From GlobeNewswire: 2025-04-22 02:57:00

The Data Storage Converter Market was valued at $2.1 billion in 2023 and is projected to reach $4.98 billion by 2032, with a CAGR of 10.11%. Major players include ADATA, Apacer, Broadcom, Intel, and more. The market is driven by digital transformation and rising data security standards. North America dominated in 2023, while Asia Pacific is the fastest-growing region.

The U.S. Data Storage Converter Market was valued at $0.56 billion in 2023 and is projected to reach $1.35 billion by 2032, with a CAGR of 10.28%. Large enterprises held the largest market share in 2023, while SMEs are expected to grow at the highest CAGR. The market growth is driven by increasing data management needs and regulatory requirements.

Large Enterprises dominated the Data Storage Converter Market in 2023, while SMEs are set to surge with the fastest growth through 2032. Large enterprises have extensive data storage requirements, while SMEs are looking for low-cost and scalable solutions. Modern storage converters provide flexibility and deployment ease for SMEs.

Consumer Electronics dominated the Data Storage Converter Market in 2023, while Data Centers are poised for the fastest growth. The surge in cloud computing is driving data center growth, while consumer electronics demand energy-efficient storage. Storage converters are crucial for high-speed access and performance in consumer electronics.

Mobile Devices dominated the Data Storage Converter Market in 2023, while SoC Designs are set to accelerate with the highest growth rate. Mobile devices demand performance optimization, while SoC Designs will see more integrated advanced data storage converters for IoT and automotive systems. The U.S. and Canada lead in cloud services, big data use, and digital infrastructure, driving demand for fast data converters and storage facilities. In Asia Pacific, a high growth rate of 12.21% is projected from 2024-2032 due to technological transformation in countries like China, India, and Japan, boosting demand for data storage converters.

Recent developments include Apacer launching industrial storage solutions with enhanced capacity and superior data protection, and ADATA unveiling the USB4 SE920 External SSD for lightning-fast data transfer speeds. These innovations cater to the growing need for high-performance computing environments.

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Read more at GlobeNewswire: Data Storage Converter Market Size to Surpass USD 4.98