The Allied Market Research published a report on Forensics Technology Market 2021-2030, Interesting fact and figures (CAGR, Global Size, Shares and Revenue with Business Growth Support and Market Value and Volume with Supply Demand Scenario and Pipeline Projects). 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.
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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.
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.
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.
The major companies profiled in the report include 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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