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Global Personal And Entry Level Storage (PELS) Industry Outlook 2025-2029: Market Set to Cross $163.47 Billion Milestone
Personal And Entry Level Storage (PELS)
Personal And Entry Level Storage (PELS) Market Size Growth Forecast: What to Expect by 2025?
The market size of personal and entry level storage (pels) has seen a dramatic increase in the past few years. It is predicted to expand from $39.7 billion in 2024 to $53.44 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 34.6%. The growth seen in the previous era can be traced back to the escalating demand for digital storage solutions, an increase in digitalization, the widespread use of smartphones and tablets, internet of things (iota) devices, and the growth of e-commerce.
How Will the Personal And Entry Level Storage (PELS) Market Size Evolve and Grow by 2029?
Predictions indicate that the personal and entry level storage (pels) market is poised for substantial growth in the coming years. The market is poised to swell to a substantial $163.47 billion by 2029, with a compound annual growth rate (CAGR) of 32.3%. This projected growth in the forecast period can be credited to an increasing awareness of data storage, a rising demand for portable storage and adoption of cloud storage. Additionally, the escalating use of high-definition content and the progression of edge computing contribute to this growth. Key trends expected in the forecast period include advances in storage solutions technology, subscription-based storage services, integration with mobile technology, a transition towards wireless connectivity, and expanded storage capacities.
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What Drivers Are Propelling the Growth of Personal And Entry Level Storage (PELS) Market Forward?
The surge in the need for cloud computing services is predicted to drive the expansion of the personal and entry-level storage (PELS) market in the future. These hosted computing services and IT resources, provided via the internet on a pay-as-you-go basis, are gaining traction due to their flexibility, accessibility, robust data security, and reliability. They enhance PELS by offering scalable, accessible, and affordable storage solutions, complete with data backup, recovery, and collaboration capabilities. Eurostat, the statistical agency of the European Union based in Luxembourg, stated that in December 2023, 42.5% of businesses in the EU invested in cloud computing services, primarily for office software, file storage, and email. Moreover, in 2023, the proportion of EU companies buying cloud computing services saw a rise of 4.2 percentage points compared to 2021. Hence, the escalating demand for cloud computing services is fueling the growth of the personal and entry-level storage (PELS) market.
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Which Emerging Trends Are Transforming the Personal And Entry Level Storage (PELS) Market in 2025?
Leading enterprises in the personal and entry-level storage market are innovating and incorporating advanced technologies such as the Hitachi virtual storage platform to control their data efficiently. The Hitachi virtual storage platform one epitomizes a hybrid cloud data platform, serving as a consolidated hybrid storage unit that simplifies data administration across diverse storage landscapes including block, file, object, and mainframe data. For example, in October 2023, Hitachi Ltd., a Japan-based multinational conglomerate, introduced the Hitachi virtual storage platform to tackle the obstacles encountered by IT heads when they scale data and modernize applications over intricate hybrid and multi-cloud infrastructures. It possesses a solitary control plane, data fabric, and data plane, all overseen by AI-facilitated software to consolidate detached data silos. The architecture of this platform prioritizes dependability, security, and sustainability, thereby boosting its impact on customers with varying data storage needs, including those on the personal and entry-level storage segment.
What Are the Key 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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Who Are the Key Players Shaping the Personal And Entry Level Storage (PELS) Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.
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