Hard Disk Market Overview:
The Global Hard Disk Market is expected to reach 80.67 Billion by 2030, growing at a CAGR of 5.6% during the forecast period (2020—2030). In this report, Market Research Future (MRFR) includes market segmentation and market dynamics to offer a better glimpse of the market in the coming years.
The hard disk drive stores and retrieves digital data by using magnetic storage media. The companies’ higher need for data storage facilities is accelerating the demand for hard disks. The Hard Disk Market will notice a substantial growth in the coming years due to the rise in the need for data warehouses in the industries.
Data generation continues to surge, globally which in turn is increasing the demand for electronic data storage. This trend is therefore expected to increase the demand for hard disks. The increasing proliferation of digital commerce and internet-ready devices like smartphones, various consumer electronics, home appliances, and alarm monitoring systems, among others, have generated huge data over the cloud. Also, MRFR believes that the need for data storage will continue to increase in coming years as well largely from enterprises/corporate, enterprise data center as well as cloud service providers. According to World Economic Forum, at present each day around 500 million tweets and 294 billion emails are sent; 4 petabytes of data are created on Facebook; 4 terabytes of data are created from each connected car, and 65 billion messages are sent on WhatsApp. By 2025, it is estimated that 463 exabytes of data will be created each day globally.
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Global Hard Disk Market – Segmentations
The MRFR report highlights an inclusive segmental analysis of the global hard disk market based on application and type.
By type, the global hard disk market is segmented into hybrid disk drives (HHD), solid-state drives (SDD), and hard disk drive (HDD). Of these, the HDD segment will lead the market over the forecast period for its extensive use in data centers and personal computers. This will be followed by SDD segment that is predicted to grow at a healthy 17.0% CAGR by 2026.
By application, the global hard disk market is segmented into servers, desktop, and notebook. Of these, the notebook segment will dominate the market over the forecast period. This will be followed by the server segment, which is predicted to grow at a favorable 9.3% CAGR by 2026.
Global Hard Disk Market – Regional Analysis
According to the regional update, the Hard Disk Market is noticing tremendous growth in the regions such as the United States, Southeast Asia, China, Europe, India, Japan, the Middle East and Africa, Central and South America. Among the above regions, China captured the largest market share in 2018, and in the forecast period, it is expected to continue its growth consistency. The country is emerging due to the presence of huge manufacturing companies and the development of cheap raw materials and low-cost labour.
Japan is another chief contributor to the Hard Disk Market because the hard disk companies in Japan offer significant possibilities for suppliers operating in the sector. The following prominent companies are considered as the top players of the market: BUFFALO Inc., Hewlett-Packard Japan, Transcend, TOSHIBA, Samsung Electronics, and Seagate Technology LLC.
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Industry News
In 2019, Toshiba Electronic Devices and Storage Corporation launched MG08 Series, with the industry’s highest capacity conventional magnetic recording (CMR) hard drive (HDD), with a capacity of 16TB. These drives, which have 33 % more ability than commonly used 12TB drives and 14 % more capacity than prior 14TB models, are compatible with the largest selection of operating systems and applications.
Key Players
The prominent players operating in the hard disk market are Sony Corporation (Japan), Transcend Information. Inc. (Japan), Samsung Electronics (South Korea), ADATA Technology Co. Ltd. (Taiwan), Hewlett Packard Enterprise Company (HP) (US), Apple Inc. (US), Quantum Corp. (US), SK Hynix Inc. (South Korea), Intel Corporation (US), Mushkin Enhanced (US), and Micron Technology Inc. (US), Western Digital Corporation (US), Seagate Technology LLC (US), and Toshiba Corporation (US).
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