Hard Disk Drive Market Deep Analysis of Key Vendor in the Industry 2022-2029

HDD manufacturers launch upgraded hard disk drive storage capacity formats at intervals of every two to three years. This would be a continuing trend in the global hard disk drive market over the forecast period (2022 – 2029), suggests a new Future Market Insights (FMI) report.

Global hard disk drive (HDD) sales surpassed revenues worth US$ 35 Bn in 2021. With multiplying data volumes encouraging enterprises to procure upgraded data storage technologies, the hard disk drive market is set for steady growth during the next decade.

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Key Takeaways – Hard Disk Drive Market Study

• Network-attached Storage (NAS) hard disk drives that currently hold a market share of over 2/5^th, would remain top selling in the global market for HDD. With the highest estimated incremental opportunity to be attained through 2029, NAS HDDs will continue to see double-digit growth over the period of projection.
• Sales of hard disk drives with storage capacities of up to 1 TB and above will collectively account for three-fourth of total HDD sales. Low storage capacity, though relatively less preferred, continues to witness sustained traction.
• USB port hard disk drives that currently make up for over a third of total sales will see steady adoption in the near future. Whereas, plug-in power sources of HDDs are set to gain popularity.
• Geographic expansion and collaborations with other hard disk drive providers would be the preferred developmental strategies of key players in HDD market.

Offline Functionality of HDD Storage Technology Remains USP

Owing to persistent ransomware attacks on networks of various organizations, customers have started procuring efficient magnetic storage technologies. Presence of an air gap acts as a security measure that isolates hard disk drives and prevents them from establishing external network connections.

This prevents the information stored on these tapes from falling prey to cyber-attacks, as they are not connected to the enterprise network, at least when switched off. Hard disk drive storage technology also trumps cloud infrastructure in this condition. Offline functionality of hard disk drive storage technology will thus bolster growth of the global hard disk drive market during the forecast period.

Insufficient Storage Capacities Continue to Limit Market Growth

Manufacturers in the hard disk drive market are focusing on enhancing data storage capacities to efficiently cater to massive digital data volumes. The relatively low availability of digital storage capacities will however continue to create a sizeable digital gap throughout the forecast period. The insatiable demand for enhanced data storage capacities in hard disk drives would thus restrict the market growth to a large extent in the near future.

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