Home Press Releases DNA Data Storage Market worth $3,348 million by 2030 at a CAGR of 87.7%

DNA Data Storage Market worth $3,348 million by 2030 at a CAGR of 87.7%

by Press Room

(EMAILWIRE.COM, November 13, 2023 ) 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 increasing awareness of data security and privacy concerns is expected to fuel the demand for DNA data storage, which offers an unparalleled level of data security. DNA can be encrypted and stored offline, making it highly resistant to hacking and unauthorized access. Unlike digital data, which can be vulnerable to cyber-attacks, DNA data is not connected to the internet, reducing the risk of breaches. DNA data storage contains DNA molecules which are remarkably stable and can endure harsh environmental conditions for thousands of years. This stability ensures the long-term integrity and reliability of stored data, making DNA storage ideal for critical and sensitive information that needs to be preserved over extended periods.

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DNA data storage solutions are expected to be used for various applications by end users, such as government, healthcare & biotechnology, media & telecommunication, commercial organizations, and financial institutes. In terms of end users, the government segment is expected to hold a significant share of the DNA Data storage market during the forecast period. Government agencies often deal with historical documents, manuscripts, and significant cultural and historical records. DNA data storage offers a stable and compact solution for archiving these documents, ensuring their preservation for future generations. Court records, legislative documents, and legal archives require long-term storage DNA data storage provides a reliable method for securely preserving these records, protecting their integrity over time. Overall, the adoption of DNA data storage in the government sector enhances data security and preservation and supports vital research initiatives, cultural preservation efforts, and national security objectives. It is an asset for government agencies dealing with diverse and critical information.

The On-premises segment for type in the DNA data storage market is expected to grow with the highest CAGR during the forecast period. On-premises DNA data storage facilitates organizations by synthesizing, encoding, and storing DNA data within their own physical infrastructure. This approach offers unparalleled control, allowing businesses, research institutions, and government entities to manage sensitive information internally, ensuring data security, compliance, and customizability. Hence, On-premises DNA data storage solutions are well-suited for organizations dealing with highly sensitive information, such as government agencies, healthcare institutions, and research organizations.

Asia Pacific is expected to witness the highest CAGR for the DNA data storage market during the forecast period. Asia Pacific region is generating a growing amount of data each year. This growth is being driven by factors such as the increasing adoption of digital technologies, the growth of e-commerce, and the rise of the Internet of Things (IoT). E-commerce companies need to store data securely and reliably, as it carries information related to product information, customer information, and transaction data and DNA data storage offers a secure data storage solution, as it is more durable than traditional data storage solutions and can last for thousands of years, which makes it ideal especially for storing long-term archival data.

Key Market Players:

Major players in this market ecosystem are Illumina, Inc. (US), Microsoft (US), Iridia, Inc. (US), Twist Bioscience (US), Catalog (US), Thermo Fisher Scientific Inc. (US), Micron Technology, Inc. (US) Helixworks Technologies Ltd (Ireland), Agilent Technologies, Inc. (US), Beckman Coulter (US), Eurofins Scientific (Luxembourg), and Siemens (Germany) among others. These market players availed opportunities like indulging in agreements and acquisitions. Collaboration and expansion were a few other strategies adopted by companies to strengthen their market position.

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