STORY OUTLINE
- Synoptek is leading the US Digital forensics market by expanding its footprints in US
- Major acquisitions and ventures by Synoptek
- Key players, which are in the competitive landscape with Synoptek.
- Outlook of Synoptek in US Digital forensics market
1. Synoptek has a leading position in US digital forensics market.
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US Digital forensics is the constantly growing market, which is growing at a CAGR of ~12% during forecast years 2021-2028. Synoptek is one the major key players, which is on constant rise with, respect to the US Digital forensics market. Due to factors like constant expansion and increase in technological features, Synoptek is leading the chart of US digital forensics market. Synoptek’s estimated annual revenue is currently $229.3M per year. Synoptek is being the leader in business and technology consulting, services and management for over two decades, announced that despite 2020 pandemic challenges, it projects an estimated 18 percent YoY recurring revenue growth.
2. Factors driving Synoptek and in turn involving US Digital forensics market
Factors, which are responsible for the growth of the market, are the constant expansion and ventures, which are mainly driving the US Digital forensics market. Synoptek to collaborate with NPWR Group to expand Salesforce connectivity Synoptek is forming a strategic partnership with Orange County-based boutique Salesforce Partner, NPWR Group, enabling Synoptek to expand its Salesforce portfolio.
Synoptek has deployed the Kandy Unified Communications-as-a-Service (UCaaS) solution for the Global Furniture Group (Global Furniture).
In addition, it has acquired Optistar Technology Consultants, the technology services business division of The Vertex Companies, LLC with offices spanning New York, Boston, Denver, and Seattle. The acquisition will be instrumental in expanding Synoptek’s footprint and advancing its capabilities in value-driven managed information technology services, cyber security solutions, digital forensics and software engineering. Synoptek also announced a majority recapitalization with a leading mid-market private equity firm, Quad-C Management, Inc. Quad-C’s experience investing in high-growth service firms like Synoptek will support its growth initiatives and its ability to drive even more substantial business results and digital transformation for its valued customers.
3. Competitive landscape and Outlook of Synoptek in US digital forensics market
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Major companies which are the players in the us digital forensics market are IBM Corporation, Binary Intelligence LLC, Guidance Software Inc., AccessData Group LLC, KL Discovery Inc. Paraben Corporation, FireEye Inc., Log Rhythm Inc. Cisco Systems Inc. Oxygen Forensics Inc. and MSAB Inc. They are major competition of Synoptek in the market.
These companies are also making constant acquisitions and ventures like Mckinney’s private investigation firm, Blackfish Intelligence, expanded its footprint to Dallas and Tarrant counties and opened up a digital forensics lab by adding 13 new members to the team. Offensive Security released Kali Linux 2022.4, the latest version of its widespread penetration testing and digital forensics platform with updated features.
Fintactics launched Lezaam and signed a joint venture with Aion Digital. RegTech-as-a-Service with all features and capabilities required for digital onboarding and eKYC from journey orchestration.
CONCLUSION
US Digital forensics market is ought to be on a constant rise during forecast years 2017-2028. Players like Synoptek is helping in the evolvement by expanding their market. New acquisitions and ventures are helping in excelling its revenue size. The technological advancements in the forensics department and the growth in cybercrimes and advanced theft mechanisms are expected to increase investments in the digital forensics market.