Global Digital Forensics Market to Exhibit 12.50% CAGR, Fuelled by Growing Demand for Technologies to Tackle Cybercrime

The global market for digital forensics has been covered under the scope of this report. Digital forensics is a process of recovery and interpretation of data found in digital devices for use in a court of law and is mostly related to computer crime. Digital forensic investigation comprises three stages, which includes acquisition of exhibits, investigation, and reporting. Law enforcement agencies and various stakeholders are using digital forensics to keep up with the increasing technological innovations and commercialization.

The major driving factors of the global digital forensics market are increasing threats from crime and terrorist attacks. Moreover, rising security concern across different industries along with rapid economic growth in emerging markets are expected to fuel the growth of global digital forensics market. Due to rapid development in technology, the number of computer, mobiles, and other electronic devices is anticipated to grow exponentially, which in turn is expected to drive the growth of the market for digital forensics during the forecast period from 2015 to 2021. Furthermore, with rapid innovation in digital forensic research in the future, digital forensic tools would find wide range of applications in health care, education, transport, defense and aerospace, and other application areas. With continuous improvements in existing technologies, the efficiency of forensic tools in terms of detecting, recording, and retrieving minute traces is expected to increase. However, increased utilization of cloud based applications and persistent threat of government snooping are some of the major factors hindering the growth of the market for digital forensics. Due to increasing security concerns across different verticals, such as law enforcement, defense, banking, health care, information technology, education, and logistics, among others, the market for digital forensics is witnessing substantial growth currently.

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The global digital forensics market, by types is divided broadly into five major segments into: computer forensics, network forensics, cloud forensics, mobile device forensics, database forensics and others. Computer forensics held the largest share of global digital forensics market in 2014. There has been a surge in dependence on computers and Internet among both government and corporate organizations which have significantly resulted in increase in cyber crimes and cyber frauds. Thus computer forensic tools are widely used in both private investigation and criminal law, in order to analyze, examine, and recover data or evidence that is related to computer crime.

The global digital forensics market by end users industry is bifurcated into seven segments: law enforcement, healthcare, education, banking, financial services and insurance, information technology, transportation and logistics, defense and aerospace. Law enforcement segment contributed to the largest market share in 2014, primarily due to increasing implementation of digital forensics in collecting, analyzing and presenting data as evidences in a court of law. Moreover, terrorism and security threats are prevented on the basis of digital traces and thus digital forensics is becoming a vital tool for defense and law enforcement among others.

The global digital forensics market has been segmented broadly into four regions: North America, Europe, Asia Pacific and RoW (Rest of the World). In terms of revenue, North America acquired the largest share of the market in 2014 accounting for approximately 53% of the market share. Rise in the demand for digital forensics in North America can be attributed to increased acceptance of forensic tools among different industries in this region. Moreover, state police departments and FBI have been using this technology to prevent illegal activities in different parts of the U.S. and Canada among others.

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On the basis of geography, the global digital forensics market is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). Of these, the North America digital forensics market represented the most significant share of around 53% in the market in terms of revenue. The reason for the superiority of this region is owing to the rising expending on forensic tools in different industries of this region. In addition, this technology is being employed by the FBI and the state police departments in order to prevent illegal activities in various parts of Canada and the U.S.

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