Personal and Entry Level Storage Market is expected to exhibit growth at a CAGR of 32.74% during the forecast period to reach USD 551.6 billion by 2032

Market Highlights:

The Global Personal and Entry Level Storage Market has been segmented based on product, storage system, technology, and vertical.

Personal and Entry Level Storage (PELS) Market is projected to grow from USD 57.21 Billion in 2024 to USD 551.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 32.74% during the forecast period (2024 - 2032).

By component, the global PELS market has been divided into cloud-based storage and non-cloud storage. The non-cloud storage segment is expected to account for the larger market share during the forecast period.

Based on storage system, the global personal and entry level storage market has been classified as direct-attached, cloud storage, network-attached storage (NAS), unified storage, and software-defined storage (SDS). The NAS segment is expected to be the larger market and cloud storage is expected to register the higher growth rate during the review period.

The technology sub-segments of the global PELS market are magnetic storage, solid-state storage. The solid-state storage segment is expected to dominate the market.

On the basis of vertical, the global PELS market has been divided into banking, financial services and insurance (BFSI), consumer goods & retail, telecommunications & IT, healthcare and life science, utilities, government and defense, education and research, media and entertainment, manufacturing, business and consulting, and others. The media and entertainment segment is expected to be the largest, while the healthcare segment is projected to register the highest CAGR during the forecast period.

Regional Analysis

A geographical analysis of the global personal and entry level data storage market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.

The North American market has been segmented into the US, Canada, and Mexico. The regional market is expected to account for the largest share in the global PELS market during the forecast period. The growth of the market in North America can be credited to the presence of a large number of PELS providers in the region. The US is the leading country-level market while Mexico market is projected to be the fastest-growing during the forecast period. The US is a mature market, however, it faces the challenge of increasing their overall carbon footprint due to the lack of ecofriendly (green) storage solutions.

Europe is expected to be the second-largest market in terms of market size; it has been divided into the UK, Germany, France, and the rest of Europe. High internet reach in the region is resulting in huge volumes of digital data generation which is driving market growth in Europe. The UK is the leading country-level market and the market in France is expected to register the highest growth rate during the forecast period.

The market in Asia-Pacific is expected to be the fastest-growing during the review period of 2018 to 2023. The regional market has been classified into China, Japan, India, and the rest of Asia-Pacific. The countries in the region such as Japan, China, Singapore, India, and South Korea are expected to adopt PELS rapidly during the forecast period.

Growing internet penetration, high volume of digital data, and affordable cost of the PELS devices are expected to boost the demand of PELS in the rest of the world regional segment. The regional market has been segmented into South America and the Middle East & Africa. These regions are expected to offer numerous opportunities to vendors as the majority of the countries are yet to adopt PELS.

Key Players:

The key players in the PELS market are Dell Inc. (US), Hewlett Packard Enterprise (HPE) Company (US) , NetApp, Inc. (US) , Hitachi Ltd. (Japan), IBM Corporation (US), Toshiba Corporation (Japan), Pure Storage, Inc. (US), Nutanix, Inc. (US), Tintri, Inc. (US), Simplivity Corp. (US), Scality, Inc. (US), Cisco Systems, Inc. (US), Western Digital Corporation (US), Seagate Technology (US) and Symantec Corporation (US).