Market Research Future published a research report on “Hard Disk Market Research Report – Global Forecast to 2026” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2026.
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. A hard disk drive or what is commonly called a hard drive, simply put, is an electromechanical data storage device that utilizes magnetic storage for storing and recovering digital data with the help of one or above rigid rotating disks that are coated using magnetic material.
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Various factors are propelling the global hard disk market share. According to the recent MRFR report, such factors include the burgeoning demand for hard disks from data centres, the rising proliferation of internet-ready devices and digital commerce like alarm monitoring systems, home appliances, various consumer electronics, and smartphones, and steadiness in the laptop market. Additional factors adding market growth include the constant need for data storage in the coming years from cloud service providers, enterprise data center, and enterprises/corporate, and use of NAND technology in USB flash drives, MP3 players, & digital cameras.
On the contrary, a fall in demand for PCs and the impact of the on-going COVID-19 outbreak may impede the global Hard Disk Market growth over the forecast period.
Global Hard Disk Market – Segmentations
The global hard disk market has been segmented on the basis of type, application, and region.
Based on type, the hard disk market has been segmented into hard disk drive (HDD), solid-state drives (SDD), and Hybrid Disk Drives (HHD). The HDD segment accounted for the largest market share in 2018, with a market value of USD 44.93 billion; it is expected to register the CAGR of 2.3% during the forecast period. As the hard drives are used for storing large volumes of data, with typical storage capacities ranging from 1 terabyte to 6 terabytes on a single drive.The SSD segment was the second-largest market in 2018, valued at USD 9.31 billion; it is projected to exhibit a CAGR of 17.0%. Solid-state drives are generally more resistant to physical shock and damage due to lack of moving parts. They also have silent operations, quicker input/output operations per second (IOPS) than HDDs and much lower latency. These are some of the factors responsible for the growth of the SSD market during the forecast period.
Based on application, the hard disk market has been categorized into notebook, desktop, and server. The notebook segment accounted for the largest market share in 2018, with a market value of USD 22.18 billion; it is expected to register the CAGR of 6.1% during the forecast period. Notebooks today opt for a combination of a hard disk drive and solid-state drives. This is one of the factors that drive the growth of the market. The server segment was valued at USD 16.34 billion; it is projected to exhibit the highest CAGR of 9.3%. With the growth of streaming services and cloud technologies are some of the factors responsible for the growth of the market during the forecast period.
The prominent players operating in the hard disk market are Sony Corporation (Japan), Transcend Information. Inc. (Japan), Samsung Electronics (South Korea), ADATA Technology Co. Ltd. (Taiwan), Hewlett Packard Enterprise Company (HP) (US), Apple Inc. (Ticker: AAPL) (US), Quantum Corp. (US), SK Hynix Inc. (South Korea), Intel Corporation (Ticker: INTC) (US), Mushkin Enhanced (US), and Micron Technology Inc. (Ticker: MU) (US), Western Digital Corporation (US), Seagate Technology LLC (US), and Toshiba Corporation (US).
Global Hard Disk Market – Regional Analysis
Regionally, the hard disk market has been divided into the US, China, Europe, SoutheastAsia, India, Japan, the Middle East & Africa, and Central and South America. The US led the hard disk market from 2014 to 2016, whereas China is expected to lead the hard disk market from 2017 to 2026. Japan is expected to be the fastest-growing country-level market in the hard disk market during the forecast period, registering a CAGR of 7.6%, followed by India.
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