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IN THE NEWSThe DNA digital data storage market is estimated to garner a huge revenue by growing at a robust CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the benefits of DNA data storage such as flexibility on modification of data use, expansion of storage volume, high replication efficiency and long term stability. Along with these, growing investment of organizations to enhance data storage capacity and surge in the volume of the data globally are also expected to drive market growth in the coming years. On an average, the data storage requirements are growing by more than 38% every year. In addition, the total spending on data storage units is calculated to be valued more than USD 76 billion by the end of 2021. Furthermore, rising adoption of DNA data storage by companies and hike in progress of key enabling technologies are crucial factors evaluated to offer ample opportunities for the growth of the market during the forecast period.
The market is segmented by sequencing into synthesis, ion semiconductor, chain termination, ligation, and nanopore sequencing, out of which, the segment for nanopore sequencing is anticipated to witness a notable growth in the DNA digital data storage market on account of its ability to sequence data in real time at a cheaper and faster rate, and produce reads over a length of 2 Mb. Additionally, on the basis of application, the quality control segment acquires the largest market share in the forecast period owing to the growing implementation of DNA utilized data storage for cryptography, stenography and solving complex computational problems. However, the segment for archival is projected to witness significant growth in the future ascribing to the high density of DNA storage and increasing worldwide demand for archival data storage. CLICK TO DOWNLOAD SAMPLE REPORT
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the DNA digital data storage market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of increasing awareness about DNA data storage systems, growing advancements to develop sophisticated next generation technologies associated with the IT sector, government initiatives to promote end-to-end DNA data storage systems and strong presence of market players in the region. In the United States, the segment for emerging technology held more than 11% share in the IT industry in 2020. The share is calculated to rise up to approximately 14% by the end of 2021. Similarly, the market in Europe is also estimated to expand at a high rate during the forecast period, which can be credited to the rise in investments to develop effective data storage technologies and presence of reputed research institutes in the region.
The DNA digital data storage market is further classified on the basis of region as follows:
Our in-depth analysis of the DNA digital data storage market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing investment to enhance data storage capacity and high benefits of DNA data storage are major growth drivers for the market.
Increasing investment to enhance data storage capacity and high benefits of DNA data storage are major growth drivers for the market.
High cost and lack of random access ability of DNA storage is estimated to hamper the market growth.
North America is estimated to provide more business growth opportunities owing to increasing awareness about DNA digital storage and growing technological advancements in the region.
The major players in the market are Illumina, Inc., Microsoft Corporation, Thermo Fisher Scientific, Inc, Siemens AG, Beckman Coulter, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by sequencing, application, deployment, and by region.
The quality control segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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