The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Hard Disk Market Share. The growth sectors of the Hard Disk Market Share are identified with precision for a better growth perspective.
The global hard disk market is estimated to reach USD 93.88 billion by 2026 with a CAGR 6.5% during the forecast period (2018—2026)
Demand for solid-state drives is gaining momentum around the globe. SSDs are much more capable than traditional HDDs. SDDs are faster and have far superior storage capacity. They use flash memory to store data, which in turn provides better performance and reliability in end-use applications. The adoption of SSD has further gained pace due to the introduction of affordable SSDs by key vendors. SSDs are increasingly being used in laptops, notebooks, and smartphones. Also, with the growth in the shipment of smartphones and laptops, the demand for SSDs is further increasing. Due to the growing demand for SSDs, the manufacturers are focusing on their production, in order to effectively meet the demand. For instance, in 2018, Western Digital announced its long-term plan to increase the production of SSDs. The company has planned to expand SSD manufacturing in Penang, Malaysia. Similarly, in 2018, Samsung announced the mass production of the industry’s first 4-bit (QLC, quad-level cell) 4-terabyte (TB) SATA solid-state drive (SSD) for consumers. Due to a considerable shift to SSDs among individual consumers and cloud service providers, manufacturers are increasing the production of SSDs, which in turn is increasing the overall hard disk market.
The prominent players profiled in the hard disk market include Hewlett Packard Enterprise Company (HP) (US), Apple Inc. (US), Quantum Corp. (US), SK Hynix Inc. (South Korea), Intel Corporation (US), Mushkin Enhanced (US), and Micron Technology Inc. (US), Western Digital Corporation (US), Seagate Technology LLC (US), Toshiba Corporation (US), Sony Corporation (Japan), Transcend Information. Inc. (Japan), Samsung Electronics (South Korea), and ADATA Technology Co. Ltd. (Taiwan).
The hard disk segment has been categorized 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).
Based on application, the hard disk market has been categorized into notebook, desktop, and server.
Based on region, the market has been categorized into the US, China, Europe, Southeast Asia, India, Japan, the Middle East & Africa, and Central and South America.
Geographic analysis of the hard disk market has been done for the US, China, Europe, SoutheastAsia, India, Japan, the Middle East & Africa, and Central and South America.
China accounted for the largest market share in 2018. The rapid adoption of cloud computing, a growing number of data centers, and the generation of significant volumes of data are the reasons boosting the growth of the hard disk market in the region. The manufacturing plants of various leading players such as Seagate Technology LLC and Hitachi Global Storage Technologies are present in China. Along with this, a number of regional players such as Shenzhen Xinkerui Electronic Technology Co., Ltd, Shenzhen KingSpec Electronics Technology Co., Ltd, Shenzhen Kingdisk Century Technology Co., Ltd, Shenzhen Flashine Science and Technology Co., Ltd, Shenzhen Junhaowei Technology Co., Ltd, Shenzhen Topadkiosk Technology Co., Ltd, Shenzhen Xinkerui Electronic Technology Co., Ltd, and Shenzhen Joinwin Technology Ltd are present in the country.
The US is expected to be the second-largest market during the forecast period. This country is hub to some of the largest multinational corporations operating in this market, including leading players such as Seagate Technology LLC and Western Digital Corporation. The market is also increasing owing to digital transformation, proliferation of the Internet of Things (IoT), as well as cloud technology, which is leading to a large amount of data being generated. New and improved technologies are assisting in developing the newer versions of hard disks. These factors are crucial in driving the market in North America. Along with this, the growing demand for hard disks from enterprises across all verticals as well as individual customers is expected to boost the growth of the hard disk market in North America.
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