The global digital forensics components market was valued at USD XX Billion in 2018 and is expected to reach USD XX Billion by 2026, growing at a CAGR of 16.3% during the forecast period.
Digital forensics, also known as computer forensics, is the process of finding and interpreting electronic data, often related to computer crimes. Digital forensics solutions are used in gathering, finding, authenticating, and safeguarding digital evidence. The demand for digital forensics components is increasing owing to increasing occurrences of cyber-attacks that result in heavy financial loss and the damage of goodwill or brand image of a company. It aims to recuperate the lost or stolen data by using tools such as data collection, data processing, digital device acquisition, decryption, data analysis, and flexible reporting.
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Apart from these, rapid development in forensic technologies such as fingerprint recovery from metals, is one of the major factors to drive the growth of the digital forensics components market. Further, stringent government regulations and the growing pace of digitalization are going to drive the shift towards digital forensics components during the forecast period.
Additionally, companies are focusing on developing innovative products and services and are investing in research and development to enhance product portfolio. For instance, in October 2019, Paraben Corporation has released Version 2.4 of the E3 Platform with multi-acquisition support. It allows investigators to access social media backups from archived downloads from popular social media accounts like Twitter, Snapchat, Facebook, etc.
However, increasing complexities of mobile and other devices and lack of expertise in deploying these solutions are expected to impede the growth of the digital forensics components market.
- Based on component, the service segment is expected to have the highest market share during the forecast period.
- Based on type, network forensics is expected to hold the largest share in the market during the forecast period.
- Based on tools, the data recovery segment is expected to hold the highest market share during the forecast period.
- Based on the end-use industry, the BFSI segment is anticipated to have the highest share in the market during the forecast period.
- Based on regions, the North America is anticipated to capture a significant portion of the global digital forensics components market during the forecast period.
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- In April 2017, Guidance Software, Inc. entered a partnership with a leading player in malware detection “Lastline Inc”. The integration combines EnCase Endpoint Security with Lastline Enterprise to automate and improve the incident response workflow and increase their ability to respond to advanced cyberattacks.
- In October 2019, Oxygen Forensics has launched Oxygen Forensic Detective 12.0, a multi-tab interface to effortlessly handle multiple extractions while retaining the full ease of use and to increase the speed of Oxygen Forensic Detective’s data processing and decoding capabilities.
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