Global Digital Forensics Market To Grow At CAGR 12.5% During 2015 - 2021: Acumen Research and Consulting
Author: Acumen Research and Consulting
Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Digital Forensic Market
(Types: Computer Forensics, Network Forensics, Cloud Forensics, Mobile Device Forensics, Database Forensics, Others; Industry Use: Healthcare, Education, BFSI, Defense and Aerospace, Law Enforcement, Transportation and Logistics, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2015 - 2021”, forecasts that the global market for digital forensics is expected to grow at a CAGR 12.5% from 2015 to 2021 and reach the market value of around USD 4.97 billion by 2021. Innovation in digital forensic tools is a key opportunity associated with digital forensics market. However, rising complication in mobile devices and increased utilization of cloud based applications may pose challenge to the market growth.
Rising Security Concerns Across Different Industries
At present, digital forensics market is witnessing substantial growth on account of increasing security concerns across different verticals such as law enforcement, defense, education, banking, health care, and logistics, and information technology among others. Digital forensics has become a key asset in detecting corporate theft, bank frauds, and capital crimes, among others. These tools are used for preservation, examination, and presentation of digital data as a source of evidence in investigation and forensics. In addition, digital forensics ensures overall integrity, security, and survivability of an organization. Cyber crime is increasing at an alarming rate and digital forensics plays a crucial role in reducing the crime rate by offering effective evidences related to the crime. In recent times, law enforcement agencies and stakeholders have been using digital forensics as an important tool to reduce crime rates and support investigations in courts of law.
Rising Complexity of Mobile Devices Impede Market Growth
The mobile computing technology is advancing as compared to other electronic devices. Increasing complexity of mobile devices is acting as a major restraint for digital forensic experts. Unlike computers, the market for mobile devices includes a huge range of manufacturers and models to choose from. As a result, it becomes hard for a forensic investigator to select appropriate forensics tools for collecting data from mobiles. However, there is a huge need for forensic experts to develop innovative tools that can keep pace with constant technological changes in these devices. With technological advancements, digital forensics is expected to be well-equipped to tackle such problems in a better way in future.
Growing Penetration in Healthcare Industry
Owing to the wide range of applications in healthcare, the digital forensics has spread across various areas such as problems of recovery, age and death, species determination, identification of ancestry, sexuality, postmortem interval, and the evaluation of evidence relating to foul play and identification among others. The healthcare institutions are constantly striving to maintain balance between consumer demand for accessing universal healthcare information and providing security simultaneously. The risk associated with securing information and delivering the required data to customers is very critical for healthcare institutions. Modern technologies such as digital forensics reduce the probability of data manipulation and misuse. Owing to this factor, digital forensics is gaining huge popularity in healthcare industry.
Some of the leading players in the global digital forensics market are LogRhythm, Inc., Paraben Corporation, Guidance Software, Inc., Binary Intelligence, Global Digital Forensics, Digital Detectives, ASR Data, FireEye Inc., Access Data Group, Inc., and Lancope, Inc. among others.
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