Personal and Entry level Storage Market is expected to Grow with a CAGR of 21.45% through 2029
The Personal and Entry Level Storage market is expected to grow owing to the increasing demand for affordable, scalable storage solutions due to data proliferation, rising media consumption, and the need for secure, accessible data management throughout the forecast period.
According
to TechSci Research report, “Personal and Entry level Storage Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2029”, the Global Personal and Entry level Storage Market was valued at USD 60.21 billion in 2023 and is expected to grow at a CAGR of 21.45% during the forecast period. The Personal and Entry Level Storage market is experiencing a significant shift toward cloud-based solutions, driven by consumer preferences for convenience, accessibility, and scalability. As individuals and small businesses generate vast amounts of data from personal devices such as smartphones, cameras, and tablets, the need for reliable storage options has surged. Cloud storage offers a compelling alternative to traditional physical storage devices like external hard drives or USB drives, as it provides virtually limitless storage space, instant access from anywhere, and secure backup. With cloud storage providers offering user-friendly platforms, low-cost plans, and the ability to sync across multiple devices, adoption is growing rapidly. Additionally, many cloud storage solutions now come with enhanced collaboration features, making them particularly attractive to small businesses and remote workers who need to share files in real-time. Services like Google Drive, Dropbox, and iCloud have become household names, with their subscription-based models enabling users to scale their storage needs as they grow. As consumers and businesses alike continue to embrace mobile-first lifestyles, the flexibility and on-demand nature of cloud storage is expected to remain a dominant trend in the Personal and Entry Level Storage market.
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the "Global Personal and Entry level Storage Market”
Based on the Technology,
Directly Attached Storage segment held the largest Market share in 2023. The
Personal and Entry Level Storage Market within the Directly Attached Storage
(DAS) segment is experiencing significant growth driven by several key factors.
The increasing need for data storage across various personal and small business
applications is a primary driver. As individuals and small enterprises generate
and store more data, ranging from documents to high-resolution images and
videos, the demand for affordable, reliable, and easy-to-use storage solutions
has surged. DAS, which provides direct connection to a single computer or
device, offers a cost-effective and simple solution for users who do not
require network storage or complex management systems. This simplicity and
lower cost compared to network-attached storage (NAS) and storage area networks
(SAN) make DAS a preferred choice for many personal users and small businesses
with limited IT infrastructure. Additionally, the proliferation of data-driven
activities, such as content creation, gaming, and media consumption, has led to
a dramatic rise in data storage requirements, further accelerating the demand
for DAS solutions. growing adoption of high-capacity external drives and USB
storage devices is driving the market. With the increasing availability of
external hard drives and solid-state drives (SSDs) offering large storage
capacities, users are opting for DAS as a portable, hassle-free solution for
expanding their storage without needing an internet connection or network
setup. The increasing affordability of storage devices, coupled with
advancements in technology, has made it easier for personal and entry-level
users to invest in high-capacity DAS systems. As users accumulate more data, especially
in the digital age where high-definition video, extensive media libraries, and
large databases are commonplace, DAS offers a practical solution for storing
and accessing this data with minimal latency and maximum control.
Another
important driver is ease of use and set-up. DAS devices typically require no
complex configuration and can be used immediately after being plugged in,
making them highly attractive to non-technical users. The self-contained nature
of DAS devices, where the storage unit is directly connected to the device,
also ensures that users maintain complete control over their data, which is a
critical consideration for personal and small business users concerned with
security and privacy. With increasing concerns around cloud data security and
data breaches, many users prefer the control and security that DAS provides,
allowing them to store sensitive data locally. The growth of digital content
creation and media editing in both professional and consumer environments is a
significant contributor. Personal users involved in photography, video editing,
and other creative pursuits require high-capacity storage solutions for raw
files, project files, and software installations. The rising popularity of
gaming has also bolstered demand for DAS, with gamers requiring large storage
spaces for high-definition games and downloadable content. As these trends
continue, the Personal and Entry Level Storage Market in the DAS segment is
expected to maintain its growth trajectory, driven by the increasing need for
secure, high-capacity, and easily accessible storage solutions. The combination
of affordability, ease of use, and the growing digital storage needs of
consumers and small businesses will continue to be key factors propelling the
DAS segment forward in the personal and entry level storage market.
In terms of region, Asia-Pacific is the fastest growing region in the Global Personal and Entry level Storage Market, driven by rapid digitalization, increasing internet penetration, and a growing reliance on data storage for personal and small-scale business needs. As disposable incomes rise and digital content consumption surges, consumers in countries like China, India, Japan, and South Korea are increasingly seeking affordable, reliable, and easy-to-use storage solutions to manage photos, videos, documents, and other personal data. The proliferation of smartphones, tablets, and laptops has further accelerated the demand for personal storage products such as external hard drives, USB flash drives, and cloud storage services, making data access and backup easier for individuals at various income levels. Another key factor driving growth in the APAC personal and entry level storage market is the region’s expanding e-commerce industry. As more people embrace online shopping and digital media services, the need for digital storage solutions has escalated, particularly for smaller businesses and individual entrepreneurs. These users often require affordable storage options that allow them to securely store and access large amounts of data without significant investment. The rise of cloud storage services, which offer scalable and cost-effective solutions for both personal and entry-level business users, has further contributed to the market's expansion, particularly as internet speeds improve and cloud infrastructure becomes more widely available in APAC countries.
Major
companies operating in the Global Personal and Entry level Storage Market are:
- Microsoft
Corporation
- Alphabet
Inc.
- Apple
Inc.
- Autoliv,
Inc
- Cisco
Systems Inc.
- IBM
Corporation
- Hewlett-Packard Enterprise Company
- Amazon.com,
Inc.
- Dell
Inc.
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“The
Global Personal and Entry level Storage Market is expected to rise in the
upcoming years and register a significant CAGR during the forecast period. The
Personal and Entry Level Storage market is positioned for significant growth,
driven by the rising demand for affordable, high-capacity storage solutions as
digital content creation and data storage needs continue to expand. Both
consumers and small businesses are increasingly seeking cost-effective,
scalable options to manage large volumes of data, including photos, videos, and
backups. Market opportunities lie in delivering user-friendly solutions with
fast data transfer speeds, broad device compatibility, and seamless cloud
integration. The growing trend of remote work and heightened concerns
around data security present opportunities to offer secure, reliable, and
easily accessible entry-level storage solutions for individuals and small
enterprises. Therefore, the Market of Personal and Entry level Storage is
expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director
of TechSci Research, a research-based global management consulting firm.
“Personal
and Entry level Storage Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented, By Product Type (Solid-State Drives,
Cloud-Based Drives, Hard Disk Drives and Recordable Discs), By Technology
(Directly Attached Storage, Network-Attached Storage, Cloud Storage Technology,
Signal Attached SCSI, and Others), By End User (Media & Entertainment,
Financial Services, Public Sector, Health Care Industry, and Others), By
Region, By Competition, 2019-2029F”,
has evaluated the future growth potential of Global Personal and Entry level
Storage Market and provides statistics & information on the Market size,
structure, and future Market growth. The report intends to provide cutting-edge
Market intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Personal and Entry level
Storage Market.
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