USD 14.78 billion
Report ID:
SQMIG35J2036 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
153
|Figures:
78
Global Forensic Technologies Market size was valued at USD 14.78 billion in 2019 and is poised to grow from USD 16.61 billion in 2023 to USD 41.92 billion by 2031, growing at a CAGR of 12.28% in the forecast period (2024-2031).
The most significant factor that is driving the global forensic technologies market growth is the rise in crime and the use of advanced technologies to solve complex criminal cases. Rising crime rates globally have compelled law enforcement agencies to increasingly resort to forensic advanced technologies to improve the accuracy, efficiency, and swiftness with which investigations can be conducted. These technologies DNA analysis, digital forensics, and biometric systems are necessities to be able to solve crimes and enforce justice. With an increasing need to combat crime activities that are rising at such a rapid pace, the requirement for forensic technology solutions will grow dramatically. Furthermore, pressure on legal systems to clear backlogs instigates an increasing demand for faster and better forensic solutions. To fill this gap, governments enter into contract agreements with specialized companies providing forensic services, which offers promising opportunities for market participants. Outsourcing ensures prompt results, reduces the burden of work for government organizations, and simplifies case processing. Specifically, this trend promotes growth in the market as additional and additional countries are investing in outside forensic resources and expertise to upgrade criminal justice systems. Moreover, it is envisioned that these barriers would be overcome by future advancements of forensic science and creation of more accurate and reliable technologies, which would support further growth of the forensic technologies industry.
Global Market Size
USD 14.78 billion
Largest Segment
Laboratory Forensic Technology
Fastest Growth
Laboratory Forensic Technology
Growth Rate
12.28% CAGR
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The Global Forensic Technologies market is segmented based on Product, Application, Service, Location, Techniques, and Region. Based on Product the market is segmented into Digital & Computer Forensics, Ballistic Forensics, DNA Testing, Biometrics, Others. Based on Service the market is segmented into Laboratory Forensics (DNA Testing, Drug Testing, Biometrics, Others), Forensic Consulting. Based on Technique the market is segmented into Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next-Generation Sequencing, Rapid DNA Analysis, Automated Liquid Handling Technology, Microarrays, Others. Based on Application the market is segmented into Pharmacogenetics, Biodefense & Bio-Surveillance, Judicial and Law Enforcement, Others. Based on Location the market is segmented into Laboratory Forensic Technology, Portable Forensic Technology. Based on region the global Forensic Technologies market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Location
The largest forensic technologies market share of 70.3% is held by laboratory-based forensic technology in 2022. It is due to advanced equipment for testing. These tools are fundamental to conducting forensic investigations because they enable detailed analysis with results that tend to be very accurate. To preserve the integrity of forensic labs, some standards and regulations have been established ensuring tests are conducted validly and uniformly. In addition, laboratory equipment is increasingly used by forensic experts globally because it is cheaper than the new specialized technology. Forensic science still employs much of the laboratory-based technology due to the ability of processing and analyzing many samples at one time.
However, as per the forensic technologies market forecast, the portable forensics technology category is expected to grow at the fastest rate with an expected CAGR of 10.8% over the forecast period. Portable instruments including testing kits and handheld analyzers are becoming more popular as ever more field investigations revolve around ease and effectiveness in on-site operations. These kits are particularly useful to identify causes of traffic road accidents and for in vivo testing of drug or alcohol intoxication, saving transportation time to forensic labs. Other than hastening the investigation process, portable testing solutions also minimize the burden on the workload of forensic labs which eventually benefits in solving more criminal cases. Their increasing usage reflects the fact that there is a growing demand for immediate, on-site forensic analysis.
Analysis By Application
The judicial/law enforcement segment dominated the market in 2022, with 35.5%. The main reason behind the increase is that government agencies across the globe are continuously operating to create DNA databases. DNA Identification Act of 1994 given the rights to the FBI to form a national DNA database, which helps in solving backlog criminal cases; as a result, a wide range of varied forensic applications is used in the administration of justice in the United States. Recent court applications are largely because of the advent of several other techniques that not only help lab professionals generate information from DNA samples more efficiently and effectively but also at a much-reduced cost. For instance, the latest technology can actually produce DNA profiles from swabs within 90 minutes.
Based on the forensic technologies market analysis, growth in the pharmacogenetics segment is highly predicted. It is expected to be a result of lowering the backlog of cases and increasing demands for criminal investigation. Most of the study relies on bones, teeth, skin and hair samples, tissues, blood samples, and fingerprints which were obtained from the crime scene. Apart from this, new and technologically advanced products along with a few conferences and symposiums focusing on the application of these technologies in DNA analysis, shall lead to the whole market expanding. DNA analysis is a very powerful investigative tool, and AI and machine learning techniques will improve the accuracy and pace of the test results in forensic analyses. This may lead to the market gaining further without a downturn due to the increasing adoption of increasingly effective and affordable forensic technology.
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As the number of criminal cases rises and forensic analysis usage to solve them increases, North America held the largest market share in 2022, accounting for 35.21%. Companies in commerce and the law enforcement agencies in this region are continuously improving their use of forensic services across various industries, such as health care, which uses forensic technologies in public health safety and medical investigations. Advances in forensic procedures remained under continuous development and have improved the precision and efficiency of investigations, thereby expanding further for the market. The region's highly developed healthcare system not only accelerates case resolutions but also enables more effective forensic analysis. Increased demand for forensic services coupled with technological improvement are expected to maintain North America's leadership.
Contrarily, Asia-Pacific is expected to grow at the fastest rate within the forensic technologies industry, with a compound annual growth rate (CAGR) of 11.5% during the forecast period. A growing understanding of the advantages and uses of forensic technology in criminal justice and law enforcement domains is the reason behind this rapid expansion. Growth in demand for security and forensic technology for crime solving is what drives market growth as governments and corporate organizations come to realize the value of such technology. In addition, increasing need for forensic analytics in the region is driven by international services such as Berkeley Research Group (BRG) which reached Singapore in 2020.
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Forensic Technologies Market Driver
Rising Crime Rate
Advancements in Technology
Forensic Technologies Market Restraints
Expensive Forensic Equipment
Interoperability and Integration Challenges
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Major competitors in the global forensic technologies market are enhancing their positions by forging mergers and acquisitions and research collaboration with other companies to provide novel products and strengthen their market presence globally. The company expanded its product offerings and thus entered new fields of research and development into environmental testing, clinical research, forensic toxicology, and peptide quantification. Significant strategies are in place by the market leaders to maintain an aggressively competitive market.
Forensic Technologies Market Top Player's Company Profiles
Forensic Technologies Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the forensic technologies industry is increasing enormously due to various reasons such as a higher crime rate, advancement in technology, and the need for timely and accurate investigations. Innovative technologies such as DNA analyzers, digital forensics, and AI-driven solutions improve the efficacy of forensic procedures in the legal, medical, and law enforcement domains. However, barriers such as cost in expensive high-tech equipment and concern with the outcomes of some technologies regarding precision and reliability may limit further development. However, the industry is constantly finding innovation, with portable forensic devices and AI inclusion in the analysis, which thus makes analysis faster and efficient. Overall, the prognosis for the forensic technologies market is, therefore, going to be positive, as demand increases, and technology continues to advance.
Report Metric | Details |
---|---|
Market size value in 2019 | USD 14.78 billion |
Market size value in 2031 | USD 41.92 billion |
Growth Rate | 12.28% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Forensic Technologies Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Forensic Technologies Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Forensic Technologies Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Forensic Technologies Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35J2036
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