Global Cloud Personal and Entry Level Storage (PELS) Market – Industry Trends and Forecast to 2029

Cloud Personal and Entry Level Storage (PELS) Market Analysis and Size

As a customer, you know the risks of losing data due to technical flaws in systems and devices. As a result, network attached storage solution vendors are constantly under pressure to support the backup and storage infrastructure of stakeholders in BFSI, IT & telecommunications, and other sectors that rely on data worth millions of dollars. As data backup is only one aspect of running a successful business, there is a growing demand in the IT and telecommunications landscape for high-performance network-attached storage devices that can be upgraded as the organization grows.

Data Bridge Market Research analyses that the cloud personal and entry level storage (PELS) market was valued at USD 63.86 billion in 2021 and is expected to reach the value of USD 577.98 billion by 2029, at a CAGR of 31.70% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Cloud Personal and Entry Level Storage (PELS) Market Scope and Segmentation

Market Definition

Personal and entry-level storage refers to using technology to preserve and store data via computers or other devices. Data storage is essential for retaining information ranging from personal images to business-critical information, and customers and businesses rely on it. AI-powered storage enables organisations to analyse data intelligently and quickly by providing instant insights; it consists of three distinct phases: machine learning, data ingestion, learning, and inference, which is a stage of providing insights.

Global Cloud Personal and Entry Level Storage (PELS) Market Dynamics

Drivers

• Offerings of integrated solution systems

When compared to traditional file servers, network-attached storage is a more cost-effective technology because it eliminates the need for expensive hardware, labour, and licencing. Cloud personal and entry level storage (PELS) also offers an integrated solution, which combines hardware, storage devices, and operating systems into a single device. Furthermore, no operating system or client access licenses are required in a personal and entry level storage (PELS) environment, lowering enterprise storage costs even further. System updates are applied end-to-end in a single instance, allowing for easy system upgrades while saving time and money. Cloud personal and entry level storage (PELS) supports file sharing protocols such as network file system (NFS) and server message block (SMB), which increases their popularity among end users for data sharing.

• High adoption of AI in cloud based services

Rising demand for advanced storage architecture in large-scale enterprise infrastructure is a critical factor driving market growth, as is the increasing demand for AI in high-performance computing data centres and the increasing implementation of cloud-based services, among other factors driving the casting devices market. In the forecast period, modernization and increasing market strategies such as cross-industry collaborations will create new opportunities for network-attached AI storage systems.

Opportunities

• Government initiative towards digitization

One of the major factors driving the personal and entry level storage (PELS) market is the increase in government initiatives toward digitization, which has resulted in enormous growth in digital data. The increased use of smartphones, laptops, and tablets, which generates large amounts of data, positively impacts the market.

• Digital transformation

The surge in digital transformation across multiple industries is hastening market growth. The market is benefiting from the increased demand for these services in the digitalization of hospital records, media and entertainment content, online commerce for retail goods and services, and e-government initiatives.

Restraints

• Security risk

However, among other factors, a lack of technically skilled personnel in AI hardware and rising concerns about data privacy in cloud and server-based services are the major restraints that will further challenge the personal and entry level storage (PELS) during the forecast period.

This cloud personal and entry level storage (PELS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cloud personal and entry level storage (PELS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cloud Personal and Entry Level Storage (PELS) Market

The current COVID-19 epidemic has already impacted several industries. Throughout the epidemic, the revenue from hard disc drives has increased. As a result of the government shutdown storage vendors have raised their selling prices to cove up the lost revenue. Furthermore, working from home has compelled workers to store data in network-attached storage solutions, driving market growth.

Global Cloud Personal and Entry Level Storage (PELS) Market Scope

The cloud personal and entry level storage (PELS) market is segmented on the basis of storage system, technology and vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Magnetic Storage
• Solid-State Storage

Storage system

• Serial Attached SCSI (SAS)
• Direct Attached Storage (DAS)
• Network Attached Storage (NAS)
• Cloud Based Storage
• Others

Industry Vertical

• Banking, Financial Services and Insurance (BFSI)
• IT and Telecommunications
• Media and Entertainment
• Utilities
• Government and defence
• Education and Research
• Healthcare and Life Science
• Cloud Service Providers
• Consumer Goods and Retail
• Manufacturing
• Business and Consulting
• Others

Cloud Personal and Entry Level Storage (PELS) Market Regional Analysis/Insights

The cloud personal and entry level storage (PELS) market is analysed and market size insights and trends are provided by country, storage system, technology and vertical as referenced above.

The countries covered in the cloud personal and entry level storage (PELS) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the cloud personal and entry level storage (PELS)market because of the presence of primary cloud personal and entry level storage (PELS) providers. Furthermore, the region's small and medium-sized enterprises (SME) are on the rise.

Asia-Pacific (APAC) is expected to grow significantly from 2022 to 2029 because of improvements in network infrastructure and an increase in the use of portable devices in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cloud Personal and Entry Level Storage (PELS) Market Share Analysis

The cloud personal and entry level storage (PELS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cloud personal and entry level storage (PELS) market.

Some of the major players operating in the cloud personal and entry level storage (PELS) market are:

• Nasuni Corporation. (U.S.)
• SoftNAS, Inc. (U.S.)
• Panasas (U.S.)
• Infortrend Technology Inc. (Taiwan)
• Thecus Technology Corp (Taiwan)
• D-Link Corporation (Taiwan)
• Cisco Systems, Inc. (U.S.)
• Microsoft (U.S.)
• Huawei Technologies Co., Ltd. (China)
• IBM Corporation (U.S.)
• ASUSTOR Inc. (Taiwan)
• Drobo, Inc. (U.S.)
• QNAP Systems, Inc. (Taiwan)
• Buffalo Americas, Inc. (U.S.)
• Synology, Inc. (Taiwan)
• NETGEAR, Inc. (U.S.)
• SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY (U.S.)
• WESTERN DIGITAL CORPORATION (U.S.)
• Hitachi, Ltd. (Japan)
• Hewlett Packard Enterprise Company L.P. (U.S.)

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