HP says consumers are living increasingly digital lifestyles and accumulating rising amounts of digital photos, music, videos and other content. And to help home users to protect, share and connect to their digital content and Internet entertainment – from home or on the go HP is introducing the HP Media Vault mv2120.

The company says this is the first in a new category of easy-to-use products for the central storage, content sharing and backup of all computers on a home or small business network. The mv2120 can be set to automatically back up important media and digital files weekly, daily or continuously – as often as needed.

This product also offers some of the features found in the HP MediaSmart Server, including Photo Webshare, iTunes server and remote access. With Photo Webshare, consumers can create a photo-sharing website on the Media Vault, and with iTunes server, they can centralize their iTunes music library for playback on any computer running iTunes on the network.

While HP MediaSmart Server run Microsoft's Windows Home Server, the HP Media Vault mv2120 is Linux-based.

Remote access grants designated users enhanced security for accessing important files on the network from any Internet-connected computer, even while outside of the home or office. Additionally, the mv2120 offers exceptionally low power consumption and a smart energy-saving drive spin down feature.

Even though HP put out a press release quoting study saying that by 2013 the average home will require 9 TB storage capacity, the mv2120 ships with only 500 GB capacity.

HP says this new storage device can benefit individuals and small businesses with fewer than 10 employees. HP also recently introduced the HP Media Vault mv5100 Pro series, available in 1 TB and 1.5 TB capacities, which is specifically targeted to small businesses.