Albany, NY, Feb. 15, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has recently announced the publication of a new market research report. The report, provides in-depth analysis of the global digital forensics market. According to the research study, in 2014, the global digital forensics market was worth US$2 bn and is estimated to reach US$4.9 bn till 2021. This market is projected to grow significantly at a 12.50% CAGR between 2015 and 2021.
Increased threat of terror attacks and crime is the primary factor boosting the demand for digital forensics across the globe. Rapid growth in technology has increased the number of mobiles, computers, and other electronic devices, the demand for which is further expected to grow tremendously. This growth is projected to propel the global digital forensics market between 2015 and 2021. On the other hand, rising use of cloud-based applications and the aversion of the general populace to the risk of government snooping are expected to hamper the growth of this market.
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On the basis of type, the global digital forensics market is divided into mobile device forensics, cloud forensics, network forensics, database forensics, computer forensics, and others. Among all these segments, in 2014, computer forensics accounted for the largest market. Increased dependence on the internet and computers among corporate organizations and government institutions have extensively resulted in a rise in cyber-crimes and frauds. As a result, computer forensic tools are majorly adopted in both criminal law and private investigations, so as to determine, examine, and recover evidence or data related to computer frauds and crime.
In terms of end users, the global digital forensics market is divided into education, defense and aerospace, law enforcement, healthcare, information technology, transportation and logistics, and banking, financial services, and insurance (BFSI). In 2014, the law enforcement segment held the largest market share, thanks to the rising usage of digital forensics in collecting, presenting, and analyzing data in the form of evidence in a court of law. In addition, security threats and terrorism activities can be prevented with the help of digital traces, leading to digital forensics becoming a fundamental tool for the law enforcement and defense sectors.
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The research report has further segmented the global digital forensics market on the basis of geography into Europe, North America, Asia Pacific, and Rest of the World. In 2014, in terms of revenue, North America accounted for the largest share of around 50% of the global digital forensics market. The highest demand for digital forensics in this region primarily comes from the IT, law enforcement, defense, and banking sectors. North America is followed by Europe, which holds a share of around 30% in the global digital forensics market.
The research report on the global digital forensics market provides a complete analysis of the prominent companies operating in this market. Some of the players are Access Data, Paraben Corporation, Asr Data, Fire Eye, Logrhythm, Binary Intelligence, Lancope, Global Digital Forensics, Guidance Software, and Digital Detective.
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Key segments of the XYZ market
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
Digital forensics market, 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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Source:Transparency Market Research