The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Digital Forensic Market Trends. The growth sectors of the Digital Forensic Market Trends are identified with precision for a better growth perspective.
The Global global Digital digital Forensics forensics Market market is estimated to reach USD 5 billion at a CAGR of over 11% by the end ofduring the forecast period (2017-2023), asserts Market Research Future (MRFR) in its extensive report. Digital forensics is a branch of forensic science incorporating the recovery and investigation of material found in digital devices, often related to computer crime and executed admissible for its use in a court of law.
Digital forensic investigation comprises three stages, that arenamely - acquisition of exhibits, reporting, and investigation. Innovation in digital forensic research and surge in cybercrimes catapults the trend for digital forensics market in the near future. Moreover, growing usage of internet and tremendously increasing popularity of connected devices across various industry verticals such as manufacturing, retail and IT & telecommunications, banking, financial services, and insurance (BFSI), and healthcare, is are stimulating the growth of the global market.
Also, the surge in sophisticated digital crimes and terrorist attacks, economic growth in developing countries as well as a rise in security concerns across different industries are the major factors contributing to the rise in the global digital forensics market. Nevertheless, rising intricacy of mobile devices and heavy utilization of cloud-based applications may undermine the market growth in coming years. Innovation in digital forensic tools can also play a major role in fuelling the growth rate of the market.
Digital Forensics Market Segmentation
The global digital forensics market is segmented by type, component, end users, and deployment. The By deployment, the market is further segmenteddivided by into cloud and on-premise deployment models. Cloud forensics is an application used in cloud computing environments. Legally, cloud-based digital forensic science often implies multi-jurisdictional and multitenant situations. The on-premise based deployment segment is projected to hold the largest market share of the market. This can be credited to rising The attributing factor can be the ssecurity issues arising in order to protect the data which is extractedto prevent data leakage.
The end user sectors that makeing use of digital forensics are primarily healthcare, education, banking, as well asnd defense and & Aerospaceaerospace. When it comes to the healthcare sector, digital forensics procedures are increasingly being used due to the safety and convenience brought to theto safeguard patients’ lives and the medical professionals respectively. Remote monitoring of patients and real-time detection of emergency situations that threaten the patient’s life are some of the factors that render digital forensics extremely crucial in the healthcare domain. The defense and aerospace sector employs digital forensics for cell-site analysis, facial recognition, audio analysis, chip-off and many others.
Types of digital forensics include mobile device, cloud, network, and computer forensics. Components studied in the market report include hardware, software, and services.
The global digital forensics market spans across North America, Asia Pacific, Europe, and Rest of the World. North America is touted to be thehave the largest share of the market, whereas Europe is proposed to grow at the fastest rate during the forecast period. The North American market growth can be accredited to increasing adoption of cloud-based technologies as well as technological advancements. High terrorism activities coupled with a rise in cybercrimes are key drivers that boost the growth of the digital forensics market in Asia-Pacific region.
The prominent key vendors in the digital forensics market are SecureWorks Inc. (U.S.), Guardian Digital Forensics (U.S.), CYFOR (U.K.), AccessData (U.S.), Perkinelmer, Inc., (U.S.), Guidance Software, Inc. (U.S.), FireEye, Inc. (U.S.), MSAB (Sweden), Stroz Friedberg LLC (U.S.), FRONTEO Inc. (Japan) and many others. Mergers and acquisitions are a common strategy used by these players to increase their market share.
Digital Forensics Market is Expected to grow at CAGR of 11% by Forecast 2023, Digital Forensics…
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