The digital forensics market is projected to witness the growth at a CAGR of 10.19% during the forecast period to reach the total market size of US$5.817 billion by 2023, increasing from US$3.251 billion in 2017. Digital Forensics helps in the extraction and evaluation of evidence from digital devices such as computers, mobiles, laptops, and others. Internet of things, a higher sophistication of digital crimes and increasing regulatory compliances are major factors driving the Digital Forensics Market growth. Other factors include increase in a number of digital devices, technology advancements, increasing the need for data recovery and a surge in the usage of cloud computing applications. The rapid advances in this field have enabled declining cost of solutions over a period of time. The surge in demand for these solutions from banking, law enforcement, defence, and technology sector has further contributed to the growth of the market considerably. However, the growing complex functionalities in the digital field pose a challenge for the market growth.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Digital Forensics value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are LogRhythm, Inc., AccessData, Open Text Corp and Cisco Systems, Inc. among others.
The Digital Forensics market has been analysed through following segments:
Mobile Device Forensics
By Industry Verticals
Aerospace and Defence
Communication and Technology
Middle East and Africa