The report of Global Hard Disk Market by Type (Hard Disk Drive (HDD), Solid State Drives (SDD), Hybrid Disk Drives (HHD)), Application (Notebook, Desktop, Servers), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 7.0% during a forecast period.
The hard disk is an electromechanical data storage device that uses magnetic storage to store and retrieve digital data using one or more rigid rapidly rotating platters coated with magnetic material. The global hard disk market is driven by the increasing need for data storage facilities among enterprises as well as the introduction of advanced and reliable SSDs. However, the high cost of the hard disk is restraining the market growth at the global level. Widespread adoption of cloud computing and significant development and expansion of IoT in various applications are expected to create beneficial opportunities for the key player in the market during the forecast period.
Solid-state drivessegment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the hard disk drive (HDD) segment has dominate the Hard disk market and is estimated to grow at a CAGR of 17% during the forecast period.The higher demand for HDDs and its extensively used in personal computers and data centers due to HDDs are inexpensive as compared to SSDs, their demand is higher. e.g., Microsoft Corporation announced to terminate the service of the Windows 7 operating system by 2020. This will lead to enterprises replacing PCs to use Windows 10 operating system. Also, enterprises are expected to upgrade their systems in order to strengthen their IT security. All these trends will significantly help in increasing the demand for HDDs. Solid-state drives (SSD) segment is expected to witness growth rate of XX% during the forecast periodowing to rising demand in telecommunication network devices.
The Asia Pacific dominated the hard disk market in 2019
In 2019, Asia Pacificheld the XX% share of the hard disk market and is expected to maintain its dominance during the forecast period. China and Japan are major contributors to regional market growth. Among these, china accounted for the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of 7.0%. Owing to the presence of a large number of manufacturing firms and the availability of low-cost raw materials as well as inexpensive labor. Key players in the market are highly investing in research and development activities for the introduction of the advanced had disk is predicted to accelerate the growth of this region in the near future.
Key players operating the global hard disk market are Western Digital Corporation, Seagate Technology LLC, Toshiba Corporation, Sony Corporation, Transcend Information. Inc., Samsung Electronics, ADATA Technology Co. Ltd., Hewlett Packard Enterprise Company (HP), Apple Inc., Quantum Corp., SK Hynix Inc., Intel Corporation, Mushkin Enhanced, and Micron Technology Inc.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Hard disk Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Hard disk Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Hard disk Marketpositioning of competitors.
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