The report on the Genealogy Products and Services Market provides a bird’s eye view of the current proceedings and the impact on the COVID-19 pandemic. Further, the report ponders over the various factors that are likely to impact the overall dynamics of the Genealogy Products and Services Market once the COVID-19 pandemic subsides. The current trends, growth opportunities, restraining factors, and drivers are discussed in the report in detail.
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According to a recent Fact.MR study, the genealogy products and services market is likely to be valued at over US$ 3 billion in 2019. The market is likely to continue its bullish run with a myriad of factors influencing the strategy of key players. Surging demand for genetic and DNA testing in an assortment of industries, coupled with the growing awareness about genealogy are some of the vital factors bolstering market growth. Technological advancement also remains a key influencer, as efficient data storage and retrieval become key priorities for market players.
Demand for genealogy in tracing lineage and creating family trees is on the rise with service providers using aggressive marketing techniques to draw in new consumers. Commercials promoting self-discovery through lineage tracing are increasingly finding greater appeal as they resonate with the human psychology of tracing their heritage in order to gain a sense of wider connection. Additionally, the concept is being popularized by an array of television programs such as “Who Do You Think You Are?” and features providing information about the ancestry of famous personalities and linking it to their career and life.
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According to the study, in addition to curiosity about culture and heritage, lack of formal records is also promoting the growth of the market. For instance, demand for tracing lineages in China is on the rise with a significant percentage of population eager to trace their genealogy owing to the lack of records that were destroyed during wars in China and the Cultural Revolution. The Fact.MR study finds that the family records segment is one of the largest in the genealogy products and services market, accounting for nearly 45% of total share.
The substantial reduction in the costs of DNA sequencing technology is also aiding genealogy products & services companies to find an extensive consumer base. Reduction in the size of DNA testing kits and the convenience it offers to consumers is another key cause behind the surge in demand for genealogy products & services.
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Chapter 1 – Executive Summary
The report on genealogy products and services market commences with an executive summary which provides brief yet affluent information about the genealogy products & services market. In addition to this, the chapter highlights the key trends and analyses its impact on the genealogy products and services market. A summary of key findings and statistics along with a detailed opportunity assessment and exclusive recommendations from Fact.MR analysts have been provided in the chapter.
Chapter 2 – Market Introduction
A concrete definition of the genealogy products & services market has been provided with a detailed taxonomy of the market. The chapter also sheds light on the scope of the report.
Chapter 3 – Global Genealogy Products and Services Market Analysis, 2018
The chapter provides a detailed historical analysis of the performance of the genealogy products and services market along with an authentic forecast of the market. Additionally, a more detailed assessment of the market on the basis of region and category has also been provided in the chapter. The chapter also highlights the various mediums through which genealogy products & services are extending their consumer base and provides a thorough comparison between free and paid products and services.
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Chapter 4 – Genealogy Products & Services Comparison
A thorough comparison between the different services and products offered by the leading players operating in the genealogy products & services market has been provided in the chapter.
Chapter 5 – Genealogy Products & Services Market Dynamics
The chapter lists and analyses all the key market dynamics such as trends, restraints, challenges, and opportunities prevalent in the genealogy products & services market.
Chapter 6 – Genealogy Products & Services Market Background
A comprehensive assessment of all the factors influencing the genealogy products & services market performance. The chapter also sheds light on the changing cost structure of the genealogy products & services market. A key assessment of the different regulations applicable to genealogy products & services market has also been provided.
The Fact.MR report tracks the genealogy products and services market for the period 2018-2024. According to the report, the genealogy products and services market is projected to grow at 11.4% CAGR through 2024.
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