External Storage Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's External Storage Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 24, 2024 /EINPresswire.com/ -- The global external storage market, encompassing extra data storage units not integrated into computers or devices, is experiencing robust growth, with projections indicating a surge from $35.45 billion in 2023 to $40.44 billion in 2024, boasting a compound annual growth rate (CAGR) of 14.1%. This expansion is attributed to various factors, including the proliferation of data, the emergence of cloud-based services, and the increasing importance of data backup.

Rising Data Generation Fuels Market Expansion
A significant driver of growth in the external storage market is the escalating volume of data generated across various sectors. As businesses and individuals alike accumulate vast amounts of digital information, the need for reliable and accessible storage solutions becomes paramount. Moreover, the rise of cloud-based services has spurred demand for external storage units to accommodate data storage and backup requirements effectively.

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Key Players and Market Trends
Key players in the external storage market, including Samsung Electronics Co. Ltd. and Dell Technologies Inc., are focusing on developing technologically advanced solutions to gain a competitive edge. For instance, Micron Technology Inc. launched the 7450 solid-state drive (SSD) based on 176-layer 3D NAND technology, offering extensive capacity ranging from 400 GB to 15.36 TB, catering to diverse data center needs.

In addition to technological advancements, market trends such as the expansion of network-attached storage (NAS) and the adoption of solid-state drives (SSDs) are shaping the industry landscape. Furthermore, the integration of artificial intelligence (AI) for smart storage and the growing role of external storage in edge computing underscore the dynamic nature of the market.

Segments:
The external storage market covered in this report is segmented –
1) By Storage Type: Optical Storage, Solid-State Storage Devices, Flash Storage Devices, External Hard Drives, Other Storage Type
2) By Interface: Universal Serial Bus (USB), Thunderbolt, External SATA (eSATA), Firewire
3) By Capacity: Up To 1 TB, 1TB To 100 TB, Above 100 TB
4) By Application: Consumer Electronics, Healthcare Devices, Automotive Application, Enterprise Storage, Industrial Applications, Other Applications

Geographical Insights: North America Leads, Asia-Pacific Shows Promising Growth
North America emerged as the largest region in the external storage market in 2023. However, Asia-Pacific is anticipated to witness the fastest growth rate during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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External Storage Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The External Storage Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on external storage market size, external storage market drivers and trends, external storage market major players, competitors' revenues, market positioning, and market growth across geographies. The external storage market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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