Organizations are increasingly focusing on digitization of data and the sharing of this large
volume of data in an external and internal environment has made organizations susceptible to
cybercrime. Thus, cyber-attack hampers enterprises negatively (in terms of revenue loss and
data breach) as well as the reputation and brand of the company. For instance, according to the
Coherent Market Insights’ analysis, in 2016, number of data breaches was pegged at 1,091 and it
reached to 1,579 by 2017, which witnessed 44.7% growth. Therefore, increasing vulnerabilities
to cyber-attack in organizations has led to increasing adoption of digital forensics solution and
services. Digital forensics solution examines the sensitive information that is stored in a devices.
Furthermore, it also aids in investigating digital devices that stores digital data, examines the
suspect data to determine details such as origin and content, and then utilises this evidence in
the courts. Hence, digital forensics tools are used for resolving the issues related to threats
occurring in the enterprises which in turn helps in propelling digital forensics market growth.
Cloud Forensics will provide the growth opportunity for the digital forensics market
The major factor for fast growth rate of the cloud forensics segment is increasing adoption of
cloud computing by companies globally. Organizations in sectors such as BFSI, retail, and
government are shifting their workload in the cloud for cost-savings, agility, and flexibility, which
has led to increasing susceptibility for cyber-attacks. For instance, according to the CISCO’s
analysis, the global cloud IP traffic is expected to reach 19.5 ZB by the end of 2021, up from 6.0
ZB in 2016. Therefore, demand for cloud forensics is expected to increase along with increase in
shifting of workload to the cloud.
Lack of awareness is one of the key challenges for growth of the market
Lack of awareness among the small and medium enterprises is a major factor hindering growth
of the market. Since, these forensics tools are expensive and time consuming SMEs are reluctant
to adopt, owing to budget constraints. Moreover, SMEs also lack skilled labour, which is another
major factor hindering growth of the market.
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Based on verticals government and defence segment is expected to account for the
largest market share over the forecasted period
On the basis of verticals, government and defense segment is expected to hold the largest
market share during the forecast period. Government and defense vertical is the most
susceptible segment to cyber-attacks. Cyber-attacks on this segment is for political gains,
terrorism, or for regional rivalry. For instance, according to Coherent Market Insights’ analysis, in
2015, the cyber-attacks in government and defense sector was around 7% of global cyber-
attacks in all sectors, which reached to 14% in 2017. Therefore, government agencies are more