Global Forensic Technology Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Type;

Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next-Generation Sequencing, Rapid DNA Analysis, Automated Liquid Handling Technology, Microarrays and Others.

By Services;

DNA Profiling, Chemical Analysis, Biometric Analysis, Firearms Identification and Others.

By Application;

Pharmacogenetics, Biodefense & Biosurveillance, Judical/Law Enforcement and Others.

By Location;

Laboratory Forensic Technology and Portable Forensic Technology.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn787519164 Published Date: April, 2024 Updated Date: May, 2024

Introduction

Global Forensic Technology Market (USD Million), 2020 - 2030

In the year 2023, the Global Forensic Technology Market was valued at USD 12,199.09 million. The size of this market is expected to increase to USD 22,806.51 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 9.4%.

The global forensic technology market has experienced substantial growth in recent years, driven by increasing instances of crime and the need for advanced investigative techniques. Forensic technology encompasses a wide range of tools and methodologies utilized in crime investigation, including DNA analysis, fingerprint identification, digital forensics, and forensic accounting, among others. These technologies play a crucial role in helping law enforcement agencies and forensic laboratories to solve crimes, identify perpetrators, and ensure justice is served.

One significant factor contributing to the growth of the forensic technology market is the rising adoption of advanced forensic solutions by law enforcement agencies worldwide. With the evolution of forensic techniques and the advent of sophisticated technologies such as next-generation sequencing, facial recognition software, and artificial intelligence, investigators can now extract valuable evidence from crime scenes more efficiently and accurately than ever before. This increased effectiveness in crime solving has fueled the demand for forensic technology across various sectors, including government, law enforcement, and private enterprises.

The growing awareness of the importance of forensic evidence in legal proceedings has led to increased investments in forensic laboratories and research and development activities. Governments and law enforcement agencies are allocating significant budgets for the procurement of cutting-edge forensic technologies to enhance their investigative capabilities. Additionally, the expansion of forensic services in emerging economies and the increasing collaborations between forensic laboratories and academic institutions are further driving the growth of the global forensic technology market.

Despite the positive growth prospects, the forensic technology market faces challenges such as high costs associated with advanced forensic equipment and the complexity of integrating disparate forensic technologies into existing investigative workflows. Furthermore, concerns regarding data privacy and ethical considerations surrounding the use of forensic technologies continue to be areas of contention. Nevertheless, ongoing advancements in forensic science, coupled with increasing collaborations between industry players and research institutions, are expected to drive further innovation and growth in the global forensic technology market in the coming years.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Services
    3. Market Snapshot, By Application
    4. Market Snapshot, By Location
    5. Market Snapshot, By Region
  4. Global Forensic Technology Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Digitalization
        2. Regulatory Compliance
        3. Cybercrime Increase
        4. Technological Advancements
      2. Restraints
        1. Privacy Concerns
        2. High Costs
        3. Lack of Skilled Workforce
        4. Data Security Challenges
      3. Opportunities
        1. Cloud Integration
        2. AI and Machine Learning
        3. Cross-Industry Collaboration
        4. Emerging Market Expansion
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Forensic Technology Market, By Type, 2020 - 2030 (USD Million)
      1. Polymerase Chain Reaction (PCR)
      2. Capillary Electrophoresis
      3. Next-Generation Sequencing
      4. Rapid DNA Analysis
      5. Automated Liquid Handling Technology
      6. Microarrays
      7. Others
    2. Global Forensic Technology Market, By Services, 2020 - 2030 (USD Million)
      1. DNA Profiling
      2. Chemical Analysis
      3. Biometric Analysis
      4. Firearms Identification
      5. Others
    3. Global Forensic Technology Market, By Application, 2020 - 2030 (USD Million)
      1. Pharmacogenetics
      2. Biodefense & Biosurveillance
      3. Judical/Law Enforcement
      4. Others
    4. Global Forensic Technology Market, By Location, 2020 - 2030 (USD Million)
      1. Laboratory Forensic Technology
      2. Portable Forensic Technology
    5. Global Forensic Technology Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Thermo Fisher Scientific Inc
      2. Agilent Technologies Inc
      3. LGC Limited
      4. Forensic Pathways Ltd
      5. NMS Labs
      6. Eurofins Medigenomix GmbH
      7. GE Healthcare Life Sciences
      8. Promega Corporation
      9. SCIEX
      10. Morpho
  7. Analyst Views
  8. Future Outlook of the Market

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