Growth Drivers
Increasing Applications of DNA Data Storage – In end-use industries such as media and entertainment, healthcare and pharmaceuticals, government and defense, financial services and insurance, banking, and others, DNA data storage has become increasingly popular. DNA storage has the potential to be more affordable, energy-efficient, and durable. The need for data storage is growing quickly every day, and it is expected to surge the growth of the market. According to the International Data Corporation, 64 zettabytes of data would have been generated globally in 2020. The demand for storage is increasing by 50% each year.
Increasing Investment to Enhance Data Storage Capacity – It is predicted that increasing organizational spending on expanding data storage capacity will spur market growth in the upcoming years. For instance, to solve the problems of traditional electronic media, a Boston-based firm called Catalog was established in 2016 by MIT researchers. Catalog is working to produce an energy-efficient, cost-competitive, and more secure data storage and computation platform utilizing synthetic DNA. Similarly, in November 2022, a seed investment of USD 5.2 million was made in Biomemory, a start-up specializing in synthesizing and storing DNA data, advancing its technology.
Increasing Need for Long-Term Data Storage – The world's storage capacity is now unable to keep up with the demand for data storage. A reliable, resource-efficient, energy-efficient, and environmentally friendly data storage solution is provided by the DNA. According to International Data Corporation, the need for data storage will reach around 9 zettabytes (ZB) by 2025.
Growing Environmental Benefits of DNA Storage – DNA-based storage methods are less harmful to the environment than servers in data centers. It uses zero energy once the information has been transformed into DNA. In addition, data stored in DNA might theoretically persist for more than 500,000 years. In contrast, traditional magnetic hard drives must be replaced after about ten years because of wear and tear.
Increasing Product Launches and Development – Rising partnerships and product development also increase the market. For instance, Los Alamos National Laboratory researchers have developed a critical enabling technology for molecular storage. Adaptive DNA Storage Codex (ADS Codex) is a software that converts data files from the four-letter code biology knows to the binary language of zeros and ones that computers comprehend.
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
75.80% |
Base Year Market Size (2024) |
USD 130.09 million |
Forecast Year Market Size (2037) |
USD 199.29 billion |
Regional Scope |
|
Author Credits: Abhishek Verma
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