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Consumer Data Storage Devices Market predicts favorable growth and forecast till 2025

12-07-2017 06:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Persistence Market Research

/ PR Agency: Persistence Market Research
Consumer Data Storage Devices Market predicts favorable growth

The growth of these devices is also expected to be fueled by the growing proliferation of such devices among multiple users.

According to a recent market report published by Persistence Market Research titled “Consumer Data Storage Devices Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025),” the Consumer Data Storage Devices market was valued at US$ 14,250.6 Mn in 2016 and is projected to reach US$ 18,796.5 Mn by 2025 end, registering a CAGR of 3.3% from 2017 to 2025. Rising adoption of smartphones is one of the major factors driving market revenue growth of Consumer Data Storage Devices during the forecast period. The use of external storage devices is on the rise among consumers, as the number of connected devices per user increases. The adoption of smartphones is fueling the growth for memory cards. Although the consumer data storage devices market is combatting competition with cloud storage, external storage devices are generally preferred for the storage of large files and documents of high value.

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Segmental Analysis & Forecast

The Consumer Data Storage Devices market is categorized on the basis of type & capacity. On the basis of type, the market is segmented as Hard Disk Drive, Solid State Drive, Memory Card, USB Flash Drive and Optical Disk. Of these segments, the SSD segment is anticipated to register a CAGR of 7.8% during the forecast period.

The Capacity Segment is divided into Hard Disk Drive with sub segments

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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