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Genealogy Products and Services Market Impacts Higher Demand Due to Increasing Contribution by Major Players (DNAPrint Genomics, Inc., Familybuilder, Family History Library, Family Tree DNA) during 2016-2024

05-16-2019 09:37 AM CET | Industry, Real Estate & Construction

Press release from: MRRSE

MRRSE

MRRSE

Genealogy, which is also referred as family history is the study and tracing of the lineages and history of an individual’s family. In genealogy, various service providers utilize various analysis methods, such as oral interviews, genetic analysis, historical records, and various other records to obtain essential information about an individual’s family. This information helps the genealogists to describe the individual’s family relationships and lineage of its members.

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Genealogy is gaining much popularity in various parts of the world. Many people around the world are ready to spend as much as USD 18,000 per year to know their family tree or family history. Various products and services are gaining importance in this genealogy market such as, DNA tests (e.g. Y-DNA and mt-DNA tests), where each test can cost up to USD 400. According to the market estimates around 95,000 new tests are being performed each year worldwide.

Thus, these DNA tests are providing a lucrative market to the Genealogy Products and Services. There are many other driving factors for the growth of this market, which include continuous innovations in technology, rapidly increasing interest towards genealogy, and increasing usage of social networking sites worldwide. Recent technological advancements have equipped the genealogy consumers with most up-to-date tools for genealogical research, which will further help the growth of this market.

Presently, most of the western nations are efficiently using the genealogical research, but increasing interest of other developing regions towards this research will further fuel the growth of this market. Various genealogical services have now been connected to the social media such as facebook, google plus and others will also result in the generation of increased interest towards genealogy. Thus, most of the above factors will help in the growth of genealogy products and services market.

Geographically, North America dominates the genealogy products and services market followed by the European market. Major factors responsible for their dominance in this market were high awareness, interest as well as affordability for various tests and other services of the genealogy market. Also, most of the players operating in the genealogy products and services market are domiciled in these regions, which further helped them grow over past few years in the global market space.

However, Asia-Pacific is the most lucrative market due to rapid growth during past few years. Increasing penetration of various global players into the region, along with increasing interest of the people of these regions for genealogical research will also contribute towards the growth of this region in future. Highly populated regions like China, India, Indonesia etc. having a large customer base, who are increasingly using various social networking sites like facebook will also contribute towards the growth of genealogy in the region.

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Various other region nations from LATAM and Middle-East, such as Brazil, Mexico, UAE, Turkey and others have recently shown increased interests towards genealogical research. This will fuel the growth of various genealogical products and services market in these regions as well. Thus, overall market is set to experience a rapid growth in future.

Some of the major players operating in the genealogical products and services market are DNAPrint Genomics, Inc., Familybuilder, Family History Library, Family Tree DNA, Sorenson Molecular Genealogy Foundation, Ancestry.com, Genealogy.com, MyFamily.com, RootsWeb.com and WorldVitalRecords.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis

The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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