Forensic Technology Market Trends

  • Report ID: 5074
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Forensic Technology Market Trends

Growth Drivers

  • Rising Adoption of Artificial Intelligence – Recent technological developments have made it possible for forensic scientists to use Artificial Intelligence (AI) to support their inquiries to help them establish more precise, timely, and uniform views regarding forensic case evaluation.
  • Growing Cases of Cybercrimes- The "digital fingerprint" left behind after a criminal is committed is tracked using digital forensics, a subfield of forensic science that employs technology to detect cybercrimes for the identification, preservation, analysis, and documenting of digital data that can be used as evidence in court.
  • Surging Popularity of DNA Testing- The polymerase chain reaction, capillary electrophoresis, probes, and restriction enzymes are the instruments used in DNA typing that can be used to identify criminals quite precisely and to offer capabilities that are uncommon among the majority of other forensic specialties.

Challenges

  • High Cost of Forensic Technology – The tools required for conducting a forensic investigation are frequently expensive and high-tech equipment as they are developed after extensive research which helps the forensic expert to produce the forensic results that are frequently crucial to solving a crime and ensuring accurate judgments in a court of law.
  • Lack of Skilled Professionals with Expertise in Forensic Technology
  • Limited Accuracy and Reliability of Forensic Tools

Forensic Technology Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

9.7%

Base Year Market Size (2024)

USD 15.96 billion

Forecast Year Market Size (2037)

USD 53.18 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Radhika Pawar


  • Report ID: 5074
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of forensic technology is estimated at USD 17.2 billion.

The forensic technology market size was over USD 15.96 billion in 2024 and is poised to exceed USD 53.18 billion by the end of 2037, witnessing over 9.7% CAGR during the forecast period i.e., between 2025-2037. Rising rate of crime across the globe and the growing popularity of blockchain technology will drive the market growth.

North America industry is likely to account for largest revenue share 36% by 2037, impelled by presence of well-established forensic laboratories in the region.

The major players in the market are LGC Forensics, Forensic Pathways, SPEX Forensics, Forensic Fluids Laboratories, Pyramidal Technology Ltd., GE Healthcare, Thermo Fisher Scientific, Inc., NMS Labs, Eurofins Medigenomix GmbH.
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