The reducing average selling prices of data storage systems is expected to propel the implementation of Personal and Entry Level Storage (PELS)
Dallas, Texas, Feb. 08, 2021 (GLOBE NEWSWIRE) — The “Personal and Entry Level Storage (PELS) Market by Product (Cloud-based storage, and Non-cloud-based storage (SSD, Flash Drives, HDD, and Recordable Discs)), Technology (SAS, NAS, DAS, and Others), Industry Vertical (BFSI, Public Sector, Healthcare, Media and Entertainment, and Others), and by Region (North America, Europe, Asia Pacific, Middle East, and Africa and South America), Global Forecast, 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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The market is likely to project a CAGR of nearly 37% during the forecast years 2020-2025. Storing and managing the data on daily basis is one of the vital tasks for any organization. However, PELS comprises non-cloud and cloud tools that facilitate secure storage capability. The growing requirement for cost-efficient storage solutions and the emergence of 5G is likely to offer major growth opportunities for the market in forthcoming years. Hence, the global Personal and Entry Level Storage (PELS) market size is likely to attain nearly USD 470 billion by the year 2028.
The present and future Personal and Entry Level Storage (PELS) market progress are summarized to conclude the attractiveness of the entire market. Besides, prime factors that influence the Personal and Entry Level Storage (PELS) market opportunities during the forecast years. Factors such as the constant developments in information technology sectors and growing demand from small & medium enterprises are the key factor driving the market growth for Personal and Entry Level Storage (PELS).
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Also, the increase in volumes of data due to internet media and gaming platforms is another factor driving market growth. However, the emerging data security and confidentiality distress about data confidentiality are hampering the market growth. Furthermore, a reduction in the usual selling prices of data storing structures is also likely to be opportunistic for the Personal and Entry Level Storage (PELS) market in the upcoming years.
The report further summarizes the different characteristics of the global Personal and Entry Level Storage (PELS) industry by considering the market from value chain analysis. Moreover, the report encompasses numerous qualitative features of the Personal and Entry Level Storage (PELS) industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
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The Personal and Entry Level Storage (PELS) market has tough competition among the new emerging and pre-established market vendors. Also, the Personal and Entry Level Storage (PELS) industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the product segment, the market is classified into cloud-based storage and non-cloud-based storage. The non-cloud-based storage segment is further classified into SSD, flash drives, HDD, and recordable discs. The cloud-based segment is also likely to collect a significant amount of growth in the global market. The features such as flexibility, scalability, and cost-effectiveness are the key components expected to drive the demand for this storage solution. However, the non-cloud-based storage segment collected the utmost market revenue also, it is projected to continue dominating throughout the forecast years.
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The Asia-Pacific region is likely to gather noteworthy growth through the forecast period 2020-2028. The growth of Personal and Entry Level Storage (PELS) in this region is largely credited to the rapid internet penetration and adoption of online & social media platforms. Conversely, the North American region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the increasing demand from the media & entertainment industry.
The major players of the global Personal and Entry Level Storage (PELS) market are Cisco, NetApp, Hitachi Vantara, Dell EMC, Toshiba, Symantec, IBM, Seagate Technology, Hewlett-Packard Enterprises, and Western Digital. Moreover, the other potential players in the Personal and Entry Level Storage (PELS) market are CA Technologies, Tintri, Nutanix, Simplivity, and Pure Storage. Renowned companies are offering new and modern Personal and Entry Level Storage (PELS) solutions.
Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Personal and Entry Level Storage (PELS) Market by Product
Chapter 6 Personal and Entry Level Storage (PELS) Market by Technology
Chapter 7 Personal and Entry Level Storage (PELS) Market by Industry Vertical
Chapter 8 Personal and Entry Level Storage (PELS) Market By Region
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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