Digital Storage Devices Market Growth Analysis, Trends and Forecast | Key Players are Western Digital Technologies, Inc (U.S.), Toshiba Corporation (Japan), Sony Corporation (Japan), Intel Corporation (U.S.) and Lenovo Group Ltd (China)

Market Highlights

The mounting amount of data that digital services and devices are generating is expected to increase the demand for the market for digital storage devices. The escalated demand for digital storage devices in banking, healthcare, and information technology sectors is anticipated to create new avenues for evolution in the upcoming period.

The surge in digital devices is boosting the need for digital storage devices around the world. Reports that review the information and communication technology industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is projected to accomplish a CAGR of 27 % while achieving revenues worth USD 11 billion in the coming years.

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Competitive Dashboard:

The rise in the flow of international transactions between nations is further inspiring the progress of the market. The synergies being created between supply and demand forces in the market is expected to induce further growth of the market. The fluctuations in the currency are expected to stabilize and thus create a favorable impact on the market. The uncertainty in the market is a critical factor that is driving the formulation of policies and plans that will be applied to drive market growth. The competitors are devoting their resources to ensure an optimum level of growth in the coming years. The competition level in the market is found to be conducive to the advancement of the players who are operating in the market. The need to capture a broader chunk of the profits is supporting the expansion of the market. The influence of governmental policies is motivating further development in the market.

The central players in the digital storage devices market are Toshiba Corporation (Japan), Sony Corporation (Japan), Western Digital Technologies, Inc (U.S.), Intel Corporation (U.S.), Samsung Electronics Co Ltd (South Korea), Lenovo Group Ltd (China), Seagate Technology PLC (U.S.), Teradata Corporation (U.S.), Transcend Information, Inc (Taiwan), Brocade Communications Systems, Inc. (U.S.), Kingston Technology Corporation, Inc (U.S.), International Business Machines Corporation (U.S.), EMC Corporation (U.S.), SanDisk Corporation (U.S.), NetApp, Inc. (U.S.), Hewlett Packard Company (U.S.), Netgear, Inc. (U.S.), Fujitsu Ltd. (Japan), Violin Systems (U.S.) to name a few.

Segmentation:

The segmentation of the digital storage device market is carried out on the basis of type, application, storage, usage, and region. On the bases of type, the digital storage device market is segmented into optical disk drives, solid state drives, magnetic disk drives, flash storage, and others. The flash storage is additionally segmented into memory card and USB storage. Based on the application, the digital storage device market is segmented into laptops, smartphone, personal computers, networking, and others. By storage, the digital storage device market is segmented into 8-128 Gb, 512 Gb to 2 Tb, 128-512 Gb, up to 8 Gb, 2 Tb and above. Based on the usage, the digital storage device market is segmented into enterprise usage and individual usage. Based on the region, the digital storage device market is segmented into Europe, North America, Asia Pacific, and the rest of the world.

Regional Analysis:

On the basis of geography, the market is studied for North America, Europe, Asia Pacific, and rest of the world. Among all the regions, the market is dominated by North America providing digital storage devices for laptops, desktops, and portable storage devices for laptops, desktops, and portable storage. These vendors comprise a large market of storage device manufacturers. One of the major factors contributing to the growth of digital storage devices is the higher adoption of flash storage and rising penetration of smartphones with higher memory.

On the other hand, Asia Pacific is expected to show the highest growth considering developments in the semiconductor industry, and rising smartphone penetration rate in countries like India and China. Many companies in Asia Pacific are expanding their product portfolio by carrying out research into the SoC integration, and also by shifting their business onto the cloud, requiring additional storage requirement.

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