The Global Personal and Entry Level Storage (PELS) Market was valued at US$ 61.9 Million in 2021 and is expected to surpass US$ 546.7 Million by 2030, registering a CAGR of 36.6% during the forecast period (2022-2030), according to the Global Personal and Entry Level Storage (PELS) Market, By Product Type (Recordable Discs, Flash Drives, Hard Disk Drives (HDDs), Solid State Drives (SSDs) and Cloud Based Storage), by Technology (SAS, DAS, NAS, Cloud Storage Technology and Others (IP based storage, fiber channel storage, etc.)), by Application (Financial Services, Media and Entertainment, Healthcare and Life Sciences, Public Sector and Others (Communications, Internet Services, etc.) ), by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
Personal and entry level storage (PESL) is required to store and manage the data in a proper way to use in the future. 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. Cloud-based storage is a rapidly growing service for storing and managing data. It helps in reducing the cost associated with the data storage as there is no requirement of data storage systems.
The global personal and entry level storage (PELS) market is estimated to account for US$ 546.7Mn in terms of value by the end of 2030.
Key Developments
In February 2021, IBM, a technology corporation announced updated hybrid cloud and container-centric systems, as well as new high-speed entry-level flash storage systems, and other developments to help make enterprise-class storage available to organizations of all sizes and demands.
Global Personal And Entry Level Storage (PELS) Market - Impact of Coronavirus (Covid-19) Pandemic:
Due to the Covid-19 pandemic, many industries witnessed a significant shift in their business. Every country had announced a lockdown to contain the spread of coronavirus. As people were staying at home and curious to know more updates on the coronavirus has increased the demand for the media and entertainment industry. For instance, in April 2020, according to the Broadcast Audience Research Council (BARC), total TV viewership increased to 21% from 7%, as most people watched news channels to get updates on COVID-19. Streaming service providers such as Netflix, Amazon Prime Video, and Zee5 are used by people for entertainment and increase the pressure on networks. The media and entertainment industry has generated a large volume of data that is required to be stored and managed in a proper manner. This, in turn, increased the demand for the personal and entry-level storage (PLES) market.
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https://www.coherentmarketinsights.com/market-insight/personal-and-entry-level-storage-market-4178
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Key Trends and Analysis of the Global Personal and Entry Level Storage (PELS) Market:
- Cloud-based data storage and backup refer to storing and backing up the data to remote, cloud-based servers. This data is stored in the format accessible from multiple distributed and connected resources comprising the cloud. As the data is stored on remote servers, it can be accessed from any location in the world just with the help of an internet connection. Cloud-based data storage eliminates the need to carry a personal storage device such as flash drive, recordable disc, or flash memory cards for storing or accessing data.
- Key companies in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in May 2011, NetApp acquired certain assets related to the Engenio external storage systems business (Engenio) of LSI Corporation (LSI). This acquisition is expected to benefit NetApp Inc. by helping to address growing customer requirements in the areas of high bandwidth and intensive analytics workloads.
- 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.
