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CST: 17/09/2019 15:43:56   

Digital Forensics Market to Expand as Data Breaches Irk Organizations – TMR

13 Days ago

Global Digital Forensics Market is to Expand at a 9.7% CAGR due to Rise in Usage of Mobile Phones

Albany, New York, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The global digital forensics market is growing alongside increasing complexity of hardware networks. Cybersecurity has reached the pedestal of priority across global organizations and companies. The vulnerability of cyber networks to cyber intrusions and attacks has generated an unresisted demand for improved cybersecurity procedures. Furthermore, cyber criminals have become more sophisticated in their approach to disrupt the integrity of cyber networks. The use of digital forensics to conduct a thorough investigation of a cybercrime has led to the growth of the digital forensicsmarket.

Several renowned names such as Yahoo, JP Morgan, Facebook, and Quora have fallen victim to data breaches over the past. Neither the stellar size of these companies, nor their solid cybersecurity structures, could avert well-planned data attacks. This is an appalling factor, and it reflects of the need to have digital forensics at the helm of cybersecurity. The global digital forensics market is projected to expand as companies show seriousness toward reporting cybercrimes. Furthermore, the use of digital forensics shall increase across organizations that use consumer data on a regular basis.

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Complex Organizational Structures

Growing complexity across organizations has led to the induction of new cutting-edge technologies. Furthermore, data transfer protocols have become an integral part of international systems and companies. This has increased the vulnerability of companies to data breaches as intruders find easy access to data nodes and streams. Hence, services within the global digital forensics market have become a key resort for global companies and organizations.

The global digital forensics market is projected to grow at a health CAGR of 9.7% over the period between 2017 and 2025, finds Transparency Market Research. Furthermore, this market is slated to touch a value of US$6.65 bn by 2025, rising up from a value of US$2.87 bn in 2016. Overhauling of the digital landscape, with the intent to foster digital transformations is behind this stellar rate of market growth. Cyber-crimes can act as a deadlock for national and regional territories, and may even handicap the economic growth of a nation. This factor has led governments to invest in digital forensic technologies in recent times.

Companies with a robust system for digital forensics are more likely to bring cyber criminals to justice. Digital forensics provides investigative proof that can be reported to the court of law by affected entities and organizations. This factor has played an integral role in the growth of the global digital forensics market. In the absence of digital forensics, all claims made by affected companies will be futile and worthless in the court of law. Therefore, active deployment of digital forensic systems ensures a strong backing for companies and organizations.

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Government Authorities at a Risk of Suffering Cyber Attacks

Government authorities are also at a risk of suffering data breaches. Malicious practices across the cyber ecosystem can often bring government entities under the radar of attack of cyber criminals. Furthermore, enmities between regional territories and neighbour states can lead one nation to attack the cyber assets of the other. For this reason, digital forensics has become a domain of national relevance. The need for protecting the national assets of a region has become a pressing global need.

The examination of digital forensics can also help companies find loopholes in their own cybersecurity structure. This factor has also led to increased demand within the global digital forensics market.

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Some of the key players operating in the global digital forensics market are CISCO, Paraben Corporation, Guidance Software Inc., Micro Systemation AB, and LogRhythm Inc.

The review is based on TMR’s report titled, “Digital Forensics Market (Type - Computer Forensics, Network Forensics, Cloud Forensics, Mobile Device Forensics, and Database Forensics; Application - Health Care, Education, Banking, Financial Services, And Insurance (BFSI), Defense And Aerospace, Law Enforcement, Transportation And Logistics, and Information Technology) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.

The global digital forensics market is segmented by:

  • Type
    • Computer Forensics
    • Network Forensics
    • Cloud Forensics
    • Mobile Device Forensics
    • Database Forensics
    • Others
  • Application
    • Health Care
    • Education
    • Banking, financial services and insurance (BFSI)
    • Defense and Aerospace
    • Law Enforcement
    • Transportation and Logistics
    • Information Technology
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Middle East and Africa
    • Latin America

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