APAC Digital Forensics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.87 Billion |
| Market Size (2029) | USD 1.65 Billion |
| CAGR (2024 - 2029) | 13.91 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Digital Forensics Market Analysis
The Asia Pacific Digital Forensics Market size is estimated at USD 0.87 billion in 2024, and is expected to reach USD 1.65 billion by 2029, growing at a CAGR of 13.91% during the forecast period (2024-2029).
Banks across the Asia-Pacific region plan to increase their cloud spending, and 93% of banks in the region anticipate reaching an inflection point and utilizing hybrid and multi-cloud infrastructures by 2023. Adopting cloud solutions by these BFSIs will create a demand for cyber security measures, which will increase investments in digital forensics.
- Many cyber risks are rapidly targeting Thai businesses. According to a report shared by Hi-Tech Crime Trends, with 27 victim organizations whose data was exposed on ransomware-specialized leak sites, Thailand ranked fifth in the Asia Pacific region. Group-IB's Digital Crime Resistance Centre in Thailand was established to counter this increasing number of cyber attacks. Group-IB's highly skilled digital forensics and incident response experts helped decrypt a medical organization's network in Thailand.
- Since the Covid-19 outbreak, there has been a significant increase in cyber crime attacks. Federal Bureau of Investigation (FBI) recorded a 400% increase in cyber crimes during the pandemic. With increasing digital activities, cybercrimes in the cloud environment are growing, and to detect these frauds, digital forensics was adopted.
APAC Digital Forensics Market Trends
Growing Cybercrimes and Security Concerns Across Industries to Drive the Market
- The instances of cyber crimes have increased drastically over time. According to cyber security firm CloudSEK, Asia Pacific was one of the top targets of cyber crimes, and the number of attacks increased by 26.4% in 2022. Ransome attacks increased during 2022 with the emergence of new ransomware operators.
- A report released by IBM depicted 48% of the cases of attacks were from the manufacturing sector, while the finance and insurance sector share was 18%. Attackers used spear phishing by attaching to the target; nearly 40% of such cases were observed. Due to its low tolerance for downtime, the manufacturing sector was an easy target for attackers.
- IT companies are enhancing their tool and infrastructure to manage these cyber security issues. In May 2022, Cisco launched a cybersecurity assessment tool for small and medium-sized businesses (SMBs) in the Asia Pacific to identify and analyze their overall security posture. User and Identity, Device, Networks, Workload (applications), Data, and Security Operations will be accessed using this new tool. This will help SMBs looking to transform their business from traditional infrastructure to digital platforms.
- Public security entities in China use US technology like DNA analysis, thermal imaging, digital forensics, and cyber security to monitor groups and censor material in the country. This technology could help build population databases and carry out mass surveillance.
- Financial crime has always been a concern in Malaysia, which has resulted in high demand for legal forensics. CyberSecurity Malaysia received over 7,000 reports involving cyber security incidents in Malaysia. To control cyber attacks government intends to set up the Malaysian Cyber Security Commission to strengthen cyber security in the country.
Mobile Forensic Segment to Witness High Market Growth
- Accelerating mobile subscriptions creates a demand for e-commerce, banking, retail, and other services in every sector. As vast data is generated through mobile phone transactions, it threatens cyber security. In January 2023, hackers stole over 3,000 login credentials from Fortune 500 organizations and significant IT firms after infiltrating two sizable data centers in Asia. Shanghai-based GDS Holdings and Singapore-based ST Telemedia Global Data Centers (STT GDC) operated the breached data centers. Thus customers were forced to change their login credentials.
- In another phishing attack, a group of Shangri-La hotels was hit by a data breach. Including Singapore and Hong Kong, six other branches in the Asia region were affected by this attack. The hackers stole the guests' names, e-mail addresses, and phone numbers. A Cyber forensic team was hired, which investigated and revealed that the e-mail was used to attack the hotel's IT security monitoring systems.
- Australia was yet another country that became the prey of these cyber attacks. In Oct 2022, Medibank, the health service provider, suffered a data breach where records of 9.7 million citizens were affected. After this incident, the health company instructed its members not to download sensitive personal data from the dark web unnecessarily and to refrain from contacting customers directly.
- Nearly every smartphone app collects data from a customer's device. If those servers are hacked, or a technical error leaves them vulnerable, all that data can be stolen and used by criminals for fraud. Therefore users need to set security controls to limit the data collected by each app or before downloading any new app that requests a lot of permissions.
APAC Digital Forensics Industry Overview
There is moderate competition in the Asia Pacific Digital Forensics Market. Still, the demand will grow as law firms adopt AI-based solutions to control crime during the study period. The vendors involved in this business continuously introduce new product features, seeking collaborations to withstand competition and maintain their brand reputation.
- April 2023 - Wavesys Global, a security solution company, launched Video Content Analytics with Forsenic Service Feature. The tool uses object metadata to create an appearance search and also has filters to change the search criteria. It records metadata and uses snapshots from existing onsite cameras without post-processing, reducing the forensic evidence search time.
- March 2023 - Singapore based cybersecurity company Group-IB signed a deal with Thailand's cybersecurity provider nForce. nForce will form the first Incident Response (IR) team, where Group IB will provide training and dedicated support to them. The team at Group-IB employs cutting-edge technology driven by threat intelligence, and they have a track record of successfully researching and resolving complicated cybercrime cases. This partnership will thus help nForce to improve coverage of the Thai market and assist local companies in dealing with ever-evolving cyber threats.
APAC Digital Forensics Market Leaders
-
Paraben Corporation
-
FireEye Inc.
-
MSAB Inc.
-
IBM Corporation
-
Cisco Systems Inc.
*Disclaimer: Major Players sorted in no particular order
APAC Digital Forensics Market News
- March 2023 - iAcuity Fintech helps in the investigation of financial frauds, and the company recently introduced "Fund Trail," an advanced crime intelligence automated analytics solution for financial investigations. The solution uses AI and big data technology to support forensic auditors, law enforcement agencies, tax authorities, regulators, and financial institutions' ineffective investigations.
- February 2023 - The mobile digital forensics solutions company Grayshift LLC. launched ArtifactIQ, a cloud-native multi-tenant analytics solution for digital forensic investigations. The solution also has access to one of the largest datasets of Child Exploitation or Child Sexual Abuse Material (CSAM), where it can mask and match images with this dataset before sharing with the investigatory team.
APAC Digital Forensics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Technology Snapshot
4.4 Assessment of the Impact of COVID-19 on the Industry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Adoption of IoT Devices Driving Demand for Digital Forensics Solutions and Services
5.1.2 Growing Cybercrimes and Security Concerns across Industries
5.2 Market Challenges
5.2.1 Lack of Skilled Professionals and Preplanning among Organizations
6. MARKET SEGMENTATION
6.1 Component
6.1.1 Hardware
6.1.2 Software
6.1.3 Services
6.2 Type
6.2.1 Mobile Forensics
6.2.2 Computer Forensics
6.2.3 Network Forensics
6.2.4 Other Types
6.3 End-User Vertical
6.3.1 Government and Law Enforcement Agencies
6.3.2 BFSI
6.3.3 IT and Telecom
6.3.4 Other End-user Verticals
6.4 By Country
6.4.1 India
6.4.2 China
6.4.3 Japan
6.4.4 South Korea
6.4.5 Rest of Asia Pacific
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 Cisco Systems Inc.
7.1.3 SecureWorks, Inc.
7.1.4 Guidance Software Inc. (Opentext)
7.1.5 Network Intelligence, Inc.
7.1.6 Paraben Corporation
7.1.7 FireEye Inc.
7.1.8 MSAB Inc.
7.1.9 LogRhythm Inc.
7.1.10 Oxygen Forensics Inc.
- *List Not Exhaustive
8. FUTURE OUTLOOK
9. INVESTMENT ANALYSIS
APAC Digital Forensics Industry Segmentation
Digital Forensics is a sub-field of forensic science that focuses on obtaining, processing, analyzing, and documenting electronically recorded data found in digital devices. This digital data forms the basis of law investigations and creates a source of evidence in a court of law. The investigative forensic team uses the best techniques and tools to solve complicated digital-related cases. Nowadays, even commercial organizations are adopting digital forensics to solve issues related to fraud investigations, employment disputes, problems with regulatory compliance, and bankruptcy investigations.
The Asia Pacific digital forensics market is segmented by component (hardware, software, services), type (mobile forensics, computer forensics, network forensics), and end-user vertical (government and law enforcement agencies. BFSI, IT, and telecom). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| Component | |
| Hardware | |
| Software | |
| Services |
| Type | |
| Mobile Forensics | |
| Computer Forensics | |
| Network Forensics | |
| Other Types |
| End-User Vertical | |
| Government and Law Enforcement Agencies | |
| BFSI | |
| IT and Telecom | |
| Other End-user Verticals |
| By Country | |
| India | |
| China | |
| Japan | |
| South Korea | |
| Rest of Asia Pacific |
APAC Digital Forensics Market Research FAQs
How big is the Asia Pacific Digital Forensics Market?
The Asia Pacific Digital Forensics Market size is expected to reach USD 0.87 billion in 2024 and grow at a CAGR of 13.91% to reach USD 1.65 billion by 2029.
What is the current Asia Pacific Digital Forensics Market size?
In 2024, the Asia Pacific Digital Forensics Market size is expected to reach USD 0.87 billion.
Who are the key players in Asia Pacific Digital Forensics Market?
Paraben Corporation, FireEye Inc., MSAB Inc., IBM Corporation and Cisco Systems Inc. are the major companies operating in the Asia Pacific Digital Forensics Market.
What years does this Asia Pacific Digital Forensics Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Digital Forensics Market size was estimated at USD 0.75 billion. The report covers the Asia Pacific Digital Forensics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Digital Forensics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Digital Forensics Industry Report
Statistics for the 2024 Asia-Pacific Digital Forensics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Digital Forensics analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
