Growing Concern about Cyber Security to Elevate Digital Forensic Market

Digital forensic is a branch of forensic science that encompasses the investigation and recovery of material found in digital devices pertaining to cyber-crime. It is a process to interpret and uncover electronic digital data and preserve any type of evidence in its authentic form while performing a constructive investigation via identification, collection and validation of the digital information to reconstruct past events. Various types of digital forensics are available in the market such as mobile forensics, computer forensics, forensic data analysis and database forensics. Increasing use of digital devices in corporate sector has led to surge demand for digital forensics across the globe.

Global Digital Forensics Market: Overview

An analytical study on the global market for digital forensics, conducted by Future Market Insights, anticipates that in 2017, nearly US$ 507 million revenue was valued through global sales of digital forensics. By the end of 2027, around US$ 2,300 million worth of revenues will be obtained globally with the surging demand for digital forensics.

The study shows that growing adoption of digitization among several industries coupled with the rising cyber securities concern has led to increase demand for digital forensics. Versatile application of digital forensics in corporate business firms, government and information security are the key attributors for potential growth of global plant sterol ester market. This include corporate litigations, cyber-crimes, information security and criminal & civil investigation. Among these, increasing installation of digital forensics for the purpose of corporate litigations is expected to proliferate market growth during the forecast period.

Depending upon product type, sales of mobile device forensic is anticipated to account for US$ 2,300 million by the end of forecast period.

Future Market Insights forecasts that the global demand for digital forensics will be largely focused in the North America. The region is expected to account for US$ 830 million in 2017 and anticipated to register a CAGR 9.6% during the forecast period.

Mergers and Acquisitions: Key Strategy for Business Expansion

Several companies involved in the manufacturing of digital forensics products are strongly focusing on mergers and acquisition in order to expand theirs business and attain potential market position. Solution provider in cyber security, FireEye Inc., has acquired Mandiant Corp. The company is specialized in computer forensics and well renowned for unveiling secret Chinese military unit which is believed to be culprit for serial hacking attack on several companies in the US. As a result of merger of these two companies, arrival of innovative technologies to prevent cyber-attacks coupled with strong growth in product pertaining to FireEye’s cloud based system to detect malicious software is anticipated in the near future.

Furthermore, strong partnership established between FireEye and Decipher Forensics is highly likely to assist companies for preparation and prevention of data breaching to happen in future. Decipher Forensics, renowned for cell phone and digital forensics is an authorized reseller of FireEye has expanded its branch services across the world in partnership with parent company FireEye.

Other company such as MSAB has established partnership with the global technology firm Nuix in order to accelerate digital investigation within mobile devices together with additional evidence source. Such close integration of companies is anticipated to provide customers with MASB’s mobile devices forensics product portfolio coupled with Nuix’s software regarding digital investigation.  Another strategic partnership of MSAB with company specialized in cyber security and automotive digital forensics, Berla is expected to offer game-changing solution in data analysis and proper access for mobile devices and vehicle systems. Due to this, end users are highly likely to be provided with an entire comprehensive and compiled platform for data access for vehicle system.

In addition, Canada based company in content management, OpentText, acquired guidance software for forensic security worth US$ 240 million. Acquisition of such software is likely to offer company with a forensic tool to monitor content management such as detection of sensitive texts in documents, network drive cleaning, verification of information copied or accessed and others.

Apart from merger and acquisition, digital forensics market players are focusing to launch innovative products in order to diversify product portfolio and gain large customer base. In accordance with such strategy, LogRhythm focuses to assist IT companies with its newly launched Endpoint Threat Analytics Module to detect intruders. The product helps provide to spot threats and intrusions by modelling a varied range of network across the overall IT ecosystem. Moreover, Cellebrite Ltd., Israel based company, known for manufacturing mobile and cellular phone devices for data extraction, analysis and transfer has provided UFED Touch Ultimate System to NBE (National Bureau of Expertise) supported by the US Embassy. The UFED Touch Ultimate System is a fully fortified mobile forensic device for data acquisition and quick data access which is designed for law enforcement agency. It is highly used to envisage relationship among suspects and identify connection across several mobile devices through analysis of evidentiary item via UFED Physical Analyser software.

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Abhishek Budholiya

Abhishek Budholiya is a tech blogger, digital marketing pro, and has contributed to numerous tech magazines. Currently, as a technology and digital branding consultant with Future Market Insights, he offers his analysis on the tech market research landscape. His forte is analysing the commercial viability of a new breakthrough, a trait you can see in his writing. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.