The global digital forensics market is projected to witness a rapid growth during the forecast period. Increasing emergence of cloud-based technologies is a major factor driving the growth of the market. Moreover, increasing adoption of internet of things and growing popularity of connected devices across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is fueling the growth of the global market.
The global Digital Forensics Market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the digital forensics market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the North American digital forensics market owing to the presence of a large number of established key players such as AccessData, Perkinelmer Inc., Guidance Software, Inc., FireEye, Inc., Oxygen Forensics, Logrhythm and Binary Intelligence LLC in this region. Due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of mobile applications in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. Increasing need for innovations and advancements in the technology are other major factors responsible for the growth of the global digital forensics market.
In the global digital forensics market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the increasing number of cybercrimes across different countries in the region.
The global digital forensics market is projected to reach USD 5 billion at a CAGR of over 11% by the end of the forecast period 2017-2023.
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Digital Forensics Market Segmentation:
The global digital forensics market is segmented on the basis of component, type, deployment and application. The deployment segment is classified as cloud and on premise deployment models. However, the on premise based deployment segment is expected to hold the largest market share of the digital forensics market. This is owing to the security issues in order to protect the data which is extracted. Digital forensics offers structured investigation by collecting, identifying and validating the available digital information.
Digital Forensics Market Players:
Some of the prominent players in the global digital forensics market: AccessData (U.S.), Perkinelmer, Inc., (U.S.), Guidance Software, Inc. (U.S.), FireEye, Inc. (U.S.), MSAB (Sweden), Oxygen Forensics (U.S.), Paraben Corporation (U.S.), Nuix Pty Ltd. (Australia), Logrhythm (U.S.), Binary Intelligence LLC (U.S.), Cellmark (UK), CCL Solutions Group Ltd. (UK), Cellebrite (Israel), IBM Corporation (U.S.), Magnet Forensics Inc. (U.S.), Cisco Systems, Inc. (U.S.), Lancope Inc. (U.S.), SecureWorks Inc. (U.S.), Stroz Friedberg LLC (U.S.), FRONTEO Inc. (Japan), Kroll, Inc. (U.S.), Guardian Digital Forensics (U.S.), CYFOR (UK) and others.
Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for security of the digital data in this region. U.S. holds the majority of market share both in terms of revenue as well as the adoption of cloud based technologies.
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