ALBANY, N.Y.--(BUSINESS WIRE)--The latest report released by Transparency Market Research predicts that due to the rising need for secured management and storage of data, the global personal and entry level storage market will grow significantly and will be worth of US$39.49 billion in 2019.
The report titled “Personal and Entry Level Storage (PELS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” states that the market will witness a positive growth at a 35.1% CAGR between 2013 and 2019.
On the basis of products or services offered, the report segments the global personal and entry level storage market into cloud storage, hard disk drives (HDD), recordable discs, flash drives, and solid state drives (SDD). Owing to the larger storage space offered at lower cost, HDD accounted for more than 32% share of the market. The report predicts that the SDD segment will dominate the market in the coming years because of faster data transfer rates and longer life span.
Categorizing the various technologies used in the market, the report mentions that rising demand for cloud-based personal and entry level storage will help this segment grow at a CAGR of 48.6% between 2013 and 2019, faster than any other segment. The global personal and entry level storage market offers its services to industries such as media and entertainment, financial services, healthcare, internet services and the public sector. The media and entertainment sector accounted for the majority share of the market.
The report mentions that Asia Pacific, Europe, North America and Rest of the World are the key regional segments, of which Asia Pacific dominated the global personal and entry level storage market in 2012, with a 42.5% share.
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About Transparency Market Research
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.