The need for proper and secure data storage and management in today’s digital age is imperative, and this drives the demand for personal and entry level storage (PELS) systems, states a new report by Transparency Market Research. The report â€" titled “Personal and Entry Level Storage (PELS) Market â€" Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 â€" 2019†â€" states that fueled by a number of strong factors, the global personal and entry level storage market systems is projected to register a massive leap from US$5 billion in 2012 to US$39.49 billion by the end of 2019. This means that the market will register a remarkable compound annual growth rate of 35.1% over the forecast period of 2013-2019.The personal and entry level storage market is highly fragmented and the research report segments the overall market on the basis of product or service, technology, end-use application, and geography.
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By product or service, personal and entry level storage systems are classified into flash drives, hard disk drives (HDD), cloud storage, recordable discs, and solid state drives (SSD). Among these, HDD dominated the global scenario with a 32% share of the overall personal and entry level storage market thanks to larger storage space offered and lower cost. With SDDs now offering longer life span, speedier data transfer rates, silent operations, and portability, this segment is expected to surpass the demand for HDDs in the forecast period.
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In terms of technology, the personal and entry level storage market can be divided into direct attached storage (DAS), serial attached SCSI (SAS), cloud storage technology, fiber channel storage, network attached storage, and IP based storage. Out of these, cloud-based storage has been identified as the fastest growing technology segment, presenting a 48.6% CAGR from 2013 to 2019. The various end-use industries that use personal and entry level storage systems are communications, financial services, media and entertainment, healthcare and life sciences, public sector, and internet services; among these the media and entertainment industry dominated on the global front.