Digital Forensics Components Global Market growing at a CAGR of 16.3% during 2020-2025 Demand in Bank, IoT devices & Other Tech.

Fri Jan 10, 2020 - 2:00am GMT+0000

Global Digital Forensics Components Market 2020-2026 growing at smart transportation, smart grids, smart city projects, smart homes, and vehicular connectivity and autonomous vehicles (Details Report)

Dublin, United States – January 9, 2020 /MarketersMedia/

Digital forensics also known as computer forensics, is a branch of forensic science that includes the recovery, investigation, identification, presentation, and validation of facts concerning digital evidence obtained on computers or similar digital storage media devices. Digital forensics can be conducted by tools such as data acquisition and preservation, data recovery, forensic data analysis, forensic decryption and review, and reporting. The demand for digital forensics component is increasing owing to increasing instances of cyber-attacks and rapid technological advancement in connectivity and computing.

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Additionally, the advent of mobile and online banking is resulting in major cybercrimes, which can lead to the loss of customer data and information and heavy financial loss for organizations. Increasing safety and security concerns among organizations are pushing the demand for digital forensics components. Also, the extensive use of IoT devices in numerous end-use Industry areas, such as smart transportation, smart grids, smart city projects, smart homes, and vehicular connectivity and autonomous vehicles are fuelling the demand for digital forensics components. With the rapid integration of IoT devices, the chances of unusual events such as cyber-attacks and data loss have increased considerably.

Global Digital Forensics Components Based on the End-use Industry:
the market has been segmented into defense & aerospace, BFSI, telecom and IT, transportation and logistics, retail, healthcare, and others. The other segment includes education and energy & utilities. The BFSI segment is anticipated to have the highest market share during the forecast period. The growing requirement for digital forensics components to determine digital evidence for bank account investigation or fraud investigation is expected to accelerate the demand for digital forensics components. Further, with the growing pace of digitalization, consumers are becoming more tech-savvy while attackers are getting more expertized in cracking codes and breaking down firewalls. The rising need for securing individual financial and personal information is driving the demand for digital forensic in BFSI.

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Global Digital Forensics Components Based on Type:
The Market has been segmented into computer forensics, network forensics, mobile device forensics, and cloud forensics. The network forensics segment is expected to have the highest market share during the forecast period. Network forensics aims at collecting evidence through recording, capturing, and analyzing network packets to verify the source of network security attacks. The escalating number of attacks on the network and rising penetration of the internet in homes are some of the key factors that are expected to boost the demand for this segment. Further, with the increasing demand for network security, the need for digital forensics services has increased in the market.

Global Digital Forensics Components Company Profiles and Competitive Intelligence:
The major players operating in the global digital forensics components market are, Accessdata Group, Inc., Guidance Software, Inc., Cellmark Forensic Services, MSAB, FireEye, Inc., CCL Solutions Group Ltd., Oxygen Forensics, Binary Intelligence LLC, Global Digital Forensics, LogRhythm, Inc., Cellebrite, Magnet Forensics, Inc., Digital Detective Group, and Paraben Corporation, among others.

Global Digital Forensics Components Based on Tool:
The Market has been segmented into forensics data analysis, data recovery, review and reporting, forensic decryption, and others. The forensic data analysis segment is anticipated to have the highest market share during the forecast period. The growing need for data analytical tools for identifying the significance of potential evidence, prioritizing it, and deciding whether more processing is required, is expected to drive the demand for this segment. Also, this tool offers several benefits such as recording and retrieval capabilities, better visibility of risks, and deep analysis capabilities through metadata. These factors are anticipated to drive the growth of the forensic data analysis segment.
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This news is published on Reuters.