DUBLIN, Dec. 15, 2023 /PRNewswire/ — The “DNA Data Storage Market by Type (Cloud, On-Premises), Technology (Sequence-based DNA Data Storage, Structure-based DNA Data Storage), End Users (Government, Healthcare & Biotechnology, Media & Telecommunication) and Geography – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The DNA Data storage market is projected to grow from USD 76 million in 2024 and is expected to reach USD 3,348 million by 2030, growing at a CAGR of 87.7% from 2024 to 2030
The report will help the market leaders/new entrants in the market with information on the closest approximations of the revenue for the overall DNA data storage market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, opportunities, and challenges.
The rising demand for big data applications is one of the key driving factors for the DNA data storage market. Big data applications generate vast amounts of data, ranging from scientific research to business analytics. Traditional storage solutions struggle to handle this massive volume of data efficiently. Also, Big data applications require fast and efficient data retrieval for real-time analytics and decision-making.
DNA data storage provides a solution by offering an incredibly dense and scalable storage medium capable of accommodating these large datasets. Moreover, once optimized, it can offer rapid access to stored information, making it suitable for applications where quick retrieval of large datasets is essential.
US is expected to hold the largest share market size of the DNA data storage market in North America during the forecast period. The presence of large data centres in the US creates a demand for data storage solutions that are durable, secure, and scalable. DNA data storage can help data centres meet these demands. DNA data storage is more energy-efficient than traditional data storage solutions.
This can help data centres reduce their energy costs. DNA data storage is more durable than traditional data storage solutions, meaning that data centres can reduce their spending on hardware replacement. Several US companies such as Illumina, Inc. (US), Microsoft (US), Iridia, Inc. (US), Twist Bioscience (US), Catalog (US), Thermo Fisher Scientific Inc. (US), and Micron Technology, Inc. (US), are investing heavily in DNA data storage to develop and innovate new technology in this market.
Sequence-based DNA data storage in the DNA data storage market to witness significant growth during the forecast period
Sequence-based DNA data storage as a technology leverages the unique properties of DNA molecules to store vast amounts of digital information. Sequence-based DNA data storage is a type of DNA data storage in which data is encoded in the sequence of DNA bases. Sequence-based DNA data storage has a number of potential advantages over traditional data storage methods, such as magnetic tape and optical discs.
Although, it is a new technology, and it is still under development. However, it has the potential to revolutionize the way data is stored. Sequence-based DNA data storage could be used to store data for long periods of time, such as historical records and scientific data. It could also be used to store data in remote or inaccessible locations.
The Government sector is expected to witness significant growth in the DNA data storage market growth during the forecast period.
In terms of national security and defense, the government sector relies on large volumes of classified and sensitive data. DNA data storage can ensure the secure storage of classified information, protecting it from unauthorized access while allowing for efficient retrieval when needed. It can also be utilized for creating backup copies of critical national security data. Its stability ensures that essential information remains intact even in the event of natural disasters or cyber-attacks.
Moreover, Law enforcement agencies maintain a huge database of forensic DNA samples for criminal investigations. DNA data storage facilitates the efficient storage of these databases, ensuring the integrity of genetic information for forensic analysis. Government health agencies use genomic data for disease surveillance and public health research. It allows archiving of large genomic datasets, supporting ongoing health research efforts.
Premium Insights
- Increasing Demand for Data Storage Solutions to Boost Market
- On-Premises DNA Data Storage Market to Register Higher CAGR During Forecast Period
- Healthcare & Biotechnology Segment to Hold Largest Market Share in 2030
- Sequence-based Segment to Dominate Market in 2030
- Healthcare & Biotechnology and US to Account for Largest Market Shares in North America in 2024
- South Korea to Register Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Increasing Demand for Data Storage Solutions
- Technological Advancements in DNA Synthesis and Sequencing
- Rising Data Security and Privacy Concerns
Restraints
- High Cost of Establishing DNA Data Storage Facilities
- Slower Read-Write Speed of DNA Data Storage Solutions Than Traditional Electronic Storage Systems
Opportunities
- Pressing Need for Robust and Long-Term Archival Data Preservation Solutions
- Increasing Number of AI and ML Applications
- Growing Penetration of Big Data Across Industries
Challenges
- Standardization and Interoperability Issues Associated with DNA Data Storage Solutions
Case Study Analysis
- Research Conducted at Fung Institute for Engineering Leadership (College of Engineering) Provided Insight into Maximum Storage Capacity of DNA Data Storage Solutions
- Twist Bioscience’s Research Helped Store and Retrieve Human Genome Data Using DNA Data Storage Solutions
Technology Analysis
- Key Technologies
- DNA Origami
- Nanopore Sequencing
Company Profiles
Key Players
- Illumina, Inc.
- Microsoft
- Iridia, Inc.
- Twist Bioscience
- Catalog
- Thermo Fisher Scientific Inc.
- Micron Technology, Inc.
- Helixworks Technologies, Ltd.
- Agilent Technologies, Inc.
- Beckman Coutler, Inc.
- Eurofins Scientific
- Siemens
Other Players
- Oxford Nanopore Technologies PLC
- Evonetix
- Quantum Corporation
- Molecular Assemblies
- Bgi Group Guangdong Icp
For more information about this report visit https://www.researchandmarkets.com/r/j2oqwx
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