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Digital Forensics Market is anticipated to hit $6.83 billion by 2023 at a CAGR of 14.20%

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Digital Forensics Market, the market is driven by the increasing area of practice in digital forensic and eDiscovery, alongside tasks involving the recovery of volatile data.

— According to the new market research report by IndustryARC titled Digital Forensics Market, the market is driven by the increasing area of practice in digital forensic and eDiscovery, alongside tasks involving the recovery of volatile data. The Digital Forensics Market value is expected to grow at CAGR of 14.20% to reach value of market size of $6.83 billion by 2023. This report covers Digital Forensics Market Size by Technology and applications, Digital Forensics market share by top 5 companies and also the market share by start-ups during the forecast period

Americas held the largest Market Share in the Digital Forensics Market

The American region holds the largest market share and growth in the Digital Forensics Market and is anticipated to reach $3.6 billion by 2023 at a CAGR of 10.8%. Database forensics is the key application segment in Americas market and is estimated to be the fastest growing segment by 2020. By 2020, the Database forensics segment or the data forensics is forecast to generate $289.0m revenue at a CAGR of 32.0%. Next fastest growing market is of mobile device forensics which will elevate from $241.3 million in 2017 to $346.8 million by 2020 with a CAGR of 14.2%.

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Product/Market Life Cycle Analysis

• The digital forensics lifecycle includes both the technical and legal aspects. The evidence demanded by a court of law need to be satisfied by the investigator using different technologies. The court requires specific data as the proof for cybercrimes and others. Understanding the required evidences, the investigator should analyze the process through which he will recover the data. Moreover, the essential amount and enough storage capacity needs to be checked.

• Presenting the information in a court of law should ensure that nothing has been doctored or manipulated by any means. For this, correct storage device with enough space and appropriate tools for recovery should be used. Along with the data made available, the time factor is vital. The efforts taken for data collection and time consumed is taken into consideration. Thus, the affecting factors need to be taken care of in the retrieval process. Obtaining and presenting the information efficiently depends upon the investigator’s knowledge.

• After retrieving the data, reliability is checked. The original data and the imaged data should be the same. This originality is checked using the hash functions. The matching of hash function of original data and imaged data determines the authenticity. The variation occurs due to variety of formats used, collection of accuracy in email origin, network delay and other factors. If one fails to maintain reliability, the incorrect presentation in a court of law will not lead to the motive. Since a single event makes a mark on multiple systems, tracing the tampering of actual data becomes possible.

• Once the reliable data is attained, reviewing becomes important so as to present it in the court of law. The format and content should be as expected by the court. Hard disk, compact flash and memory chips are some of the examples of storage devices. In the end, the representation of information should be made such that the lawyers, judges and other involved members should understand the evidences. Some of these may not have the requisite knowledge about the digital world and thus, care needs to be taken that the correct message is conveyed to them.

• Finally, all these efforts need to be preserved for possible requirements in the future. It can be for the same case or some other similar case. Not all types of data can be stored in the repository, but the datasets which are of high importance, need to be saved in a proper format such that it stays intact for a long duration.

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Excerpts on Market Growth Factors

• The market is gradually evolving worldwide, owing to the technological advancements taking place in digital forensics industry.
• The growth also indicates the growing research being carried out in this field. These research efforts with innovation and technologically advanced forensics solutions could bring good growth for this sector in the future.
• The increasing number of connected devices and evolving communication technologies have propelled the demand for the requisite infrastructure, which in turn fuel the growth for digital forensics across the globe.
• The huge untapped market for the cloud computing forensics segment is a significant growth driver for the overall digital forensics market.
• Growing awareness of feasibility and efficiency of advanced forensics technology is leading the increased demand on the part of traditional customers of forensic laboratories.
• Computer Forensics contributes majorly to the digital forensics market. It is estimated to grow to $1,791.3 million by 2020 at a CAGR of 12.4%.
• The mobile forensics market is forecast to grow to $612.8 million by 2020.
• Mobile device forensics and Database forensics are going to be the major growing applications in the European region for Digital forensics market.

Key players of Digital Forensics Market:

• The prominent players profiled in this report are Invitrogen, Evestigate, AccessData, Forensicon Inc., Cellebrite, Digits LLC, CCL Group Ltd.
• Key stakeholders in the digital forensics market include: Forensic Companies, Product OEMs, Service Providers, IT / Network Administrators, Data Security Specialists, Data Audit and Recovery.
• At the global level, companies such as FireEye, AccessData Group, ManTech Cyber Solutions, CYFOR, CCL Group and Cellebrite are the key market leaders in this industry. Other key companies include MSAB (Mobile forensics), Rits (eDiscovery).
• The big four consulting companies KPMG, PwC, Deloitte and Ernst & Young also act as key partners and advisors for their clients, including digital forensics assistance necessary for their in-house teams or outsourced to market player.

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About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: +1-614-588-8538
Website: https://www.industryarc.com/Domain/7/information-communication-technology-market-research.html

Source URL: https://marketersmedia.com/digital-forensics-market-is-anticipated-to-hit-683-billion-by-2023-at-a-cagr-of-1420/88895481

Source: MarketersMedia

Release ID: 88895481

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