Global market of digital forensics is expected to reach the market value of 4.97 billion by 2021 and is expected to grow at a CAGR of 12.5% in terms of revenue during the period 2015 - 2021. Digital forensics is a process of recovery and interpretation of data found in digital devices for use in a court of law and is mostly related to computer crime. —
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Digital forensic investigation involves three steps such as investigation, gaining of exhibits, and reporting. Due to rapid development in technology, the number of computer, mobiles, and other electronic devices is anticipated to grow exponentially, which in turn is expected to drive the growth of digital forensics market. Digital forensics is becoming a vital tool for defense and law enforcement since terrorism and security threats can be prevented on the basis of digital traces. In terms of value, law enforcement was the largest contributor to the global digital forensics market in 2014, primarily due to increasing execution of digital forensics in gathering, evaluating and presenting data as proofs in a court of law.
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Increasing Threats from Crimes and Terrorist Attacks
Increasing capital crimes and terrorist attacks are the major factors that are driving the growth of digital forensics market. In recent times, there has been a surge in dependence on computers and Internet among both government and corporate organizations. Moreover, due to significant rise in the generated data, cloud computing is being increasingly accepted by more and more users. However, these growing technology trends and high rate of Internet penetration are also responsible for cyber-crimes and cyber frauds. Digital forensic technology plays an integral role in preventing Internet related crimes and misuse of company data. It is used in both private investigation and criminal law in order to analyze, examine, and recover data or evidences that are related to computer crime. Terrorism and security threats are prevented on the basis of digital traces and, thus, a large number of investigators are getting inclined towards forensic technology.
Insights on Market Segments
The digital forensics market is segmented based on type, industry use, and geography. Based on type, digital forensics market is categorized into computer forensics, network forensics, cloud forensics, database forensics, mobile device forensics and others. Depending on industry use market is classified into healthcare, education, BFSI, defense and aerospace, law enforcement, transportation and logistics, others. By geography, the market is bifurcated into North America, Europe, Asia-Pacific and Rest of the World.
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Computer Forensics Expected to Generate Highest Revenue
Based on type, computer forensics emerged as one of the largest segment on account of its widespread application in various law enforcement agencies as computers may hold relevant files with sensitive data related to crimes such as kidnap, murder, drug trafficking or fraud. Cloud based applications are gaining popularity as more and more data is stored and backed up over the network. The global digital forensics market is on the rise due to continuous development in the IT world. Widespread proliferation of smartphones globally opens up new doors for digital forensics market in coming years.
Some of the leading players in the global digital forensics market are Digital Detectives, Paraben Corporation, Guidance Software, Inc., LogRhythm, Inc., Binary Intelligence, FireEye Inc., ASR Data, Lancope, Inc., Access Data Group, Inc. and Global Digital Forensics among others.
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