The global data storage converter market size was valued at USD 1.94 billion in 2023 and is anticipated to grow at a CAGR of 9.9% from 2024 to 2030. Several key factors are driving the growth of the market. The increasing demand for data centers, driven by the exponential growth of cloud computing, artificial intelligence, and big data, has created a significant need for advanced data storage solutions capable of efficiently handling vast amounts of information.
Additionally, the ongoing digital transformation across enterprises and the rising adoption of hybrid cloud solutions are propelling the need for high-performance data storage converters. The continued demand for portable devices such as smartphones, laptops, and tablets further fuel the consumer electronics market. Moreover, the automotive industry's shift toward autonomous driving and advanced infotainment systems contributes to the rising demand for data storage converters. These factors, along with advancements in storage technologies and increasing integration of IoT devices across industries, collectively drive the market's expansion.
The increasing demand for data centers is a major driver of the market, as modern data centers require advanced storage infrastructure to manage and process the ever-growing volume of data generated by cloud computing, big data analytics, artificial intelligence, and the Internet of Things (IoT). Data storage converters are critical in facilitating efficient and high-speed data transfer between various storage devices, ensuring optimal performance in these data-intensive environments. As enterprises continue to scale their operations and embrace cloud-based services, the need for scalable, reliable, high-performance data storage solutions becomes paramount. Consequently, data storage converters that support faster data access, better storage management, and enhanced compatibility across different systems are in high demand, further fueling the market's growth.
The ongoing digital transformation across enterprises and the rising adoption of hybrid cloud solutions drive the demand for high-performance data storage converters. As businesses increasingly shift towards digitization, there is a growing need to manage, store, and process vast amounts of data securely and efficiently. Hybrid cloud solutions, which combine on-premises infrastructure with cloud storage, offer flexibility and scalability but require robust data storage systems seamlessly integrating different storage environments. High-performance data storage converters enable smooth data migration, interoperability, and real-time data access between diverse systems, ensuring that enterprises can meet digital transformation goals without compromising performance or security. This rising complexity and volume of enterprise data and the need for flexible and scalable storage solutions are key factors propelling the demand for advanced data storage converters.
Global Data Storage Converter Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global data storage converter market report based on type, enterprise size, application, and region:
Type Outlook (Revenue, USD Billion, 2018 - 2030)
Mobile Devices
Embedded Systems
Single-Board Computers (SBCs)
System-on-Chip (SoC) Designs
Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
Large Enterprises
Small & Medium Enterprises
Application Outlook (Revenue, USD Billion, 2018 - 2030)
Consumer Electronics
Data Centers
Enterprise Storage
Automotive Systems
Others
Regional Outlook (Revenue, USD Billion, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Asia Pacific
China
India
Japan
South Korea
Australia
Latin America
Brazil
Middle East & Africa
U.A.E
Saudi Arabia
South Africa
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Data Storage Converter Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.2. Market Restraints Analysis
3.3.3. Industry Opportunities
3.4. Data Storage Converter Analysis Tools
3.4.1. Porter's Analysis
3.4.1.1. Bargaining power of the suppliers
3.4.1.2. Bargaining power of the buyers
3.4.1.3. Threats of substitution
3.4.1.4. Threats from new entrants
3.4.1.5. Competitive rivalry
3.4.2. PESTEL Analysis
3.4.2.1. Political landscape
3.4.2.2. Economic and Social landscape
3.4.2.3. Technological landscape
3.4.2.4. Environmental landscape
3.4.2.5. Legal landscape
Chapter 4. Data Storage Converter Market: Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Data Storage Converter Market: Type Movement Analysis, USD Billion, 2023 & 2030
4.3. Mobile Devices
4.3.1. Market size estimates and forecasts, 2018-2030 (USD Billion
4.4. Embedded Systems
4.4.1. Market size estimates and forecasts, 2018-2030 (USD Billion
4.5. Sales Monitoring & Planning
4.5.1. Market size estimates and forecasts, 2018-2030 (USD Billion
4.6. System-on-Chip (SoC) Designs
4.6.1. Market size estimates and forecasts, 2018-2030 (USD Billion