Digital Forensics Market revenue to hit USD 86 Billion by 2035, says Research Nester

Key digital forensics market players include OffSec Services Limited, FireEye Inc., IBM Corporation, Micro Systemation AB, Cellebrite Ltd., Ernst & Young, KPMG, Fintactics, Deloitte Touche Tohmatsu Limited, Binary Intelligence Technology Ltd., and others.

New York , Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global digital forensics market size is expected to expand at 18.90% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 86 billion by the end of 2035, up from a revenue of USD 11 billion in the year 2022. This growth of the market is poised to rise on account of growing cybercrimes. Worldwide, about 15 thousand cybercrime incidents were reported between November 2021 and October 2022. Therefore, the digital forensics demand is estimated to rise.

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Furthermore, digital forensics has grown into an essential component of law enforcement organizations and enterprises as society grows more dependent on computer systems and cloud computing. In 2022, one (about 33%) or two (over 26%) clouds are employed by the majority of firms (61%) within their organization. The identification, preservation, inspection, and evaluation of digital evidence using procedures that have been scientifically approved and proven for use both within and outside of a court of law is the focus of digital forensics.

Digital Forensics Market: Key Takeaways  

  • Market in North America region to propel the highest growth.
  • The computer forensics segment to garner the highest growth
  • Market in Asia Pacific region to grow at the highest rate

Surge in Use of the Internet to Boost the Growth of the Global Digital Forensics Market

Over 4 billion individuals employed the internet globally as of October 2023, accounting for approximately 64% of the world's population. The quantity of personal data and information that is made available online is growing along with the growth in internet usage. This could happen voluntarily, as in the case of someone giving their consent to a social network to utilize their services, or it might happen inadvertently, as in the case of a cybercrime attack or data breach victim. As a result, the need for digital forensics is also surging.

Digital Forensics Industry: Regional Overview 

The global digital forensics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Surge in People Working from Home to Influence the Market Growth in North America

The digital forensics market for North America is set to capture the largest market share of ~35% over the coming years. The major element to dominate the market expansion in this region is growth in the number of people working from home. Over 31 million Americans, or nearly 21 percent of the workforce, are predicted to work remotely by 2025.

Growth in Adoption of Phones to Drive the Market Expansion in Asia Pacific

The Asia Pacific market for digital forensics is predicted to gather the notable share of ~22% over the forecast period. This could be on account of rising adoption of smartphones. For instance, the percentage of users of smartphones in the Asia-Pacific area increased from over 63 percent in 2019 to approximately 75 percent in 2022. It was estimated that over 89% of smartphones would be in use in Asia-Pacific by 2030.

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Digital Forensics Segmentation by Type

  • Computer Forensics
  • Mobile Forensics
  • Cloud Forensics
  • Network Forensics

The computer forensics segment is estimated to gather the highest revenue by the end of 2035. This growth of the segment is set to be dominated by the growing prevalence of hacking in offices. The employment of computers in offices is high and the prevalence of hacking is also high. Furthermore, various applications are installed in the organization’s computer hence when those applications are hacked the office's personal information also comes under threat. For instance, In June 2023, the Federal Civilian Executive Branch, or FCEB, first discovered unauthorized activities on Microsoft 365 cloud environments. The company notified the Cybersecurity and Infrastructure Security Agency and Microsoft about the problem.

Digital Forensics Segmentation by End-User

  • Healthcare
  • Education
  • BFSI
  • Government & Law Enforcement Agencies

The BFSI segment is set to have notable growth over the forecast period. This growth is poised to be encouraged by the growing prevalence of hacking in the banking sector. As of December 2022, there had been over 565 breaches in the finance and insurance industries worldwide, resulting in over 253 million records being compromised.

Digital Forensics Segmentation by Components

  • Hardware
  • Software
  • Services

A few of the well-known market leaders in the global digital forensics market that are profiled by Research Nester are OffSec Services Limited, FireEye Inc., IBM Corporation, Micro Systemation AB, Cellebrite Ltd., Ernst & Young, KPMG, Fintactics, Deloitte Touche Tohmatsu Limited, Binary Intelligence Technology Ltd., and others.

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Recent Development in the Market 

  • OffSec Services released Kali Linux 2022.4, the most recent version of the feature-rich digital forensics platform. The main feature is widespread penetration testing, which is now available on Microsoft Azure. You can use this to assess the security of particular networks.
  • Fintactics formed a joint venture with Aion Digital and introduced Lezaam. All of the tools and functionalities needed for digital onboarding, eKYC, AML screening, compliance, and digital forensics are included into the Lezaam.

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.


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