Digital forensics plays a vital role in investigating cybercrimes by extracting and analysing digital data from laptops, smartphones, servers and other devices. The market has witnessed significant traction in South Korea owing to the rising number of cybercrimes in the nation. As per reports, South Korea witnessed around 180,000 cybercrime complaints in 2021 alone, reflecting nearly 15% rise from the previous year.
The digital forensics market in South Korea encompasses solutions and services used by law enforcement agencies, government departments and enterprises to perform acquisition, preservation, examination, analysis and reporting of digital data present in digital devices, networks and mediums. Some key advantages of digital forensics include retrieval of deleted files, recovering fragmented data and identifying device users through user patterns. With growing reliance on digital devices and online activity, demand for digital evidence from these devices has increased considerably in the nation.
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 Takeaways
Key players operating in the South Korea digital forensics market are AhnLab, FireEye, IBM Corporation., Guidance Software, Inc./OpenTextCorp., FireEye, Hancom and Among Others. These players are focusing on developing innovative solutions and services to handle complex cybercrime investigations.
Some notable opportunities in the market include growing demand from SMEs and implementation of cloud-based digital forensics solutions. The adoption of digital investigation tools is also rising across verticals like BFSI, government, healthcare and telecommunications.
With cyber threats evolving constantly, South Korean firms are also expanding globally to address the increasing needs of international law enforcement agencies and other organizations. Notable acquisitions and partnerships have been witnessed in recent years to strengthen market presence overseas.
Market Drivers
Rise in the number of cybercrimes is a major market driver. According to official data, South Korea reported around 180,000 cybercrime complaints in 2021 alone, highlighting growing reliance on digital technologies and platforms. This has prompted law enforcement agencies and enterprises to significantly invest in digital forensics capabilities.
Market Restraints
High costs associated with digital forensics solutions and services is a key market challenge. This restricts adoption, especially among SMEs with limited security budgets. Lack of skilled cyber security professionals is another hurdle that needs to be addressed.
Segment Analysis
The South Korea digital forensics market is segmented into services and hardware. Services segment dominates the market owing to the increasing number of cybercrimes in the country. Services segment provides facilities like data acquisition and preservation, cloud and mobile device forensics, forensic data analysis and reporting and consulting and advisory services which help in solving cybercrimes.
Global Analysis
Regionally, the South Korea digital forensics market will be dominated by South Korea. This is due to a large number of cybercriminal activities happening in the country coupled with stringent cybersecurity laws and regulations. The government is investing heavily to curb increasing cybercrimes. This ensures high adoption of digital forensics solutions and services among law enforcement agencies and enterprises. For instance, the cyber security strategy of South Korea focuses on establishing cyber investigation infrastructure and workforce to deal with advanced cyber threats. Additionally, growing penetration of IoT and mobile devices has increased vulnerabilities making South Korea prone to cyberattacks, thus driving the need for digital forensics.
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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