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The personal and entry level storage (PELS) market is going through constant changes synchronously with the requirements of consumers and their consistency with technological progression. Besides the storage space demand among the individual users and small companies that grows with them wishing to store their data is another dimension of the new markets. PELS models generally come in the form of external hard disk drives, USB flash drives, and Network attached storage (NAS) devices suitable for mainstream personal and basic level users. Content generation technology and the use of digital channels are experiencing rapid growth, which is one of the most important factors in market development. Into the motivational angle of this essay, I would point out the increasing role of people who take more and more photos, videos and documents and as a result the need for the information storage through the secure and reliable ways becomes critically important. PELS is aimed at the tackling the issue of the necessity of affordable and friendly personal electronic storage by offering such an option to smaller business owners and individuals who will have a possibility to store and arrange their digital assets any time they need.
Finally, the existing arena is still open to new players while this part continues to establish the main role of data security and backup procedures. Today, along with increased knowledge about the benefits of data protection, customers require PELS to possess both sufficient storage feature and strong backup feature. External HDDs with automatic backup function, the cloud integration and the mirrored nature of NAS devices are ways in which the market caters for its customers' needs of having their data replicated in more than one location for the purpose of data redundancy and security. The providers of PELS together with the help of the users who demand robust, generic, but at the same time straightforward backup functionality, feel the urge to deliver more solid options.
The changing nature of market dynamics also reveals the main shift to miniaturised and portable media storage devices. USB flash drives and external SDDs have become one of the mainstream practice of people who would want to have their data anywhere with them at any place and time because of their mobility and convenience. In this era of increasingly mobile workforce and an enhanced use of content production, the targeted consumers are media and artists who certainly cannot compromise storage with speed or reliability.
In addition, the industry deployment is encompassed by various technologies like USB Type-C and fast speed transmission options. USB Type C (UT), which, on the one hand, is based on a reversible design and works much faster than its previous versions, has turned into a standard feature in the typical setup of PELS (personal electronic limited stuff), therefore, the overall satisfaction is increased. Besides, the fact that new and updated interface technology like Thunderbolt and NVMe are used in external storage devices helps them to be much quicker in transferring files and this is related to the increasing demand for instant access to big files and multimedia content.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 41.4Billion Billion |
| Growth Rate | 38.20% (2023-2032) |
Personal Entry Level Storage Market Highlights:
Personal and Entry Level Storage (PELS) Market Overview
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). Additionally, the market size for Personal and Entry Level Storage (PELS) was valued at USD 41.4 billion in 2023.
Significant growth in digital data, as well as an increase in the number of electronic devices is the key market drivers enhancing the market growth.
Figure 1: Personal and Entry Level Storage (PELS) Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Personal and Entry Level Storage (PELS) Market Trends
Rising need for digital storage solutions propels market growth
Market CAGR for personal and entry level storage (PELS) is being driven by the rising need for digital storage solutions. The Personal and Entry Level Storage Market has grown significantly in recent years, owing to a variety of factors. One of the primary causes of this expansion is the increased need for digital storage solutions. With the increasing volume of data generated by individuals and businesses, there is a growing demand for dependable and secure storage solutions. Furthermore, the growing acceptance of cloud-based storage solutions has helped to the expansion of the Personal and Entry Level Storage Market. Cloud-based storage systems provide various advantages, such as scalability, accessibility, and cost-effectiveness, which have led to their widespread acceptance.
The increased popularity of multimedia content such as films, music, and images has led to the rise of the Personal and Entry Level Storage Market. With the increasing amount of multimedia content being created and exchanged, there is a growing demand for high-capacity storage systems to store and manage this content. In addition, the increasing use of smartphones, tablets, and other mobile devices has led to the growth of the Personal and Entry Level Storage Market. With the increasing popularity of these gadgets, there is a growing demand for portable and dependable storage solutions that can be used with these devices.
Aside from increased demand for digital storage solutions, technological improvements have been a major driver of the Personal and Entry Level Storage Market. With the growing demand for high-capacity and dependable storage solutions, manufacturers are investing extensively in research and development activities to create new and creative storage technologies. For example, the creation of solid-state drives (SSDs) has been a significant technological improvement in the storage business. SSDs provide various advantages over traditional hard disc drives (HDDs), including quicker data transfer speeds, lower power consumption, and greater endurance. As a result, SSDs have acquired universal acceptance in the Personal and Entry Level Storage Markets.
Furthermore, network-attached storage (NAS) devices have been a significant technological innovation in the storage business. NAS systems provide various advantages, including centralized storage, simple data sharing, and remote access, which has led to their extensive use in home and enterprise storage applications. Moreover, advances in cloud-based storage technologies have aided the growth of the Personal and Entry Level Storage Market. Cloud-based storage systems provide various advantages, including scalability, accessibility, and cost-effectiveness, which has led to their widespread use.
Finally, storage technology improvements such as SSDs, NAS systems, and cloud-based storage solutions have been a crucial driver of the Personal and Entry Level Storage Market. Manufacturers are investing substantially in R&D to create new and creative storage technologies to fulfill the growing need for high-capacity and dependable storage solutions.
Personal and Entry Level Storage (PELS) Market Segment Insights
Personal and Entry Level Storage (PELS) Product Insights
The Personal and Entry Level Storage (PELS) Market segmentation, based on Product includes. Cloud, Non-Cloud. The cloud category accounts for the majority of the Personal and Entry Level Storage Market, because of its multiple advantages, including as ease of use, scalability, and low cost. Furthermore, cloud storage allows users to access their data from any location with an internet connection, making it ideal for personal and entry-level users. Finally, cloud storage companies often give a variety of storage options and price plans, allowing users to easily pick a solution that suits their individual demands and budget.
Personal and Entry Level Storage (PELS) Storage System Insights
The Personal and Entry Level Storage (PELS) Market segmentation, based on Storage System, includes Direct-Attached, Cloud, Network-Attached Storage, Unified, Software-Defined. The direct-attached segment of the Personal and Entry Level Storage Market is the fastest growing, because to its excellent performance and minimal latency. External hard drives and USB flash drives, for example, provide rapid data transfer speeds and minimal latency, making them suitable for users that need to swiftly access and transfer huge volumes of data. Furthermore, Direct-Attached storage devices are often simple to use and require little setup, making them a popular choice for home and entry-level users.
Personal and Entry Level Storage (PELS) Technology Insights
The Personal and Entry Level Storage (PELS) Market segmentation, based on Storage System, includes Magnetic, Solid-state. The magnetic segment now leads the Personal and Entry Level Storage Market, because of its lower cost and larger storage capacity. Magnetic storage devices, such as hard disc drives (HDDs), are commonly utilized in personal and entry-level storage due to their low cost and great storage capacity. Furthermore, magnetic storage systems are still commonly employed in enterprise storage due to their great capacity and low cost per gigabyte. However, the solid-state segment is fast expanding and is likely to gain market share in the next years.
Figure1: Personal and Entry Level Storage (PELS) Market, by Technology, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Personal and Entry Level Storage (PELS) Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominates the market, because of various variables, including a vast customer base, a strong economy, and a highly developed technological industry. Many of the world's largest technology businesses are headquartered in North America, including Apple, Microsoft, and Google.
Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: PERSONAL AND ENTRY LEVEL STORAGE (PELS) MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Personal and Entry Level Storage (PELS) Market accounts for the second-largest market share because of its robust economy, advanced technology industry, and vast customer base. Further, the German Personal and Entry Level Storage (PELS) Market held the largest market share, and the UK Personal and Entry Level Storage (PELS) Market was the fastest growing market in the European region
The Asia-Pacific Personal and Entry Level Storage (PELS) Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of its enormous and rapidly rising customer base, as well as its highly developed technological industry. Moreover, China’s Personal and Entry Level Storage (PELS) Market held the largest market share, and the IndianPersonal and Entry Level Storage (PELS) Market was the fastest growing market in the Asia-Pacific region.
Personal and Entry Level Storage (PELS) Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Personal and Entry Level Storage (PELS) Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Personal and Entry Level Storage (PELS)industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Personal and Entry Level Storage (PELS) industry to benefit clients and increase the market sector. In recent years, the Personal and Entry Level Storage (PELS) industry has offered some of the most significant advantages to medicine. Major players in the Personal and Entry Level Storage (PELS) Market, including Tintri, Inc. (US), Simplivity Corp. (US), Scality, Inc. (US), Cisco Systems, Inc. (US), Western Digital Corporation (US), Seagate Technology (US) and Symantec Corporation (US) and others, are attempting to increase market demand by investing in research and development operations.
Toshiba Corporation is a Japanese multinational enterprise based in Minato, Tokyo. Its diverse products and services include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors, hard disc drives (HDD), printers, batteries, lighting, and IT solutions such as quantum cryptography, which was developed at Toshiba Europe's Cambridge Research Laboratory and is now commercialized. In 2020, Toshiba announced a 16TB hard disc drive, the biggest capacity hard drive available at the time. This drive is intended for usage in data centres and other business applications. It features Toshiba's helium-sealed technology with a spindle speed of 7200RPM.
SanDisk is a Western Digital brand for flash memory goods such as memory cards and readers, USB flash drives, solid-state drives, and digital audio players. Western Digital purchased the original company, SanDisk Corporation. SanDisk was founded in 1988 by Eli Harari, Sanjay Mehrotra, and Jack Yuan, and was incorporated as SunDisk at the time. Eli Harari, a co-founder of SanDisk, created the Floating Gate EEPROM, which demonstrated the practicality, dependability, and endurance of semiconductor-based data storage. In 2020, SanDisk introduced the world's highest capacity microSD card, a 400GB microSD card. This card is intended for usage in smartphones and other mobile devices requiring large amounts of storage. The card supports read and write rates of up to 100MB/s and 90MB/s, respectively.
Key Companies in the Personal and Entry Level Storage (PELS)market include
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Dell Inc. (US)
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Hewlett Packard Enterprise (HPE) Company (US)
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NetApp Inc. (US)
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Hitachi Ltd. (Japan)
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IBM Corporation (US)
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Toshiba Corporation (Japan)
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Pure Storage Inc. (US)
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Nutanix Inc. (US)
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Tintri Inc. (US)
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Simplivity Corp. (US)
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Scality Inc. (US)
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Cisco Systems Inc. (US)
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Western Digital Corporation (US)
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Seagate Technology (US)
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Symantec Corporation (US)
Personal and Entry Level Storage (PELS) Industry Developments
In April 2020, Western Digital will release the WD Black SN850 NVMe SSD. This SSD provides gamers and content developers with outstanding performance and speed. It has a PCIe Gen4 interface and storage sizes ranging from 500GB to 2TB. The drive can read at up to 7,000MB/s and write at up to 5,300MB/s, making it one of the fastest SSDs on the market.
In June 2019, Seagate released the IronWolf 510 NVMe SSD. This SSD is optimized for usage in NAS systems, with rapid data transfer speeds and long endurance. It features a PCIe Gen3 x4 interface and capacities ranging from 240GB to 1.92TB. The drive supports read and write speeds of up to 3,150MB/s and 1,000MB/s, respectively.
In September 2019, Samsung revealed the PM1643, the world's largest SSD with a storage capacity of 30.72TB. This drive is intended for use in enterprise applications that demand large amounts of storage. It employs Samsung's V-NAND technology and provides read and write speeds of up to 2,100MB/s and 1,700MB/s, respectively.
Personal and Entry Level Storage (PELS) Market Segmentation
Personal and Entry Level Storage (PELS) Market By Product Outlook
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Cloud
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Non-Cloud
Personal and Entry Level Storage (PELS) Market By Storage System Outlook
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Direct-Attached
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Cloud
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Network-Attached Storage
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Unified
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Software-Defined
Personal and Entry Level Storage (PELS) Market By Technology Outlook
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Magnetic
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Solid-state
Personal and Entry Level Storage (PELS)Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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