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	2023
Forecast Year	2024-2036
CAGR	~13%
Base Year Market Size (2023)	~ USD 20 Billion
Forecast Year Market Size (2036)	~ USD 59 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)

Frequently Asked Questions (FAQ)

Rising rate of crime across the globe and the growing popularity of blockchain technology are the major factors driving the growth of the market.

The market size of forensic technology is anticipated to attain a CAGR of 13% over the forecast period, i.e., 2024-2036.

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.

The DNA profiling segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Forensic Technology Market Trends