ID: MRFR/SEM/6834-CR | August 2021 | Region: Global | 145 pages
Hard Disk Market Overview
According to the reports, The Hard Disk Market size is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027, reaching a market value of USD 71.57 billion. The hard disk drive is an electrical digital storage device that stores and retrieves digital data via the use of magnetic storage media. Personal computers and data centers are both frequent places where it is used. With the increasing need for data storage facilities among businesses, as well as the advent of dependable and sophisticated solid-state drives (SSDs), the need for hard Disk is increasing.
The worldwide Hard Disk Market demand is projected to expand substantially in the coming years, owing to the increasing need for data warehouses among businesses, as well as the advent of sophisticated and dependable solid-state drives (SSDs). In order to offer businesses and people the most effective data storage facilities possible, hard disk manufacturers are pouring millions of dollars into cutting-edge technology. The Global Hard Disk Market is anticipated to expand at a significant pace in the coming years as a result of the growing demand for data storage facilities among businesses, as well as the introduction of sophisticated and dependable solid-state drives (SSDs). Hard Disk manufacturers are making substantial investments in cutting-edge technology in order to provide the most effective data storage solutions to businesses and people alike.
Hard Disk Market report contains all the information on the Hard Disk drive industry outlook and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the Hard Disk Market analysis and forecast for 2027 is also included in the report.
Covid 19 Analysis
It has only taken a few days for the COVID-19 epidemic to spread throughout the world. People are being compelled to remain at home in order to prevent the spread of the illness. The growing number of individuals who prefer to remain at home has resulted in increasing Internet use, which has boosted demand for online video/audio broadcasting, downloading, and teleconferencing on apps such as Zoom, among other things. While the Internet was being increasingly used during the shutdown, this resulted in the production of massive quantities of data, which had to be handled by data center facilities all around the globe. Data centers are responsible for processing these massive quantities of data, which encourages the use of hard discs and, as a result, the expansion of the industry. Building operations have been suspended, and the COVID-19 epidemic has delayed the building of new data centers, which has resulted in a reduction in the use of hard Disk drives, which is impeding further growth in the market.
The need for information storage, the growing laptop industry, and digitalization are all anticipated to propel the Hard Disk Market to considerable heights in the coming years. Apart from that, government regulations that encourage digitization and the use of internet portals for everyday activities are generating data that is pushing the Hard Disk Market growth forward.
Hard Disk manufacturers are making substantial investments in cutting-edge technology in order to provide the most effective data storage solutions to businesses and people alike.
With the increasing growth of mobile devices in recent times, the usage of personal computers is gradually being phased out, which is a factor that may have an adverse effect on the future sales growth of the worldwide Hard Disk Market.
The suspension of building operations and the resulting delays in the opening of modern data centers as a result of the COVID-19 epidemic have resulted in a decrease in the use of hard Disk drives, which can be considered as a major challenge for the Hard Disk Market. Furthermore, the Hard Disk Market has seen a decrease in income as a result of the decrease in the shipping of personal computers prior to the pandemic.
Cumulative Growth Analysis
At the moment, the hard Disk industry is highly consolidated, with Western Digital Corporation, Seagate Corporation, and Toshiba Corporation accounting for more than 70% of the total market share. In contrast to the solid-state drive (SSD) industry, the hard Disk drive (HDD) market is extremely consolidated (SSD). Additionally, businesses are required to update their systems in order to improve their information technology security. All of these developments will contribute substantially to the increase in demand for hard disk drives. A number of hard disk manufacturers have boosted their manufacturing of solid-state drives (SSDs) in response to increasing demand for the technology in the market. In addition, the industry is seeing a decline in the costs of hard drives, making them more accessible for end consumers.
Value Chain Analysis
According to the reports, The worldwide hard Disk market has been divided based on the kind of hard Disk, the application of the hard Disk, and the region in which it is located. Depending on the type, the hard disk market has been divided into three categories: hard disk drives (HDD), solid-state drives (SDD), and hybrid disk drives (HHD). In 2018, the hard disk drive (HDD) category had the greatest hard disk market share of 80 percent; however, the solid-state drive (SSD) segment is projected to grow at the fastest rate, with a compound annual growth rate (CAGR) of 17.0 percent. In terms of application, the notebook segment had the highest market share in 2018, accounting for 39 percent of the total market share. During the projection period, the server sector, on the other hand, is projected to grow at the fastest rate, with a CAGR of 9.3 percent.
The market is segmented on the basis of the kind of hard disc, the application of the hard disc, and the region in which it is located. The global hard disk market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into hard disk drives (HDD), solid-state drives (SDD), and hybrid disk drives (HHD).
Based on the propulsion types, the market is segmented into hospitals’ notebooks, desktops, and servers.
According to the reports, Geographically, the worldwide hard disk market has been divided into the following regions: the United States, China, Europe, Southeast Asia, India, Japan, the Middle East, and Africa, Central and South America, and the Middle East and Africa. China accounted for the biggest share of the market in 2018, with a market value of USD 17.15 billion; the market is expected to grow at a compound annual growth rate (CAGR) of 7.0 percent during the forecast period. The presence of a large number of manufacturing companies, as well as the development of cheap raw materials and low-cost labor, may all contribute to growth.
Japan, on the other hand, is projected to have the highest CAGR, at 7.6 percent. This is due to the fact that the hard disk industry in Japan is expected to offer significant possibilities for suppliers operating in the sector. The following companies are among the top participants in the industry: BUFFALO Inc., Samsung Electronics, Hewlett-Packard Japan, Transcend, TOSHIBA, and Seagate Technology LLC.
The worldwide hard disk market is fairly fragmented and aggressive due to the presence of a large number of international and regional competitors. In order to maintain their position in the market, industry players are actively engaged in technical development, regional expansion, acquisitions and mergers, and other forms of strategic growth.
Major Key Players
The following report comprises of –
Segmentation of the Global Hard Disk Drive Market:
Segmentation by Type:
Segmentation by Application:
Segmentation by Regions:
|Market Size||USD 71.57 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Western Digital Corporation (US), Seagate Technology LLC (US), Toshiba Corporation (US), 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)|
|Key Market Opportunities||Hard disk manufacturers are significantly investing in advanced technologies in order to offer the most efficient data storage facilities to enterprises as well as individuals.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
At 6.5% CAGR, the hard disk market can value USD 93.88 Bn by 2026.
Western Digital Corporation (US), Toshiba Corporation (US), and Seagate Technology LLC (US) are some reputed names in the hard disk market.
Hard disk drive (HDD), hybrid disk drives (HHD), and solid-state drives (SDD) are types of hard disk.
The SSD type segment of the market can expands at 17.0% CAGR in the evaluation period.
The China hard disk market likely to surge at 7.0% CAGR in the study period.
The Japan hard disk market can expand at 7.6% CAGR in the review period.
Notebook, servers, and desktop are products that have hard disk. The server segment of market to thrive at 9.3% CAGR in the review period.