Genealogy Products and Services Market to Hit US$ 15.8 Billion by 2033 |Fact.MR Report
Fact.MR’s latest report on Genealogy Products and Services Market provides a detailed analysis of growth drivers, market restraints, and emerging trends. It also offers insights Covering 30+ Countries Including Analysis of US, Canada, Brazil, Mexico, UK, Germany, France, GCC countries, Japan, Korea and many more
Rockville , Aug. 11, 2023 (GLOBE NEWSWIRE) -- Climbing at a stellar 11.3% CAGR from 2023 to 2033, the global genealogy services and products market is estimated to reach a size of US$ 15.8 billion by the end of 2023. At present, North America dominates the global market and is anticipated to maintain its hegemony over the next ten years.
Numerous researchers claiming the efficacy of genetic testing are promoting its adoption. Genealogy and genetic testing procedures can potentially enable doctors to suggest measures to prevent the development of a certain health condition. Investments by governments to advance genomic research are further fueling the growth of the genealogy products & services market.
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Acquisitions, mergers, and collaborations are projected to be crucial strategies that could make or break the business of genealogy service and product companies.
In February 2021, Francisco Partners, a private equity firm based in the United States, announced that it had acquired MyHeritage, an Israel-based online genealogy platform provider.
| Details |
Forecast Period | 2023 - 2033 |
Value Projection (2033) | US$ 15.8 Billion |
Growth Rate (2023-2033) | 11.3% CAGR |
No. of Pages | 170 pages |
No. of Tables | 25 Tables |
No. of Figures | 132 Figures |
Key Takeaways from Market Study
The global genealogy products and services market is valued at US$ 5.4 billion in 2023.
Over the next ten years, worldwide demand for genealogy products and services is projected to expand at a phenomenal CAGR of 11.3%.
By 2033-end, the market is anticipated to reach US$ 15.8 billion.
Rising awareness regarding genealogy, surging popularity of heritage tourism, high demand for personalized medicine, and advancements in DNA testing technologies are prime market drivers.
Data confidentiality is estimated to emerge as a major challenge for genealogy service and product companies in the future.
North America currently accounts for around 45% of the global market share and is set to maintain its dominant stance ahead as well.
Institutions are forecasted to account for high sales of genealogy products.
“Surging popularity of heritage travel around the world will be a boon for genealogy service and product providers in the long run,” says a Fact.MR analyst
Key Companies Profiled in This Report:
American Elements
Cargill, Inc.
CK Life Sciences International Holdings Inc.
Infosa
K + S AG
Mitsui Co. Ltd.
Winning Strategy
Genealogy service and product companies should focus on launching new initiatives to promote awareness regarding genealogy as this will help them attract new customers. Companies should also focus on widening the scope of application of genealogy to different applications in the future.
Find a more detailed account of all the strategies adopted by established as well as incoming genealogy service and product providers from this research report by Fact.MR, a market research and competitive intelligence provider.
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Key Segments of Genealogy Products and Services Industry Research Report
By Category :
Family Records
Births
Marriages
Deaths
Residency
Military
Services
Immigration
Family Trees
Forums
Cemeteries
Newspapers
Blogs
Links
DNA Testing
Y-DNA
mt-DNA
at-DNA
Others
Magazines
Search Engines
Articles
Societies
Wikis
Services
Software
Ethnic Genealogy
By Application :
Households
Institutions
By Region :
North America
Latin America
Europe
APAC
MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global genealogy products and services market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on category (family records, family trees, forums, cemeteries, newspapers, blogs, links, DNA testing, others) and application (households, institutions), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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