Computer Forensic Technologies and Services Market – Evolving Technology, Global Industry Analysis, Trends and Forecast to 2024
After a period of sustained slowdown in forensic market, digital disruption has reshaped the computer forensic technology. The industry witnessed impressive growth over the last five years. Latent print analysis, chemical analysis, trace evidence analysis, explosive analysis, questioned document examinations (QDE) and tool market identification are some of the examples of forensic analysis. Furthermore, government contracts along with transparency in process execution have boosted the computer forensic technologies market.
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Rise in crime is expected to spur the demand for computer forensic technologies and services market worldwide
Rise in crime activities globally will stimulate the need of computer forensic technologies and services hence augment the market growth. According to World Health Organization (WHO) each year, 250 thousands homicides occur and are projected to increase mainly in MEA and Asia Pacific region. In addition, innovative services and technological advanced forensic equipment offered by key players has increased the usage of these equipment and services by forensic laboratories which is expected to drive the market growth. For instance, cartridge and bone fragments are gaining prominence over other traditional means of forensics. Moreover, companies such as Computer Forensic Services (CFS) and eDirect Impact offer line of integrated services ranging from data recovery, to forensic imaging which would further stimulate the use of these services hence drives the market growth. However, regulatory compliances along with complexity in initial setup are key concern to industry.
North America leads the forensic technologies and services market with over 800 thousand reported crime rate
Geographically, North America represents the largest market of computer forensic technologies and services. U.S. is expected to account for over 90% of the regional market followed by Canada. The growth of this market is mainly attributed to advancement in technologies coupled with rising need for forensic technologies and services in North America. Efforts of domiciled key companies to offer novel products further stimulate the use of forensic technologies and services. For example, in January 2015, Illumina, Inc. announced the expansion of its comprehensive next generation sequencing portfolio with the introduction of HiSeq 3000/4000 Systems and HiSeq X Five System. These systems offer cost effective option for high throughput laboratories to establish production scale sequencing. Thus, introduction of cost effective and innovative forensic systems in this region will fuel the utilization of forensic technologies and services market.
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Europe is the next largest market for computer forensic technologies and services. The region is characterized by industry mergers and acquisition For instance, in June 2011, IntegenX, Inc. partnered with Key Forensics Sciences Ltd. (KFS). The move allows KFS to access IntegenX’s RapidHIT 200 Early Access Program. This in turn has enabled KFS to expand company’s forensic services across United Kingdom. In addition, Asia-Pacific is the emerging markets and holds immense growth opportunities for computer forensic technologies and services. Key initiatives by government towards healthcare infrastructure and control over crime related activities is expected to boost overall computer forensic technologies and services market in Asia-Pacific regions.
Some of the key companies that provide computer forensic technologies and services include Agilent Technologies, Inc., Creative Forensic Services, eDirect Impact, LLC, Capsicum Group LLC, Computer Forensic, Inc., Illumina, Inc., BAE Systems plc, and others.
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