Personal and Entry Level Storage (PELS) Global Market Report 2024

The personal and entry level storage (PELS) market size has grown exponentially in recent years. It will grow from $29.38 billion in 2023 to $39.7 billion in 2024 at a compound annual growth rate (CAGR) of 35.1%. The growth observed in the historic period can be attributed to several factors including the increasing demand for digital storage solutions which has driven market growth, the escalating pace of digitalization across various sectors, the widespread adoption of smartphones and tablets, the proliferation of Internet of Things (IoT) devices, and the expansion of e-commerce activities.

The personal and entry level storage (PELS) market size is expected to see exponential growth in the next few years. It will grow to $133.28 billion in 2028 at a compound annual growth rate (CAGR) of 35.4%. The projected growth in the forecast period can be attributed to a heightened awareness regarding data storage needs, a surge in demand for portable storage solutions, widespread adoption of cloud storage services, increased consumption of high-definition content, and the advancement of edge computing technologies. Major trends anticipated in the forecast period include continuous technological advancements in storage solutions, the rise of subscription-based storage services, greater integration with mobile devices, a shift towards wireless connectivity options, and the expansion of storage capacities.

The increasing demand for cloud computing services is set to drive the growth of the personal and entry-level storage (PELS) market. Cloud computing services, which involve delivering computing services and IT resources over the internet with flexible, pay-as-you-go pricing, are gaining traction due to their benefits such as flexibility, accessibility, data security, and reliability. These services bolster PELS by offering scalable, cost-effective storage solutions with features such as data backup, recovery, and collaboration. Eurostat data from December 2023 indicates a notable uptake in cloud computing services among European Union businesses, particularly for office software, file storage, and email, with a 4.2 percentage point increase compared to 2021. This surge in demand underscores the pivotal role of cloud computing services in driving the growth of the PELS market.

Leading players in the personal and entry-level storage market are innovating with advanced technologies to efficiently manage data. For example, Hitachi Ltd. introduced the Hitachi Virtual Storage Platform One, a hybrid cloud data platform designed to simplify data management across diverse storage environments, including block, file, object, and mainframe data. Launched in October 2023, this platform addresses the challenges faced by IT leaders in scaling data and modernizing applications across complex hybrid and multi-cloud infrastructures. With features such as a unified control plane, data fabric, and AI-enabled management software, the Hitachi Virtual Storage Platform One enhances reliability, security, and sustainability for customers, catering to various storage needs, including those at the personal and entry-level scale.

In November 2021, DataCore Software expanded its footprint in the Kubernetes storage space by acquiring MayaData Inc., a US-based provider of personal and entry-level storage technology through its OpenEBS platform. This strategic acquisition enables DataCore Software to leverage MayaData's expertise to create a comprehensive storage platform tailored for container environments. The move reflects the increasing demand for storage solutions in the container space, particularly as container workloads continue to proliferate in production environments. By integrating MayaData's capabilities, DataCore Software aims to strengthen its position in the PELS market and meet evolving storage requirements efficiently.

Major companies operating in the personal and entry level storage (PELS) market are Samsung Electronics Co. Ltd., Dell Technologies Inc., Hitachi Ltd., Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., Fujitsu Limited, Micron Technology, Hewlett Packard Enterprise Company, Toshiba Corporation, Western Digital Corporation, Asustek Computer Inc., Seagate Technology Holdings plc, NetApp Inc., Pure Storage Inc., Nutanix Inc., ADATA Technology Co. Ltd., Netgear Inc., PNY Technologies Inc., Tintri Inc., DataCore Software, Drobo Inc., Kingston Technology Company Inc., Scality Inc., Apricorn Inc., Glyph Production Technologies, TerraMaster Technology Co. Ltd., Thecus Technology Corporation.

North America was the largest region in the personal and entry level storage (PELS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal and entry level storage (pels) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the personal and entry level storage (PELS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Personal and entry-level storage (PELS) denotes storage systems designed to assist individuals, small enterprises, and home offices in efficiently and securely storing, managing, backing up, and exchanging digital data. These systems provide a means to backup crucial files, documents, photos, and videos, mitigating the risk of data loss resulting from hardware failure, theft, or accidental deletion.

Personal and entry-level storage (PELS) primarily consists of two main product categories such as cloud and non-cloud storage solutions. Cloud storage involves storing data on remote servers accessible via the internet, enabling users to manage, access, and retrieve data from anywhere with an internet connection. Various technologies such as Serial Attached Small Computer System Interface (SAS), Direct Attached Storage (DAS), Network Attached Storage (NAS), cloud storage technology, and others are utilized across industries including financial services, media and entertainment, healthcare and life sciences, public sector, and others.

The personal and entry level storage market research report is one of a series of new reports that provides personal and entry level storage market statistics, including personal and entry level storage industry global market size, regional shares, competitors with a personal and entry level storage market share, detailed personal and entry level storage market segments, market trends and opportunities, and any further data you may need to thrive in the personal and entry level storage industry. This personal and entry level storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The personal and entry level storage (PELS) market consists of revenues earned by entities by providing services such as file synchronization, backup solutions, data recovery, photo and video management and data archiving. The market value includes the value of related goods sold by the service provider or included within the service offering. The personal and entry level storage (PELS) market also includes sales of external hard drives, USB flash drives, network-attached storage (NAS) and solid-state drives (SSDs). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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