Forensic technologies market to reach $17.7 billion by 2019: report

August 19, 2013 - 

According to a newly-published report, the forensic technologies market, which includes biometrics, has been valued at USD $8.3 billion in 2012 and is expected to grow at a CAGR of 12.4% from 2013-2019, to a total of US $17.7 billion in 2019.

The report, Forensic Technologies Market (Physical Crime Forensics, Laboratory Forensics, Forensic Tools and Products) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019, is now available in the Transparency Market Research catalogue.

Also, as the report notes, the DNA profiling segment is expected to grow at an 11% CAGR in the same period. Currently, in terms of geography, North America and Europe have a higher market share, but going forward, it’s expected that Asia Pacific and RoW regions are expected to gain about 60% of the global pie.

Currently, the market is dominated by the Government and as the report also indicates, publicly-funded forensic labs account for about 60% of the forensic technologies and services market share.

Transparency Market Research has also recently published a report looking at the voice verification market, and has found that it is currently in its nascent stages, but that growth is imminent as voice biometrics and speech recognition become more widely adopted.

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About Adam Vrankulj

Adam Vrankulj is an editor for BiometricUpdate.com. His background consists of online news writing, editing and content marketing. Adam has written for CBCNews.ca, BlogTO and was the editor and curator for the nextMEDIA and CIX Source publications. He has a degree in journalism and is passionate about science, technology and social innovation. Contact Adam, or follow him at @adamvrankulj