Friday, 10 June 2022

Hard Disk Market Share, Emerging Trend, Global Demand, Key Players Review and Forecast to 2030

Market Overview

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.

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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.

According to the reports, the Hard Disk Market is expected to reach a compound annual growth rate (CAGR) of 5.6 % by 2030 and a market value of USD 80.67 billion during the forecast period.

Market Segmentation

The Hard Disk Market is segmented into application and end-users. 

The application segment of the Hard Disk Market is divided into hard disk drives (HDD), solid-state drives (SDD), and hybrid disk drives (HHD). The end-user segment involves hospitals' notebooks, desktops, and servers.

Regional Analysis

According to the regional update, the Hard Disk Market is noticing tremendous growth in the regions such as the United States, Southeast Asia, China, Europe, India, Japan, the Middle East and Africa, Central and South America. Among the above regions, China captured the largest market share in 2018, and in the forecast period, it is expected to continue its growth consistency. The country is emerging due to the presence of huge manufacturing companies and the development of cheap raw materials and low-cost labour.

Japan is another chief contributor to the Hard Disk Market because the hard disk companies in Japan offer significant possibilities for suppliers operating in the sector. The following prominent companies are considered as the top players of the market: BUFFALO Inc., Hewlett-Packard Japan, Transcend, TOSHIBA, Samsung Electronics, and Seagate Technology LLC.

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Industry News

In 2019, Toshiba Electronic Devices and Storage Corporation launched MG08 Series, with the industry's highest capacity conventional magnetic recording (CMR) hard drive (HDD), with a capacity of 16TB. These drives, which have 33 % more ability than commonly used 12TB drives and 14 % more capacity than prior 14TB models, are compatible with the largest selection of operating systems and applications.

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