Global Forensics Market to Reach $41.12 Billion by 2030, Driven by Rising Crime Rates and Technological Advancements.
The global forensics market is projected to experience substantial growth, with an anticipated increase from USD 18.31 billion in 2022 to USD 41.12 billion in 2030, reflecting a compound annual growth rate (CAGR) of 14.44% throughout the forecast period.
This growth can be attributed to several factors, including the escalating crime rates, heightened awareness of the importance of forensic science, and the significant investments made by governments and law enforcement agencies in forensic technologies.
The forensics market is categorized into three types: digital forensics, physical forensics, and biological forensics. Among these, the digital forensics segment is expected to dominate the market, primarily due to the increasing involvement of digital devices in criminal activities and the growing demand for digital forensics services from law enforcement agencies.
Furthermore, the forensics market is segmented by application into civil applications and criminal applications. The criminal applications segment is projected to hold the largest market share during the forecast period. This can be attributed to the rising crime rates globally and the increasing demand for forensic services from law enforcement agencies.
The major players in the forensics market include:
Agilent Technologies
Thermo Fisher Scientific
PerkinElmer
Danaher Corporation
LGC Group
3M Company
Idemia
Cellebrite
AccessData Group
Grayshift
Paraben Corporation
The Asia Pacific region is anticipated to experience substantial growth in the forensics market throughout the projected period. This can be attributed to the escalating crime rates, heightened awareness of forensic science, and augmented investments in forensic technologies by governments and law enforcement agencies in the region.
Several noteworthy trends are emerging in the forensics market:
1. The proliferation of artificial intelligence (AI) and machine learning (ML) in forensics: AI and ML are increasingly being employed in forensics to automate tasks, enhance accuracy, and identify patterns that would be arduous or unattainable for humans to discern.
2. The advancement of novel forensic technologies: Constant development of new forensic technologies, such as innovative methods for DNA analysis and cutting-edge tools for digital forensics, is taking place.
3. The escalating utilization of cloud computing in forensics: Cloud computing is progressively being utilized in forensics to store and process vast amounts of data.
The forensics market is a burgeoning market with substantial potential. The aforementioned emerging trends in the market are projected to propel further growth in the forthcoming years.
