Portable data storage market has been segmented on the basis of storage type. That includes pen drive, SSD memory card, hard drives, blu-ray disk, USB and others. The advanced blu-ray disk are capable of using storing 50 GB of data and more. Along with high storage capacity, it displays good quality of videos and audios. Recently developed blu-ray players consists of additional commentaries behind the scene. It enhances users experience by offering improved network connectivity feature. The study indicates, advanced blu-ray players comprises of improved disc coating that provides increased resistance to scratches and smudges.
The Portable Data Storage Market is expected to grow at approx. USD 4 Billion by 2023, at 20% of CAGR between 2017 and 2023.
Portable data storage can be defined as a device that stores digital information. It is somewhat different from portable media player that stores data related to music and movies. The portable devices can store large amount of data at a much faster rate. The high data stability of portable devices enable enterprises to rely on the portable devices while sharing large volume of data.
Major factors driving the Portable Data Storage Market includes government regulation for business to store and maintain a backup of variety of data they make use of. To protect data from virus and malware software that requires strong backup solutions and high storage capacity is one of the significant factor driving market growth. According to the study, each new up gradation of software and operating system requires high storage capacity of hard drives. Further, the growing need to store media files, such as movies, videos, songs and documentaries for making it available to users on network is generating the demand for high capacity solution.
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Major Key Players:
• SanDisk (U.S.)
• ADATA Technology Co., Ltd. (Taiwan)
• Seagate Technology PLC (U.S.)
• Samsung Group (South Korea)
• Transcend Information, Inc. (Taiwan)
• Toshiba Corporation (Japan)
• Freecom (Germany)
• Hewlett-Packard (U.S.)
• Sony Corporation (Japan)
• Other World Computing (U.S.)
Portable Data Storage Market Segmentation:
The portable data storage market has been segmented on the basis of storage type, memory size and formatting type. By storage type segment it includes, pen drive, SSD memory card, hard drives, blu-ray disk, USB and others. Pen-drive is the most frequently used portable data storage device owing to its compact size, inbuilt power system, high portability and cost effective property is fostering the growth of pen drive market.
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Market Research Analysis:
The global portable data storage market, by geography, has been segmented into North America, Europe, Asia Pacific and Others. In the global portable data storage market, Asia Pacific is anticipated to witness relatively faster adoption and hence is expected to grow at the highest CAGR during the forecast period. Within Asia Pacific, portable data storage market is projected to contribute faster to the growth of revenue backed by increasing demand for advanced technologies in countries such as Japan, China and India.
Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of portable data storage market. In Europe, the presence of advanced infrastructure and increasing adoption of advance technology in numerous countries is driving the market growth of portable data storage market. The small and medium enterprises market in Europe region contributed for larger share of revenue while the industrial market is expected to gain traction during the forecast period.
The regional analysis of portable data storage market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market followed by Europe, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period.
The major growth in portable data storage market in North America attributed to the technical advancements and well established infrastructure in that region. Asia-Pacific region is growing with the highest CAGR owing to major data portable device manufacturers present in the region.
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• Technology investors
• Research/Consultancy firms
• Technology providers
• Original Equipment Manufacturers
• IT Solution Providers
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