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Key Influencer in the Forensic Technology Market 2025: Rising Crime Rates Propel Growth In The Forensic Technology Market Driver
What Is the Forecasted Market Size and Growth Rate for the Forensic Technology Market?In the past few years, the forensic technology market has seen a significant increase in size. It is projected to expand from $20.87 billion in 2024 to $23.48 billion in 2025, with a compound annual growth rate (CAGR) of 12.6%. The growth during the historic period can be linked to the enhanced efficiency of forensic analysis, a rise in crime rates, growing demand for DNA testing, improved accuracy and productivity of DNA analysis, and the higher adoption rate of forensics by private firms.
In the coming years, the forensic technology market is projected to witness a significant surge, expanding to a value of $37.36 billion by 2029 at a compound annual growth rate of 12.3%. The upward trajectory in this period is due to multiple factors, such as increasing homicide incidents, higher investment in updating forensic strengths, a rising number of violent crimes, a growing preference for chemical analysis approaches in drug-related issues, and a surge in cybercrime occurrences. Throughout this forecast period, dominant trends are anticipated to involve technology innovations, superior biometric solutions, AI-enabled tools in the field of forensic technology, strategic alliances, and the launch of new products.
What Are the Main Catalysts for Growth in the Forensic Technology Market?
The advancement of the forensic technology market is anticipated to be fueled by escalating crime rates. Crime rates represent measured statistics that express the frequency or occurrence of unlawful activities within a precise demographic or geographic location over a specified timeframe. A multitude of reasons such as poverty, unemployment, economic disparities, and hasty urbanization, contribute to the upsurge in crime rates, fostering conditions that are favorable to illegal activities. By bolstering efforts in investigation, detection, and prevention, forensic technology counters the growth in crime rates and assists law enforcement agencies in cracking cases with improved efficiency and accuracy. For example, as reported by the UK government's Office for National Statistics in October 2023, police in England and Wales recorded 6.7 million crimes in the year ending June 2023, in comparison to 6.5 million in the year ending June 2022, marking a 4% rise from the previous year. Consequently, the surge in crime rates is catalyzing the expansion of the forensic technology market.
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Which Businesses Are at the Forefront of Forensic Technology Market Development?
Major companies operating in the forensic technology market are Hitachi Corporation, F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Thales SA, GE HealthCare Technologies Inc., Agilent Technologies Inc., Nikon Corporation, Shimadzu Scientific Instruments, IDEMIA Group, Bio-Rad Laboratories Inc., Bruker Corporation, QIAGEN N.V., HORIBA Ltd., Carl Zeiss AG, FLIR Systems Inc., Ultra Electronics Holdings Plc, LGC Forensics Ltd, AB SCIEX Pte Ltd, Leica Microsystems GmbH, Neogen Corporation, Promega Corporation, Pacific Biosciences of California Inc., Bode Cellmark Forensics Inc., Sirchie, Morpho
What Are the Latest Innovations in the Forensic Technology Market?
Top corporations in the forensic science sector are concentrating on the development of novel technologies, like AI-based forensic instruments, to improve the precision, productivity, and effectiveness of forensic investigations. AI-based forensic science tools are software systems that utilize artificial intelligence (AI) and machine learning formulas for evaluation and processing of online proof during forensic examinations. Specifically, in May 2024, Alvarez and Marsal, a professional services organization situated in the US, introduced ChatView, an AI-driven tool for forensic technology. ChatView's distinctive attribute includes AI-powered transcription and translation of voice notes and video files, leading to a more effective study of such messages. This allows legal professionals and investigators to aggregate and scrutinize substantial quantities of chat evidence from a multitude of communication channels, encompassing text, sound, video, and memes. The software offers an enhanced perspective of collected chat evidence, heightened security, and added abilities such as offline transcription and translation, saving both time and money.
How Is the Forensic Technology Market Segmented?
The forensic technology market covered in this report is segmented -
1) By Type: Next Generation Sequencing (NGS), Capillary Electrophoresis, Polymerase Chain Reaction (PCR), Microarrays, Rapid DNA Analysis, Automated Liquid Handling Technology, Other Types
2) By Service: DNA Profiling, Chemical Analysis, Biometric Analysis, Firearms Identification, Other Services
3) By Location: Laboratory Forensics Technology, Portable Forensics Technology
4) By Application: Pharmacogenetics, Biodefense And Biosurveillance, Judicial Or Law Enforcement, Other Applications
Subsegments:
1) By Next Generation Sequencing (NGS): Whole Genome Sequencing, Targeted Sequencing, RNA Sequencing
2) By Capillary Electrophoresis: DNA Fragment Analysis, STR Analysis (Short Tandem Repeat), Genetic Fingerprinting
3) By Polymerase Chain Reaction (PCR): Real-Time PCR (qPCR), Digital PCR (dPCR), Multiplex PCR
4) By Microarrays: DNA Microarrays, RNA Microarrays, SNP Microarrays (Single Nucleotide Polymorphisms)
5) By Rapid DNA Analysis: Portable DNA Analysis Systems, Rapid DNA Test Kits
6) By Automated Liquid Handling Technology: Automated pettin*g Systems, Liquid Handling Robotics, High-Throughput Screening (HTS)
8) By Other Types: Mass Spectrometry, Forensic Imaging Technologies, Luminol-Based Detection Systems, Biosensors And Biochips
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Where Is the Forensic Technology Market Growth Most Prominent?
North America was the largest region in the forensic technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the forensic technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Forensic Technology Global Market Report?
- Market Size Analysis: Analyze the Forensic Technology Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Forensic Technology Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Forensic Technology Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Forensic Technology Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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