Organizations are heavily competing in today’s fast paced world of technology. Examining digital media is at the core importance of any organization in order to decrease cyber-attacks and cybercrime. Digital forensics ensures investigating, recovering, and interpretation of electronic data found in digital devices. It uncovers digital and electronic data to preserve evidence in its original form by reconstructing past events. This affirms data recovery, analyses computer systems, and gathers information and evidence with the utilization of digital information. It enables identification, recovery, analysis, presentation, preservation, interpretation, and documentation of digital evidence. Digital forensics is used to investigate computer crime and is legally admissible. The market is expected to grow at a CAGR of 11% over the forecast period.
Implementation of Internet of Things (IoT) leads to longing safety, efficiency, comfort, better decision marking, assistance in revenue generation, quality control, along with packaging, logistics, and supply chain optimization, plant safety and security, inventory management, production flow monitoring, and facility management. Organization are anticipating the adoption of above mentioned features to ensure efficient and smooth business processes related to digital forensics. Hence, increasing demand for implementation of IoT is one of the factors fuelling the growth of the digital forensics market over the assessment period. However, besides the propelling factors such as increasing cyber-attacks and cybercrime and growing popularity of connected devices, encryption is considered to be a major roadblock in the digital forensics market during the forecast period.
Industry News
May 2018, AccessData Group, a provider of integrated digital forensics released a new version of their software tool the AD Enterprise 6.5. This tool enhances post-breach capabilities and memory analysis to manage internal forensics and investigation. The tool offers deeper visibility to investigate organizational data by managing large-scale forensic investigations and is a single solution to improve the robust organizational software.
May 2018, Oxygen Forensics, a provider and developer of advanced forensic data unveiled a new method of decrypting WhatsApp data. The company launched Oxygen Forensic Detective 10.2, a software solution which decrypts WhatsApp backups on smart devices. This software is a method which doesn’t leave any digital trace and acquires undelivered messages and calls from the server. This allows investigators to solve crimes conveniently.
Key Players
The prominent key vendors in the digital forensics market are SecureWorks Inc. (U.S.), Guardian Digital Forensics (U.S.), CYFOR (U.K.), AccessData (U.S.), Perkinelmer, Inc., (U.S.), Guidance Software, Inc. (U.S.), FireEye, Inc. (U.S.), MSAB (Sweden), Stroz Friedberg LLC (U.S.), FRONTEO Inc. (Japan) and many others. Mergers and acquisitions are a common strategy used by these players to increase their market share.
In May 2018, PerkinElmer, an American multinational corporation that deals with business areas of human and environmental health, acquired Shanghai Spectrum Instruments Co. Ltd., prominent manufacturers of analytical instruments in China. The acquisition is a shrewd move that helps PerkinElmer build upon their China base through Shanghai Spectrum Instruments Co. Ltd.’s sturdy, localized market position while also solidifying PerkinElmer’s management in Atomic atomic Absorption absorption technologies.
Stroz Friedberg, a digital forensics firm, was hired by Facebook in March 2018 to determine whetherinvestigate the role of Cambridge Analytica, the analytics company it banned from its platform, still possesses any Facebook user data. Stroz Friedberg LLC has been hired in the past by Uber as well. The strategy adopted by Stroz Friedberg is that of network building. Building a strong network helps maintain the brand’s authenticity, accessibility, and accessibility. Strengthening the customer base in the market helps gain more potential buyers which in turn strengthen the company’s position in the market.
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