Market Trends of Global Digital Forensic Laboratory as a Service Industry
This section covers the major market trends shaping the Digital Forensic Laboratory as a Service Market according to our research experts:
Network Forensics Is Anticipated to Show Significant Growth During the Forecast Period
Network forensics involves capturing, recording, and analyzing network packets to determine the source of network security attacks. It mainly deals with E-mail and social media investigations, tracking email, and recovering deleted messages from desktops, servers, laptops, websites, and others. It involved database forensics and eDiscovery, monitoring, and data recovery from mainframe and networked database systems.
The security mechanisms, like Wired Equivalent Privacy (WEP) and WiFi Protected Access (WAP), are not sufficiently capable of providing guaranteed security in wireless communication. Major companies and government organizations have been experiencing ransomware attacks from various sources, leading to the loss of information or revenue. For instance,
In November 2022, Vice Society Ransomware has been conducting ransomware and extortion campaigns against the global education sector, particularly in the United States. Such incidents have led to increased use of digital forensic laboratories to track down the sources and take appropriate legal steps to prevent further repetition of such actions. Hence, network forensics is in increasing demand in several organizations. Many companies are implementing SaaS backups that come with an intrusion detection system that safeguards critical data from malicious attacks, whether external or internal. Thus, the growing use of digital forensics labs for various services against cyber-attacks and crimes drives the market growth during the forecast period.
North America is Expected to Hold Largest Market Share
North America is expected to hold the largest market share during the forecast period. The growth is attributed to the rising number of cyber-attacks and stringent government regulations imposed against cybercrimes. The United States government imposed a law for the private sector to have a dedicated cyber protection team (CPT) sector to provide surge capacity in the event of an ongoing cyberattack in the form of advanced analysis and network and endpoint forensics.
The HSI Forensic Laboratory provides a wide range of document and latent print-related forensic, intelligence, and investigative support services for HSI, ICE, DHS, and many other United States and foreign law enforcement agencies. For instance, in July 2021, Paraben Corporation (a United States-based company) launched the 'E3 Forensic Platform' 3.0 version for data investigations and digital evidence. The new edition enabled a unified study of digital data from a variety of sources, including smartphones, computers, the Internet of Things, and the cloud. Thus, technological advancements in the forensics department and the rising number of cybercrimes and advanced theft mechanisms are anticipated to drive market growth during the forecast period.
