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US Digital Forensics Market 2024 Industry Analysis, Opportunities, Technology, Demand, Top Players and Growth Forecast 2032

Market Overview:

Digital forensics has grown from addressing minor computer crimes to investigating complex international cases that significantly affect the world. The US digital forensic market has experienced significant growth and evolution in recent years, driven by the increasing reliance on digital technologies across all sectors. This dynamic field encompasses the collection, analysis, and preservation of digital evidence for investigative and legal purposes. The market has expanded due to the rising incidence of cybercrimes, corporate data breaches, and the proliferation of digital devices.

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One of the primary drivers of this market’s growth is the escalating cyber threat landscape. As cyberattacks become more sophisticated and frequent, the demand for digital forensic services and tools has surged. Government agencies, law enforcement, and private organizations are investing heavily in digital forensics to investigate and mitigate cyber incidents.

Digital forensics includes recovering and investigating material found in digital devices, often concerning computer crimes. US Digital forensic market is growing at a CAGR of $ % from 2022 to 2028.

Majorly due to increase in adoption of digital IOT penetration in corporate sectors and also rise in cyber-attacks. According to the Internet Crime Complaint Center (ICC) and Federal Bureau of Investigation (FBI), 43,300 cases of online identity theft were reported to the IC3. Phishing and similar fraud ranked first, with 2,41,342 complaints.

The US digital forensic market operates within a complex ecosystem that encompasses a variety of stakeholders and components. At its core are the digital forensic professionals and experts who conduct investigations, analyze digital evidence, and provide critical insights for legal and investigative purposes.

Law enforcement agencies, including federal, state, and local authorities, constitute a significant part of this ecosystem. They rely on digital forensics to investigate cybercrimes, financial fraud, and various criminal activities. Similarly, legal firms and corporate entities have become key players, utilizing digital forensic services to uncover evidence in civil litigation, intellectual property disputes, and internal investigations.

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Academic institutions and research organizations contribute by conducting cutting-edge research, developing new forensic methodologies, and educating future digital forensic professionals. Certification bodies play a pivotal role in ensuring the competence and adherence to industry standards among digital forensic practitioners.

US Digital forensics Market Analysis

Digital forensics has been an evolving industry, which is constantly growing with major acquisitions and ventures from different companies. Government forensics, IT, and telecom are the major areas where there is a need of Digital forensics market.

The US Digital forensics market is growing at the CAGR rate of ~$% during the forecast years 2022-2028 and it the previous years of 2017-2022, we have encountered a CAGR of ~$% in the market.
According to the White House Council of Economic Advisers, the US economy faces losses of approximately USD 57 billion to USD 100 billion per annum due to cybercrime activities.
The ongoing digital transformation across industries was a significant driver. Companies were increasingly investing in technologies like cloud computing, IoT, AI, and automation to enhance efficiency, productivity, and customer experience.
The e-commerce sector was booming, accelerated by the COVID-19 pandemic. Online shopping, contactless payments, and last-mile delivery services were in high demand, driving growth in this sector.
The remote work trend, also catalyzed by the pandemic, led to increased demand for collaboration tools, remote access solutions, and cybersecurity measures to support a distributed workforce

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Key Trends by Market Segment:

By Type: The US digital forensics market is segmented by type into Computer Forensics, Network Forensics, Mobile Device forensics and Cloud forensics. The dominant segment is computer forensics in 2022. The major factors for dominance is the advancements in technologies have intensified the sophistication of attacks on digital devices, such as computers and laptops.
Increased organizational spending on improving information technology for computer and network security is anticipated to drive the segment’s growth over the forecast period. These reasons are the major factors, which are driving the domination of the segment in the market.

By End user applications: By the segmentation of end user are Government and defense, BFSI, Telecom and IT, Retail, Healthcare and others.
The government segment dominated the end-user segment in 2022. This supremacy can be ascribed to the growing usage of digital forensics solutions in judicial systems. The government industry is the sector that is most susceptible to being targeted by cybercriminals.

The Texas Department of Information Resources (DIR) said in August 2019 that 23 government institutions in Texas were victims of a cyberattack. The government agencies are currently focusing their attention on adopting solutions and services related to digital forensics in order to cope with incidents of this nature.

By Geography: US Digital forensics market is segmented by regions into east, west, north and south region of United States.
The East region dominates the market as major cities like Washington DC, San Francisco California, New York City are the major consumer for this market.

Government initiatives and regulations related to cybersecurity and digital investigations also play a role. The presence of federal agencies and regulatory bodies in the East region, such as the FBI and the Department of Homeland Security, has a significant impact on the digital forensic market. These agencies often collaborate with private-sector firms to combat cyber threats, further bolstering the demand for digital forensic services in the region.

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Competitive Landscape:

The competitive landscape of the US digital forensic market is characterized by a mix of established players and innovative startups, all vying for a share of the growing demand for digital investigative and cybersecurity solutions. Leading the pack are renowned companies like Cellebrite, Magnet Forensics, and AccessData, which offer comprehensive digital forensic software and hardware tools used by law enforcement, government agencies, and corporate investigators. These companies have established a strong foothold through their extensive product portfolios and deep industry expertise.

In addition to these established players, the market also showcases a vibrant ecosystem of emerging startups and niche providers. These firms often focus on specialized areas within digital forensics, such as mobile device forensics, cloud data analysis, or cybersecurity consulting. Startups like Oxygen Forensics and ADF Solutions have gained recognition for their innovative approaches and agility in adapting to evolving digital threats.

Moreover, major technology corporations like IBM, Microsoft, and McAfee have expanded their offerings to include digital forensic services and cybersecurity solutions, further intensifying competition. The market’s competitiveness is further fueled by academic institutions conducting research in digital forensics and the increasing importance of certifications for professionals in this field.

Majority of the digital forensics players are catering to end users Government and defense, BFSI, Telecom and IT , Retail, Healthcare and others with Binary Intelligence LLC, Guidance Software Inc. contributing tin the sector.

Recent Developments:

The US financial system has always been a target for foreign cyber adversaries for a considerable period. Based on this phenomenon, the US government recently imposed laws for the private sector to have a dedicated cyber protection team (CPT) to provide surge capacity in the event of an ongoing cyberattack in the form of advanced analysis and network and endpoint forensics.
Fintactics launched Lezaam and signed a joint venture with Aion Digital. RegTech-as-a-Service with all features and capabilities required for digital onboarding and eKYC from journey orchestration.
The US banks, such as Citigroup, Bank of America, JPMorgan Chase, and Wells Fargo, have faced various cyberattacks that led to exposing the customer data. These banks monitor network activities. Such government impositions are, therefore, driving the demand for digital forensics solutions in the region.
Synoptek has deployed the Kandy Unified Communications-as-a-Service (UCaaS) solution for the Global Furniture Group (Global Furniture). In addition, it has acquired Optistar Technology Consultants, the technology services business division of The Vertex Companies, LLC with offices spanning New York, Boston, Denver, and Seattle.

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Future Outlook:

US digital forensics is expected to show increasing and is expected to grow at a CAGR of ~$% from 2022 to 2028 with Government initiatives for digital forensics market development are expected to enhance the forensics services within US.
The proliferation of cyberattacks, including ransomware, data breaches, and hacking incidents, continues to pose a significant threat to organizations and individuals. As cybercrime rates rise, the demand for digital forensics services and expertise is expected to increase.
The rapid evolution of technology, including the Internet of Things (IoT), cloud computing, and mobile devices, has created new challenges for digital forensics. To keep up with these advancements, digital forensic experts will need to develop new tools and techniques, driving growth in the market.
Stricter data protection and privacy regulations, such as GDPR and CCPA, require organizations to maintain robust digital forensics capabilities to investigate and report data breaches. Compliance requirements are expected to drive investment in digital forensics solutions and services.
The COVID-19 pandemic has accelerated the adoption of remote work, leading to an increased reliance on digital communication and collaboration tools. This shift has also created new avenues for cybercriminals, increasing the need for digital forensic investigations into remote incidents.

Key Questions Market Research and Analysis Report

What is the current market size, both in terms of value and volume?

What is the historical growth rate of the market, and what are the projected growth rates for the future?

Who are the major players in the market, and what is their market share?

What are the market trends and dynamics influencing the industry?

What are the key drivers of market growth?

What are the challenges and barriers faced by market participants?

What are the emerging opportunities in the market?

What is the competitive landscape of the market?

What are the consumer preferences, behaviors, and buying patterns within the market?

What is the market segmentation, and how are different market segments performing?

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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)

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