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Leading Growth Driver in the Personal And Entry Level Storage (PELS) Market in 2025: Cloud Computing Services Fueling Expansion of The Personal and Entry-Level Storage (PELS) Market Driver's Influence
Personal And Entry Level Storage PELS Market Trends
Cloud computing services are gaining popularity, which should fuel the expansion of the personal and entry-level storage (PELS) market. These services provide hosted computing and IT resources over the internet on a pay-per-use basis. The appeal of cloud computing services lies in their flexibility, ease of access, data security, and reliability. They also contribute to personal and entry-level storage (PELS) by offering scalable, easily accessible and economical storage solutions, complete with data backup, recovery, and cooperation capabilities. According to Eurostat, the statistical agency of the European Union located in Luxembourg, 42.5% of European Union businesses procured cloud computing services for office software, data storage, and email in December 2023. Moreover, the proportion of European Union companies buying cloud computing services rose by 4.2 percentage points in 2023 as compared to 2021. Hence, the growing demand for cloud computing services is steering the personal and entry-level storage (PELS) market's growth. Digitalization's increasing role is also anticipated to fuel the personal and entry-level storage (PELS) market's growth. Digitalization refers to converting information, data, or physical objects into a digital format for easy, computer-friendly processing, storage, and transmission. The rising prominence of digitalization can be credited to boosted brand visibility and recognition, superior customer engagement, improved client service, and cost-efficient marketing. Personal and entry-level storage (PELS) facilitates digitalization by providing affordable, accessible and adaptable solutions that allow individuals and small businesses to safely store, manage and swiftly retrieve digital data. This aids in smooth digital workflows, better data accessibility, and effective information sharing crucial for digital transformation. As per a report by the goverment of the UK's website, Gov.UK, in February 2024, preliminary estimates for 2022 show the digital sector adding $171.25 million to the UK economy, making up 7.2% of the total UK gross value added (GVA). This signifies a marginal increment from 7.1% in 2021, at current prices. Therefore, the growing importance of digitalization is propelling the personal and entry-level storage (PELS) market's expansion.
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What Is the projected market size and growth rate for the personal and entry level storage (pels) market?
The market size for personal and entry level storage (PELS) has seen an impressive growth recently. It is projected to escalate from $39.7 billion in 2024 to $53.79 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 35.5%. The driving factors behind this substantial growth during the historic period are the burgeoning need for digital storage solutions, augmented digitalization, an increase in smartphones and tablets, advancement of internet of things (iota) devices, and an upsurge in e-commerce.
The market for personal and entry level storage (PELS) is predicted to experience significant growth in the coming years, with its size escalating to $180.15 billion in 2029, indicating a compound annual growth rate (CAGR) of 35.3%. This projected expansion during the forecast period is due to factors such as a heightened awareness surrounding data storage, a surging demand for mobile storage, the embracement of cloud storage, utilization of high-definition content, and the evolution of edge computing. Towards the forecast period, we can observe some notable trends like technological progress in storage solutions, storage services based on subscriptions, harmony with mobile devices, movement towards wireless connectivity, and storage capacities.
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What new trends are reshaping the personal and entry level storage (pels) market and its opportunities?
Major corporations active in the personal and entry-level storage market are launching products equipped with advanced technologies like the Hitachi virtual storage platform for efficient data management. The hybrid cloud data-enabled Hitachi Virtual Storage platform is a consolidated solution for seamless data management across different storage environments like block, file, object, and mainframe data. For example, the Japan-based conglomerate Hitachi Ltd. introduced the Hitachi Virtual Storage platform in October 2023 to address the obstacles encountered by IT executives managing data scaling and application modernization across intricate hybrid and multi-cloud infrastructures. Enabled by AI software, this platform features a unique control plane, data fabric, and data plane to consolidate discrete data silos. Designed with an emphasis on dependability, security, and sustainability, this platform significantly impacts users with diverse data storage requirements, including those in the personal and entry-level storage sector.
What major market segments define the scope and growth of 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 region dominates 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.
Which key market leaders are driving the 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
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What Is Covered In The Personal And Entry Level Storage (PELS) Global Market Report?
•Market Size Forecast: Examine the personal and entry level storage (pels) market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the personal and entry level storage (pels) market for a structured understanding.
•Key Players Overview: Analyze major players in the personal and entry level storage (pels) market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the personal and entry level storage (pels) market.
•Segment Contributions: Evaluate how different segments drive overall growth in the personal and entry level storage (pels) market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the personal and entry level storage (pels) market.
•Industry Challenges: Identify potential risks and obstacles affecting the personal and entry level storage (pels) market.
•Competitive Landscape: Review strategic developments in the personal and entry level storage (pels) market, including expansions, agreements, and new product launches.
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