Consumer Data Storage Devices Market Growth to Surge Owing to Increasing Adoption by End-use Applications

New York, United States, 2022-Jun-08 — /EPR Network/ —

The report on the Consumer Data Storage Devices Market provided based on the recent developments and data that has been collated from the previous year’s looks to provide a thorough understanding. The market overview provided in the initial section looks to provide the reader with adequate information regarding the product and services. It focuses on the market definition along with the product applications and end-user industries. The report covers a period spanning from 2022 to 2027. Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.

According to a recent market report published by Persistence Market Research titled “Consumer Data Storage Devices Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2027),” the Consumer Data Storage Devices market was valued at US$ 14,250.6 Mn in 2016 and is projected to reach US$ 18,796.5 Mn by 2027 end, registering a CAGR of 3.3% from 2017 to 2027.

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Rising adoption of smartphones is one of the major factors driving market revenue growth of Consumer Data Storage Devices during the forecast period. The use of external storage devices is on the rise among consumers, as the number of connected devices per user increases. The adoption of smartphones is fueling the growth for memory cards. Although the consumer data storage devices market is combatting competition with cloud storage, external storage devices are generally preferred for the storage of large files and documents of high value.

Key Players:

The report has profiled some of the Important players prevalent in the global like – Seagate Technology LLC, Western Digital Corporation, Toshiba Corporation, Samsung, Sony Corporation, Transcend Information, Inc., Verbatim (Mitsubishi Chemical), PNY Technologies Inc., Kingston Technology Company, Inc., Corsair and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Consumer Data Storage Devices.

Segmental Analysis & Forecast

The Consumer Data Storage Devices market is categorized on the basis of type & capacity. On the basis of type, the market is segmented as Hard Disk Drive, Solid State Drive, Memory Card, USB Flash Drive and Optical Disk. Of these segments, the SSD segment is anticipated to register a CAGR of 7.8% during the forecast period.

The Capacity Segment is divided into Hard Disk Drive with sub segments <= 2TB, 2.1-6TB & 8TB and Solid State Drive with segments <= 1TB and 1.1-2TB. Solid State drives with capacity of <= 1TB and 1.1-2TB are expected to witness a CAGR of 7.8%. This is primarily because SSDs are a new introduction in the market and have a low adoption currently. SSDs will witness a growth in sales once the prices are reduced and customers find it affordable to purchase the product.

This report also covers drivers, restraints and trends driving each segment and offers analysis and insights regarding the growth potential of the Consumer Data Storage Devices market in regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, Asia Pacific accounted for the largest market share in 2016 owing to the huge installed base of smartphones and laptops in the region. The Latin America regional market is expected to exhibit a CAGR of 3.7% during the forecast period. The demand for Consumer Data Storage Devices is expected to increase in the markets in North America & Europe in the coming years.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)

Key Stakeholders
Consumer Data Storage Devices Market Manufacturers
Consumer Data Storage Devices Market Distributors/Traders/Wholesalers
Consumer Data Storage Devices Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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