Forensic Technologies Market Size, Share, Growth Analysis, By Product(Digital & Computer Forensics, Ballistic Forensics, DNA Testing, Biometrics), By Application(Pharmacogenetics, Biodefense & Bio-Surveillance, Judicial, Law Enforcement), By Service(Laboratory Forensics (DNA Testing, Drug Testing, Biometrics, Others)), By Technique(Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next-Generation Sequencing, Rapid DNA Analysis), By Location(Laboratory Forensic Technology, Portable Forensic Technology), By Region - Industry Forecast 2024-2031

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.