Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Personal and entry-level storage (PELS) offers storage data facility for all the information, which is generated on a daily basis. Enter-level flash storage is simple, smart, affordable, secure, and high-performance for enterprises to start small and grow with cloud-connectivity. There are different types of data storage systems and technologies available for this purpose. Some important data storage systems include hard disks, solid-state drives, flash memories, and CDs, and DVDs among others. Its applications include digital photography, MP3 audio, and MPEG videos, web television, etc.
The global personal and entry level storage (PELS) market is estimated to account for US$ 479.9 Bn in terms of value by the end of 2027.
Market Dynamics- Drivers
- Low equipment cost required is expected to drive growth of the global personal and entry level storage (PELS) market during the forecast period
PELS removes the need for investment in storage equipment for users. Instead of that, the data is stored on virtual servers located at different places across the globe. Generally, these servers are hosted by third parties who provide cloud hosting services to individuals as well as organizations. According to the Japanese HDD manufacturer Toshiba, the volume of online data generated globally has been increasing at a rate of around 40% annually. However, the price associated with this equipment remains a major concern. Therefore, low-priced, cost-effective cloud storage is the most suitable option for customers to store data online. Hence, these factors are expected to drive growth of the global personal and entry level storage (PELS) market during the forecast period.
- Growing awareness towards data storage is expected to propel the global personal and entry level storage (PELS) market growth over the forecast period
It is essential to protect data from physical damages and theft, in order to maintain its integrity. This can be done by limiting access to the data. Accidental data deletion, error in reading data, and data loss due to hardware malfunction are some important reasons driving the need for data backup. Thus, growing concerns towards data storage and data backup are generating the requirement for data storage equipment. Therefore, these factors are expected to propel the global personal and entry level storage (PELS) market growth in the near future.
APAC held dominant position in the global personal and entry level storage (PELS) market in 2019, accounting for 49.3% share in terms of value, followed by Europe and North America respectively
Figure 1: Global Personal and Entry Level storage (PELS) Market Share (%), in terms of Value, By Region, 2019
Market Dynamics- Restraints
- Issues regarding data security are expected to hinder the global personal and entry level storage (PELS) market growth over the forecast period
Data vulnerability is a major related to cloud-based storage since number of copies of data is created and stored on different servers across the globe. According to the survey conducted by Symantec Corporation of 2,000 small and mid-size enterprises, around 73% had been breached by cyber-attacks. When data is distributed and stored at different locations, it creates the risk of unauthorized physical access to the data. For instance, According to the survey conducted by Symantec Corporation of 2,000 small and mid-size enterprises, around 73% had been breached by cyber-attacks. Therefore, these factors are expected to hinder the global personal and entry level storage (PELS) market growth in the near future.
- Lesser lifespan of HDDs is expected to restrain growth of the global personal and entry level storage (PELS) market during the forecast period
Presence of mechanical components and higher power consumption of HDDs results in a lesser life span of disk drive as it can get easily damaged due to rough handling. The average lifespan of a typical HDD is around 5 years. Moreover, in HDD, data is stored on a metal platter and head moves over this platter at speed of around thousands of rotations per minute to read the data. This increases the possibility of data error occurrence. Furthermore, in the case of data losses, it is difficult to recover lost data. Other factors contributing to the decreased life span of HDDs include higher heat dissipation, noisy operation, and the presence of moving parts. Hence, these factors are expected to restrain growth of the global personal and entry level storage (PELS) market during the forecast period.
Personal and Entry Level storage (PELS) Market Report Coverage
||Market Size in 2019:
||US$ 39.4 Bn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 479.9 Bn
- North America: U.S., Canada
- Latin America: Brazil, Argentina, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
- Middle East: GCC Countries, Israel, Rest of Middle East
- Africa: South Africa, North Africa, Central Africa
- On the basis of Product Type: Recordable Discs, Flash Drives, Hard Disk Drives (HDDs), Solid State Drives (SSDs), Cloud Based Storage.
- On the basis of Technology: SAS, DAS, NAS, Cloud Storage Technology, Others (IP based storage, fiber channel storage, etc.).
- On the basis of application: Financial Services, Media and Entertainment, Healthcare and Life Sciences, Public Sector, Others (Communications, Internet Services, etc.).
IBM Corporation, Cisco Systems Inc., EMC Corporation, Symantec Corporation, NetApp Inc., Hitachi Data Systems (HDS), Hewlett-Packard Company, Toshiba Corporation, Dell Inc., Seagate Technology, and Western Digital Corporation..
- Growing awareness towards data storage
- Low equipment cost is required
|Restraints & Challenges:
- Lesser lifespan of HDD
- Issue regarding data security
- Adoption of cloud storage systems can present lucrative growth opportunities in the global personal and entry level storage (PELS) market
Cloud storage has become increasingly popular for both individuals and companies. Cloud services such as Dropbox, SugarSync, Google Drive, and Box offer a way to easily store data and access it from any device with an internet connection. However, data security is the biggest concern associated with this type of storage as data is stored on distant servers, with many copies spread throughout the world. For instance, Dropbox offers 2GB of free data storage space and after that costs US$ 99 annually for 100GB, US$ 199 for 200GB, and US$ 499 for 500GB space. Personal cloud storage system is the best alternative for public cloud storage where data is stored on a local networked drive allowing the user to retain full control over the data, while still making files available online.
- Increasing use of SSDs and flash memories in consumer electronics can provide major business opportunities in the global personal and entry level storage (PELS) market
HDDs are predominantly used in set-top boxes for storing the downloaded data and the operative software. They are proving as a cost-effective alternative over HDDs for use in set-top boxes, owing to a reduction in the prices of SDDs. Moreover, the use of flash memory in smartphones is resulting in an increase in its internal memory that can be used for storing a large number of applications. Growing penetration of SSDs and flash memories in the aforementioned consumer electronics is expected to drive the demand for these storage products in the near future.
Figure 2: Global Personal and Entry Level storage (PELS) Market Value (US$ Bn), 2017 - 2027
The global personal and entry level storage (PELS) market was valued at US$ 39.4 Bn in 2019 and is forecast to reach a value of US$ 479.9 Bn by 2027 at a CAGR of 36.6% between 2020 and 2027.
- Mergers and acquisitions among market players is a key trend
Key companies operating in the market are focused on mergers and acquisitions, in order to gain a significant advantage. For instance, in 2012, IBM Corporation acquired Texas Memory Systems, a privately held company. In December 2013, IBM Corporation acquired Kenexa Corporation for cash consideration of US$ 1.35 billion. Moreover, in 2011, NetApp acquired Engenio external storage business of LSI Corporation in an all-cash transaction for US$ 480 billion.
- Growing adoption of network-attached storage (NAS) is a major trend
Network-attached storage (NAS) is a file-level computer storage data server connected to a computer network providing data access to a heterogeneous group of clients. NAS is typically used for serving files by its hardware, software, or configuration. Many consumers are increasingly adopting NAS for its various advantages.
Raw material supplier
Plastic, silicon, aluminum are some basic raw materials used in manufacturing storage devices. For instance, plastic is used in manufacturing CDs, DVDs, Blu-ray discs, and videotapes among others. Silicon is used in manufacturing solid state drives (SSD), hard disk drives (HDD), and flash memories while light aluminum alloy is used in platters of HDD that are then magnetized to store information. Silicon chips are used as substrate upon which the IC’s are integrated in SSDs and flash memories. There are a large number of manufacturers of plastic and semiconductor materials providing these raw materials to OEMs such as Western Digital, Seagate, and Toshiba.
Global Personal and Entry Level storage (PELS) Market - Impact of Coronavirus (Covid-19) Pandemic
Due to Covid-19 pandemic, many industries witnessed significant shift in their business. Media consumption is expected to witness a substantial increase due to lockdowns enforced in several countries across the globe to contain the spread of the covid-19 pandemic. As consumers are forced to stay at home and the demand for popular OTT services from providers such as Netflix, Amazon Prime, etc. increased. The high adoption of internet media and online gaming are creating huge amount of data and to fulfil storage requirements companies are using various type of data storage systems that are expected to drive market growth. This, in turn increases the demand for personal and entry level storage (PELS).
Major companies operating in the global personal and entry level storage (PELS) market are IBM Corporation, Cisco Systems Inc., EMC Corporation, Symantec Corporation, NetApp Inc., Hitachi Data Systems (HDS), Hewlett-Packard Company, Toshiba Corporation, Dell Inc., Seagate Technology, and Western Digital Corporation.
- Major companies are focused on product launches, in order to gain a competitive edge in the market. For instance, in January 2019, NetApp Inc. introduced NetApp AFF C190 system, which is a simple and secure all-flash storage solution.
- Key players are involved in product launches, in order to enhance the market presence. For instance, in January 2020, Hitachi Vantara, a subsidiary of Hitachi Data Systems (HDS), launched Hitachi Virtual Storage Platform G130.