DNA-based Data Storage Platform Market Segmented By Cloud-based, On-premises and Integration & Implementation, Consulting Services, Support & Maintenance Solution
Industry: Semiconductor Electronics
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Report Type: Ongoing
Report ID: PMRREP32978
DNA-based data storage is the process of encoding and decoding information related to DNA from synthesized strands of DNA. DNA-based storage offers long life as the DNA is placed in cold, dry and dark condition and DNA-based storage system are compact than magnetic tape or hard drive storage system.
According to latest research, DNA-based Data Storage Platform market is estimated to grow with a expected CAGR of 25%. The DNA-based Data Storage Platform market is witnessing growth during the years, owing to increasing demand for data storage.
Due to limitations in electronic computer the era of DNA computing has started. The main limitation identified in big data storage is the volume of data that can be stored in electronic computer and the speed thresholds that can be reached and governed by physical characteristics of computer.
DNA computing helps in addressing the big data storage limitation by solving computational problems engaging molecule manipulations while discovering natural computational models leading to big data analytics and storage in DNA.
DNA Computing consumes billion time less energy than electronic computers and also the storage space that is needed to store information in DNA is trillion times less than that of the electronic computers.
As million and trillions of molecules perform chemical reaction parallelly DNA computing offer parallelism at a high level, thereby increasing demand for DNA computing is driving the growth of DNA-based data storage platform.
The demand for digital data storage is increasing and current technologies are insufficient to address the challenge of data storage and due to this the demand is increasing for DNA-based data storage. DNA offers sustainable, abundant and stable data storage solution.
DNA is scalable, error free and random access data storage system. As the data storage crisis worsens in the coming years, DNA based data storage will gain traction to store huge amount of data.
Storing data in DNA has benefits like storage density and stability and over storage in traditional media. Traditional data storage forms like flash drive, HDD, magnetic tapes have limited term usage as they degrade over time but DNA is extremely stable molecule with half-life of over 500 years.
As compared to traditional data storage DNA based storage is abundant and scalable. However, the demand for DNA-based storage platform is increasing as DNA-based data storage is gaining attraction by the companies for storing huge amount of data.
North America region is estimated to have largest market share in 2020 owing to the large volume of data generated by several industries and the increasing need for secure and economic solutions for storing data. Moreover, the DNA-based data storage has high presence in the region and it is driving the growth of DNA-based data storage platform in the region.
North America, being the early adopter of advanced data storage technologies led to an increasing demand for reliable, cost efficient and secure storage infrastructure. However, due to this reason the demand for DNA-based data storage platform is increasing in the region.
East Asia region is estimated to witness high growth during the coming years owing to increasing number of small and medium enterprises across various industries in the countries like China and Japan. As the number of enterprises are increasing the need for reliable and secure data storage infrastructure is increasing in the region.
Also, growing digitalization and increase in volume of unstructured data by various industries is creating opportunities for DNA based data storage platform players in the region.
Some of the leading DNA-based Data Storage Platform providers include
These vendors are adopting different strategies for enhancing the customer base and their product offering locally and globally. Companies are also investing millions of dollars into research and development activities to fulfill the unmet needs of their customers.
Furthermore, many companies are focusing on inorganic strategies by acquiring small and mid-sized organizations present in this market.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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