According to TechSci Research report, ‘Global Forensic Technology Market By Product, By Application, By Region, Competition, Forecast & Opportunities, 2025,’ the global forensic technology market is projected to grow at a CAGR of 13%during 2020 – 2025to reach USD 32.94 Billion by 2025 on account of the increasing investments by various public and private organizations towards forensic research. However, lack of accuracy during the investigation of crimes by adoptingthese technologies is the primary factor which can hamper the growth during forecast period. Rapid increase in the incidences of crime rate across the globe is creating high demand forforensic technology. Escalation in violent crimes involving murder, rape, robbery, and intentional homicide cases is the primary reason propelling demand for forensic technology across the globe.
Increasing advancements in the concepts like 3D fingerprinting analysis is boosting demand for forensic technology. 3D fingerprinting is a new and cost-effective technique, which creates a 3-D fingerprint database and facilitates the identification of fingerprints for future reference and makes the investigation process more reliable. Application of Artificial Intelligence (AI) in forensic technology is helping forensic experts to handle large amount of data efficiently and perform investigations at various levels of crime detection and save ample amount of time. One such AI related development in forensic technology market came up in Mar 2020, wherein a start-up voca.ai announced intentions to use voice forensic technology, which looks at the voice patterns, tones, and other sounds to determine the COVID-19 illness in a patient. Lack of skilled manpower is one of the major challenges for the growth of forensic technology market as the manpower across major developing and developed economies is not skilled to handle application of advanced technologies and thus requires extensive training.
The global forensic technology market is segmented based on product, application, technology, company, and region. Based on product, the market is segmented into DNA testing, biometric devices, digital forensics and ballistic forensics. The digital forensics segment is expected to witness the fastest growth during the forecast years.
