Press release
Forensic Technology Market on Track to Top $22.90 billion by 2023 | 3M Company, Agilent Technologies
Forensic Technology Market
According to the report by Allied Market Research, the global forensic technology market is estimated to register a CAGR of 13.4% from 2017 to 2023. The research helps leading players and startups to devise new strategies based on current market trends and changing dynamics. Competitive landscape is mentioned in the report based on business segments, products portfolio, and strategic moves & developments of leading market players. Detailed segmentation assists in determining growing segments and determining further steps to capitalize on lucrative segments. Regional landscape is helpful in determining opportunities and driving factors of each region and taking further steps.
Biometric devices segment held more than one-third share of the total market in 2016.
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Forensic technology involves the use of data/sample collected from the crime scene.The market has witnessed significant growth in the recent past due to development of new types of technologies to solve crimes.
Advent of new technologies such as alternative light photography, ballistic photography and DNA sequencer and rise in incidence of crime are the key factors that drive the market growth. In addition, rise in government initiatives to support forensic research such as funding availability are anticipated to fuel the demand for forensic technologies globally. However, lack of results obtained from these technologies restrict the market growth.
The drug analysis service segment generated the maximum revenue, accounting for more than one-fourth of the global forensic technology market in 2016. However, DNA profiling segment is estimated to exhibit the highest growth rate of 17.1% during the forecast period.
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Asia-Pacific is projected to grow at the highest CAGR of 14.8% during the forecast period, owing to surge in crimes such as homicide, sexual harassment, and thefts. In addition, technological advancements to develop cost-effective technologies such as automated fingerprint identification, alternative light photography, and link analysis software present lucrative opportunities for market players in the near future.
The Major Key Players Are:
• 3M Company
• Agilent Technologies Inc.
• Belkasoft
• Eurofins Medigenomix Forensik Gmbh
• GE Healthcare
• LGC Limited
• MorphoTrust USA
• NMS Labs
• Thermo Fisher Scientific Inc.
• Ultra Electronics Holdings plc.
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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