Global Digital Forensics Market – Growth, Trends, Impact of COVID-19, and Forecast (2021)

The global digital forensics market is expected to register growth at a CAGR of 10.97% during the forecast period (2021-2026). The massive use of Internet of Things (IoT) devices coupled with factors such as strict government regulations and increasing cases of cyber attacks against businesses are expected to drive demand for digital forensics software over the course of the year. forecast period.

New York, November 03, 2021 (GLOBE NEWSWIRE) – announces the publication of the report “Global Digital Forensics Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” –

– Digital forensics has moved from dealing with petty computer crimes to investigating complex international cases that significantly affect the world. Digital forensics involves the recovery and investigation of material found in digital devices, often relating to computer crimes.
– Most scans are geared towards desktops, laptops and associated media including hard drive, floppy disks, and optical disks. However, other forms of digital forensics, such as cell phones and other portable devices, are becoming increasingly popular for digital preservation and preservation.
– The adoption of digital forensics is growing due to advances in traditional crime lab infrastructure, increasing penetration into corporate sectors and increasing cyber attacks and crime. For example, according to the Internet Crime Complaint Center (ICC) and the Federal Bureau of Investigation (FBI), in 2020, 43,300 cases of online identity theft were reported to the IC3. Phishing and similar frauds rank number one with 2,41,342 complaints.
– Additionally, as businesses around the world transform digitally, cloud adoption is on the rise, putting policies, such as BYOD, at the forefront in many industries. The increase in the use of cloud computing applications to access files and other data from anywhere has made working collaboration for different teams from different locations easier for businesses. Therefore, if more devices are connected to a company, more sources would be available for hackers to break into company networks.
– During COVID-19, the demand for remote working solutions has increased due to the organization’s transition from its conventional working methods to working from home. For this reason, during this period, significant organizational stress and crisis, new frauds and new misconduct risks have arisen, internal controls are lagging behind the changing risks and the need to ‘forensic investigations increased.
– In addition, the COVID-19 pandemic will require investigative techniques that reflect new models of employee remote work environments and respect legal and societal goals, such as social distancing and self-isolation. However, factors such as lack of specialized skills, use of proprietary operating systems, and high level of encryption in new mobile applications may hinder the growth of the market.

Key market trends

Network Forensics is expected to hold a significant market share

– Even though wireless communication systems are useful in providing mobile Internet access to the user, they are still vulnerable and easily exposed to interception through data transmission. Network investigation involves the capture, recording, and analysis of network packets to determine the source of network security attacks.
– Security mechanisms, such as Wired Equivalent Privacy (WEP) and WiFi Protected Access (WAP), are not sufficiently capable of guaranteeing the security of wireless communications. As a result, network forensics is increasingly in demand in many organizations.
– Digital Forensics and Incident Response (DFIR) are incorporated to perform forensic analysis when an organization is infected with ransomware or other type of network intrusion. More recently, there has been a tendency in Advanced Persistent Threat (APT) groups to attempt to hack into Industrial Control Systems (ICS).
– Many companies implement SaaS backups with an intrusion detection system that protects critical data against malicious attacks, whether external or internal. For example, in 2020, Attivo Networks announced the availability of its ADSecure solution for the managed service of Google Cloud for Microsoft Active Directory (AD). The Google Cloud team took a look at which Attivo solution works and reduces the risk of attack escalation for organizations running Active Directory with Google’s Managed Service.

North America will account for the largest market share

– The American financial system has been the target of foreign cyber adversaries for a long time. Based on this phenomenon, the United States government imposed a law for the private sector to have a dedicated Cyber ​​Protection Team (CPT) sector to provide surge capacity in the event of an ongoing cyber attack under the form of advanced analysis and forensics of network and endpoints.
– US banks, such as Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, faced cyberattacks that ultimately led to the disclosure of consumer data. It was seen as the result of weaknesses in corporate networks. Federal officials have recommended that these banks monitor their network activities. Such government charges therefore stimulate demand for digital forensic solutions in the region.
– For example, in July 2021, Paraben Corporation (a US-based company) released version 3.0 “E3 Forensic Platform” for data investigations and digital evidence. The new edition enabled a unified study of digital data from a variety of sources, including smartphones, computers, the Internet of Things and the cloud.
– Xpera Risk Mitigation and Investigation, which is the largest national provider of investigation and risk management solutions in Canada, recently announced a powerful new digital evidence tool with capabilities not found anywhere in the Canadian market private risk management.
– In addition, North America is home to the main players in the digital forensic market such as IBM, Cisco, FireEye, which offer other business applications, such as LogRhythm, Guidance Software, Access Data, Paraben, specialized in forensic solutions.
– The technological advancements of the forensic medicine department and the growth of cybercrime and advanced theft mechanisms are expected to increase investment in the digital forensics market.

Competitive landscape

The digital forensics market is moderately competitive and consists of a significant number of major players. Vendors are frequently involved in releasing new features on their products because the market is technology driven. Major players include IBM Corporation, Binary Intelligence LLC, and Guidance Software Inc., among others.

– October 2021 – FireEye and McAfee Enterprise announced that Symphony Technology Group (STG) has completed its sponsored acquisition of FireEye in a cash transaction totaling $ 1.2 billion. This transaction completed the combination of McAfee Enterprise with FireEye.
– July 2021 – Oxygen Forensics released flagship software, Oxygen Forensic Detective v.13.7. The update significantly improves Oxygen Forensic Cloud Extractor and KeyScout, which is an additional device and case description field, as well as new extraction methods for several applications. These updates benefit various government agencies that the company addresses.

Additional benefits:

– The market estimate sheet (ME) in Excel format
– 3 months of analyst support
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