Digital Forensics Market Opening New Opportunity for Advance Technology and Innovation in 2021 | Coherentmarketinsights.com

Digital forensics plays a vital role in enterprise applications in order to address numerous problems such as facilitating IT security and incident response to empower the human resource investigations and forensic analysis of digital devices. Digital forensics is a multifaceted process that helps business organizations to streamline and simplify their business tasks by detecting issues and increase litigation, investigations, and regulatory readiness. The digital forensics include number of steps and has impact on various stages of an investigation including Data Collection, Hosting, Review, Data Processing, Production, e-mail analytics, and Social networking & timeline analysis.

The global digital forensics market is expected to witness significant growth during the forecast period (2020–2027) due to the growing consumer goods & retail industries. Frauds could be a challenge for the consumer goods industry, with the potential to impact finances, brand value, and customer trust. Enterprises dealing with consumer goods tend to have various third-party touch points, which include transporters, vendors/suppliers, third party manufacturers or subcontractors, stockiest, packers, and other third party service providers. These third-party touch-points of consumer goods industry are responsible for the increasing risk of collusive frauds that are difficult to identify.

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What is the expected market size of digital forensics in 2027?
The global digital forensics market is expected to reach US$ 9,453.0 million by 2027.

Who are the key players operating in the market?
Key players operating in the global digital forensics market include AccessData Group, Inc., Guidance Software, Inc./OpenText Corp., Oxygen Forensics, Paraben Corporation, Cellmark Forensic Services, Binary Intelligence, LLC, FireEye, Nuix Pty Ltd., IBM Corporation, LogRhythm, Inc., Magnet Forensics Inc., and Cisco Systems, Inc.

What is the primary factor contributing to the growth of the market?
The increasing adoption of digital forensic techniques in the BFSI sector is expected to boost the growth of the market.

Based on vertical, which segment held the largest market share in the market in 2019?
The Government and Defense, the segment held the largest market share among industry verticals, contributing 29.7% in terms of value in 2019.

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