Segmentation by Sequencing (Synthesis, Ion Semiconductor, Chain Termination, Ligation, and Nanopore Sequencing); by Application (Quality Control, Archival, and Research & Prototyping); by Deployment (Cloud, and On-Premise) – Global Demand Analysis & Opportunity Outlook 2029
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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:
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.
Our in-depth analysis of the DNA digital data storage market includes the following segments:
By Sequencing
By Application
By Deployment
Growth Drivers
Challenges
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing investment to enhance data storage capacity and high benefits of DNA data storage are major growth drivers for the market.
Ans: Increasing investment to enhance data storage capacity and high benefits of DNA data storage are major growth drivers for the market.
Ans: High cost and lack of random access ability of DNA storage is estimated to hamper the market growth.
Ans: 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.
Ans: The major players in the market are Illumina, Inc., Microsoft Corporation, Thermo Fisher Scientific, Inc, Siemens AG, Beckman Coulter, Inc., and others.
Ans: 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.
Ans: The market is segmented by sequencing, application, deployment, and by region.
Ans: 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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