Personal And Entry Level Storage (PELS) Market To Perceive Substantial Growth During 2022 - 2029

The PLES market is also driven by the high data generation along with the need for data backup to address security concerns. Additionally, the cost of these storage devices is also not very high; therefore, industry verticals are encouraged to opt for these devices, which are another driver for the market. Information stored in these devices can be easily accessed from any place and at any time, which enhances the market growth.

Moreover, with the economic recovery after the global slowdown, there is a rise in the number of enterprises, which are potential new customers for the market. More enterprises would employ more number of people and data generation would rise; therefore, to store and mange this data PLES would be required.

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However, concern about data security is a key restraint for the market growth as is the case with other data storage market. Security concerns lead to less adoption of technologies, which limits the market growth. Additionally, the data explosion has led to rising demand for big data analysis and cloud storage solutions.

This growth in storage capacity has dramatically increased energy consumption due to the lack of environmentally-friendly storage solutions, which is one of the restraints for market growth. Market players are engaged in research and development to overcome this challenge.

Some of the key companies profiled in this report are EMC Corporation, Dell Inc., International Business Machines Corporation (IBM), Hewlett-Packard Company, Cisco Systems Inc., Seagate Technology, Western Digital Corporation, Toshiba Corporation, Hitachi Data Systems (HDS), and Symantec Corporation.

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