Hard Disk Drive Market is Slated to Increase At a CAGR of 11.2% 2022 – 2029

Growing adoption of portable HDDs, desktop HDDs and network attached storage HDDs using magnetic disks to store operating systems, software programs and other files will witness steady growth in the global hard disk drive market. The growing demand for businesses to store data on flash drives and solid state drives (SSDs) is expected to drive the demand for hard disk drives market.

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As the data storage capacity of hard disk drives continues to increase, major manufacturers such as Toshiba are releasing hard disk drive storage technology upgrades frequently. As a result, magnetic storage remains the preferred option for long-term, large-capacity data backup and archiving, which will further drive sales of hard disk drives.

Key Facts – Hard Disk Drive Market Study

• Network-attached storage (NAS) hard disk drives, which currently account for more than two-fifths of the market share,  ^{will still remain the top sellers in the global HDD market.} With the highest incremental opportunity expected to be achieved by 2029, NAS HDDs will continue to show double-digit growth over the forecast period.
• Sales of hard disk drives with a storage capacity of up to 1TB or more will account for three-quarters of all HDD sales. Although relatively less favored, its low storage capacity continues to witness sustained traction.
• USB port hard disk drives, which currently account for more than a third of total sales, will see steady adoption in the near future. Meanwhile, plug-in power sources for HDDs are expected to gain popularity.
• Geographic expansion and cooperation with other hard disk drive providers will be the preferred development strategies for major players in the HDD market.

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By the end of 2020, hard disk drives are expected to fill almost all storage capacity requirements for cloud computing applications, with some of this data likely to be stored on magnetic tape. Manufacturers and suppliers continue to increase big data volumes, automation, cyber threats, demands for reduced downtime, and adoption of long-term data archiving solutions.

Offline functionality of HDD storage technology remains USP

With continuous ransomware attacks on various organizations’ networks, customers are starting to acquire efficient magnetic storage technology. The presence of an air gap is used as a security measure to isolate the hard disk drive and prevent it from establishing external network connections.

This will prevent the information stored on these tapes from becoming a victim of cyberattacks. At least because it’s not connected to the corporate network when it’s turned off. Hard disk drive storage technology outperforms cloud infrastructure even under these circumstances. Therefore, the offline capabilities of hard disk drive storage technology will underpin the growth of the global hard disk drive market during the forecast period.

Lack of storage capacity continues to limit market growth

Manufacturers in the hard disk drive market are focusing on increasing data storage capacity to efficiently accommodate large amounts of digital data. However, the relatively low availability of digital storage capacity will continue to create a significant digital divide over the forecast period. Therefore, the endless demand for improved data storage capacity of hard disk drives will significantly limit the market growth in the near future.

Learn More About FMI’s Hard Disk Drive Market Research

Future Market Insights provides an unbiased analysis of the global hard disk drive market by providing historical data for 2014-2021 and forecast statistics for 2022-2029. To understand the opportunities in the hard disk drive market, the market is segmented based on drive type, storage capacity, drive interface, and power in 7 major regions.

competitive landscape

• Western Digital Corporation
• Seagate Technologies LLC
• Toshiba Corporation
• transcendence
• Adata Technology Co., Ltd.

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