CHICAGO, Nov. 6, 2023 /PRNewswire/ -- 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 according to a new report by MarketsandMarkets™. The growing threat of cyberattacks is one of the key factors driving the demand for DNA data storage. Cyberattacks are becoming increasingly sophisticated and frequent, and traditional data storage methods are vulnerable to attack. DNA data storage offers a more secure way to store data, making it less vulnerable to cyberattacks. DNA data storage mitigates the risk of large-scale data breaches, as physical access to the DNA sample is required for any kind of data retrieval, making it significantly more secure than digital databases.
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DNA Data Storage Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 76 million |
Estimated Value by 2030 | $ 3,348 million |
Growth Rate | Poised to grow at a CAGR of 87.7% |
Market Size Available for | 2024–2030 |
Forecast Period | 2024–2030 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Technology, End Users and Geography |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Standardization and Interoperability of DNA Data Storage Market |
Key Market Opportunities | Adoption of DNA data storage solutions for artificial intelligence (AI) and machine learning (ML) applications |
Key Market Drivers | Increasing demand for data storage |
Cloud based DNA data storage to hold the largest share of the DNA data storage market during the forecast period.
Cloud-based DNA data storage involves storing digital information in the form of synthesized DNA strands within cloud computing environments. This innovative approach to data storage leverages the unique properties of DNA, such as its incredible data density and longevity, to store vast amounts of information in a highly compact and durable form. Overall, cloud-based DNA data storage holds immense potential for fields requiring vast and secure data storage, including genomics research, personalized medicine, and historical/archival data preservation. As technology advances and costs decrease, this approach is expected to become increasingly prevalent, shaping the future of data storage in the digital age.
Market for Healthcare and biotechnology segment is expected to account for largest market share during the forecast period.
The healthcare and biotechnology segment in the DNA data storage industry is expected to hold the largest market size during the forecast period. Healthcare and biotechnology sectors generate vast volumes of genetic data, research findings, and sensitive patient information. DNA data storage enables the secure and compact storage of extensive genomic data sets. This is crucial for research on diseases, genetic mutations, and personalized medicine, allowing scientists and clinicians to analyze vast genetic information efficiently, enhancing healthcare facilities.
Sequence-based DNA data storage segment is expected to be the fastest growing market of the DNA data storage market during the forecast period.
Sequence-based DNA data storage is a type of DNA data storage in which data is encoded in the sequence of DNA bases. Currently, most of the companies active in DNA data storage market such as Catalog (US), and Twist Bioscience (US) are working on this technology. Both sequence-based and structure-based DNA data storage technologies have their own advantages and disadvantages. Higher capacity and more scalabilities are expected to be the two key advantages of sequence-based DNA data storage over structure-based DNA data storage. However, sequence-based DNA data storage is expected to be less durability and more expensive in comparison to structure-based DNA data storage.
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North America to have the largest share of DNA data storage market in during the forecast period.
The North American region is expected to have the largest market share of the DNA data storage market during the forecast period. North America, particularly the United States, is home to numerous research institutions, universities, and biotechnology companies at the forefront of DNA data storage research and development. Investments in R&D activities aimed at enhancing DNA synthesis, sequencing, and storage technologies are likely to drive market growth in this region.
Leading players in the DNA data storage companies include 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) Siemens (Germany) and Oxford Nanopore Technologies (UK), Evonetix (UK), Quantum Corporation (US), Molecular Assemblies (US), BGI GROUP GUANGDONG ICP (China)are few other key companies operating in the DNA data storage market.
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