

2. Preferred Deployment Mode:

  • Cloud Deployment Leads: Cloud deployment mode holds the largest market share in the digital forensics market. It is favored due to factors such as affordability, scalability, and accessibility. Cloud deployment eliminates the need for organizations to invest in and maintain their hardware and software infrastructure, making it a cost-effective approach. Scalability allows organizations to adjust digital forensics capabilities according to varying data volumes and operational demands. The accessibility of cloud-based solutions from anywhere with an internet connection empowers digital forensics professionals to investigate cybercrimes remotely and collaborate seamlessly with peers. Robust security measures within secure cloud environments further enhance its dominance.

3. Key Players:

  • Leading Market Players: Major vendors in the global digital forensics market include IBM, Cisco, Cellebrite, OpenText, Nuix, Exterro, MSAB, Magnet Forensics, LogRhythm, KLDiscovery, Paraben, Cyfor, Oxygen Forensics, Griffeye, CCL Solutions Group Ltd, Global Digital Forensics Inc, Kroll Inc, Digital Intelligence, Optiv Security Ltd, Cado Security, Elcomsoft, Binalyze, Varutra, Bluevoyant, Binary Intelligence, and Bounga Informatics. These players are at the forefront of driving innovation in the digital forensics landscape.

Conclusion: The global digital forensics market is on an upward trajectory, driven by the growing threat of cybercrimes and the evolving technology landscape. Law enforcement agencies and cloud deployment are pivotal in this growth. The market's robust outlook positions it as a critical component in safeguarding digital security and combating cyber threats. With a bright future ahead, digital forensics continues to play a crucial role in ensuring the integrity of digital information and devices.

Premium Insights

  • Rising Instances of Cyberattacks to Act as Catalyst for Widespread Adoption of Digital Forensics Solutions and Services
  • Services to Grow at Highest CAGR During Forecast Period
  • Forensic Devices to Grow at Highest CAGR During Forecast Period
  • Review and Reporting Segment to Grow at Highest CAGR During Forecast Period
  • Professional Services Segment to Grow at Higher CAGR During Forecast Period
  • Training and Education Segment to Grow at Highest CAGR During Forecast Period
  • Cloud Forensics Segment to Grow at a Higher CAGR During the Forecast Period
  • Cloud Segment to Grow at Higher CAGR During Forecast Period
  • Law Enforcement Segment to Account for Largest Market During Forecast Period
  • Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

Market Dynamics

  • Drivers
    • Rise in Cybercrimes to Elevate Digital Forensics as Crucial Tool for Law Enforcement
    • Penetration of IoT and BYOD Culture
    • Monitoring of Remote Devices and Demand for Data Security Solutions to Drive Digital Forensics
  • Restraints
    • Lack of Skilled Professionals
    • High Cost of Digital Forensics Tools and Services
  • Opportunities
    • Adoption of Digital Forensics Solutions in Highly Regulated Verticals
    • Increase in Cloud Computing Applications
    • Use of Cryptocurrency
  • Challenges
    • Issues with Encryption and Lack of Digital Forensics Pre-Planning Among Enterprises

Case Study Analysis

  • OpenText Encase Forensic Software Accelerated Child Exploitation Investigations in Southern Alberta
  • Magnet Ignite Enhanced Cybir's Breach Investigations with Cloud-Based Speed
  • Sera-Brynn Used LogRhythm Network Monitor for Rapid, Mobile Threat Detection
  • Barracuda Helped Gateway Mechanical Enhance Email Security Significantly
  • CCL's Custom Python Script Expedited Murder Investigation, Aiding Resolution

Key Attributes

Report AttributeDetails
No. of Pages305
Forecast Period2023-2028
Estimated Market Value (USD) in 2023$9.9 Billion
Forecasted Market Value (USD) by 2028$18.2 Billion
Compound Annual Growth Rate12.9%
Regions CoveredGlobal

Key Topics Covered

1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Digital Forensics Market, by Component
7 Digital Forensics Market, by Type
8 Digital Forensics Market, by Deployment Mode
9 Digital Forensics Market, by Vertical
10 Digital Forensics Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent Markets
14 Appendix

Companies Mentioned

  • Binalyze
  • Binary Intelligence
  • Bluevoyant
  • Bounga Informatics
  • Cado Security
  • CCL Solutions Group Ltd.
  • Cellebrite
  • Cisco
  • Cyfor
  • Digital Intelligence
  • Elcomsoft
  • Exterro
  • Global Digital Forensics Inc.
  • Griffeye
  • IBM
  • KLDiscovery
  • Kroll Inc.
  • LogRhythm
  • Magnet Forensics
  • MSAB
  • Nuix
  • OpenText
  • Optiv Security Ltd.
  • Oxygen Forensics
  • Paraben
  • Varutra

For more information about this report visit https://www.researchandmarkets.com/r/53sawd

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