Personal and Entry Level storage (PELS) Market to Grow with Growing Concerns over Data Security, Storage, and Backup

Personal and entry-level storage (PELS) provides storage data facilities for all information, which is generated on a daily basis. PELS is a smart, simple, secure, affordable, and high-performance system for enterprises to start small and grow with cloud-connectivity. DVDs, CDs, flash memories, solid-state drives, and hard disks are some of the personal and entry-level storage systems. PELS find applications in web television, MPEG videos, MP3 audio digital photography, etc. The personal and entry level storage (PELS) market is growing at a lucrative rate due to increase in data generation coupled with the increasing complexities in handling a large amount of data.

Moreover, growing concerns over data security, storage, and backup are some of the factors responsible for the personal and entry level storage (PELS) market growth. The recent Information technology (IT) developments have also helped the personal and entry level storage (PELS) market in its growth. Many small and medium-sized businesses (SMBs) or small and medium-sized enterprises (SMEs) are increasingly adopting PELS to minimize the storage expenses. In September 2018, Dell EMC Launched PowerVault ME4 Series to 'Fill the Gap' for small and medium-sized businesses are businesses (SMBs).

Another key driver of the personal and entry level storage (PELS) market is the increase in the use of internet media, online gaming, and other online platforms that produce a large amount of data worldwide. According to Toshiba, a Japanese HDD manufacturer, the volume of online data generated worldwide is growing at a rate of around 40% annually. Thus, cost-effective storage is the most suitable option for customers to store data online. Moreover, increasing concerns towards data storage and data backup are creating a need for data storage equipment. In March 2020, Synology Inc. launched DiskStation DS220j, an entry-level 2-bay network-attached storage (NAS) built for data consolidation and management.

Thus, many service providers are adopting various inorganic strategies to ramp up their PELS portfolio to meet increasing demand due to the increasing inclination of enterprises towards adoption of PELS, which may drive the personal and entry level storage (PELS) market growth. For instance, in May 2020, Dell EMC launched PowerStore, the much anticipated storage array line that unifies its formerly overlapping midrange products. PowerStore will be the benchmark for the rest of the storage array industry to compare, contrast and compete with.

Moreover, in January 2020, Hitachi Vantara launched Hitachi Virtual Storage Platform G130, an entry-level storage system for the India market. VSP G130 is an extension of the hybrid-flash VSP G series systems that supports smaller data center modernization initiatives.