Market Size & Trends
The global personal and entry-level storage market size was valued at USD 97.06 billion in 2023 and is projected to grow at a CAGR of 29.7% from 2024 to 2030. With the proliferation of smartphones, tablets, and other digital devices, the volume of data generated by individuals has been increasing at an exponential rate due to the widespread use of these devices for a multitude of daily activities, such as capturing photos and videos, downloading and streaming multimedia content, using social media platforms, and engaging in various online services.
Individuals are accumulating vast amounts of digital data, which requires efficient and reliable storage solutions. This increase in data generation has driven the demand for personal and entry-level storage solutions. These solutions offer users the ability to securely store, manage, and access their data, addressing the growing need for adequate storage capacity.
The growing consumption of digital media, encompassing photos, videos, music, and games, necessitates substantial storage space and is a significant driver of the personal storage market. This trend is driven by the widespread availability and accessibility of high-resolution digital content, which demands considerable storage capacity. For instance, modern smartphones and cameras capture high-definition photos and 4K videos, while streaming services offer high-fidelity music and extensive game libraries. As users accumulate extensive digital media collections, efficient and reliable storage solutions become paramount. Personal storage devices, such as external hard drives, solid-state drives, and network-attached storage systems, provide the necessary capacity to store, organize, and access this digital content. The increasing popularity of digital media consumption, driven by technological advancements and the proliferation of high-speed internet, further amplifies the demand for personal storage solutions.
Consequently, manufacturers are continually innovating to develop storage devices with higher capacities, faster data transfer rates, and enhanced security features, catering to the evolving needs of consumers in the digital age.
Americans' average daily time spent consuming digital media in 2021 was 421 minutes. In 2022, this number increased by 4.3%. In 2023, the trend of growing digital media consumption persisted, with an average daily consumption of 454 minutes, an additional 3.4% growth. The steady increase in the use of digital media emphasizes the developing significance of digital platforms in daily life and the growing function that digital content plays in people's daily routines.
Global Personal And Entry Level Storage Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2030. For this study, Grand View Research has segmented the global personal and entry level storage market report based on component, connectivity, application and region.- Component Outlook (Revenue, USD Million, 2018 - 2030)
- External Hard Drives
- USB Flash Drives
- Memory Cards
- Network-Attached Storage (NAS) Devices
- Cloud Storage Services
- Solid State Drives
- Others
- Connectivity Outlook (Revenue, USD Million, 2018 - 2030)
- USB
- Ethernet/Wi-Fi
- Cloud
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- BFSI
- Consumer Goods & Retail
- Telecommunications & IT
- Media & Entertainment
- Public Sector
- Healthcare & Life Sciences
- Education and Research
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Middle East and Africa (MEA)
- UAE
- South Arabia
- South Africa
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Personal and Entry Level Storage Market Variables, Trends, & Scope
Chapter 4. Personal and Entry Level Storage Market: Component Estimates & Trend Analysis
Chapter 5. Personal and Entry Level Storage Market: Connectivity Estimates & Trend Analysis
Chapter 6. Personal and Entry Level Storage Market: Applications Estimates & Trend Analysis
Chapter 7. Personal and Entry Level Storage Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- CA Technologies
- Cisco Systems Inc.
- Dell Inc.
- EMC Corporation
- Hewlett-Packard Company
- Hitachi Data Systems
- IBM Corporation
- NetApp Inc.
- Nutanix, Inc.
- Seagate Technology
- Symantec Corporation
- Toshiba Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 97.06 Billion |
| Forecasted Market Value ( USD | $ 627.51 Billion |
| Compound Annual Growth Rate | 29.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
