Global Digital Forensic Laboratory as a Service Market Size

Digital Forensic Laboratory as a Service Market Analysis

The digital forensic laboratory as a service market is expected to grow with a CAGR of over 10% during the forecast period.

• The growing use of Internet of Things (IoT) devices coupled with factors such as stringent government regulations and rising cyber-attacks on various companies are expected to drive the demand for digital forensics services during the forecast period.
• Digital forensics laboratory provides on and offsite data gathering, storage, processing, and analysis solutions and services supporting litigation, investigation, cybersecurity, and intelligence community requirements.
• The growing adoption of digital forensics is due to the advancements in the traditional crime lab infrastructure, increasing penetration in corporate sectors, and the rise in cyber-attacks and crimes. For instance, according to the Internet Crime Complaint Center (ICC) and Federal Bureau of Investigation (FBI), in 2020, 43,300 cases of online identity theft were reported to the IC3. Phishing and similar fraud ranked first, with 241,342 complaints.
• Additionally, digital forensic laboratories provide numerous services such as mobile technology, intellectual property theft, authentication of files, IT control and audit, tracing mail, and others. The increase in cloud computing applications providing access to files and other data from anywhere has made work collaboration for different teams from different locations simpler for companies. Therefore, if more devices are connected to an enterprise, more sources would be available for hackers to intrude into the enterprise networks. Thus, the growing demand for advanced forensic services against cyber-attacks drives the market growth.