Portland, OR, March 30, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the Forensic Technology Market generated $15.21 billion in 2020 and is expected to reach $44.61 billion by 2030, registering a CAGR of 11.2% from 2021 to 2030. The report provides an in-depth analysis of major investment pockets, of the most winning strategies, drivers and opportunities, market size and estimates, competitive scenario and hesitant market trends.
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Significant rise in crime rates, rise in the implementation of advanced technologies to solve different types of criminal cases, and rise in pressure to clear backlogs in the court system are expected to drive the growth of the global market for forensic technologies. On the other hand, the lack of precision of forensic technologies is expected to hamper the growth to some extent. Nonetheless, persistent advancements in forensic science and new technology launches are expected to create many opportunities for the growth of the industry.
COVID-19 scenario:
- The COVID-19 outbreak has negatively impacted the growth of the global forensic technology market, owing to the prevalence of lockdowns in various countries around the world.
- Due to the closures, criminal cases across the world have declined. In addition, most criminal case investigations have been postponed or halted due to the strict social distancing restrictions imposed by the government during the pandemic.
- However, the market should recover soon.
The report offers detailed segmentation of the global forensic technology market based on type and region.
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Based on type, the services segment held the majority share in 2020, attracting nearly three-fifths of the global market. Moreover, the same segment is expected to quote the fastest CAGR of 11.5% during the forecast period. The report also analyzes the product segment.
By region, the North American market took the lion’s share in 2020, capturing more than half of the global market. The Asia-Pacific region, on the other hand, is expected to show the fastest CAGR of 12.2% during the forecast period.
Key market players analyzed in the Global Forensic Technology Market report include Morphotrust USA (Safran SA), NMS Labs, Thermo Fisher Scientific Inc., Ultra Electronics Forensic Technology Inc. (subsidiary of Ultra Electronics Holdings plc. ), 3M Company, Agilent Technologies Inc., Belkasoft, Eurofins MedigenomixForensik GmbH (Forensic Division of Eurofins Scientific SE), LGC Limited, GE Healthcare (Healthcare Division of GE Company).
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“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your referenceconsidering the impact of Covid-19 on this market which will help you to assess the aftereffects of the pandemic on the short and long term growth trends of this market.
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About Us
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
