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2022
Forensics Technology Market

Forensics Technology Market

by Type (Services, Products): Global Opportunity Analysis and Industry Forecast, 2020-2030

Report Code: A02038
Pages: 151
Apr 2022 | 15605 Views
Author(s) : Swapna S , Onkar S
Tables: 83
Charts: 42
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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.

Forensics Technology Market, Forensics Technology Market Size, Forensics Technology Market Share, Forensics Technology Market Analysis, Forensics Technology Market Opportunity, Forensics Technology Market Trends, Forensics Technology Market Forecast

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.

Forensics Technology Market
By Type

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Services segment dominated the market and is expected to be lucrative during the forecast period

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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.

Forensics Technology Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

North America dominated the market share, while Asia-Pacific is expected to grow at the highest CAGR

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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

Aspects Details
By Type
  • Services
  • Products
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players 3M COMPANY, Agilent Technologies Inc., Belkasoft, Eurofins Medigenomix Forensik GmbH (Forensic Division of Eurofins Scientific S.E.), GE Healthcare (A healthcare division of GE company), LGC Limited, Morphotrust USA (Safran S.A.), Thermo Fisher Scientific Inc., NMS Labs, Ultra-Electronics Forensic Technology Inc. (Subsidiary of Ultra Electronics Holdings plc.)
 

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This section provides opinions of top-level CXOs in the forensic technology industry. According to CXOs, forensic technology has enhanced diverse fields of life sciences by research, innovation, and development. Forensics technologies are used for the investigation of criminal cases. Their services and products include DNA profiling, fingerprinting analysis, chemical analysis, firearm analysis, and biometric devices.

Accordingly, the CXOs further stated that the forensic technology market has gained momentum, owing to factors such as increase in crime rate, and higher need for solving finesse criminal cases using advanced technologies contribute to the market. In addition, an advancement in forensic sciences expected to drive the growth of the forensics technology market. However, the high inaccuracy of results can hamper the market growth.

North America is expected to witness the highest growth, in terms of revenue, owing to the presence of key players for manufacturing and developing forensic technologies, and increase in criminal cases, in the region. However, Asia-Pacific is anticipated to witness lucrative growth, owing to an increase in criminal cases, advancement of technology and government initiatives to control crime in the region.

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FREQUENTLY ASKED QUESTIONS?

A. The forecast year of forensic technology market is 2021 to 2030

A. increased incidence of crimes such as cybercrimes, harassment against women, and homicides are the upcoming trends of forensics technology market.

A. North America is the largest regional market for forensic technology.

A. The forensics technology market was valued at $15,216.14 million in 2020.

A. 3M Company, Agilent Technologies Inc., Belkasoft, GE Healthcare (A healthcare division of GE Company), Eurofins MedigenomixForensik GmbH (Forensic division of Eurofins Scientific S.E.), LGC Limited, Morphotrust USA (Safran S.A.), NMS Labs, Thermo Fisher Scientific inc., Ultra Electronics Forensic Technology Inc. (Subsidiary of Ultra-Electronics Holdings plc.). are the top companies of the forensic technology market.

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