The North America Data Storage Converter Market is expected to witness market growth of 9.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Data Storage Converter Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD1.00 billion by 2031. The Canada market is experiencing a CAGR of 10.4% during 2024-2031. Additionally, the Mexico market would showcase a CAGR of 10.2% during 2024-2031.
One of the key drivers behind the growth of the data storage converter market is the increasing reliance on cloud computing and hybrid cloud environments. Where cloud adoption is becoming ubiquitous across industries, the demand for data storage converters is expected to rise significantly. In addition to cloud computing, the proliferation of IoT devices has profoundly impacted data generation and storage requirements.
Additionally, IoT devices, which include everything from smart home gadgets to industrial sensors, generate massive amounts of real-time data that must be stored, processed, and analyzed. As businesses deploy more IoT devices, efficient and scalable storage solutions are needed.
The rapid adoption of digital technologies across both public and commercial sectors is a key driver behind the significant growth of North America's data storage converter market. Government initiatives to improve digital infrastructure, enhance cybersecurity, and ensure regulatory compliance further shape the region’s data storage landscape, contributing to continued market expansion in the coming years.
The US market dominated the North America Data Storage Converter Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD1.00 billion by 2031. The Canada market is experiencing a CAGR of 10.4% during 2024-2031. Additionally, the Mexico market would showcase a CAGR of 10.2% during 2024-2031.
One of the key drivers behind the growth of the data storage converter market is the increasing reliance on cloud computing and hybrid cloud environments. Where cloud adoption is becoming ubiquitous across industries, the demand for data storage converters is expected to rise significantly. In addition to cloud computing, the proliferation of IoT devices has profoundly impacted data generation and storage requirements.
Additionally, IoT devices, which include everything from smart home gadgets to industrial sensors, generate massive amounts of real-time data that must be stored, processed, and analyzed. As businesses deploy more IoT devices, efficient and scalable storage solutions are needed.
The rapid adoption of digital technologies across both public and commercial sectors is a key driver behind the significant growth of North America's data storage converter market. Government initiatives to improve digital infrastructure, enhance cybersecurity, and ensure regulatory compliance further shape the region’s data storage landscape, contributing to continued market expansion in the coming years.
List of Key Companies Profiled
- VMware, Inc. (Broadcom Inc.)
- Intel Corporation
- NXP Semiconductors N.V.
- ON Semiconductor Corporation
- Phison Electronics Corporation
- Microchip Technology Incorporated
- STMicroelectronics N.V.
- Texas Instruments, Inc.
- Analog Devices, Inc.
- Apacer Technology Inc.
Market Report Segmentation
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By Application
- Consumer Electronics
- Data Centers
- Enterprise Storage
- Automotive Systems
- Other Application
By Type
- Mobile Devices
- Embedded Systems
- Single-Board Computers (SBCs)
- System-on-Chip (SoC) Designs
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Data Storage Converter Market by Enterprise Size
Chapter 6. North America Data Storage Converter Market by Application
Chapter 7. North America Data Storage Converter Market by Type
Chapter 8. North America Data Storage Converter Market by Country
Chapter 9. Company Profiles
Companies Mentioned
Some of the key companies in the North America Data Storage Converter Market include:- VMware, Inc. (Broadcom Inc.)
- Intel Corporation
- NXP Semiconductors N.V.
- ON Semiconductor Corporation
- Phison Electronics Corporation
- Microchip Technology Incorporated
- STMicroelectronics N.V.
- Texas Instruments, Inc.
- Analog Devices, Inc.
- Apacer Technology Inc.
Methodology
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