Digital forensics market is expected to grow to US$ 6.95 billion by 2025 from US$ 3.08 billion in 2017
Digital
forensics market is expected to grow to US$ 6.95 billion by 2025 from US$
3.08 billion in 2017. The sales of digital forensics is largely influenced by
numerous economic and environmental factors and the global economy plays a key
role in the development of digital forensics market.
Today, there has been an explosion of
digital devices and the estimated number of devices in use is approximately
around half the population of the earth. Also, businesses have grown
increasingly dependent on the cloud-based technologies owing to cost advantages
and lesser total cost of ownership of the data. Focusing on core competencies
of business has been the most common practice followed by large and successful
business around the globe. And thus, carrying business related operations
in-house while outsourcing the rest to third parties has been the most commonly
found practice amongst businesses.
The pace at which digitalization is
growing the world is anticipated to thrive for highly skilled professionals
that can efficiently address and catapult the demand for digital forensics. To
suffice the demand for awareness and understanding of digital forensics the
government across the globe are organizing programs that support education of
digital forensics. For instance, the University of Illinois at Urbana has taken
an initiative to train its students on digital forensics and is anticipated to
contribute to the increasing demand for skilled professionals in this field.
Apart from this, Malaysia also has been promoting the readiness towards digital
forensics and incorporates dedicated institute for digital forensics.
Globally, North America leads the
market in terms of revenue, however for the coming years APAC is anticipated to
grow exponentially. APAC is a rapidly developing region with several
technological initiatives taking place simultaneously. Some of the developed
countries such as China and Japan have readily adopted digital forensics in
various sectors, otherwise the technology is still in the developing phase in
other majority countries of APAC. Moreover, with the adoption of digital
devices and advent IoT in the regions government sector and also in different
organizations, for the improvement of their business for enhancement of
efficiency and modernization across the industrial, healthcare, enterprise,
retail and municipality sectors the security issue is also expected to ascend.
The overall market size has been
derived using both primary and secondary source. The research process begins
with an exhaustive secondary research using internal and external sources to
obtain qualitative and quantitative information related to the market. Also,
primary interview were conducted with industry participants and commentators in
order to validate data and analysis. The participants who typically take part
in such a process include industry expert such as VPs, business development
managers, market intelligence managers and national sales managers, and
external consultant such as valuation experts, research analysts and key
opinion leaders specializing in the digital forensics industry.
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