Reports and Data Forecasts $50.41 Billion Forensics Technology Market

Reports and Data is predicting that the market for forensics technology will climb to $50.41 Billion by 2027. That figure is based on a 2019 market valuation of $19.86 Billion and a CAGR of 12.3 percent.

The firm attributes much of that growth to the surging demand for next-generation sequencing technology. Such technology is popular with law enforcement because it is more accurate and has less bias than other forensics technologies, and because it can be used to identify degraded blood samples and complete paternity tests.

Digital transformation will also create a strong demand for biometric identification technologies that can improve cybersecurity and facilitate access control. In that regard, modalities like face and fingerprint recognition can help prevent fraud, identity theft, and other digital crimes. Meanwhile, the remote environment that emerged in the wake of COVID-19 has created an urgent need for digital forensics solutions.

Biometric technology is also expected to be used during investigations, especially as the technology continues to become more accurate and more affordable. Polymerase Chain Reaction (PCR), in particular, will be used more frequently for DNA testing.

Reports and Data suggests that facial recognition will be one of the biometric modalities driving the forensics market. However, it is worth noting that there has been considerable pushback against the technology in the past few years, with several cities implementing bans on the police use of the technology. Civil rights advocates have highlighted issues of racial bias, and have argued that the technology infringes on people’s privacy on a massive scale.

Reports and Data lists GE Healthcare, Thermo Fisher Scientific, the Neogen Corporation, NMS Labs, the Morpho Group, and LGC Forensics as some of the key players in the forensics space. The Asia Pacific market is expected to display the highest growth during the forecast period.

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January 18, 2021 – by Eric Weiss