Market Overview:

The Digital forensics industry is projected to grow from USD 11.6 Billion in 2023 to USD 22.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.40% during the forecast period (2023 - 2030). Digital forensics refers to the examination and retrieval of digital evidence in the case of computer-related crimes. One of the most important fields to emerge from the original area of forensic science is digital forensics investigation. 

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Key Players:

Key Companies in the Digital Forensics market include,

• AccessData Group LLC
• ADF Solutions
• Cellebrite Paraben
• Coalfire
• Digital Detective
• LogRhythm
• Magnet Forensics
• MSAB
• OpenText Corporation
• Oxygen Forensics, among others

The majority of the world's major powers are boosting their spending on digital forensics. In addition, they are introducing them into people's everyday lives, raising demand for these kinds of services. 

Companies are now offering methods to limit the COVID-19 outbreak in the marketplace. This technique uses cellular telephones to track where people have gone, who they've spoken to, and when they've done it, among other things. In the end, COVID-19 was a game-changer for the digital forensics business since it discovered several fraudulent operations. On the other side, the current market environment shows that throughout COVID, the infection had a significant influence on industry professionals, predicted demand schedules, and supply chains, among other important elements. As a result of this epidemic, Digital Forensic can assist you in determining which organizations will profit and which will fall out.

Market Segmentation:

The digital forensics market is categorized based on tool, component, vertical, type, and geography. Component: digital forensics software and hardware are divided into cloud forensics, mobile device, computer, and forensic network markets. 

According to the prediction, computer forensics will account for most of the market share over the next several years. Since more and more company operations are moving to the digital realm, there has been a surge in the quantity of secret corporate and transaction records that must be safeguarded to guarantee their authenticity and that only those with appropriate rights have access to it. As a result, this market has the greatest share because computer forensics contribute significantly to information security controls by ensuring data integrity.

Regional Classification:

It is expected that North America will account for the majority of worldwide digital forensics revenue in 2017. The city is home to some prominent digital forensics experts as a bonus. The majority of businesses in the area use cloud computing to streamline their operations. Cyber-attacks in this area have been expedited by the increased prevalence of mobile gadgets, such as cellphones, computers and USBs, which aid in continuing company operations. The broad implementation of cloud computing and the quick adoption of data standards will likely serve as major growth drivers for the digital forensics industry. 

In addition, the number of assaults is expanding substantially and getting more complex due to the widespread use of cloud-based services in North America. As a result, many law and government enforcement around the United States are taking steps to enhance the digital forensics industry.

Industry News

A new version of Oxygen Forensic Detective, driven by JetEngine, will be released in Dec 2019, Oxygen Forensics has revealed. Image classification and categorization are included in the database, making it possible to sort and classify photographs using artificial intelligence into 12 areas, such as illicit substances, weapons, alcoholic beverages, and naughty behaviour, to obtain specific photos quickly.

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Digital Forensics Industry Developments:

January: The FBI releases a new guide on how to conduct digital forensic investigations of mobile devices.

February: The Department of Homeland Security announces a new partnership with the private sector to develop new digital forensics tools.

March: The National Institute of Standards and Technology (NIST) releases a new set of guidelines for digital forensic practitioners.

April: The European Union adopts new regulations on data protection, which have implications for digital forensics.

May: The International Organization for Standardization (ISO) publishes a new standard on digital forensics.

June: The American Society of Crime Laboratory Directors (ASCLD) releases a new accreditation program for digital forensics laboratories.

July: The National Security Agency (NSA) releases a new tool for analyzing encrypted data.

August: The SANS Institute hosts a conference on digital forensics.

September: The International Association of Computer Investigative Specialists (IACIS) hosts a conference on digital forensics.

October: The Society of Digital Evidence (SDFE) hosts a conference on digital forensics.

November: The Digital Forensics Research Workshop (DFRWS) is held.

December: The annual Digital Forensics Conference is held.

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