Global Digital Forensic Market is Expected to Reach USD 3.20 Billion by 2020
Seeing towards the drastically increasing cyber-attacks day by day, it has become a necessity to own and develop a robust, emphatic digital forensic system. As name suggests, it’s a very sophisticated vertical which is consolidated with top five players holding more than 40% of the overall global market in 2016. Cisco, IBM Corporation, Guidance Software Inc., MSAB and FireEye Inc., etc. are some of the prime companies which are currently dominating this market globally.
The global digital forensic market is anticipated to reach $ 3.20 Billion by the end of 2020 with a challenging compound annual growth rate (CAGR) of 11.3% during the forecast period of 2015 – 2020. Identifying the driving and restraining factors for this industry with insights on trends, opportunities and challenges is very important to grow the market. Hence, the market is expected to grow worth $6.65 Billion by 2025 with slightly less CAGR of 9.7% during the forecast period of 2020 – 2025.
When it comes to the segmentation of the vertical, globally it is segmented based on regions. North America, Europe & APAC (Asia - Pacific) account for the largest share of the global digital forensic market followed by Latin America, Middle East regions and Africa. Based on the types, the computer forensic stood as a leading segment type in 2016. However, due to rising demand for mobile device applications, mobile device forensic is expected to dominate in the nearest forecast period.
The digital forensic investigation process incorporates the seizure, data collection, analysis of the digital media and reporting all the procedures. The current increase in the cyber-crimes has risen the challenges for government agencies and private enterprises. Cyber-threats in the developing countries such as India, Kenya even U.S & U.K is experiencing a high increase due to the evolution of innovative business models with high mobility and flexibility. Negligence towards the cyber security can make you feel regret later. In this era, one cannot afford to put his digital intellectual property at high risk. Knowing this, digital forensic organisations are increasing day by day. Their ultimate goal is to stop and remediate the security threats as efficiently as possible. India is surely going to play a vital role in the evolution of the global digital forensic market.
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