PUBLISHER: The Business Research Company | PRODUCT CODE: 1539693
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539693
Genealogy products and services encompass tools and resources designed to assist individuals in exploring and documenting their family history. These resources facilitate the tracing and recording of family lineages, the creation of family trees, the discovery of ancestral origins, and the establishment of connections with relatives. These products are instrumental in helping people uncover their ancestors, comprehend family connections, and trace their lineage across multiple generations.
The primary categories of genealogy products and services include family records, family trees, forums, cemetery records, historical newspapers, blogs, DNA testing services, and others. Family records comprise official documents that contain information about family members and their relationships. These products cater to various end-users such as direct-to-consumer testing companies, law enforcement agencies, research institutes, academic organizations, and more.
The genealogy products and services market research report is one of a series of new reports from The Business Research Company that provides genealogy products and services market statistics, including genealogy products and services industry global market size, regional shares, competitors with a genealogy products and services market share, detailed genealogy products and services market segments, market trends and opportunities, and any further data you may need to thrive in the genealogy products and services industry. This genealogy products and services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The genealogy products and services market size has grown rapidly in recent years. It will grow from $4.14 billion in 2023 to $4.61 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. Historical growth can be credited to increasing interest in health-related genetic information, celebrity endorsements, media visibility, enhanced marketing efforts, heightened awareness campaigns, improved data analytics algorithms, and the growing popularity of direct-to-consumer genetic testing.
The genealogy products and services market size is expected to see rapid growth in the next few years. It will grow to $7.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period is anticipated due to rising consumer fascination with ancestry and heritage, heightened awareness of genetic health risks, the expansion of online genealogical databases, increased adoption of direct-to-consumer genetic testing, and a growing focus on health-related genetic information. Key trends in the forecast period include the incorporation of artificial intelligence (AI), broader utilization of blockchain technology, integration with wearable devices, the expansion of global genetic databases, and advanced analysis of ancestral traits.
The increasing demand for genetic testing is projected to drive growth in the genealogy products and services market. Genetic testing involves examining DNA to detect variations indicating genetic disorders, ancestry, or other characteristics. This demand is fueled by growing awareness of its benefits for health and lineage. Genetic testing supports genealogy by offering insights into ancestral origins, connecting individuals with relatives, and verifying family histories through DNA analysis. For instance, in December 2022, spending on high-cost genetic tests surged by 56% to $1.9 billion from $1.2 billion in 2020, surpassing pre-pandemic levels. Consequently, the expanding demand for genetic testing is a key driver of the genealogy products and services market's expansion.
Major players in the genealogy products and services market are prioritizing advanced technologies such as next-generation sequencing (NGS) tests to provide more comprehensive and precise genetic ancestry information. NGS is a high-throughput DNA sequencing technology enabling rapid and thorough genetic material analysis. For example, in January 2024, UK-based Nonacus launched the GALEAS HereditaryPlus panel, which analyzes 146 genes in line with ESMO and AMP guidelines for genetic testing in the EU and USA. This test meets UK National Genomics Test Directory standards for detecting rare and inherited disorders such as Lynch syndrome, rare hereditary cancers, and pediatric cancers.
In August 2021, US-based Ancestry.com LLC acquired Geneanet to enhance global family history discoveries by leveraging Geneanet's extensive European community and free family tree platform, along with Ancestry's vast historical records and subscriber base. This acquisition aims to accelerate the digitization of French historical records, fostering connections among individuals with French heritage worldwide. Geneanet, based in France, specializes in hosting family trees and offering DNA genealogy services.
Major companies operating in the genealogy products and services market are Findmypast Limited, Ancestry.com LLC, 23andMe Inc., MyHeritage Ltd., Clooz, Family Tree Maker, Geneanet, Progeny Genealogy, ObitFinder, Geni.com, Family Tree DNA, Gene by Gene Ltd., Legacy Family Tree, GEDmatch, Ancestral Quest, BillionGraves Holdings Inc., Brother's Keeper, Fold3, GenealogyBank.com, Living DNA Ltd., RootsFinder, RootsMagic, WikiTree Inc
North America was the largest region in the genealogy products and services market in 2023. The regions covered in the genealogy products and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the genealogy products and services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The genealogy products and services market consists of revenues earned by entities through services such as online databases, archival resources, and genealogy software and apps. The market value includes the value of related goods sold by the service provider or included within the service offering. The genealogy products and services market also includes sales of DNA testing kits, genealogy books, historical maps, and documents. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Genealogy Products And Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on genealogy products and services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for genealogy products and services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The genealogy products and services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.