Forensics Technology Market Expected to Reach $44.3 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Forensics Technology Market," The forensics technology market was valued at $15.2 billion in 2020, and is estimated to reach $44.3 billion by 2030, growing at a CAGR of 11.2% from 2021 to 2030.

The forensic technologies have been widely used in criminal investigations, owing to various advantages associated such as use of computer forensics in solving cybercrimes. Forensic technologies include the DNA testing, biometric devices, digital forensics, and ballistic forensics. In addition, fingerprint scanning technology is used for investigation through identification of finger and palm lines. DNA identification is an advanced technology used for criminal investigation through DNA structure mapping.
Factors that drive the growth of the forensics technology market size include advancements in forensic technology, an increase in the criminal cases, and improved judicial infrastructure. Factors such as increased incidence of crimes such as murders, robbery and cybercrimes contribute in the forensics technology market growth. For instance, according to data of Statista, in 2020, there were 21,570 reported cases of murder or non-negligent manslaughter in the U.S.
The forensics technology market share is segmented into type and region. On the basis of type, the forensics technology market analysis is mainly divided into services and products. The services are further divided into DNA profiling, fingerprinting analysis, chemical analysis, firearm analysis, and others. The products are further classified as DNA testing, biometric devices, digital forensics, ballistic forensics, and others. The service segment dominated the forensics technology industry market in 2020, and this trend is expected to continue during the forecast period, owing to an increase in crime rate and advancements in forensic science. 
North America accounted for a majority of the global forensics technology market size in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to crime rate and presence of key players for R&D in forensic science in the region. Asia-Pacific is anticipated to witness lucrative growth in the forensics technology industry, owing to an increase in crime rate and government initiatives to control crime in the region.

KEY FINDINGS OF THE STUDY

• On the basis of types, the fingerprinting analysis segment was the highest contributor to the forensics technology market in 2020.
• Region wise, North America garnered the largest revenue share in 2020, whereas Asia is anticipated to grow at the highest CAGR during the forecast period.