The market for computer forensics is expected to see an increase due to the rise of 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 cybercrime, to conduct a structured investigation, in order to detect hidden facts to obtain accurate investigation results. Researchers use a variety of techniques to inspect and search for hidden, encrypted, or deleted files or folders.
Computer forensics has gained widespread popularity in developed regions such as North America and Europe due to technological advancements and increasing rates of cybercrime. Meanwhile, the rise in 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 hacking threats and cybercrime, along with increased government spending on digitizing sectors such as banking, law enforcement, defense and information technology, among others. The increase in disposable income and the increase in the number of educated consumers have also complemented the growth of the market 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 developed new regulations that are based on access to data and penalties in the event of data modification or incorrect entry in data records. .
To compete with established players, other manufacturers such as Paraben Corporation, Binary Intelligence and Digital Detectives, among others, plan to develop new computer forensic tools to attract consumer attention 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 embraced 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 recently enhanced Summation 5.6 software version, which provides case assessment, full data processing, and transcript management, final review, and management. The main objective of the launch of this product was to reveal the improved feature of this software among consumers, to gain popularity in the market. However, the increasing complexity of mobile devices and the increased use of cloud-based applications can 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 projected to have the highest growth rate in the digital forensics market driven by the rise in cybercrime and increased consumer awareness in developing countries such as China and India.