Growing Demand for Technologies to Tackle Cybercrime to Drive Digital Forensics Market

Transparency Market Research has published a new report, titled “Digital Forensics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”. This is a comprehensive report that provides insights into the growth drivers and key restraints that are likely to shape the growth trajectory of the digital forensics market in the global scenario. It pegs the overall value of the global digital forensics market at US$2.03B in 2014.

Rapid advances introduced in forensic technology that enable recovery of complex data from electronic devices, fingerprints from metals, and DNA profiling, together with decreasing costs over a period of time, have made forensic applications more affordable. As a result, digital forensics technology has successfully forayed into major markets across the globe. Furthermore, expansion of sectors such as banking, law enforcement, defense, and information technology has also significantly contributed to the growth of the global digital forensics market, states the report. 

Law enforcement agencies are the most active users of digital forensic tools. They seek the help of such advanced equipment to detect crimes and provide proof of investigations in the courts of law. Moreover, due to the advances introduced in the technology recently, digital forensics is also used across the corporate sector, banking, and IT companies to detect possible thefts. Due to the increasing incidence of cybercrime and confidentiality issues around the world, technologies that provide foolproof ways of detecting crimes are in great demand. Hence, it is expected that the demand for digital forensics will remain high over the forthcoming years, as authorities around the world become more conscious about protecting their valuable data. 

For the purpose of the study, the report segments the global digital forensics market into network forensics, computer forensics, cloud forensics, database forensics, mobile device forensics, and others. Of these, computer forensics held the largest market share in 2014, accounting for over 30% of the global digital forensics market. In terms of application, the global market for digital forensics is segmented into healthcare, law enforcement, banking, education, financial services and insurance, transportation and logistics, information technology, and defense and aerospace. Among these segments, law enforcement accounted for the major share of demand for digital forensics registered in 2014 to tackle the surging cybercrimes around the world. 

Based on geography, the global digital forensics market is segmented into Asia Pacific, Europe, North America, and Rest of the World. North America occupied the largest share in 2014, accounting for over 50% of the global digital forensics market in terms of revenue. Increasing demand for forensics in North America is mainly exhibited from the banking, IT, law enforcement, and defense sectors. Europe emerged as the second largest market, holding 30% of the global digital forensics market. High penetration of the technology in the U.K, France, and Germany has significantly aided the growth of the market in Europe.