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Global Forensic Technology Market Analysis (2017-2023)

Global Forensic Technology Market Analysis (2017-2023)

  • December 2017
  • 209 pages
  • ID: 5304204

Summary

Table of Contents

Forensic Technology Market was valued at $8 billion in 2016, and is estimated to reach $21 billion by 2023, growing at a CAGR of 14% during the forecast period. Forensic technology has grown into a major tool in the court of law.

It is used with an objective to investigate crime. Increasing crime rates and growing need to solve finesse crimes using advanced technologies are the factors that would drive the growth of the global forensic technologies market. Additionally, government initiatives in the form of funding to support forensic research would further add to the growth of the market. However, questionable accuracy of the results through the use of these technologies would limit the market growth.

Rapid growth in the number of violent crimes across the globe is a powerful driver to the forensic technologies market growth. Intentional homicide, murder, rape, and robbery are the reasons that demand forensics.

Other factor that is contributing to the market growth is increasing investments by various public and private organizations for forensic research. For instance, the Debbie Smith DNA Backlog Grant Program provides funds to local as well as state governments to reduce the backlog of untested and unanalyzed DNA evidences. The purposes served by this grant are analyzing biological samples that fall under applicable legal authority, enhancing the capacity of the state and local laboratories to conduct DNA analysis, and ensure streamlined analysis.

Based on service, the market is segmented into DNA Profiling, Fingerprinting Analysis, Chemical Analysis, Firearm Analysis, and Others. The product covered under the report includes DNA Testing, Biometric Devices, Digital Forensics, Ballistic Forensics, and Other Products.. The report also covers geographical segmentation of Forensic Technology market.

The geographies included in the report are North America, Europe, Asia-Pacific, Middle East and Africa. For the better analysis, the geographies are segmented into countries.

The market research report covers the analysis of key stake holders of the Global Forensic Technology Market. Key companies profiled in the report include Thermo Fisher Scientific, General Electric (Ge), Agilent Technologies, Forensic Pathways, Eurofins Scientific, LGC Limited, Spex Forensics, Inc, Neogen Corporation, Nms Labs, Inc., and IDEMIA.

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