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Global Personal And Entry Level Storage (PELS) Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Personal And Entry Level Storage (PELS) Market
What Is the Personal And Entry Level Storage (PELS) Market Size and Projected Growth Rate?
The scale of the personal and entry level storage (PELS) market has seen massive growth in the past few years. It is forecasted to increase from $39.7 billion in 2024 to $53.79 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 35.5%. The substantial growth during the historical period can be associated with the escalating demand for digital storage solutions driving market growth, amplified digitalization, the rise in the use of smartphones and tablets, the expansion of internet of things (iota) devices, and the growth of e-commerce.
The market for personal and entry level storage (PELS) is projected to experience a skyrocketing rise in coming years, increasing to $180.15 billion in 2029 with a compound annual growth rate (CAGR) of 35.3%. The predicted expansion during the forecast duration can be linked to the growing knowledge about data storage, increasing demand for handheld storage devices, the adoption of cloud storage, the surge in the use of high-definition content, and the growth of edge computing. The forecast period will also see some significant trends such as advancements in storage solution technologies, subscription models for storage services, compatibility with mobile gadgets, a shift towards wireless connectivity, and storage capacities.
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What Are the Major 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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What Are The Driving Personal And Entry Level Storage (PELS) Market Evolution?
The anticipated surge in cloud computing services consumption is believed to spur the expansion of the personal and entry-level storage (PELS) market. Such services, which include the provision of hosted computing services and IT resources via the internet at a pay-per-use pricing, are gaining popularity due to their flexibility, accessibility, data safety and dependability. They present an enhancement to the personal and entry-level storage (PELS) landscape by offering scalable and affordable storage solutions equipped with data recovery, back-up, and collaborations features. As proof, Eurostat, the statistical office of the European Union located in Luxembourg, reported that 42.5% of EU businesses utilized cloud computing services mainly for office software, file storage, and email, as of December 2023. Furthermore, the proportion of EU companies availing cloud computing services grew by 4.2 percentage points between 2021 and 2023. Consequently, the continued rise in demand for cloud computing services is seen to fuel the advancement of the personal and entry-level storage (PELS) market. The escalating significance of digitization is projected to further drive the development of the personal and entry-level storage (PELS) market. Digitization, or the transition of information, data or physical items into a digital format for easier processing, storage, and transmission by computers, is becoming more critical due to various factors such as enhanced brand awareness, augmented customer engagement, improved customer support, and economical marketing strategies. Personal and entry-level storage (PELS) thrives through digitization, extending easily accessible, affordable, and scalable solutions facilitating the secure storage, management, and rapid retrieval of digital data. This allows for smooth digital workflows, greater data accessibility and efficient data sharing essential for digital conversion. Evidence of this is found in a February 2024 report published by the gov.UK, a government-owned website in the UK, which states that provisional estimates from 2022 showed the digital sector's contribution to the UK economy was $171.25 million, making up 7.2% of the UK's total gross value added (GVA). This is a minor increase from 7.1% in 2021, using present rates. Therefore, the visibly growing significance of digitization catalyzes the expansion of the personal and entry-level storage (PELS) market.
Which Firms Dominate The Personal And Entry Level Storage (PELS) Market Segments?
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 Trends Are Expected to Dominate the Personal And Entry Level Storage (PELS) Market in the Next 5 Years?
Leading enterprises in the personal and entry-level storage sector are creating solutions utilizing cutting-edge technology like the Hitachi virtual storage platform to effectively handle their data. This platform, which is essentially a hybrid cloud data platform, offers a combined hybrid storage platform, simplifying data management across numerous storage settings such as block, file, object, and mainframe data. For example, Hitachi Ltd., a conglomerate based in Japan, rolled out the Hitachi virtual storage platform in October 2023. This was to tackle the hurdles IT leaders encounter while escalating data and modernizing applications within intricate hybrid and multi-cloud setups. This platform has a singular control plane, data fabric, and data plane, all overseen by AI-powered software to consolidate isolated data silos. The construction of this platform prioritizes dependability, security, and sustainability, thereby amplifying its impact on customers with diverse data storage requirements, including those at the personal and entry-level storage spectrum.
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Which Is The Largest Region In 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Personal And Entry Level Storage (PELS) Market?
2. What is the CAGR expected in the Personal And Entry Level Storage (PELS) Market?
3. What Are the Key Innovations Transforming the Personal And Entry Level Storage (PELS) Industry?
4. Which Region Is Leading the Personal And Entry Level Storage (PELS) Market?
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