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 [email protected], 972-490-1113.

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
 

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