Market Size of North America Digital Forensics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Digital Forensics Market Analysis
The North America Digital Forensics Market is anticipated to register a CAGR of 8.9% over the forecast period (2022 -2027). During this situation of the global pandemic, the demand for remote working solutions has seen a surge owing to the organization's transition from their conventional workplace methods to work from home environment. These transitions have to be carefully concerned in the context of the organization's cybersecurity as more and more personal unsecured devices start accessing the organization's network; the risk of compromising network security goes up.
- During this period of significant organizational stress and crisis, newer frauds and misconduct risks have emerged, internal controls are lagging behind the evolving risks, and the need for forensic investigations have been witnessing an increase. The COVID-19 pandemic will require investigation techniques that reflect the new patterns of employee remote working environment and comply with the legal and societal goals such as social distancing and self-isolation.
- Digital forensic enables the extraction of evidence through analysis and evaluation of data from digital devices and is used to recover and inspect the data while maintaining the originality of the same. Identification of duplication of data and spoofing of timings are some of the major challenges for this technology.
- The emergence of computing shaped by the IoT and the rapid increase in the number of mobiles, computers, and other electronic devices across the region are contributing to the demand for digital forensics.
- Technological advancements and law enforcement are some of the other factors impacting the adoption rate of digital forensics in North America. In contrast, factors such as lack of specialized skills, usage of proprietary operating systems, and high level of encryption in new mobile applications may hinder the growth of the market.
- Moreover, the market has been witnessing various mergers and acquisition activities by big players in the market to enhance their product portfolio and expand their reach. For instance, in Aug 2020, Palo Alto Networks, a cybersecurity company, announced that it has entered into a definitive agreement to acquire The Crypsis Group, an incident response, risk management, and digital forensics consulting firm.
