Global Hard Disk Market Analysis
The global Hard Disk Market is predicted to touch USD 93.88 billion at a 6.5% CAGR between 2018- 2026, states the recent Market Research Future (MRFR) analysis. The hard disk drive stores and retrieves digital data by using magnetic storage media. The companies' higher need for data storage facilities is accelerating the demand for hard disks.
The Hard Disk Market will notice a substantial growth in the coming years due to the rise in the need for data warehouses in the industries. Also, to meet the public's demand for the most effective data storage facilities, hard disk manufacturers are highly investing in cutting-edge technology.
Leading Players:
Key contenders profiled in the global hard disk market report include Micron Technology Inc. (US), Mushkin Enhanced (US), Intel Corporation (US), SK Hynix Inc. (South Korea), Quantum Corp. (US), Apple Inc. (US), Hewlett Packard Enterprise Company (HP) (US), ADATA Technology Co. Ltd. (Taiwan), Samsung Electronics (South Korea), Transcend Information. Inc. (Japan), Sony Corporation (Japan), Toshiba Corporation (US), Seagate Technology LLC (US), and Western Digital Corporation (US).
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Industry Highlights
The Hard Disk Market is expected to reach a significant growth rate at a higher pace in the future due to the rise in demand for data storage facilities in various sectors. The increased number of individuals preferring to remain at home has increased internet usage. This factor boosts the market's demand for downloading, online video and audio broadcasting, and teleconferencing on apps like Zoom.
Internet usage was higher during the shutdown, which resulted in massive data quantities, which are managed in data centre facilities across the world. Data centres responsibly process massive data quantities, which are encouraging the use of hard disks, and, as a result, the expansion of the industry is highly increasing. In the pandemic, the building manufacturing operations were suspended. The building of new data centres halted, which resulted in a reduction in the demand for Hard Disk drives, which affected the market's growth. But in the further days, Hard Disk Market will achieve a good score due to rising opportunities at the global level.
Hard Disk Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global HDD market based on application and type.
By type, the global hard disk market is segmented into hybrid disk drives (HHD), solid-state drives (SDD), and hard disk drive (HDD). Of these, the HDD segment will lead the market over the forecast period for its extensive use in data centers and personal computers. This will be followed by SDD segment that is predicted to grow at a healthy 17.0% CAGR by 2026.
By application, the global hard disk market is segmented into servers, desktop, and notebook. Of these, the notebook segment will dominate the market over the forecast period. This will be followed by the server segment, which is predicted to grow at a favorable 9.3% CAGR by 2026.
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Regional Analysis
Based on the region, the global hard disk market report covers the recent trends and growth opportunities across Central & South America, the Middle East and Africa, Japan, India, Southeast Asia, Europe, China, and the US.
Of these, China will dominate the market over the forecast period. It is likely to grow at a 7% CAGR by 2026. The availability of inexpensive labor and low-cost raw materials, coupled with the presence of multiple top manufacturing firms are adding to the global hard disk market growth in the region. The global hard disk market in China in 2018 was valued at USD 17.15 billion.
The global hard disk market in Japan is predicted to grow at a favorable 7.6% CAGR by 2026. The presence of top industry players, coupled with substantial opportunities offered to vendors operating in the market, is adding market growth.
The global hard disk market in India is predicted to have healthy growth over the forecast period. Increasing digitalization and growing demand for hard disks are adding market growth in the region.
The global hard disk market in the US is predicted to have steady growth over the forecast period for the extensive usage of e-commerce and social media.
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