With rising technical advancements, cloud computing solutions are gaining popularity worldwide. Being cost-effective, easily maintainable, and convenient for data storage and retrieval, cloud computing and cloud security solutions, such as cloud network and digital forensics, are gaining traction across the globe.
According to ESOMAR-certified market research, the global digital forensics market is anticipated to rise at a compound annual growth rate (CAGR) of 11.2% during the forecast period from the year 2020 to 2030.
Despite having high demand, several factors, such as lack of knowledge, budget constraints, unavailability of sufficient resources, and others, digital forensics solutions are confined in the small to medium enterprise group.
Furthermore, factors, such as nonoperational manufacturing units during lockdown, decreased manpower, unavailability of raw materials, and others, have slowed down the market growth, which is expected to go on until the end of this year.
Some key takeaways from the report are highlighted below.
- Digital cloud forensics is expected to witness the highest growth at a 14.7% CAGR during the forecast period.
- The increasing cases of cyberthreats and attacks in the government, law enforcement, and other critical sectors is resulting in higher adoption of digital forensics solutions.
- Component-wise software digital forensics solutions is set to register growth at a 13.3% CAGR during the forecast period.
- Among the end users, government and law enforcement sectors will maintain the lead, followed by the legal services firms throughout the forecast period.
- The North American digital forensics market will lead other regions during the forecast period.
“Increasing adoption of artificial intelligence in digital forensics coupled by the rising cyber threats is expected to steer the global digital forensics market growth during the forecast period,” according to the research analyst.
AI is being increasingly adopted by the digital forensics market in order to obtain more advanced results because it is highly efficient in locating and identifying relevant elements in video clips and pictures in order to spot the commonalities in time stamps, places, communications, etc.
Despite facing decreased demand due to the ongoing pandemic, the global digital forensics market has high potential to grow further.
According to ESOMAR-certified market research, the global market is expected to grow by both value and volume during the forecast period from the year 2020 to 2030.