Forensics Technology Market

Forensics Technology Market Research, 2030

The global forensics technology market was valued at $15.2 billion in 2020, and is projected to reach $44.3 billion by 2030, growing at a CAGR of 11.2% from 2021 to 2030. Forensic technologies are used to process samples and evidence for crime investigation and prosecutions. Various technologies are used in different fields of forensic science such as scanning electron microscopy, DNA fingerprinting, alternative light photography, facial reconstruction, and LA-ICP-MS to conduct investigations and examine the evidence. These technologies provide effective and reliable results for solving various types of cases such as missing person investigation, disaster victim identification, paternity testing, and others.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global forensic technology market in the near future. The COVID-19 pandemic had led to the lockdown in various countries around the world, and people were stuck in their home, which led to decline in criminal cases across the globe. In addition, most of the investigations on criminal cases were either postponed or halted due to the stringent social distancing restrictions imposed by the government during the pandemic. However, because of the travel restrictions and lockdown, the supply chain was severely impacted, since production was halted. Furthermore, owing to the outbreak of COVID-19, most markets are experiencing a decline in demand, especially in the forensic technology market. However, increasing vaccination rates is expected to bring stabilization of the market.

The growth of the global forensics technology market is majorly driven by factors such as increase in crime rates and involvement of advanced technologies to solve criminal cases. For instance, according to record of Statista, in 2020, there were over 746 thousand crimes recorded in London. Thus forensics technology market forecast is expected to show greater increase due to growth in crime rates.

Furthermore, mounting pressure to clear backlog cases on the judicial system and outsourcing of case results by government of various countries present lucrative opportunities to market players offering forensic services thus driving the forensics technology industry. However, lack of accuracy of these technologies hampers the growth of the forensics technology market.

Moreover, advancement in forensic science and new technology launch in market is anticipated to contribute toward the growth of the forensics technology industry market. For instance, in November, 2020, Agilent Technologies Inc., a leading manufacturer of forensic technologies, launched new nanodis system for nanoparticle dissolution testing. However, lack of accuracy of these technologies restricted the market growth during the forecast period.

Global Forensics Technology Market Segmentation

The forensics technology market is segmented on the basis of type, and region. By type, the market is mainly categorized into services and products.

Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).

Segment Review

Depending on type, the fingerprinting analysis segment dominated the forensics technology market size market in 2020, and this trend is expected to continue during the forecast period, owing to surge in crime rates. However, the DNA testing segment is expected to witness considerable growth during the forecast period, owing to advancements in forensics technology market opportunity in the near future.

North America garnered the major forensics technology market size in 2020, and is expected to continue to dominate during the forecast period, owing to presence of key players for manufacturing &and well-established judicial infrastructure in the region. However, Asia-Pacific is expected to have one of the high forensics technology market share register the highest CAGR of 12.4% from 2021 to 2030, owing to an increase in criminal cases.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forensics technology market analysis from 2020 to 2030 to identify the prevailing forensics technology market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the forensics technology market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global forensics technology market trends, key players, market segments, application areas, and market growth strategies.

 Forensics Technology Market Report Highlights