Digital Forensics Market CAGR to Grow at 11.9%
Digital forensics is a branch of forensic science encompassing the recovery and investigation of material found in digital devices, often in relation to computer crime. It is used in different types of investigations like crime and civil investigation, corporate litigation, cybercrime etc.
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A new research report by Future Market Insights presents an analysis of the global digital forensics market. The report titled ‘Digital Forensics Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027)’ highlights the market value during the forecast period, the pricing analysis and Y-o-Y growth analysis and also the various factors impacting market growth. The gives the report a holistic approach and seeks to guide key stakeholders in their business related decisions. According to the analysis presented in the report, the global digital forensics market is expected to hold a market value of over US$ 1,900 Mn in 2017, growing at an exceptional CAGR of 11.9% during 2017-2027 to reach a valuation in excess of US$ 5,900 Mn by the end of the forecast period in 2027. In this report, the global digital forensics market is segmented on the basis of type, component, application, end user and region.
Global Digital Forensics Market: Dynamics
The digital forensics market is witnessing a strong growth globally with the rise in digitalisation all over the world. The digitalisation has boosted the cyber market and also the threats coming along with it. In the recent past it has been observed that hackers have been increasingly attacking network layers rather than application layers. Distributed denial of service (DDoS) attack has become a common technique to steal the confidential information of organisations. This technique allows hackers to send harmful data into a user's web server and network resources to increase traffic. Increasing instances of cyber-attacks will continue to support the growth of the digital forensics market across the globe. However, the market may experience some growth restrictions as people are still unaware of forensics technologies, especially in some Eastern European countries as compared to other regions.
Global Digital Forensics Market: Segmental Highlights
Here are some key highlights from the segmental analysis of the digital forensics market:
On the basis of type, the market is dominated by the mobile device forensics segment, which is anticipated to be valued in excess of US$ 2,300 Mn by the end of 2027. This segment also exhibits the maximum growth rate of 16.4% during the forecast period.
Digital investigation and consulting services is the dominant segment by component with a growth rate of 10.4% during the forecast period.
In terms of application, the corporate litigations segment is expected to record the highest revenue of over US$ 1,700 Mn by 2027. However, the cyber-crime segment shows the highest growth rate of 14.0% during the forecast period.
Among the end user segments, the corporate segment dominates the market with a valuation of over US$ 3,700 Mn by the end of 2027, growing at a CAGR of 13.5% during the projected period.
Among the regional markets, North America is projected to be the most attractive market with a revenue estimation of over US$ 830 Mn in 2017, growing at a CAGR of 9.6% during the forecast period. However APEJ is expected to depict the highest growth rate of 15.9% during the forecast period.
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Global Digital Forensics Market: Competitive Landscape
Some of the key players in the digital forensics market mentioned in the research report are OpenText Corporation, AccessData Group LLC, LogRhythm, Inc, FireEye Inc., Micro Systemation AB, IBM Corporation, Cellebrite Ltd, KPMG, PWC etc.
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