Global Hard Disk Drive Market Size, Share, Opportunities, And Trends By Type (Internal HDD, External HDD), By End-Users (Enterprises, Nearline Storage, Consumer Use), By Storage Capacity (Below 1TB, 1TB And Above), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061614636
  • Pages : 140

The hard disk drive market is expected to grow at a CAGR of 0.74%, reaching a market size of US$28.811 billion in 2029 from US$27.371 billion in 2022.

The growing use of portable hard disk drives, desktop hard disk drives, and network-attached storage hard disk drives to store operating systems, software programs, and other items on magnetic disks is expected to fuel consistent expansion in the global hard disk drive market. Moreover, the development of smart, connected technologies is boosting the demand for storage drives to store different types of data, therefore it is expected that the recent change in technical trends in the customer electronics industry will aid in the global hard disk drive market growth.

Further, to strengthen their manufacturing base and lessen their dependency on imports, several nations are launching programs, which should further propel market expansion. For instance, to encourage domestic electronics manufacturing, India suddenly banned the import of personal computers, including laptops and tablets, in August 2023. Additionally, several Indian businesses are looking to produce their laptops. Reliance Jio, for example, recently announced the release of a new laptop model. In a similar vein, New Delhi-based startup Primebook is making a laptop specifically for Indian students.

High demand in cloud data centres

The demand for data storage devices is anticipated to rise shortly due to the nearly triple increase in Internet protocol traffic in public cloud data centres. As a result, the hard disk drive market is anticipated to experience significant growth in the upcoming years. The hard disk drive market is expanding due to the growing adoption of cloud storage and other enterprise applications. Furthermore, one of the reasons for the growth in hard disk drive shipments and sales is the stability of the laptop market.

Companies embraced cloud computing solutions quickly in response to the sudden shift to remote work and the need for reliable and scalable infrastructure. Hybrid cloud became popular as businesses tried to combine the benefits of public cloud services with the administration and security of on-premises or private facilities.

Increasing demand in the consumer industry

Hard drive (HDD) adoption is notable in the consumer sector among other industries. These devices are being installed as recording/storage media in an increasing number of consumer electronics appliances as they become smarter by the day. HDD applications are quickly spreading to other consumer electronics devices, such as gaming consoles, standalone portable storage devices, and surveillance camera systems, in addition to their traditional application areas in PCs and smartphones. HDDs have a large capacity for storing video, which is crucial for continuously recording surveillance cameras.

Rising need for storage space

The consumer electronics sector is expanding and changing rapidly. Numerous innovations and new product launches in the industry have resulted in a sharp rise in data consumption as well. Global smartphone subscriptions were estimated by Ericsson to be slightly over 6.4 billion in 2022 and are predicted to surpass 7.5 billion by 2028; this growth is anticipated to increase demand for storage solutions.

Furthermore, Ericsson projects that by the end of 2023, the average monthly usage of smartphones worldwide will surpass 20 GB; this is anticipated to drive up demand for data centres since video is the primary data consumption.

North America is witnessing exponential growth during the forecast period

The growing use of network-attached hard drives and portable devices for operating systems, applications, and other data storage on hard disks will affect the market. These are mostly found in a wide range of consumer and electronic goods. They are made up of a reprogrammable rotating magnetic disk with a magnetic writing head and are mainly used for storing and retrieving digital information, including computer data.

Data centres are a component of the company. They are employed in productivity applications such as e-commerce transactions and business applications to store, manage, back up, and recover data. The market will benefit from the United States' growing data centre population.

For example, Cloudscene reports that as of 2023, the United States held the largest share of data centre locations worldwide, with 5,375 data centres. Germany and the United Kingdom both had 522 and 517 data centre locations, respectively.

Market key launches

  • In September 2023, the MG10F Series 22TB[1] HDD, a conventional magnetic recording (CMR) HDD that makes use of Toshiba's 10-disk helium-sealed design, was released by Toshiba Electronic Devices & Storage Corporation (Toshiba). The MG10F 22TB, a crucial component of cloud and storage infrastructure, offers 10% more capacity than Toshiba's previous generation 20TB model. The MG10F 22TB HDDs were created and engineered to satisfy the expanding data storage requirements of its biggest clients. They can be used with a variety of workloads and applications for both traditional data centre use cases and cloud-scale scenarios. The 22TB MG10F's larger capacity enables cloud-scale infrastructure to create higher storage densities at a reduced total cost of ownership.
  • In July 2022, Western Digital stated that it has begun distributing its new 22TB HDDs, which were created to target three important markets: WD Red Pro for network attached storage (NAS), WD Purple Pro for smart video/surveillance, and WD Gold HDDs for IT/data centre channel clients. To achieve the density of 2.2TB per platter, these drives make use of OptiNAND technology, energy-assisted PMR (ePMR), triple-stage actuator (TSA), and HelioSeal.
  • In March 2022, Seagate Technology LLC launched its “SkyHawk AI 20TB” hard disk drive in India which would be used in network video recorders, and would also support multiple videos & AI streams.

Global Hard Disk Drive Market Scope:

 

Report Metric Details
Market Size Value in 2022 US$27.371 billion
Market Size Value in 2029 US$28.811 billion
Growth Rate CAGR of 0.74% from 2022 to 2029
Study Period
2019 to 2029
Historical Data
2019 to 2022
Base Year 2023
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segments Covered
  • Type
  • End-User
  • Storage Capacity
  • Geography
Companies Covered
  • Seagate Technology Holdings PLC
  • Western Digital Corporation
  • Japan Industrial Partners Inc. (Toshiba Memory Corporation)
  • Hewlett Packard Enterprise Development LP
  • Sony Corporation
  • And more
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope Free report customization with purchase

 

Segmentation:

  • By Type
    • Internal HDD
    • External HDD
  • By End-User
    • Enterprises
    • Nearline Storage
    • Consumer Use
  • By Storage Capacity
    • Below 1TB
    • 1TB and above
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

The hard disk drive market is estimated to grow at a CAGR of 0.74% during the forecast period.
The global hard disk drive market is estimated to reach a market size of US$28.811 billion by 2029.
Hard Disk Drive Market was valued at US$27.371 billion in 2022.
The hard disk drive market growth is expected to be enhanced by the increasing investments in the development of the semiconductor industry.
The North America region exhibits the maximum growth potential of the hard disk drive market owing to the presence of semiconductor manufacturing industries in countries such as China, Japan, South Korea, and Taiwan.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. 3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. HARD DISK DRIVE MARKET, BY TYPE

5.1. Introduction

5.2. Internal HDD

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. External HDD

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

6. HARD DISK DRIVE MARKET, BY END-USER

6.1. Introduction

6.2. Enterprise

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Nearline Storage

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Consumer Use

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

7. HARD DISK DRIVE MARKET, BY STORAGE CAPACITY

7.1. Introduction

7.2. Below 1TB

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. 1TB and Above

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

8. HARD DISK DRIVE MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By End-User

8.2.3. By Storage Capacity

8.2.4. By Country

8.2.4.1. United States

8.2.4.1.1. Market Trends and Opportunities

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Trends and Opportunities

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Trends and Opportunities

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Type

8.3.2. By End-User

8.3.3. By Storage Capacity

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.1.1. Market Trends and Opportunities

8.3.4.1.2. Growth Prospects

8.3.4.2. Argentina

8.3.4.2.1. Market Trends and Opportunities

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Trends and Opportunities

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Type

8.4.2. By End-User

8.4.3. By Storage Capacity

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.1.1. Market Trends and Opportunities

8.4.4.1.2. Growth Prospects

8.4.4.2. Germany

8.4.4.2.1. Market Trends and Opportunities

8.4.4.2.2. Growth Prospects

8.4.4.3. France

8.4.4.3.1. Market Trends and Opportunities

8.4.4.3.2. Growth Prospects

8.4.4.4. Italy

8.4.4.4.1. Market Trends and Opportunities

8.4.4.4.2. Growth Prospects

8.4.4.5. Others

8.4.4.5.1. Market Trends and Opportunities

8.4.4.5.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By End-User

8.5.3. By Storage Capacity

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Trends and Opportunities

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Trends and Opportunities

8.5.4.2.2. Growth Prospects

8.5.4.3. Others

8.5.4.3.1. Market Trends and Opportunities

8.5.4.3.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By End-User

8.6.3. By Storage Capacity

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Trends and Opportunities

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Trends and Opportunities

8.6.4.2.2. Growth Prospects

8.6.4.3. India

8.6.4.3.1. Market Trends and Opportunities

8.6.4.3.2. Growth Prospects

8.6.4.4. South Korea

8.6.4.4.1. Market Trends and Opportunities

8.6.4.4.2. Growth Prospects

8.6.4.5. Others

8.6.4.5.1. Market Trends and Opportunities

8.6.4.5.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Seagate Technology Holdings PLC

10.2. Western Digital Corporation

10.3. Japan Industrial Partners Inc. (Toshiba Memory Corporation)

10.4. Hewlett Packard Enterprise Development LP

10.5. Sony Corporation

10.6. Transcend Information Inc.

10.7. Schneider Electric

10.8. Lenovo

10.9. ADATA Technology Co., Ltd.

10.10. Buffalo Americas Inc.


Seagate Technology Holdings PLC

Western Digital Corporation

Japan Industrial Partners Inc. (Toshiba Memory Corporation)

Hewlett Packard Enterprise Development LP

Sony Corporation

Transcend Information Inc.

Schneider Electric

Lenovo

ADATA Technology Co., Ltd.

Buffalo Americas Inc.