Forensics Technology Market Is Expected to Reach $44.3 Billion by 2030: AMR
Increase in crime rates and involvement of advanced technologies to solve criminal cases drive the growth of the global forensics technology market. By type, the services segment generated the major share in 2020. By region, the market across Asia-Pacific would manifest the fastest CAGR throughout the forecast period.
Portland, OR, May 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global forensics technology market was estimated at $15.2 billion in 2020 and is expected to hit $44.3 billion by 2030, registering a CAGR of 11.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increase in crime rates and involvement of advanced technologies to solve criminal cases drive the growth of the global forensics technology market. On the other hand, lack of accuracy in these technologies restrain the growth to some extent. However, advancements in forensic science and launch of new technology are anticipated to create lucrative opportunities in the industry.
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Impact of Covid-19 on Forensics Technology Market Scenario-
- The global lockdown led to a steep decline in criminal cases across the globe. On the other hand, most of the investigations on criminal cases were either postponed or halted owing to the strict social distancing norms imposed by the government during the pandemic. These factors impacted the global forensics technology market negatively, especially during the initial phase.
- However, the market has already started recovering and is anticipated to revive very soon.
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The global forensics technology market is analyzed across type and region. Based on type, the services segment generated the highest share in 2020, accounting for nearly three-fifths of the global market. The same segment would also cite the fastest CAGR of 11.6% from 2021 to 2030. The report also analyzes the products segment.
Based on region, the market across North America held the major share in 2020, garnering nearly half of the global market. The Asia-Pacific region, simultaneously, would manifest the fastest CAGR of 12.4% throughout the forecast period.
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The key market players analyzed in the global forensics technology market 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, and Ultra-Electronics Forensic Technology Inc. (Subsidiary of Ultra Electronics Holdings plc.). They have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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