The Global Digital Forensics Market size is expected to reach $26.3 billion by 2031, rising at a market growth of 14.8% CAGR during the forecast period.
Retailers are prime targets for cyberattacks due to the vast amounts of sensitive customer data they handle, including payment information. The rise in data breaches, ransomware attacks, and other cyber threats has driven the need for robust digital forensics capabilities to investigate incidents and mitigate damage. Thus, the retail segment captured$1.22 billion revenue in the market in 2023. The rapid expansion of e-commerce has increased the digital footprint of retailers. As businesses migrate their operations online, the complexity and volume of digital data have grown, necessitating advanced digital forensics solutions to manage and analyze this data effectively.
The rise in cybercrime activities, including data breaches, hacking, and identity theft, has significantly heightened the need for digital forensics to investigate and mitigate these incidents. According to the FBI’s Internet Crime Complaint Center (IC3), cybercrime complaints increased, with reported losses exceeding $10.2 billion in 2022. Victims often face severe financial and reputational damage. Digital forensics helps trace the origins of identity theft, recover stolen data, and provide vital information for legal actions against perpetrators. Hence, the exponential increase in cybercrime incidents underscores the critical importance of digital forensics.
Furthermore, Continuous technological advancements have revolutionized the digital landscape, significantly increasing the complexity and volume of digital evidence. One key factor contributing to this growing complexity is the proliferation of Internet of Things (IoT) devices. In addition to IoT devices, the expansion of cloud computing has also significantly impacted the field of digital forensics. Thus, continuous technological advancements have significantly increased the complexity of digital evidence, driving the need for sophisticated digital forensics tools and solutions.
However, the sheer magnitude of data that forensic investigators must contend with can overwhelm traditional investigative approaches, underscoring the urgent need for efficient tools and methodologies to streamline the process of data analysis and extraction. Managing the exponential growth of data requires substantial human and technological resources, which can strain the capacity of forensic teams and infrastructure. Ensuring that the forensic infrastructure can scale to accommodate growing data volumes is crucial but challenging and resource-intensive to implement effectively. Thus, the rising volume of data may hinder the market's growth.
Retailers are prime targets for cyberattacks due to the vast amounts of sensitive customer data they handle, including payment information. The rise in data breaches, ransomware attacks, and other cyber threats has driven the need for robust digital forensics capabilities to investigate incidents and mitigate damage. Thus, the retail segment captured$1.22 billion revenue in the market in 2023. The rapid expansion of e-commerce has increased the digital footprint of retailers. As businesses migrate their operations online, the complexity and volume of digital data have grown, necessitating advanced digital forensics solutions to manage and analyze this data effectively.
The rise in cybercrime activities, including data breaches, hacking, and identity theft, has significantly heightened the need for digital forensics to investigate and mitigate these incidents. According to the FBI’s Internet Crime Complaint Center (IC3), cybercrime complaints increased, with reported losses exceeding $10.2 billion in 2022. Victims often face severe financial and reputational damage. Digital forensics helps trace the origins of identity theft, recover stolen data, and provide vital information for legal actions against perpetrators. Hence, the exponential increase in cybercrime incidents underscores the critical importance of digital forensics.
Furthermore, Continuous technological advancements have revolutionized the digital landscape, significantly increasing the complexity and volume of digital evidence. One key factor contributing to this growing complexity is the proliferation of Internet of Things (IoT) devices. In addition to IoT devices, the expansion of cloud computing has also significantly impacted the field of digital forensics. Thus, continuous technological advancements have significantly increased the complexity of digital evidence, driving the need for sophisticated digital forensics tools and solutions.
However, the sheer magnitude of data that forensic investigators must contend with can overwhelm traditional investigative approaches, underscoring the urgent need for efficient tools and methodologies to streamline the process of data analysis and extraction. Managing the exponential growth of data requires substantial human and technological resources, which can strain the capacity of forensic teams and infrastructure. Ensuring that the forensic infrastructure can scale to accommodate growing data volumes is crucial but challenging and resource-intensive to implement effectively. Thus, the rising volume of data may hinder the market's growth.
Driving and Restraining Factors
Drivers- Increasing Cybercrime Incidents Across The World
- Continuous Technological Advancements In The Digital Field
- Government Support For Enhancing Cybersecurity Infrastructure
- Rising Complexity Of Cyber Threats
- Exponential Expansion Of Digital Data
- Growth Of E-Discovery In Legal Processes
- Expansion Of The Internet Of Things (IoT)
- Significant Challenges Posed By Resource Constraints
- Legal And Regulatory Challenges
Type Outlook
On the basis of type, the market is classified into computer forensics, network forensics, mobile device forensics, and cloud forensics. The mobile device forensics segment acquired 21% revenue share in the market in 2023. There has been an increase in the quantity of digital evidence that is accessible on various platforms as a consequence of the proliferation of mobile devices, which include smartphones, tablets, and wearables. Mobile device forensics addresses the unique challenges associated with extracting, analyzing, and interpreting data from mobile devices, including deleted data, encrypted data, and app-specific artifacts.Industry Outlook
By industry, the market is divided into government, telecom & IT, BFSI, retail, healthcare, and others. The government segment recorded 28% revenue share in the market in 2023. Government agencies and defense organizations face heightened cybersecurity threats, including espionage, cyber warfare, terrorism, and state-sponsored attacks. Digital forensics is crucial in investigating and mitigating these threats, preserving national security interests.Deployment Mode Outlook
Based on deployment mode, the market is bifurcated into cloud and on-premise. The cloud segment procured 66% revenue share in the market in 2023. Cloud-based digital forensics solutions offer unparalleled scalability, allowing organizations to easily expand their storage and processing capabilities as needed without the need for significant upfront investments in infrastructure. By utilizing cloud services, organizations can reduce costs related to hardware, maintenance, and energy consumption.
Component Outlook
Based on component, the market is characterized into hardware, software, and services. The services segment procured 15% revenue share in the market in 2023. Digital forensics investigations often require specialized knowledge and skills to analyze complex digital evidence. Therefore, there's a growing demand for expert services offered by forensic consultants and professionals.Hardware Outlook
The hardware segment is further segmented into forensic systems, forensic devices, and others. The forensic systems segment acquired 48% revenue share in the digital forensics market in 2023. Forensic systems typically offer comprehensive solutions, including hardware, software, and specialized digital evidence collection, preservation, analysis, and reporting tools. This integrated approach makes them highly desirable for organizations conducting digital investigations, contributing to their larger revenue share.Services Outlook
The services segment is further bifurcated into professional services and managed services. The professional services segment witnessed 57% revenue share in the market in 2023. Professional services encompass various offerings, including forensic analysis, data recovery, incident response planning, expert testimony, and training. Organizations seek the expertise of forensic professionals to navigate complex digital investigations and ensure the admissibility of evidence in legal proceedings.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 41% revenue share in the market in 2023. North America is a technological innovation and development hub, particularly the United States. The region boasts a robust ecosystem of digital forensics companies, research institutions, and government agencies, driving the adoption of advanced forensic technologies and methodologies.Recent Strategies Deployed in the Market
- Jun-2024: Oxygen Forensic released update to its Detective v.16.3. With this update, the company introduces enhancements to analysis and analytic tools, KeyScout, Device Extractor, supported applications, expanded cloud support, and other improvements.
- Apr-2024: MSAB revealed its latest release, featuring robust new features and substantial updates aimed at advancing digital investigations for law enforcement and government agencies globally. The newest versions of XRY, XAMN, and XEC from MSAB promise to elevate mobile data extraction capabilities, streamline digital evidence analysis, and improve reporting efficiency significantly.
- Jan-2024: Oxygen Forensics extended its distribution agreement with mh Service, a leading provider of services and products related to IT, mobile phone, and audio-visual forensics, for the India region. This strategic partnership represents a significant milestone in the digital forensics industry and highlights Oxygen Forensics’ dedication to broadening its footprint in crucial global markets.
- Nov-2023: Exterro completed the acquisition of Divebell, a leading SaaS solution specializing in data discovery. This strategic acquisition integrates Divebell's advanced data discovery capabilities with Exterro’s comprehensive legal GRC platform. By leveraging Divebell's sophisticated tools alongside Exterro’s robust information governance workflows, Exterro strengthens its position as the sole entity capable of addressing the complex legal, regulatory, and compliance data challenges encountered by corporations, government organizations, and global enterprises.
- Oct-2023: Exterro Inc. came into partnership with ADF Solutions, Inc., the innovator behind rapid mobile evidence acquisition tools designed to automate targeted smartphone data collection for litigation, compliance, and investigations, have announced a strategic technology partnership. Through this partnership, Exterro customers will gain access to ADF Solutions' mobile device collection software. This software equips Exterro customers with capabilities such as previewing, screenshotting, screen recording, and efficiently collecting digital data stored on Apple iOS and Android smartphones, all within minutes. Additionally, the partnership aims to enhance the efficiency and effectiveness of digital investigations for Exterro's clientele.
List of Key Companies Profiled
- Coalfire Systems, Inc. (Apax Partners LLP)
- Open Text Corporation
- LogRhythm, Inc.
- Exterro, Inc. (Leeds Equity Partners, LLC)
- Cellebrite DI Ltd.
- Micro Systemation AB (MSAB)
- Oxygen Forensics, Inc.
- Nuix Limited
- ADF Solutions, Inc.
- Magnet Forensics Inc.
Market Report Segmentation
By Component- Hardware
- Forensic Systems
- Forensic Devices
- Others
- Software
- Services
- Professional Services
- Managed Services
- Cloud
- On-Premise
- Computer Forensics
- Network Forensics
- Mobile Device Forensics
- Cloud Forensics
- Government
- BFSI
- Telecom & IT
- Retail
- Healthcare
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Global Digital Forensics Market by Component
Chapter 6. Global Digital Forensics Market by Deployment Mode
Chapter 7. Global Digital Forensics Market by Type
Chapter 8. Global Digital Forensics Market by Industry
Chapter 9. Global Digital Forensics Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Coalfire Systems, Inc. (Apax Partners LLP)
- Open Text Corporation
- LogRhythm, Inc.
- Exterro, Inc. (Leeds Equity Partners, LLC)
- Cellebrite DI Ltd.
- Micro Systemation AB (MSAB)
- Oxygen Forensics, Inc.
- Nuix Limited
- ADF Solutions, Inc.
- Magnet Forensics Inc.
Methodology
LOADING...
