Increasing Need for Data Storage Facility Among Enterprises to Drive the Global Hard Disk Market: MRFR :

Market Research Future (MRFR) will be publishing a cooked research report on the “Global Hard Disk Market” that contains the information from 2019 to 2027. 

MRFR recognizes the following companies as the key players in the global hard disk market—Western Digital Corporation (U.S.), Seagate Technology LLC (U.S.), Toshiba Corporation (Japan), Sony Corporation (Japan), Transcend Information. Inc. (Taiwan), Samsung Electronics (South Korea), ADATA Technology Co. Ltd. (Taiwan), Hewlett Packard Enterprise Company (U.S.), Apple Inc. (U.S.), Quantum Corp. (U.S.), SK Hynix Inc. (South Korea), Intel Corporation (U.S.), Mushkin Enhanced (U.S.), and Micron Technology Inc. (U.S.)

Market Highlights

The global hard disk market is projected to be valued at USD 71.57 billion by the end of 2027, registering a CAGR of more than 5.2% during the forecast period.

Hard disks refer to digital, magnetic, data storage devices capable of storing vast amounts of data such as documents, pictures, music, videos, programs, application preferences, operating systems, and similar other digital content. It is a rigid platter that features a substrate and a magnetic medium.The global hard disk market is growing steadily.

Key factors driving the market's growth are a significant increase in the need for storage, both at the enterprise and consumer levels. Furthermore, the introduction of new and advanced technologies for developing various hard disk products by manufacturers is further contributing to the hard disk market's growth.

The market for hard disk drives (HDDs) is relatively concentrated, with few players holding a significant share of the market. However, the SSD market is comparatively fragmented and attracts several new players. The reason for the same is the growing demand for SSD. To cater to the increasing demand, the HDD market players are also investing heavily in the SSD market.

For instance, in May 2021, Seagate Technology launched a new product Seagate One Touch SSD. It delivers NVMe-competitive performance and stylish portability for technology enthusiasts and content creators alike. One-Touch SSD offers maximum sequential read/write speeds (up to 1030MB/s)1 and up to 2TB of storage, making it a high-performance external drive optimized for efficiency when managing and transporting important files.

COVID-19 Impact Analysis

COVID-19 has impacted various industries worldwide, resulting in travel bans, worldwide lockdown, and the slowdown in the supply chain of various businesses. The semiconductor industry has also been deeply affected by the ongoing unprecedented event and witnessed a sharp decline in revenues due to the uncertain positioning of digital devices. Despite the growing uncertainties, semiconductor producers, especially hard disk manufacturers, try to continue the operations and work on their long-term strategies. Many semiconductor manufacturers are also collaborating with their partners and stakeholders in specific markets with consistent business stability. For instance, while focusing on the health and safety of their employees, the semiconductor manufacturers are making constant efforts for research, designs, and manufacturing processes.

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Segment Analysis

The global hard disk market has been classified on the basis of type, substrate, application, and region.

On the basis of type, the hard disk market has been segmented into Hard Disk Drives (HDD), Solid-State Drives (SSD), and Hybrid Disk Drives (HHD). The Hard Disk Drives (HDD) segment accounted for the largest market share in 2020 and is estimated to register a CAGR of 4.51% during the review period.

Based on substrate, the global market is bifurcated into aluminum and glass. The glass segment is expected to register the higher CAGR of 5.05% during the forecast period. Glass substrates are thinner, lighter, more rigid, expand less when heated, and can be made flatter.

By application, the hard disk market has been categorized into notebook, desktop, servers, and others. Notebook computers of varying use cases opt for different types of storage configurations based on the end-use application.

Key Findings of the Study:

  • The global hard disk market is projected to reach a value of USD 71.57 billion by 2027, with a CAGR of around 5.2% during the forecast period from 2021 to 2027.

  • Asia-Pacific accounted for the largest regional market share in 2020; the presence of several data centers and the generation of large volumes of data in this region have propelled the regional market's growth.

  • South America has registered significant demand for data storage devices as compared to other regions. Technological advancements and growing digital transformations are gradually contributing to the rapid growth of the Central & South American hard disk market.

  • The Middle East & Africa is an emerging market for hard disk. The region is expected to drive the hard disk market due to the increasing technological advancements and growing adoption of cloud technology.

  • Technological advancements such as Helioseal technology, innovations in hard disks, and the ever-increasing demand for storage from cloud-computing infrastructure, mobile applications, social media platforms, consumer markets, and business applications are presenting lucrative opportunities for the players in the global hard disk market.