The South Korea digital forensics market features a wide range of computer forensic products and solutions that are used to retrieve evidence from digital devices which are involved in criminal activities or civil disputes. The market provides services like data collection, evidence analysis, data recovery, reporting and expertise to organizations and law enforcement agencies. The digital forensics products and services help to securely gather, preserve and analyze digital evidence extracted from computers, mobile devices, hard drives and other electronic storage media for investigation purposes.
The South Korea Digital forensics market is estimated to be valued at US$ 231.6 Mn in 2024 and is expected to exhibit a CAGR of 11 % over the forecast period 2024-2031.
Key players operating in the South Korea digital forensics market are AhnLab, FireEye, IBM Corporation., Guidance Software, Inc./OpenTextCorp., FireEye, HancomWITH and Among Others.
Key Takeaways
Key players: Key players operating in the South Korea digital forensics market include AhnLab, FireEye, IBM Corporation., Guidance Software, Inc. and FireEye which together account for major share of the market.
Growing demand: Rising instances of cybercrimes such as hacking, online fraud and data thefts have boosted the demand for digital forensics solutions from law enforcement agencies to investigate cybercrimes.
Technological advancements: Continuous advancement in digital forensic tools such as portable forensic workstations, mobile device forensic tools, and cloud/network forensic tools have strengthened market growth.
Market Trends
BYOD trend increase data security risk - Rising bring-your-own-device (BYOD) trend has increased vulnerabilities and risks of data thefts. This is driving demand for robust digital forensics solutions.
Growing cloud forensics - Increasing dependence of organizations on cloud computing is shifting focus towards cloud forensics to securely extract and analyze forensic data from public and private clouds.
Market Opportunities
Growth in IoT/connected devices - Proliferation of IoT and connected devices poses new challenges for digital forensics. Solutions supporting forensic analysis of IoT data present lucrative growth prospects.
Increasing investments in research & development - Growing budget allocation by leading players as well as government towards development of more advanced digital forensics technologies will further support market expansion.
Impact of COVID-19 on South Korea Digital Forensics Market Growth
The COVID-19 pandemic has significantly impacted the growth of South Korea digital forensics market. The spread of the virus led to nationwide lockdowns and work from home practices which increased the instances of cybercrimes like hacking, phishing scams, ransomware attacks etc. This fueled the need for robust digital forensics solutions to investigate cyber crimes and identify the source of attacks. Various government organizations and law enforcement agencies increased their spending on digital forensics tools and services to monitor increased online activities and ensure cyber security.
Pre-COVID, the market was growing at a moderate pace driven by increasing adoption of digital devices and rise in cyber threats. However, post-COVID, the demand experienced a strong growth trajectory. More organizations shifts towards digital transformation and cloud computing during pandemic which increased the risk of data breaches and cyberattacks. Enterprises invested heavily in next-gen digital forensics solutions with advanced forensic analysis, data recovery, network investigation and remote forensic capabilities to strengthen their cybersecurity infrastructure. Remote investigation of devices became crucial during lockdowns which drove innovations in mobile and cloud forensics. The market is expected to continue its high growth in the forecast period with greater focus on zero-trust security, blockchain forensics and computer forensics as new digital technologies emerge.
South Korea Digital Forensics Market Value Share: Regions
In terms of value, Seoul holds the largest share of over 30% in South Korea digital forensics market. It is the economic and political hub of the country with strong presence of enterprises, government agencies and law enforcement organizations which are major end-users of digital forensics solutions. Busan is the second largest regional market with share of around 15% due to growing IT sector and port-based businesses. Other high growth regions include Daegu, Incheon and Daejeon driven by increasing investments in digital transformation initiatives across industries.
Fastest Growing Region: Gyeonggi Province
Gyeonggi province surrounding capital Seoul is emerging as the fastest growing region in South Korea digital forensics market. It accounts for over 20% share currently. The region is an industrial hub with large manufacturing and export-based companies rapidly adopting smart technologies. It also has emerging startup culture in Pangyo and other areas driving innovations. Furthermore, provincial government's focus on developing IT infrastructure and promoting research & development activities in cyber security field has propelled the demand and positioning Gyeonggi as the fastest growing regional marketgoing forward.
Get more insights on this topic: https://www.trendingwebwire.com/south-korea-digital-forensics-market-poised-to-expand-at-an-impressive-rate-due-to-growing-digitalization/
About Author:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. (LinkedIn - https://www.linkedin.com/in/priya-pandey-8417a8173/)
What Are The Key Data Covered In This South Korea Digital Forensics Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the South Korea Digital Forensics's growth between 2024 and 2031.
:- Accurate calculation of the size of the South Korea Digital Forensics and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- South Korea Digital Forensics Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of South Korea Digital Forensics vendors
FAQ’s
Q.1 What are the main factors influencing the South Korea Digital Forensics?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top South Korea Digital Forensics companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the South Korea Digital Forensics’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Comments
0 comment