The Global Digital Forensics Market is expected to register a growth at a CAGR of 10.97% during the forecast period (2021-2026). The massive use of Internet of Things (IoT) devices coupled with factors such as stringent government regulations and the increasing instances of cyber-attacks on enterprises are expected to drive the demand for digital forensics software during the forecast period.
Key Highlights - Digital forensics has grown from addressing minor computer crimes to the investigation of complex international cases that significantly affect the world. Digital forensics includes the recovery and investigation of material found in digital devices, often concerning computer crimes.
- Most forensics are oriented toward desktops, laptops, and associated media, including the hard drive, floppy disk, and optical discs. However, other forms of digital forensics, such as mobile phones and other handheld devices, are becoming increasingly popular for digital curation and preservation.
- The adoption of digital forensics is growing due to the advancements in the traditional crime lab infrastructure, increasing penetration in corporate sectors, and the rise in cyber attacks and crimes. For instance, according to the Internet Crime Complaint Center (ICC) and Federal Bureau of Investigation (FBI), in 2020, 43,300 cases of online identity theft were reported to the IC3. Phishing and similar fraud ranked first, with 2,41,342 complaints.
- Additionally, as enterprises across the world are transforming digitally, cloud adoption has been on the rise, which brings policies, such as BYOD, to the forefront in many industries. The increase in the use of cloud computing applications providing access to files and other data from anywhere has made the work collaboration for different teams from different locations simpler for companies. Therefore, if more devices are connected to an enterprise, more sources would be available for hackers to intrude into the enterprise networks.
- During COVID-19, the demand for remote working solutions has seen a surge owing to the organization’s transition from their conventional workplace methods to work from home environment. Due to this, during this period, significant organizational stress and crisis, newer frauds and misconduct risks have emerged, internal controls are lagging behind the evolving risks, and the need for forensic investigations has been witnessing an increase.
- Furthermore, the COVID-19 pandemic will require investigation techniques that reflect the new patterns of employee remote working environment and comply with the legal and societal goals, such as social distancing and self-isolation. However, factors such as lack of specialized skills, usage of proprietary operating systems, and high level of encryption in new mobile applications may hinder the growth of the market.
Key Market Trends
Network Forensics is Expected to Hold a Significant Market Share
- Even though wireless communication systems are useful in providing mobile internet access to the user, they are still vulnerable and easily exposed to interception by way of data transmission. Network forensics involves capturing, recording, and analyzing network packets to determine the source of network security attacks. - The security mechanisms, like Wired Equivalent Privacy (WEP) and WiFi Protected Access (WAP), are not sufficiently capable of providing guaranteed security in wireless communication. Hence, network forensics is in increasing demand in several organizations. - Digital Forensics and Incident Response (DFIR) is being incorporated to perform forensics when an organization is infected with ransomware or another type of network intrusion. More recently, there has been a trend in Advanced Persistent Threat (APT) groups attempting to hack into industrial control systems (ICS). - Many companies are implementing SaaS backups that come with an intrusion detection system that safeguards critical data from malicious attacks, whether external or internal. For instance, in 2020, Attivo Networks announced the availability of its ADSecure solution for Google Cloud’s Managed Service for Microsoft Active Directory (AD). The Google Cloud team has reviewed the Attivo solution that operates and reduces the risk of attack escalation for organizations running Active Directory with Google’s managed service.
North America to Account for Largest Market Share
- The United States financial system has been a target for foreign cyber adversaries for a considerable period. Based on this phenomenon, the United States government imposed a law for the private sector to have a dedicated cyber protection team (CPT) sector to provide surge capacity in the event of an ongoing cyberattack in the form of advanced analysis and network and endpoint forensics.
- United States banks, such as the Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, have faced cyberattacks that eventually led to exposed data of consumers. It was considered to be a result of weaknesses in the firms’ networks. Federal officials recommended these banks to monitor their network activities. Such government impositions, therefore, drive the demand for digital forensics solutions in the region.
- For instance, in July 2021, Paraben Corporation (a US-based company) launched the “E3 Forensic Platform” 3.0 version for data investigations and digital evidence. The new edition enabled a unified study of digital data from a variety of sources, including smartphones, computers, the Internet of Things, and the cloud.
- Xpera Risk Mitigation and Investigation, which is Canada’s largest national provider of investigations and risk solutions, recently announced a powerful new digital evidence tool with capabilities not offered anywhere in the Canadian private risk management market.
- Moreover, North America houses the significant players of the digital forensics market like IBM, Cisco, FireEye, which offer other enterprise applications, such as LogRhythm, Guidance Software, Access Data, Paraben, that specialize in forensic solutions.
- The technological advancements in the forensics department and the growth in cybercrimes and advanced theft mechanisms are expected to increase the investments in the digital forensics market.
The digital forensics market is moderately competitive and consists of a significant number of major players. The vendors are involved in releasing new features on their products frequently, as the market is technology-driven. The leading players include IBM Corporation, Binary Intelligence LLC, and Guidance Software Inc., among others.
- October 2021 - FireEye and McAfee Enterprise announced that Symphony Technology Group (STG) had closed its sponsored acquisition of FireEye in an all-cash transaction totaling USD 1.2 billion. This transaction completed the combination of McAfee Enterprise with FireEye. - July 2021 - Oxygen Forensics released flagship software, Oxygen Forensic Detective v.13.7. The update significantly improves the Oxygen Forensic Cloud Extractor and KeyScout, which is an additional Device and Case Description field, and new extraction methods for multiple apps. Such updates benefit various government bodies to which the company caters.
- The market estimate (ME) sheet in Excel format - 3 months of analyst support
Our reports have been used by over 10K customers, including:
In the coming years, a number of wars will be waged via computers, servers, and digital weapons. Commonly, cyber technology will have dual functions: attack/defense, peaceful/aggressive, legal/illegal. A large number of cyber operations use computer administration tools that have multiple uses. In these cases, the difference lies in the intent...
This IDC Perspective identifies five crucial principles for IT executives about the use of cybersecurity insurance to transfer portions of an organization's cybersecurity risk to an insurance carrier. Modern cybersecurity insurance policies require that organizations undergo a rigorous control assessment and surrender some control of the incident...
The global aviation cyber security market exhibited strong growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of around 9% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence...
The global premium messaging market exhibited moderate growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the...
The Global High Performance Message Infrastructure Market size is expected to reach $2,000.1 million by 2027, rising at a market growth of 13.1% CAGR during the forecast period. High-performance message infrastructure refers to the technology which offers a single shared messaging provision for integration of services and applications...
Cyberattacks and data breaches increasingly appear in the news. The recent compromises of SolarWinds, Colonial Pipeline, and JBS did not only draw the attention of cybersecurity professionals but raised concerns among policymakers and the business community. The common thread in these attacks is a high degree of sophistication.Most...
The research service will provide an overview of the US healthcare cybersecurity market from 2021 to 2026. Healthcare cybersecurity includes those systems, applications, and IT-enabled services that assess third-party vendor risks, safeguard data networks, privatize cloud-based access management, and ensure the state-of-the-art security of...
Asia Security Information and Event Management Market by Component (Solution and Services), Deployment Model (On-premise and Cloud), Enterprise Size (Large Enterprises and SMEs), and Industry Vertical (BFSI, Government, IT & Telecommunication, Healthcare & Life Sciences, Retail, Manufacturing, and Others): Opportunity Analysis and...
The global DDoS Protection and Mitigation market size is expected to grow from USD 3.3 billion in 2021 to USD 6.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 15.1% from 2021 to 2026. The major factors fueling the DDoS Protection and Mitigation market include Growing demand for sophisticated security solutions, Evolving regulatory...
The global security analytics market is expected to grow from US$ 12,076.36 million in 2021 to US$ 34,226.73 million by 2028; it is estimated to grow at a CAGR of 16.0% during 2021–2028. Over the past few years, big data analytics has become a significant research interest among practitioners and researchers.Swift growth in data volume...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.