Digital Forensics Market Expands with Key Metrics, Competitive Insights, and a Promising Growth Trajectory

The new report published by The Business Research Company, titled Digital Forensics Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the digital forensics market size has grown rapidly in recent years. It will grow from $11.77 billion in 2023 to $13.49 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The digital forensics market size is expected to see rapid growth in the next few years. It will grow to $23.28 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%.

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The Surge In Cybersecurity Threats Fuels Growth In The Data Forensics Market
The intensifying cyber-security threats are expected to propel the growth of the data forensics market going forward. Cybersecurity threats refer to potential risks and attacks on digital systems, networks, and data by malicious actors seeking to exploit vulnerabilities and compromise information confidentiality, integrity, and availability. Data forensic techniques are used in cyber security to investigate and analyze cyber risks, pinpoint their source, and provide vital proof for incident response and mitigation. For instance, in January 2023, according to a report published by BNP Media Inc., a US-based media company, global cyberattacks increased by 38% in 2022 compared to 2021. Furthermore, in 2021, according to the Federal Bureau of Investigation, a US-based federal agency, there were 847,376 complaints and a $6.9 billion loss in 2021. Therefore, intensifying cyber-security threats are driving the data forensics market.

Cloud-Based Forensic Navigator Redefining Efficiency In The Digital Forensics Market
Technological advancement is a key trend gaining popularity in the digital forensics market. Major companies operating in the digital forensics market are adopting innovative technologies to sustain their position in the market. For instance, in April 2022, LabVantage Solutions Inc., a US-based provider of laboratory informatics solutions and services, launched LabVantage Forensic Navigator, a cloud-based software platform that is innovatively designed to help organizations manage the entire forensic lifecycle, from evidence collection to analysis to reporting. The platform includes various features designed to help organizations streamline their forensic processes and improve the efficiency of their investigations. Additionally, the forensic navigator controls data flows in real-time, from the beginning of the investigation until the evidence collection at the crime scene. It streamlines, connects, and analyzes every component of a criminal case, including the gathering of evidence, the administration of property, and the analysis conducted in forensic labs. Moreover, this software is a valuable tool for organizations investigating digital crimes.

The digital forensics market covered in this report is segmented -

1) By Type: Computer Forensics, Network Forensics, Mobile Device Forensics, Cloud Forensics
2) By Component: Hardware, Software, Services
3) By Tool: Data Acquisition And Preservation, Data Recovery, Forensic Data Analysis, Forensic Decryption, Review And Reporting, Other Tools
4) By Vertical: Government And Defense, Banking, Financial Services, And Insurance, Telecom And Information Technology, Retail, Healthcare, Other Verticals

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Major companies operating in the digital forensics market report are International Business Machines Corporation, Cisco Systems Inc., OpenText Corporation, Kroll Associates Limited, KLDiscovery Inc., Guidance Software Inc., Cellebrite DI Ltd., LogRhythm Inc., Nuix Pty Ltd., Magnet Forensics Inc., Digital Detective Group Limited, AccessData Group Inc., CCL Solutions Group Ltd., Cellmark Forensic Services Inc., MSAB ( Micro Systemation), CYFOR Technologies LLC, Cyber Triage, IntaForensics Ltd., Techfusion Pty Ltd., R3 Digital Forensics LLC, Intersec Worldwide Inc., Global Digital Forensics, Elcomsoft Co. Ltd., Digital Shield Ltd., Binary Intelligence LLC, Autopsy, Alias Forensics Inc., Advanced Digital Forensic Solutions Inc., Paraben Corporation, Oxygen Forensics Inc.

Contents of the report:
1. Executive Summary
2. Digital Forensics Market Report Structure
3. Digital Forensics Market Trends And Strategies
4. Digital Forensics Market - Macro Economic Scenario
5. Digital Forensics Market Size And Growth
…..
27. Digital Forensics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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