Evolving Market Trends In The Forensic Technology Industry: AI-Powered Forensic Technology Tools Gaining Traction In The Market

The Forensic Technology Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Forensic Technology Market Size During the Forecast Period?
The forensic technology market has grown rapidly in recent years. It is expected to grow from $20.87 billion in 2024 to $23.48 billion in 2025, at a CAGR of 12.6%. This growth is driven by the increased effectiveness of forensic analysis, a rise in criminal activity, growing demand for DNA testing, advances in DNA analysis accuracy and efficiency, and the increasing adoption of forensic technologies by private companies.

The forensic technology market is anticipated to experience substantial growth in the coming years, reaching $37.36 billion by 2029 with a compound annual growth rate (CAGR) of 12.3%. This growth is driven by the increasing number of homicide cases, investments in modernizing forensic capabilities, a rise in violent crimes, the growing use of chemical analysis in drug testing, and the escalating frequency of cybercrime. Major trends expected during the forecast period include technological advancements, advanced biometric solutions, AI-powered forensic tools, strategic partnerships, and new product launches.

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What Are the High-Growth Segments in the Forensic Technology Market?
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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What Key Drivers Are Expected to Influence Future Forensic Technology Market Growth?
The rising crime rates are expected to drive the growth of the forensic technology market. Crime rates refer to the frequency of criminal activities in a specific area over a defined period. Rising crime rates can be attributed to factors such as poverty, unemployment, economic disparity, and urbanization, which foster criminal behavior. Forensic technology plays a vital role in addressing increasing crime rates by enhancing investigation, detection, and crime prevention methods, enabling law enforcement to solve crimes more efficiently and accurately. For instance, the Office for National Statistics in the UK reported that police in England and Wales recorded 6.7 million crimes in the year ending June 2023, a 4% increase compared to 6.5 million in the previous year. Therefore, rising crime rates are fueling the growth of the forensic technology market.

Which Companies Hold the Largest Share Across Different Forensic Technology Market Segments?
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 Trends Are Expected to Dominate the Forensic Technology Market in the Next 5 Years?
Foremost organizations in the forensic technology industry are prioritizing the development of ground-breaking tech solutions like AI-empowered forensic tools. These tools are designed to augment the precision, efficacy, and potency of forensic inspections. AI-enhanced forensic technology gadgets are essentially software programs that leverage artificial intelligence (AI) and machine learning mechanisms to analyze and process digital evidence in forensic probes. For instance, in May 2024, Alvarez and Marsal, a professional service firm from the US, introduced ChatView, an AI-powered forensic tech gadget. The distinctiveness of ChatView lies in its AI-infused transcription and translation capability for voice notes and video files, handy for scrutinizing such messages more efficiently. This function aids attorneys and investigators in gathering and examining copious chat data from multiple communication mediums, with formats ranging from text to audio, video, and even memes. The software offers an enhanced review of accumulated chats, superior safety features, and additional beneficial utilities like offline translation and transcription. This helps save not only time but also money.

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What Are the Emerging Geographies for The Forensic Technology Market Growth?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Forensic Technology Market?
2. What is the CAGR expected in the Forensic Technology Market?
3. What Are the Key Innovations Transforming the Forensic Technology Industry?
4. Which Region Is Leading the Forensic Technology Market?

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