The computer forensics market is expected to see a surge due to the rise in sophisticated digital crime and terrorist attacks and economic growth in developing countries. Computer forensics, which refers to the analysis and reporting of digital data for legal purposes, is the most prominent market within the overall digital forensics market. Computer forensics has become much more dynamic in the field of cyber crime, to conduct structured investigation, in order to detect hidden facts to obtain accurate investigation results. Investigators use a variety of techniques to inspect and search for hidden, encrypted, or deleted files or folders.
Computer forensics has gained wide popularity in developed regions such as North America and Europe due to technological advances and rising rates of cybercrime. Although, the rise of corporate fraud has increased the demand for computer forensics. The UK and other European countries, such as Italy and Germany, have seen a growing trend in computer forensics as the various industries in the region have become more aware of the security of their data. Consequently, manufacturers are exploring innovative products and services to strengthen their market presence and meet growing demand.
Computer forensics has also gained popularity in developing countries such as India and China due to increased threats of hacking and cybercrime, coupled with increased government spending on digitizing sectors such as banking, law enforcement, law, defense and information technology, among others. Rising disposable income and an increase in the number of educated consumers have also complemented market growth in the region.
The recommendation of computer forensics as a necessity for proper investigation by government organizations has rapidly increased its adoption rate in both developed and developing economies. For example, to maintain integrity, the governments of different countries in regions such as China and Brazil, among others, have created new regulations that are based on access to data and the sanction in case of data modification or incorrect entry in data. data logs. .
To compete with established players, other manufacturers such as Paraben Corporation, Binary Intelligence, and Digital Detectives, among others, plan to develop new computer forensics tools to attract consumers and increase their market share. However, major market players such as Access Data Group Inc., Guidance Software, Inc., and LogRhythm Inc. have been using economies of scale to meet the growing demand for computer forensics. Established brands have adopted product launches, partnerships and business expansion as their growth strategy to strengthen their market presence. For example, in February 2015, Access Data Group Inc. announced the development of the newly enhanced Summation 5.6 software version, which provides case evaluation, full data processing and management, final review, and transcript management. The main purpose of this product launch was to reveal the enhanced feature of this software among the consumers, to gain popularity in the market. However, the increasing complexity of mobile devices and the increased use of cloud-based applications may hamper the growth of the digital forensics market.
Geographically, North America has become the largest market for digital forensics. Rising cyber crime rates and technological advancement make this region favorable for growth in the forecast period. However, Asia-Pacific is anticipated to have the maximum growth rate in the digital forensics market driven by rising cybercrimes and rising consumer awareness in developing countries such as China and India.