The Internet-based service enterprises have been carrying out newer and efficient techniques to deal with growing number of data servers requiring a lot of storage. This has created a huge demand for storage in cloud-based services. The digital storage devices are a kind of data storage device used to store the data, exchange data, files, images and more. These devices prove essential for a computing system to store the necessary information and retrieve that information later.
A few examples of digital storage devices are optical drives, magnetic drives, solid state drives, and the most widely used flash memory drive. The factors that affect the market growth include the increasing amount of data from digital services and industries like banking, healthcare, information technology and others. Another major factor that tends to increase the market growth is growth in cloud computing services. Moreover, the rising trend of smartphones with high capacity storage is also expected to fuel the market.
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According to the analysis of Market Research Future, the global Digital Storage Devices Market is anticipated to register a CAGR of 27% over the forecast period, 2017-2023.
Major Key Players
Some of the major players in global digital storage devices market include Western Digital Technologies, Inc (U.S.), Toshiba Corporation (Japan), Sony Corporation (Japan), Intel Corporation (U.S.), Lenovo Group Ltd (China), Samsung Electronics Co Ltd (South Korea), SanDisk Corporation (U.S.), Seagate Technology PLC (U.S.), Teradata Corporation (U.S.), Transcend Information, Inc (Taiwan), among others.
Other vendors include Kingston Technology Corporation, Inc (U.S.) International Business Machines Corporation (U.S.), EMC Corporation (U.S.), Hewlett Packard Company (U.S.), Brocade Communications Systems, Inc. (U.S.), NetApp, Inc. (U.S.), Netgear, Inc. (U.S.), Fujitsu Ltd. (Japan), Violin Systems (U.S.), LSI Corporation (U.S.), Kingmax Semiconductor Inc. (Taiwan), Hitachi-LG Data Storage (South Korea), Promise Technology, Inc. (Taiwan), among others
The prominent players keep innovating and investing in research and development to maintain a cost-effective product portfolio. Recent mergers and acquisitions among the key players is a strategy the business entities leverage to strengthen their reach to the customers.
The global digital storage devices market is estimated to grow at a significant rate during the forecast period due to higher demand for faster and secure storage devices. The geographical analysis of digital storage devices market marks the study for regions like North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand) and rest of the world (including the Middle East, Africa, and South America). Among these regions, the market is led by North America. Nearly half of the total device vendors are concentrated in North America providing digital storage devices for laptops, desktops, and portable storage. These vendors comprise a large market of storage device manufacturers. One of the major factors contributing to the growth of digital storage devices is the higher adoption of flash storage and rising penetration of smartphones with higher capacity storage. North America, due to early adoption of this technology, has experienced a high market share in digital storage devices market.
By the type, the market is segmented into flash storage, solid state drives, magnetic disk drives, optical disk drives, and others. Flash storage is further segmented into USB storage and memory card. Solid State drives are further segmented into flash memory based, DRAM-based, and other. Magnetic storage is further segmented into the floppy disk, magnetic recording tape, magnetic strips, hard disk, and others. Optical storage is further segmented into a digital versatile disc, compact disc, Blu-Ray DVD, and others.
On the basis of application, the market is segmented into personal computers, laptops, smartphone, networking, and others.
On the basis of storage, the market is segmented into up to 8 Gb, 8-128 Gb, 128-512 Gb, 512 Gb to 2 Tb, 2 Tb and above
On the basis of usage, the market is segmented into individual usage and enterprise usage
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world.
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