Portable data storage market is estimated to exhibit high growth potential during the forecast period owing to digitization and growing government regulation for business to store and maintain data backup of past years. Portable data storage increases productivity of server and network as well. It proves to be cost effective and provides easy redeployment by maintaining easy backup.
The portable data storage covers a wide range of technology, tools and various processes which facilitate users and enterprise to save large amount of data. Increasing digital data volume of large enterprise is boosting the market of portable data storage market.
Portable data storage market is 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. The most important advantage of SSD memory card is its temperature resistant property that allow it to operate in extreme temperature condition from 0 degree celsius to +70 degree celsius. The low power consumption property is one of the significant factor driving market of SSD memory card. There are some disadvantage of SSD memory card that may affect the growth of SSD card market that includes high cost, longevity issue and adoption of nand gate in SSD memory card that reduces the life span are some of the significant factors effecting the market.
According to Market Research Future Analysis, portable data storage market has been valued at approx. USD 4 Billion by the end of forecast period with 20% of CAGR during forecast period 2017 to 2023.
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.
The prominent players in the portable data storage market are – 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.), among others.
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.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
Portable data storage market can be segmented on the basis of storage type segment, memory size and formatting type. The storage type segment is further segmented into, pen drive, SSD memory card, hard drives, blu-ray disk, USB and others. Blu-ray disk is replacing the market of DVD and CD, due to its dynamic property of storing and transferring large amount of data. The most important advantage of blu-ray players is that it supports 3D movies. USB is most commonly used data storage device owing to its numerous advantage that includes high speed, connectivity to multiple device, inbuilt power system and highly device swappable.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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