Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled "Digital Forensics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021." According to a new market report, the global Digital Forensics market was valued at USD 2.03 billion in 2014 and is expected to reach USD 4.97 billion by 2021, at a CAGR of 12.5% through forecast period. Due to rapid advancements in forensic technology, such as the ability to recover complex data from electronic devices, fingerprint recovery from metals, and Deoxyribonucleic acid (DNA) profiling, decreasing price over period of time, which in turn has increased the affordability of forensic applications along with their market penetration across the globe. In addition, growth in sectors such as law enforcement, banking, information technology, and defense, among others, has been the key driving factor for the market growth during the forecast period from 2015 to 2021.
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Law enforcement agencies and stakeholders have been using digital forensic tools to reduce crime rates and support investigations in courts of law Moreover, with rapid technological developments; digital forensics is becoming an important asset in analyzing corporate theft in IT, defense and banking sectors. Growing cyber crimes and rising confidentiality issues among different sectors worldwide are primarily bolstering the growth of the market. The market for digital forensics has witnessed substantial economic growth in recent years.
The global Digital Forensics market by types has been segmented broadly into six segments: computer forensics, network forensics, cloud forensics, mobile device forensics, database forensics and others. Computer forensics held the largest share of the market globally in 2014 and accounted for more than 30%, owing to increasing applications of digital forensics in efficient and coordinated detection, analysis, and presentation of computer data in courts of law.
In terms of industrial uses of digital forensics, the global market is bifurcated into seven segments, namely: law enforcement, healthcare, education, banking, financial services and insurance, information technology, transportation and logistics, defense and aerospace. Law enforcement sector held the largest share of the market in 2014, due to wide implementation of digital forensic tools by law enforcement officers in effectively suppressing the surging cyber crime rates worldwide.The global 'Digital Forensics market' has been divided broadly into four geographic regions, including North America, Europe, Asia Pacific and Rest of the World (RoW). In 2014, North America acquired the largest share of the global market in terms of revenue and accounted for more than 50%. The market in North America is primarily driven by increasing demand for digital forensics in law, banking, defense and IT sectors. Europe held the held the second largest market globally and accounted for approximately 30%. The market in this region is driven by the high penetration of digital forensic technology in Germany, France and UK among others.Some of the major players in the digital forensics market are Guidance Software, Inc. (U.S.), LogRythm, Inc. (U.S.), AccessData Group, Inc. (U.S.), Paraben Corporation (U.S.), Binary Intelligence (U.S), Fireeye Inc. (U.S.), Digital Detectives (U.S.), ASR Data (U.S.), Lancope, Inc. (U.S.) and Global Digital Forensics (U.S.).
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This report provides in-depth analysis of the global digital forensics market along with the market estimates, in terms of revenue (USD billion) for the forecast period from 2015 to 2021. Moreover, the global market has been segmented on the basis of types and industry uses. Cross sectional analysis of the digital forensics market across four broad geographical regions has also been covered under the scope of the report.
The global digital forensics market has been segmented into:
Digital forensics market, by Types
- Computer forensics
- Network forensics
- Cloud forensics
- Mobile device forensics
- Database forensics
Digital forensics market, by Industry use:
- Banking, Financial Services and Insurance (BFSI)
- Defense and Aerospace
- Law Enforcement
- Transportation and Logistics
- Information Technology
Focused ion beam, by Geography: The market is broadly segmented on the basis of geography into:
- United States
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Rest of the World (RoW)
- Middle East
- South America
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