Forensic Technology Market Hits USD 40.4 Billion By 2025: By Grand View Research, Inc.
The global forensic technology market is expected to reach
USD 40.4 billion by 2025, according to a new report by Grand View Research,
Inc. Innovations in forensic science lead to the development of advanced
techniques for solving crimes and increasing the efficiency of DNA testing.
Government initiatives for achieving progress in research in forensic science,
which is critical for public safety, is widening the scope for forensic
technologies market growth. For instance, National Institute of Justice (NIJ)
entered into a partnership with National Institute of Standards and Technology
(NIST), and National Science Foundation (NSF) to develop new techniques.
These organizations have also
jointly initiated Industry/University Cooperative Research Centers Program that
aids in industry and academic collaborations for efficient R&D in forensic
science. One of the major contributions by this program includes development of
practices for preservation and handling of DNA &other biological evidence.
These agenda of this program is to enhance the interoperability of national as
well as regional automated fingerprinting identification systems, limit
investigator bias, and develop standards for efficient analysis in criminal
cases.
U.S. forensic technology
market by product, 2014 - 2025 (USD Million)
Browse full research report on Forensic Technology Market: http://www.grandviewresearch.com/industry-analysis/forensic-technology-market
Further key findings from
the report suggest:
- Capillary
electrophoresis accounted for the largest part of the type segment in
2016. This can beattributed to high penetration in various applications
such as toxicology studies, illicit drug analysis, and ballistics
- In the
services segment, chemical analysis captured the dominant share in 2016.
This is a result of increasing adoption of this technique in fire debris
analysis, serology, bloodstain pattern analysis, and fingerprinting
- In the
application segment, judicial/law enforcement held the largest part in
2016 owing to the growing number of government initiatives intended toward
clearing backlogs of criminal cases that require concrete evidence
- Laboratory
technology held a substantial share of the location segment. This is a
consequence of consistent usage due to its ability to analyze a large
number of samples
- North America
held the largest share of the market owing to the increase in number of
supportive government initiatives aimed toward promoting usage of forensic
technologies
- Asia Pacific
is anticipated to witnesslucrative CAGR during the forecast period. The
lucrative growth rate can be attributed to development of advanced
infrastructure fortesting facilities
- High
competition has been observed as a result of key players adopting
strategies that include new product development and strategic
collaborations & agreements to gain competitive advantage
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-forensic-technology-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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