Digital Forensics Market Size 2022-2027: Global Industry Share, Trends, Growth and Forecast

The latest research study "Digital Forensics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global digital forensics market size reached US$ 5.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.03 Billion by 2027 exhibiting a CAGR of 10.50% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Digital forensics is a process of identifying, analyzing, retrieving, interpreting, and discovering electronic data from digital devices such as laptops, computers, and hard disks. It is widely used to collect information, gain additional evidence, and prevent further crimes, such as financial fraud, theft, and murder. It also efficiently tracks cybercriminals, ensures integrity, reduces sampling risk, and extracts, processes, and interprets factual evidence. As a result, digital forensic solutions are widely adopted across government and enforcement agencies, telecommunications and information technology (IT), and the banking, financial services, and insurance (BFSI) industries.

Digital Forensics Market Trends and Drivers:

The market is primarily driven by the increasing incidences of cybercrimes in the BFSI industry across the globe. In addition, the rising security concerns across numerous industries regarding cybercrime is contributing to the market growth. Digital forensics supports the rapid and detailed investigation of financial fraud to solve cases.

Besides this, the proliferation of high-speed internet and various network-based applications and devices represent another key factor accelerating market growth. Apart from this, various key players are integrating artificial intelligence (AI) with digital forensics to observe commonalities in communication and detect attributes in photos and videos. This, coupled with the increasing product demand to recover deleted files from digital devices, is also augmenting the market growth.

Besides this, the implementation of several government initiatives to encourage advanced security solutions and protect sensitive data is creating a positive market outlook across the globe.
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Report Segmentation:

The report has been segmented the market into following categories:
Breakup by Component:
• Hardware
• Software
• Service

Breakup by Type:
• Mobile Forensic
• Computer Forensic
• Network Forensic
• Others

Breakup by Tool:
• Data Acquisition and Preservation
• Forensic Data Analysis
• Data Recovery
• Review and Reporting
• Forensic Decryption
• Others

Breakup by End User:
• BFSI
• IT and Telecom
• Government and Law Enforcement Agencies
• Retail
• Healthcare
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:

The major players in the market are AccessData Group Inc. (Exterro Inc.), Binary Intelligence LLC, CCL (Solutions) Group Ltd, Digital Detective Group Limited, Global Digital Forensics, KLDiscovery, LogRhythm Inc., Magnet Forensics, MSAB, OpenText Corporation, Oxygen Forensics Inc. and Paraben Corporation.

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This release was published on openPR.