Digital Forensics Market Size To Grow At A CAGR Of 15.9% In The Forecast Period Of 2024-2032

According to a new report by Expert Market Research titled, "Global Digital Forensics Market Share, Size, Report and Forecast 2024-2032″, the global digital forensics market size reached a value of USD 11.23 billion in 2023. Aided by escalating need for data security, an increase in cybercrime, and the growing complexity of digital devices, the market is projected to further grow at a CAGR of 15.9% between 2024 and 2032 to reach a value of USD 42.52 billion by 2032.

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Digital forensics is a branch of forensic science encompassing the recovery and investigation of material found in digital devices, primarily to detect and prevent crime. The process includes techniques and tools that gather and preserve evidence from digital devices, such as computers, smartphones, and networks, which can be used in courts of law.

The primary driver of the digital forensics market growth is the rising volume of cybercrimes and digital fraud. Businesses, governments, and individuals are increasingly vulnerable to cyber threats, driving demand for digital forensic technologies to identify, respond to, and prevent these incidents.

The proliferation of digital devices, including smartphones, laptops, and IoT devices, has broadened the scope for digital forensics. Each device can potentially serve as evidence in an investigation, increasing the need for sophisticated forensic tools and techniques.

Additionally, regulatory compliance requirements across different industries mandate robust security measures and incident response strategies that include digital forensics. These regulations reinforce the market as organisations strive to avoid financial penalties and reputational damage, consequently driving up the digital forensics market share.

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North America dominates the market due to the high incidence of cybercrimes and the presence of a mature tech sector. The region's robust legal framework and substantial investments in cybersecurity initiatives further strengthen its market position.

The Asia-Pacific region is expected to experience the fastest growth, driven by increasing digitalisation, rising cybercrime rates, and strengthening regulations regarding data protection in countries like China, India, and Japan. Moreover, Europe also holds a significant share of the market, supported by stringent data protection laws and government initiatives to combat cyber threats across the European Union, leading to digital forensics market development.

The network forensic segment is projected to have a significant market share in the upcoming forecast period. This growth is primarily due to the rapid expansion of wireless connectivity alongside the widespread adoption of the internet. Additionally, the rise of IoT technology and the emergence of location of things (LoT) have led to an increasing interconnection of digital devices through Wi-Fi and Bluetooth technology within networks. Consequently, there has been a noticeable increase in network breaches and hacking attempts over time, resulting in substantial financial losses. These factors are expected to have a positive influence on digital forensics market expansion.

Market Segmentation

The market can be divided based on the component, type, end-user, and region

Market Breakup by Component

• Hardware
• Software
• Service

Market Breakup by Type

• Mobile Forensic
• Computer Forensic
• Network Forensic
• Others

Market Breakup by End-User

• Government and Law Enforcement Agencies
• BFSI
• IT and Telecom
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global digital forensics market. Some of the major players explored in the report by Expert Market Research are as follows:

• IBM Corporation
• Binary Intelligence LLC.
• Guidance Software Inc.
• AccessData Group LLC
• KL Discovery Inc.
• Others

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