The global Forensic Technology market is projected to reach USD 41.92 billion by 2030, growing at a CAGR of 12.28%
Forensic Technology Market is growing owing to the increased crime happening across the globe. Forensic technology is used in the court of law for investigating crimes. There is an increased need for solving crimes with finesse with the help of advanced technologies. Furthermore, there is an increased initiatives being taken by government to help in research and development of forensic technology. There is huge investment being done in the research of finding better ways in forensic technology.
According to recent study of Forensic Technology Market trends there has been a considerable increase in crime rate with number of cases reporting rape, theft, homicide, robbery and murders. The growing number of crimes has led to many unsolved open cases and hence there is a requirement for forensic technology to resolve these cases quickly. With use of forensic science the investigating team can find clues and evidences like identify the fingerprint, DNA, blood samples. These evidences help them in resolving the cases and provide justice. With use of forensic technology the true culprit can be identified and punished as per law. This is another factor influencing the growth of forensic technology market size.
Furthermore, the growth in Forensic Technology Market size is also due to increased investments from different government and private organizations to assist research and development in forensic technology. Alternative lighting, magnetic fingerprinting and integrated ballistics are some of the reasons for forensic technology market.
Segmentation of Forensic Technology Market size is done on the basis of Type, Services, Application and region. Based on type segmentation on the basis of Rapid DNA Analysis, Polymerase Chain Reaction (PCR), Microarrays, Automated Liquid Handling Technology, Next-Generation Sequencing (NGS), and Capillary Electrophoresis. Among these capillary electrophoresis has the largest share in the market owing to its various benefits offered by it like increased resolution and the less risk of contamination, higher speed and easy-to-use techniques. This is also an effective process to quantify and speed up the process. Segmentation with respect to services is divided as DNA Profiling, Chemical Analysis, Biometric Analysis and Firearms Identification. Among these the Chemical analysis contributes maximum to the market share owing to increased usage in the analysis of drug abuse cases and incidents. The DNA profiling is also expected to grow considerably during the forecast period.
Segmentation on the basis of application is done as Pharmacogenetics, Biodefense & Biosurveillance, Judicial/Law Enforcement and Others. The judicial/law enforcement segment contributes maximum to the market share and is projected to grow over the forecast period. Based on location segmentation is done as Laboratory Forensic Technology and Portable Forensic Technology, among these the laboratory forensic technology is contributing the maximum in market share owing to its low cost and ease of usage.
Geographically North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America contributes maximum to the forensic technology market share owing to increased crime rate and this is closely followed by Asia-Pacific region. Key players in the market are Belkasoft, NMS Lab, General Electric Company, Thermo Fisher Scientific Inc., Agilent Technologies and many others.
Forensic Technology Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 41.92 billion|
|Growth Rate||CAGR of 12.28 % during 2020-2030|
|Segment Covered||by Type , Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Agilent Technologies; GE Healthcare; Morpho Group; Thermo Fishe rScientific; Forensic Fluids Laboratories; Eurofins Scientific; SPEX Forensics; LGC Forensics; Neogen Corporation; NMS Labs; Forensic Pathways|
The various segments of global forensic technology market share are:
- DNA Testing
- Biometric Devices
- Digital Forensics
- Ballistic Forensics
- DNA Profiling
- Fingerprinting Analysis
- Drug Analysis
- Firearm Analysis
- Polymerase Chain Reaction (PCR)
- Capillary Electrophoresis
- Next-Generation Sequencing (NGS)
- Rapid DNA Analysis
- Automated Liquid Handling Technology
- Biodefense & Biosurveillance
- Judicial/Law Enforcement
- Laboratory Forensic Technology
- Portable Forensic Technology
- North America
- Asia Pacific
- Latin America
- Middle East and Africa