Hard Disk Market Size to Worth USD 80.67 billion by 2030 at a CAGR of 5.6% | The Increasing Need for Data Storage Space

Hard Disk Market Overview:

According to the MRFR analysis reports, Global Hard Disk Market Research Report: Information by Application, Type, and Region—Forecast till 2030, the market is predicted to attain a size of approximately USD 80.67 billion by the end of 2030. The report further predicts the market for hard disks to flourish at a robust CAGR of over 5.6% during the review timeframe from 2020 to 2030.

Market Scope: The hard disk drive refers to a vital digital storage device retrieving and storing digital data using magnetic storage media. Data centers and personal computers are both familiar places where it is used. The requirement for these disks has risen in recent times given the rising requirements for data storage facilities among businesses and the advent of dependable and sophisticated solid-state drives (SSDs). The global market for hard disk drives has recorded immense growth in recent years. The main factor supporting the market’s growth is the increasing need for data warehouses across the globe. Furthermore, the advent of sophisticated and dependable solid-state drives (SSDs) is another prime aspect supporting the market’s growth. Moreover, aspects such as the growing investments into cutting-edge technology and demand for data storage facilities are also likely to influence the market’s growth over the coming years.

Report Scope:

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Competitive Analysis

The list of major critical participants across the global market for hard disks includes players such as:

• Intel Corporation (US)
• Micron Technology Inc. (US)
• Western Digital Corporation (US)
• Samsung Electronics (South Korea)
• Seagate Technology LLC (US)
• ADATA Technology Co. Ltd. (Taiwan)
• Toshiba Corporation (US)
• Hewlett Packard Enterprise Company (HP) (US)
• Sony Corporation (Japan)
• Apple Inc. (US)
• Transcend Information. Inc. (Japan)
• Mushkin Enhanced (US)
• SK Hynix Inc. (South Korea)
• Quantum Corp. (US)

Market USP Covered

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Market Drivers

The global market for hard disks has increased in recent years. The market’s growth is credited to the factors such as the need for information storage, digitalization, and the growing laptop industry.

Market Restraints

On the other hand, the increasing growth of mobile devices may impede the market’s performance.

COVID-19 Impact

The global health crisis has had a massive impact on the global market areas in recent times. At a very time, the pandemic affected several industrial and financial activities across nearly 225 countries worldwide. Like all the other market areas, the global hard disk market also faced several unimaginable challenges in recent times. On the other hand, with the fast vaccination rates and growing investments in the field, the global market for hard disks is anticipated to grow substantially over the coming years.

Segment Analysis

Among all the application areas, the notebook segment is anticipated to dominate the global market for hard disk drives over the coming years. based on the application; notebooks utilize various storage configurations with multiple use cases. The segment’s growth is credited mainly to the demand for notebook PCs with both an HDD and an SSD.

Among all the types, the hard disk drive (HDD) segment is projected to secure the top position across the global market for hard disks over the coming years. the growing demand for HDDs is the central aspect causing a boost in demand for these disks. Furthermore, the massive usage of personal computers and data centres because of their low costs compared to the SSDs is another prime parameter boosting the segment’s growth.

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Regional Analysis

The global market for hard disks is analyzed across five major regions: the Middle East and Africa, South America, Europe, North America, and Europe.

According to the research reports by MRFR, the Asia-Pacific region is anticipated to dominate the global market for hard disks over the assessment timeframe. China secured the top globally in 2018 with an estimated USD 17.15 billion. As per the researchers, the regional market is predicted to grow substantially at a robust CAGR of over 7.0 percent during the review timeframe. The existence of a large number of manufacturing companies across the region is the central aspect supporting the magnificent performance of the regional market for hard disks. Furthermore, the low-cost labor and development of cheap raw materials will likely boost the demand for these disk drives over the review timeframe.

The hard disk drive market for the North American region is anticipated to exhibit the maximum CAGR over the assessment timeframe. The existence of several data storage companies like Hewlett Packard Company and Seagate Technology plc is anticipated to boost the growth of the regional market. Furthermore, the fast adoption of the latest technologies will likely influence the regional market’s growth over the coming years.

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