Global Forensic Technologies and Services Market to Reach $77.8 Billion by 2027
Amid the COVID-19 crisis, the global market for Forensic Technologies and Services estimated at US$48.8 Billion in the year 2020, is projected to reach a revised size of US$77.8 Billion by 2027, growing at a CAGR of 6.9% over the analysis period 2020-2027.
Chemical Analysis, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$29.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the DNA Profiling segment is readjusted to a revised 8.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $14.4 Billion, While China is Forecast to Grow at 6.5% CAGR
The Forensic Technologies and Services market in the U.S. is estimated at US$14.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.6 Billion by the year 2027 trailing a CAGR of 6.5% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 5.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR.
Biometric or Fingerprint Analysis Segment to Record 5.5% CAGR
In the global Biometric or Fingerprint Analysis segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.2 Billion in the year 2020 will reach a projected size of US$7.5 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9 Billion by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Recent Market Activity
Ever Present Threat of Crime Boosts the "Need" Factor
DNA Analysis: The Ultimate Weapon in the Battle against Crime
Government Intervention to Help Perk-Up Demand
Expanding Criminal DNA Database Extends a Fillip to DNA Analysis
DNA Analysis Aids in Post-Conviction Testing
Privacy Issues Plague DNA Forensics
Rising DNA Sample Analysis Backlogs Saddle Crime Labs
Federal Funds to Ease the Backlog Burden
Testing Quality in Laboratories Raises Eyebrows
Rise in Gun Violence Raises the Demand for Forensic Ballistics
Rise in Cyber Crimes Brings to Fore the Emergence of Computer Forensics
Digital Forensics Continue to Gain Acceptance in the Corporate Sector
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 125 Featured)
Agilent Technologies, Inc.
BAE Systems Plc
Capsicum Group LLC
Computer Forensics Inc.
Creative Forensic Services
Cyber Agents Inc.
Forensic Pathways Ltd.
Forensics Consulting Solutions LLC
Foster + Freeman Ltd.
Global Digital Forensics Inc.
Leica Geosystems AG
MorphoTrust USA Inc.
Pyramidal Technologies Ltd.
SBC Co. Ltd.
Thermo Fischer Scientific Inc.
Tri-Tech Forensics Inc.
3. MARKET TRENDS & DRIVERS
Challenges Continue to Bedevil Digital Forensics
Smartphone Forensics Garners Momentum
Law Enforcement Slow in Adoption of Mobile Forensics
Cloud Forensics Grow in Popularity
Forensics as a Service (FaaS) to Witness Robust Growth
Constant Threat of Terrorist Bombings Sharpens the Focus On Explosives Forensics...
All Eyes on Forensic Consulting Services
The Era of Slow Growth Invites Financial Fraud & Strengthens the Business Case for Forensic Accounting Services
Demand Swells for Miniaturized, Hand-Held Forensics Devices
Miniaturization of DNA based Diagnostics: Still an Uphill Task
Innovations in Forensic Technologies: Key to Growth
Targeted Collection - The Next Generation Forensic Tool
Image Enhancement Technology: A Shot in the Arm for Criminal Investigation
Fingerprint Detection on Metals Now a Possibility
Universities Emerge As Forensic R&D Hubs
Structure of Forensic Labs in the United States
Spotlight on Accreditation
Challenges Confronted by Forensic Labs
Practice of Forensic Science Attracts Widespread Criticism
Insufficient Funding Hampers Operations of Crime Labs
A Review of Select Technologies Applied in Forensic Investigation
High-Speed Cameras for Ballistics Photography
Panoramic 3D Cameras
Alternative Light Photography
Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LA-ICP-MS)
Video Spectral Comparator
3D Forensic Facial Reconstruction
Forensic Carbon-14 Dating
XFT Device - Digital Surveillance for Xbox
Link Analysis Software for Forensic Accountants
Magnetic Fingerprinting & Automated Fingerprint Identification System (AIFS)