Forensic Technology Market Expected to Hit $44.3

Portland, OR, May 17, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the forensic technology market was estimated at $15.2 billion in 2020 and is projected to reach $44.3 billion by 2030, registering a CAGR of 11.2% from 2021 to 2030. The report provides an in-depth analysis of the main pockets of investment, best winning strategies, drivers and opportunities, market size and estimates, competitive scenario and varying market trends.

Rising crime rates and the involvement of advanced technologies to solve criminal cases are driving the growth of the global forensic technology market. On the other hand, the lack of precision of these technologies is hindering the growth to some extent. However, advancements in forensic science and the launch of new technologies are expected to create lucrative opportunities in the industry.

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Impact of Covid-19 on Forensic Technology Market Scenario-

  • The global lockdown has led to a sharp drop in criminal cases across the world. On the other hand, most investigations of criminal cases have either been postponed or halted due to the strict social distancing norms imposed by the government during the pandemic. These factors have had a negative impact on the global forensic technology market, especially during the initial phase.
  • However, the market has already started to recover and is expected to recover very soon.

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The global forensic technology market is analyzed by type and by region. By type, the services segment generated the highest share in 2020, accounting for nearly three-fifths of the global market. The same segment would also cite the fastest CAGR of 11.6% from 2021 to 2030. The report also analyzes the product segment.

By region, the North American market held the largest share in 2020, capturing nearly half of the global market. The Asia-Pacific region, simultaneously, would show the fastest CAGR of 12.4% throughout the forecast period.

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Key market players analyzed in the Global Forensic Technology Market report include 3M COMPANY, Agilent Technologies Inc., Belkasoft, Eurofins Medigenomix Forensik GmbH (Forensic Division of Eurofins Scientific SE), GE Healthcare (a division healthcare company GE), LGC Limited, Morphotrust USA (Safran SA), Thermo Fisher Scientific Inc., NMS Labs and Ultra-Electronics Forensic Technology Inc. (subsidiary of Ultra Electronics Holdings plc.). They have adhered to several strategies including partnership, expansion, collaboration, joint ventures and others to prove their flair in the industry.

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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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Allied Market Research (AMR) is a full-service market research and business consulting division 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 areas. AMR offers its services in 11 industry verticals, including Life sciencesconsumer goods, materials and chemicals, construction and manufacturing, food and beverages, energy and electricity, semiconductors and electronics, automotive and transport, ICT and media, aerospace and defense and BFSI.

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. Pawan Kumar, CEO of Allied Market Research is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. 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.

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