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

Market Research Future (MRFR) has been published on the “Global Hard Disk Market”.

A hard disk is a non-volatile computer storage device that comprises magnetic disks or platters that rotate at high speed. It is a secondary storage device used for permanent data storage. The disk rotates at an accelerated rate, allowing data to be accessed directly. Based on type, the hard disk market includes hard disk drive (HDD), solid-state drive (SSD), and hybrid hard drive (HHD) that are used in various applications, including enterprises, notebook, desktop, and server.

The Hard Disk market is estimated to register a CAGR of 6.1% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Hard Disk market - Western Digital Corporation, Seagate Technology LLC, Toshiba Corporation, Sony Corporation, Transcend Information. Inc., Samsung Electronics, ADATA Technology Co. Ltd., Hewlett Packard Enterprise Company (HP), Apple Inc., Quantum Corp., SK Hynix Inc., Intel Corporation, Mushkin Enhanced, Micron Technology Inc and Others.

Market Highlights

The global Hard Disk market is expected to register a CAGR of 6.1% during the forecast period and is estimated to reach USD 99014.41 Million by 2032.

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 such as smartphones, consumer electronics, home appliances, and alarm monitoring systems have generated huge data over the cloud. Additionally, MRFR believes that the need for data will continue to increase in the coming years. The source of large volumes of data is expected to be enterprises/corporates, enterprise data centres, and cloud service providers.

Demand for solid-state drives (SSDs) is gaining momentum around the globe. SSDs are much more capable than traditional HDDs. SDDs are faster and have far superior storage capacity. It uses flash memory to store data, which in turn provides better performance and reliability to the end-user. The adoption of SSD has further gained pace due to the introduction of affordable SSDs by key vendors. For instance, in October 2023 Samsung introduced its latest external storage device, the portable solid-state drive (SSD) T9. It offers storage options up to 4TB, delivering fast data transfer speed and ample storage capacity.

The increasing penetration of high-speed Internet continues to play an important role in the expansion of the intelligent consumer electronics business, as individuals can now access internet services even in rural places. The International Telecommunication Union estimates that 4.9 billion people, or nearly 63% of the world's population, used the Internet in 2021. These kinds of trends have greatly increased demand for wearables, computers, and smartphones. For instance, according to the GSMA, by the end of 2025, there will be over 276 million 5G connections in the European region, with the Nordics and Western Europe experiencing the highest adoption rates. Thus, the rise of the consumer electronics industry will contribute to the growth of the hard disk market over the forecast period.

Segment Analysis

The global Hard Disk market has been segmented based on Type, Technology, Storage Capacity, Substrate, Application and End User.

Based on type, the global Hard Disk market segmentation includes Hard Disk Drive (HDD), Solid State Drives (SSD)and Hybrid Disk Drives (HHD). The Hard Disk Drive (HDD) segment held the majority share in 2022, contributing around ~51.9% to the market revenue. 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. A hard disk drive is a non-volatile memory hardware device, which permanently stores and retrieves data on a computer. It consists of a platter to which data is written using a magnetic head, all inside an air-sealed casing. Hard drives are used for storing large amounts of data, with typical storage capacities ranging from 1 terabyte to 6 terabytes on single drives.

Based on Technology, the global Hard Disk market segmentation includes Microwave-Assisted Magnetic Recording (MAMR), Heat-Assisted Magnetic Recording (HAMR), Shingled Magnetic Recording (SMR) and Perpendicular Magnetic Recording (PMR). The Perpendicular Magnetic Recording (PMR) segment held the majority share in 2022 contributing around ~85.2% to the market revenue. Perpendicular magnetic recording (PMR) has the fundamental potential of extremely high bit density recording. Although many efforts have been made for the practical use of PMR, the recording apparatus has still not been manufactured commercially.

Based on the Storage Capacity, the global Hard Disk market segmentation includes Above 1 TB, 500 GB - 1 TB and Less than 500 GB . By Storage Capacity, Above 1 TB segment hold the majority market share in 2022 contributing 78.5% of the market share. Maintaining a high cash flow in the business. The hard drive above 1TB can store a massive amount of data, which is perfect for gamers who have a large gaming library.

Based on the Substrate, the global Hard Disk market segmentation includes Aluminum and Glass. By Substrate, Aluminum segment hold the majority market share in 2022, contributing 86.3% of the market share. Hard disk drives (HDDs) predominantly use aluminum alloys in the base of the platters as they are non-magnetic, lightweight, can be ground precisely, and are relatively cost-effective. These substrates are widely used in hard disks designed for desktop PCs and servers. The launch of the fifth generation (5G) mobile communication service, the spread of the Internet of Things (IoT), and the development & expansion of digital transformation have led to increased data volumes that require high-end data storage capacity. This has led to rising demand for hard disks for data centers. Asia is the major supplier of aluminum substrates for hard disk platters.

Based on the Application, the global Hard Disk market segmentation includes HDD, SSD and HHD. By application, HDD segment hold the majority market share in 2022, contributing 51% of the market share. Desktops are traditional desk-based computers. Generally, desktop computers use hard drives for primary storage. In recent years, however, the affordability of solid-state storage has made it a viable option for desktop computing requirements. Entry-level SSDs offer up to ten times performance increase over regular hard drives. They are often adopted as a first, with a mechanical hard drive being added later down in the line in current desktop PC builds. The exponential increase in the size of computer applications such as games, which can take up several gigabytes, is encouraging consumers to purchase larger capacity drives. An enterprise HDD (Hard Disk Drive) refers to a type of hard drive designed and optimized for use in enterprise-level environments.

Based on the End User, the global Hard Disk market segmentation includes Personal, Business/Commercial and Governmental. By end user, Business/Commerical segment hold the majority market share in 2022, contributing 54.1% of the market share. The commercial use segment is expected to witness significant growth over the forecast period owing to an increase in data stored on corporate networks coupled with the rising adoption of cloud computing services by businesses worldwide. Cloud computing involves storing data online which requires a large amount of hard drive space as compared to non-internet capable applications that store data locally only requiring small amounts of hard drive space at any given point in time.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Hard Disk Market Research Report

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue, Asia pacific held the largest share of 35.1% in the Hard Disk market in 2022 and is expected to maintain its dominance during the forecast period. Asia-Pacific has been divided into China, Japan, South Korea, rest of Asia-Pacific. The Asia-Pacific region has dominated the renewable energy industry in recent years. The Asia Pacific region has witnessed remarkable economic growth in the last few decades. The emergence of countries like China, South Korea, Taiwan, and India, among others, has drastically altered the structure of the global market in several different industries. The demand for storage solutions across various sectors, including consumer, enterprise, and industrial, is anticipated to develop over the projected period due to the region's growing adoption of digital technologies.

Europe comprises of Germany, UK, France, Italy, Spain and rest of the Europe. The number of distributors and resellers of hard disks is growing rapidly in the region. Many of the leading players such as Toshiba, Seagate Technology LLC, and Western Digital Corporation have set up a massive supply chain via distributors and resellers in the region. Along with this, Europe is an attractive region as a data center location. Political stability and new laws governing data security—such as the European Union General Data Protection Regulation—are also helping increase demand for data centers in Europe. The need for various hard disks such as HDDs, SSDs, and HHDs is higher than these data centers and thus boosts the market.

The demand for the hard disk market in the UK is driven by enterprise cloud and software-as-a-service utilities. These include office productivity and file storage, e-commerce, social networking, search, streaming video services, gaming, and mobile apps. The UK is one of the largest markets in Europe for colocation data centers, which has further created growth opportunities for the market. The growing digitalization across the country and the utilization of Internet portals for day-to-day activities have influenced the demand for hard disks. The presence of different leading players such as Seagate Technology LLC and Western Digital Corporation has created a huge growth opportunity for the UK market.

Key Findings of the Study

  • The global Hard Disk market is expected to reach USD 99014.41 Million by 2032, at a CAGR of 6.1% during the forecast period.

  • The Asia Pacific region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments in Asia pacific, making it the primary contributor to the market share.

  • Based on Type, the Hard Disk Drive (HDD) segment was attributed to holding the largest market in 2022, with an approximate market share of 51.9%.

  • Western Digital Corporation, Seagate Technology LLC, Toshiba Corporation, Sony Corporation, Transcend Information. Inc., Samsung Electronics, ADATA Technology Co. Ltd., Hewlett Packard Enterprise Company (HP), Apple Inc., Quantum Corp., SK Hynix Inc., Intel Corporation, Mushkin Enhanced, Micron Technology Inc and Others are the key market players.

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Report details
Base Year 2023
Companies Covered 15
Pages 250
Certified Global Research Member
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