Storage market growing as consumers acquire more digital movies, music, and photos
DVRs and video downloads will push the storage needs of U.S. broadband households to almost one terabyte by 2014, creating a parallel rise in the market for file backup and storage solutions, according to international research firm Parks Associates.
The firm's new report Consumer Storage Opportunities finds almost 50% of households are performing regular backups, including external storage, flash drives, and online backup, up from only 35% in 2006.
"This is a classic example where growth in one area is spurring another industry," said Pietro Macchiarella, research analyst, Parks Associates. "As people accumulate more digital content, the prospect of losing that data becomes more ominous. Companies marketing network -attached storage (NAS) and home server devices should target high -use consumers such as videophiles and music enthusiasts and demonstrate the ease with which these products protect against loss of critical data."
Macchiarella predicts that consumers' backup methods will become more sophisticated as files get larger and as people invest more time and money into their digital media collections.
"The majority of consumers still use less -reliable media such as CDs, DVDs, and flash drives, but in the past four years, portable hard drives and direct - and networked -attached storage have become more popular," he said. "This trend will accelerate, fueled by growth in digital media and dropping storage costs. In particular, product revenues from NAS devices will nearly quadruple between 2010 and 2014."
Parks Associates' Consumer Storage Opportunities examines the current storage solutions on the market and highlights the growing business opportunities for CE manufacturers and service and technology providers. For more information, visit www.parksassociates.com or contact firstname.lastname@example.org, 972 -490 -1113.
About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start -ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes new media, digital entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts executive thought leadership conferences CONNECTIONS™, with support from the Consumer Electronics Association (CEA)®, and CONNECTIONS™ Europe. In addition, Parks Associates produces the online publication Industry Insights in conjunction with the CONNECTIONS™ Conference series.
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