DNA has emerged as a promising storage medium with its ability to densely encode digital data. DNA data storage utilizes the molecular structure of DNA to encode binary information as a series of As, Gs, Cs and Ts to offer ultra-high density data storage. DNA data storage works by synthesizing short DNA strands (oligonucleotides) to represent a binary code. The technology allows several exabytes of data to be encoded in a single gram of DNA. DNA data storage holds advantages over conventional storage mediums owing to its remarkable storage density and durability. The technology enables archiving of massive amounts of digital information for extremely long periods without degradation or need for power.
The DNA Data Storage Market is estimated to be valued at US$ 34.8 Mn in 2024 and is expected to exhibit a CAGR of 28. % over the forecast period 2024-2031.
With ever-growing digital data, there is a pressing need for reliable, ultra-dense and durable storage solutions. DNA data storage emerges as a promising alternative to conventional storage options to address escalating data storage challenges.
Key Takeaways
Key players operating in the DNA Data Storage are Illumina, Inc., Microsoft, Iridia, Inc., Twist Bioscience, Catalog Technologies and Among Others. These companies are investing heavily in R&D to accelerate the commercialization of DNA data storage technologies. For instance, Illumina launched their first DNA data storage system in 2021 aiming to offer storage at petabyte scales.
The rapidly growing volume of digital data generated across industries is driving the demand for DNA data storage. From genes sequencing to internet usage to sensor data—all are contributing to an exponential rise in digital data. Conventional storage solutions are reaching their capacity, necessitating innovative storage technologies like DNA data storage.
Several companies are also collaborating to build global infrastructure for DNA data storage. Microsoft partnered with Catalog to test storing images in DNA in 2020. Such partnerships can help establish global networks for commercial adoption of DNA storage globally.
Market Key Trends
Miniaturization of DNA storage devices is a key trend in the market. Major industry players are focusing on developing portable DNAreaders/writers that can integrate DNA data storage capabilities while occupying minimum space. For example, researchers at University of Washington constructed a miniature DNA storage device smaller than a piece of rice that can read/write kilobytes of data to DNA in 2019. Such advancements will facilitate usage of DNA storage in applications requiring portability.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as DNA data storage technology requires significant capital investments and the technology is patented by existing major players.
Bargaining power of buyers: The bargaining power of buyers is moderate since there are few players operating in the niche market and buyers have limited options to choose from. However, falling sequencing costs are benefiting buyers.
Bargaging power of suppliers: Suppliers for DNA data storage have moderate to high bargaining power as providers of raw materials like oligonucleotides and enzymes have technical expertise and customers depend on them for proprietary technologies and solutions.
Threat of new substitutes: The threat of new substitutes is low at present as there are no direct substitute technologies that can store vast amounts of non-volatile data in a very compact and durable format like DNA. However, alternative archiving technologies pose a potential threat.
Competitive rivalry: The competitive rivalry is intense as the early mover advantages attract more entrants into the futuristic DNA storage market.
Geographical regions: North America is currently dominating the DNA data storage market in terms of value, given advancements in genomic research and the presence of leading players in the United States.
The Asia Pacific region is expected to be the fastest growing market during the forecast period, owing to rising government funding to develop DNA storage capabilities in countries like China and India.
What Are The Key Data Covered In This DNA Data Storage Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the DNA Data Storage’s growth between 2024 and 2031.
:- Accurate calculation of the size of the DNA Data Storage and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- DNA Data Storage Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of DNA Data Storage vendors
FAQ’s
Q.1 What are the main factors influencing the DNA Data Storage?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top DNA Data Storage companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the DNA Data Storage’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it