Tuesday, 12 April 2016
Forensic Technologies Market Reaches New Heights with Utilization of Advanced Technology
As technology penetrates practically all walks of life, it is no surprise that solving crimes is driven by modern technologies and methods. Today scientists use retinal scanning, DNA tests, mass spectrometry, high-performance liquid chromatography, and other advanced technologies to reconstruct crimes and accidents. In the entire operative, right from the collection of evidence at crime site to presentation of investigated results in courts of law, forensic technology has dramatically improved the quality and precision of criminal investigations.
Of the several investigating methodologies, DNA profiling is extensively used and is expected to rise at a CAGR of 11% for the 2013-2019 period. DNA profiling is significant for crime investigations that are otherwise impossible to crack due to insufficient non-DNA-based evidence. Currently, DNA profiling is rising in demand rapidly, as law enforcement agencies are considerably dependent on this for criminal investigation.
Standardization of Processes to Lower Forensic Technologies Market Value in North America and Europe
Transparency Market Research states that the global forensic technologies market will expand at a CAGR of 12.4% between 2013 and 2019. This will result in the market’s valuation reaching US$17.7 bn by 2019, increasing from US$8.3 bn in 2012.
In terms of geography, North America and Europe are the leading markets for forensic technologies. In 2012, the global market was dominated by North America, which was closely followed by Europe, which resulted in the two regions accounting the majority share in the global market. This is because forensic technologies such as biometrics/fingerprints, DNA profiling, and firearms identification are a standard part of the criminal investigation procedure in these regions and are carried out through automated systems. Further standardization of processes will result in reduced expenditure on end-to-end crime analysis and a decline in the value of forensic services in these regions.
Adoption of Technology-based Criminal Investigation Rising in Asia Pacific, RoW Forensic Technologies Markets
By the end of 2019, Asia Pacific and Rest of the World are expected to collectively hold a share of close to 60% in the global market. In these regions, several countries have initiated DNA database programs on a mass scale to be prepared for future eventualities. For instance, the Dubai police is investing heavily on building forensic technologies/services infrastructure and for purchasing hi-tech forensic equipment and supplies. Thus, the Middle East market will render attractive growth opportunities for forensic equipment providers. A multitude of other favorable factors will propel the growth of the forensic technologies/services market in these regions; hence, Asia Pacific and Rest of the World will garner a significant share in the global forensic technologies market going forward.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/global-forensics-technology.htm
Top players that are involved in forensic technologies market globally are NMS Labs Inc., Spex Forensics, GE Healthcare Life Sciences, Pyramidal Technologies Ltd., LGC Forensics, and Eurofins Medigenomix GmbH.