Industry Insights
The increasing need for appropriate & protected data storage & administration digital age is expected to increase the demand for personal and entry level storage (PELS) systems which is going to expel the market growth. The global PELS market is projected to increase at lucrative pace with the growing amount of data and complication in managing it. Increasing concerns about data security, backup and storage are also going to significantly impact the PELS market over the forecast period. Current development rate in information and technology segment is expected to drive the PELS market in coming years. Different small as well as medium sized organizations are anticipated to start saving the expenses by means of using cloud services for data storage. This activity is expected to spur the market growth in near future. Increasing use of internet media, online gaming and other online platform which generate the large amount of data is one of the key major drivers of PELS market.
Product Insights
A wide range of PELS products include cloud based drives, solid-state drives, hard disk drives and network attached storage & recordable discs. The solid state storage is fabricated of silicon microchips by means of no mechanical part in it which makes it shock resistive with less power &less weights. These characteristics are going to increase the demand of solid state storage devices and expel the market growth. Data accessibility and availability at anytime anywhere is going to spur the PELS market over the forecast period. Organizations purchase this technology on lease from various providers to accumulate and administer the data. Hence these players are going to expel the market growth. Hard drives are able to store and retain the large amount of data which is going to augment the market growth of PELS devices. However, recordable devices such as flash drives and digital compact disc are of compact size and able to store the small amount of data. The small data storage requirement is going to drive the demand for these devices.
Technology Insights
PELS devices work on technology categorized as network attached storage, directly attached storage, signal attached SCSI, cloud storage technology and IP/ fiber based storage. Directly attached storage is linked to the server/workstation with no storage network in between. While in case of network attached storage, a computer storage network is linked with the computer in between the connection to server & client/user. Cloud connected technology uses web API to expand to cloud storage gateway for data administration. Signal linked SCSI is the high speed edge technology used by storage devices which improves to reducing size, cost & increasing transmission pace. Fiber channel offers consistent, serial interrelating and gigabit technology for data storage which is generally used in commercial applications. Furthermore, IP based storage is alternative to fiber supported storage. These technological advancements are going to augment the market growth of PELS devices.
Application Insights
PELS device/service includes applications such as media &entertainment, public sector, BFSI, telecommunication companies, internet service providers and health care industry. Media and entertainment industry is expected to expel the market growth owing to usages of PELS technology to store data about clients and users by means of their preference and interests. This provides the advantage of knowing customers preference as well as loyalty, which is one of the drivers of the PELS market. BFSI sector is going to witness the highest growth owing to primary business of data and its operations as well as utilization of technology to improve data management and to increase the reliability in market. Public sector and healthcare sector is going to witness the significant growth over the forecast period owing to usage of storage devices for recording purpose and large data production/consumption as well as recording & accessing updates for latest development.
Regional Insights
North America is going to witness the highest growth owing to availability of large media and entertainment industry. Owing to increasing adoption of social media and online platform as well as rise in service based industries in Asia Pacific, the region is going to witness the fastest growth over the forecast period. Lack of awareness about information technology is expected to hamper the market growth globally.
Competitive Insights
PELS market includes key players such as NETApp, IBM, Symantec, CA Technologies, Cisco, HP, EMC, HP and Hitachi Data Systems. EMC is the highest market share holder.
