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A Deep Dive into Personal And Entry Level Storage (PELS) Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Personal And Entry Level Storage PELS Market
The personal and entry-level storage (PELS) market has seen exponential growth in recent years. It will grow from $39.7 billion in 2024 to $53.79 billion in 2025, at a CAGR of 35.5%. This growth is due to the rising demand for digital storage solutions, increasing digitalization, the proliferation of smartphones and tablets, the expansion of IoT devices, and the growth of e-commerce.
The personal and entry-level storage (PELS) market is anticipated to grow exponentially, reaching $180.15 billion by 2029 with a CAGR of 35.3%. Growth drivers include increased awareness of data storage, rising demand for portable storage, cloud storage adoption, increased use of high-definition content, and the development of edge computing. Major trends include technological advancements in storage solutions, subscription-based storage services, integration with mobile devices, wireless connectivity, and growing storage capacities.
What Is Contributing to the Growth of the Personal And Entry Level Storage (PELS) Market?
The increasing demand for cloud computing services is set to drive the growth of the personal and entry-level storage (PELS) market. Cloud computing enables businesses to access computing resources over the Internet on a pay-as-you-go basis, providing advantages such as scalability, security, and accessibility. Cloud services enhance PELS by offering flexible, cost-efficient storage solutions with backup, recovery, and collaborative features. For instance, in December 2023, Eurostat, the statistical office of the European Union based in Luxembourg, reported that 42.5% of EU businesses had adopted cloud computing services, mainly for office applications, data storage, and email. Moreover, from 2021 to 2023, the proportion of firms utilizing cloud services increased by 4.2 percentage points. As a result, the growing adoption of cloud computing is driving the expansion of the PELS market.
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Which Key Market Leaders Are Driving Personal And Entry Level Storage (PELS) Industry Growth?
Major companies operating in the personal and entry level storage (PELS) market are Samsung Electronics Co. Ltd., Dell Technologies Inc., Hitachi Ltd., Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., Fujitsu Limited, Micron Technology, Hewlett Packard Enterprise Company, Toshiba Corporation, Western Digital Corporation, Asustek Computer Inc., Seagate Technology Holdings plc, NetApp Inc., Pure Storage Inc., Nutanix Inc., ADATA Technology Co. Ltd., Netgear Inc., PNY Technologies Inc., Tintri Inc., DataCore Software, Drobo Inc., Kingston Technology Company Inc., Scality Inc., Apricorn Inc., Glyph Production Technologies, TerraMaster Technology Co. Ltd., Thecus Technology Corporation
What Are the Emerging Trends in the Personal And Entry Level Storage (PELS) Industry?
Major companies in the personal and entry-level storage market are enhancing their product offerings with advanced technologies like the Hitachi Virtual Storage Platform to streamline data management. This hybrid cloud data platform provides a unified solution for handling diverse storage environments, including block, file, object, and mainframe data. For example, in October 2023, Hitachi Ltd., a Japan-based conglomerate, introduced the Hitachi Virtual Storage Platform to help IT leaders scale data and modernize applications within intricate hybrid and multi-cloud infrastructures. Equipped with a single control plane, data fabric, and data plane powered by AI-driven software, this platform consolidates data silos while prioritizing reliability, security, and sustainability, catering to various storage requirements, including personal and entry-level scales.
What Are the Main Segments in the Personal And Entry Level Storage (PELS) Market?
The personal and entry level storage (PELS) market covered in this report is segmented -
1) By Product: Cloud, Non-Cloud
2) By Technology: Serial Attached SCSI (SAS), Direct Attached Storage (DAS), Network Attached Storage (NAS), Cloud Storage Technology, Other Technologies
3) By End-Use Industry: Financial Services, Media And Entertainment, Healthcare And Life Sciences, Public Sector, Other End-Use Industries
Subsegments:
1) By Cloud: Public Cloud, Private Cloud, Hybrid Cloud
2) By Non-Cloud: External Hard Drives, Solid-State Drives (SSDs), USB Flash Drives, Network Attached Storage (NAS)
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Which Geographic Area Leads the Personal And Entry Level Storage (PELS) Market?
North America was the largest region in the personal and entry level storage (PELS) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal and entry level storage (PELS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Personal And Entry Level Storage (PELS) Global Market Report?
- Market Size Analysis: Analyze the Personal And Entry Level Storage (PELS) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Personal And Entry Level Storage (PELS) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Personal And Entry Level Storage (PELS) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Personal And Entry Level Storage (PELS) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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