The global genealogy products and services market is projected to value over US$ 12 Billion and register a CAGR of over 11% from 2019 to 2029.
Genealogy is the study and tracing of lineages and history of an individual's family. Many service providers utilize multiple various analysis methods as historical records, genetic analysis to gain essential information regarding an individual's family.
Continuous innovations in technology, increasing use of social networking site and increasing interest towards genealogy remain the main drivers of the market. Technological advancements have helped genealogy consumers to keep themselves updated for genealogical research, which has propelled the growth of the market. Increasing curiosity regarding culture and heritage alongside a lack of formal records is fueling the growth of the market.
Growing awareness about genealogy alongside technological advancements remain vital factors behind the growth of the market. The market is expected to grow rapidly owing to retrieval and efficient data storage. These two factors remain key priorities for prominent players. A growing number of commercials promoting self-discovery is attracting new consumers and thus expanding the size of the market.
The genealogy market is segmented into by category, by product & services, and by region. Based on the category the market is bifurcated into family records, family tree, forum, cemetery, newspaper, blogs, links, DNA testing, and others.
Expanding demand for DNA testing is driving the growth of the market. The reduction in the costs of DNA sequencing also aided in the growth of the market. Rising demand for family tree and the family record is also likely to have a positive influence on the growth of the market during the forecast period.
Based on product & service, the market is bifurcated into FamilySearch, archives, MyHeritage and FindMyPast. To assure accurate and extensive results, FamilySearch declared that they will be redesigning its database to comprise data regarding same-sex families. The design will be completed by 2019. However, misuse of genealogy products & services has hindered the growth of the market. Genealogy products and services are also used for making predictive criminal profiles which can restrain the growth of the market.
In terms of region, North America holds the majority share of the market. High awareness, rising interest are some of the factors driving the growth of the market in the region. Affordability of these tests is also fueling the growth of the market in the region. Asia-Pacific region is also expected to witness the growth of the market in the coming years. Increasing penetration of prominent players coupled with rising interest has made Asia-Pacific a lucrative region for the market. Lack of formal records in a country like China has resulted in increasing curiosity regarding the ancient past among public thus driving the growth of the market.
Established players of the market are Sorenson Molecular Genealogy Foundation, RootsWeb.com, Family History Library, DNAPrint Genomics, Inc.
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Global Genealogy Products and Services Market Segmentation
By Category
• Family Records
• Family Tree
• Forum
• Cemetry
• Newspaper
• Blogs
• Links
• DNA Testing
• Others
By Products & Services
• FamilySearch
• Archives
• MyHeritage
• FindMyPast
By Region:
• Europe
• North America
• APAC
• Latin America
• Rest of World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the genealogy products and services market based on the category, products and services, and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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