About Portable Data Storage
The portable storage unit is a compact hard drive that can store a variety of digital data. Flash storage, USB storage, external hard drives, external CD/DVD drives, and other portable devices are examples. The portable data storage market is expected to grow in the future due to the availability of various devices with several benefits such as exceptionally fast read and write speeds, protect valuable data in a solid-state and provide advanced security. By capitalizing on these trends and addressing evolving user needs, the portable data storage market has the potential for continued and robust growth in the coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The providers of the portable data storage market continue to focus on innovation and technological advancements in their products. Such developments coupled with competitive pricing are likely to assist in increasing market share over the forecast period. The key players are investing heavily in research & development to enhance their product quality and features to maintain their market presence in altering consumer buying preferences. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Portable Data Storage market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Western Digital Corporation (United States), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd (South Korea), Seagate Technology PLC (United States), Transcend Information Inc (Taiwan), Sony Corporation (Japan), Kingston Technology Corporation (United States), ADATA Technology Co. Ltd (Taiwan) and Buffalo Americas Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Patriot Memory (United States), AsusTek Computer Inc (Taiwan), Dell Inc. (United States), MicroNet Technology (United States) and HP Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Portable Data Storage market by Type (Flash Storage, USB Storage, External Hard Drives and External CD/DVD Drives), Application (Industrial and Commercial) and Region.
On the basis of geography, the market of Portable Data Storage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Memory, the sub-segment i.e. Below 256 GB will boost the Portable Data Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by File Formatting, the sub-segment i.e. FAT32 (File Allocation Table) will boost the Portable Data Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements for the Adoption of Portable Data Storages
Market Growth Drivers:
Government Regulation for Businesses to Store and Maintain a Backup of a Data and Growing Demand from Personal Consumers to Store Media Files, such as Movies, Songs, Videos, and Documentaries
Challenges:
Highly Fragmented Market and Falling Demand from Personal Consumers for Storage Devices above 1 TB
Restraints:
High Cost of Solid-state Drives, and Other Advanced Technologies
Opportunities:
Key Players are Investing in Data Storage Technology to Enhance their Existing Storage Infrastructure and Process and Increasing Digital Data Volume of Large Enterprise
Market Leaders and their expansionary development strategies
In October 2023, Seagate collaborates with educational institutions to develop secure and portable storage solutions for students and educators. Seagate's collaboration with educational institutions marks a positive step towards enhancing learning experiences and promoting responsible data use in schools. By addressing the potential challenges and ensuring inclusive access, this initiative can significantly impact the digital transformation of education.
In November 2023, LaCie Mobile Drive Plus with Thunderbolt 4 debuts, delivering exceptional speed and compatibility for creative professionals. The LaCie Mobile Drive Plus with Thunderbolt 4 seems like a compelling option for creative professionals seeking a fast, reliable, and portable storage solution. Its combination of speed, capacity, and Thunderbolt 4 compatibility makes it a strong contender in the market.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Portable Data Storage Providers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.