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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