Digital Forensics Spending Expected to Double by 2021
Cybercrime. Terrorism. Insider Theft.
These are three reasons why digital forensics spending is expected to more than double from just over $2 billion in 2014 to nearly $5 billion in 2021.
According to the Transparency Market Research study, the “ability to recover complex data from electronic devices, fingerprint recovery from metals and DNA profiling” are driving market growth. The report says costs are going down as a result of new technologies even as insider theft and cybercrime are increasing.
Law enforcement is, naturally, leading the digital forensics boom, but other industries such as banking, IT and national defense sectors will also continue to drive the need for this service over the coming years.
For today’s enterprises, digital forensics is extremely valuable, if not essential, in situations involving intellectual property and trade secret theft, insider threat activities, employee “misbehavior,” intrusions, and system compromises. Without an extensive forensic analysis, you are likely blind to these essential details.
And what technology is most driving this growth? Mobile devices, of course. Technologies for mobile computing are advancing comparatively faster than other electronic devices.
Because mobile devices are far more personal than other forms of electronic communications, they will continue to be the biggest targets of cyber criminals.
In Three Things to Know about Mobile Devices, we explain the explosion in growth in both the number of these devices and in the amount of personal information on them – personal information a cybercriminal wants.
For businesses, in general, digital forensics helps companies analyze the misuse of corporate data by:
- Identifying unauthorized access by employees
- Identifying intellectual property theft, including copying and transporting company data onto external devices
- Identifying fraud
- Recovery of deleted files and file carving
The report finishes by explaining that developments in digital forensic research and digital forensic tools will lead to more efficient and better-coordinated detection, analysis and presentation of data in courts of law and to decision makers.