Forensic Technologies and Services Market Size to Expand at Highest Revenue US$ 39,101.4 Million with Growth Rate at 12.8% CAGR by 2027
Global Forensic Technologies and Services Market – Insights
Several advanced techniques are in play in forensics science such as fingerprint retrieval, chemical analysis, and portable DNA profiling. These techniques have helped in reducing costs of forensic services.
Global Forensic Technologies and Services Market: Drivers
Increasing number of forensic laboratories is expected to boost growth of the global forensic technologies and services market over the forecast period. For instance, the number of forensic laboratories in the U.S. has grown from 490 in 2000 to an estimated 550 in 2010. Noticing top 50 publicly funded forensic crime labs, the annual aggregate budget of such labs is about US$ 360 million.
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Increasing collaboration and investment activities are also expected to propel growth of the global forensic technologies and services market. For instance, during 2009 and 2014, National Institute of Justice (NIJ) invested US$ 127 million in R&D and partnered with National Science Foundation (NSF) and the National Institute of Standards and Technology (NIST) to develop new technologies in forensic science. In 2014, NIJ and NSF collectively introduced an Industry/ University Cooperative Research Center to enhance the university and industry collaboration in forensic science R&D and in education.
The global forensic technologies and services market was valued at US$ 14,877.7 million in 2019 and is expected to witness a CAGR of 12.8% during the forecast period (2019 – 2027).
Global Forensic Technologies and Services Market Share (%) Analysis, By Type, 2019
Source: Coherent Market Insights Analysis (2019)
Global Forensic Technologies and Services Market: Segment Analysis
Chemical analysis is used to identify illegal substances within the criminal justice system. The chemicals usually considered are used to assess interaction and bonding of atoms and molecules in a sample with each other. Various advanced methods that can be replicated in the lab and are presentable as evidence in court are used along with the distinctive features to identify substances. Forensic chemistry deals with analysis and detection of illegal drugs, explosives and poisons. Scientific findings are used in forensic drug chemistry to help the jury pursue legal action against the suspected individual of a drug-related crime.
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Key Takeaways of the Global Forensic Technologies and Services Market:
- The global forensic technologies and services market is expected to exhibit a CAGR of 12.8% over the forecast period (2019–2027), owing to increasing acquisition of business to develop more growth opportunities.
- Among type, chemical analysis segment is expected to account for a major revenue share by 2027. Chemical analysis is a forensic study that is used in identification of illegal substances within the criminal justice system.
- Major players operating in the global forensic technologies and services market include Agilent Technologies, Inc., Creative Forensic Services, eDirect Impact, LLC, Capsicum Group LLC, Computer Forensic, Inc., Illumina, Inc, and BAE Systems plc.
Global Forensic Technologies and Services Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
Source: Coherent Market Insights Analysis (2019)
Detailed Segmentation:
- Global Forensic Technologies and Services Market, by Type:
- Product Type
- DNA Profiling
- Biometric Analysis
- Digital Forensic
- Chemical Analysis
- Services
- Laboratory Forensic (LIMS)
- Product Type
- Portable Forensics (FaaS)Global Forensic Technologies and Services Market, by Region:
- North America
- By Country:
- U.S.
- Canada
- By Type:
- Product Type
- DNA Profiling
- Biometric Analysis
- Digital Forensic
- Chemical Analysis
- Services
- Laboratory Forensic (LIMS)
- Portable Forensics (FaaS)
- Product Type
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Type:
- Product Type
- Services
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Type:
- Product Type
- Services
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Product Type
- Services
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Type:
- By Service:
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- Product Type
- Services
- By Country/Region:
- North America
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