Overview of the market
The hard disk drive stores and retrieves digital data using magnetic storage media. Companies’ higher need for data storage facilities is accelerating the demand for hard disks.
Hard disk market Will notice significant growth in the coming years due to the increase in the need for data warehouses in industries. Also, to meet the public demand for the most efficient data storage facilities, hard disk manufacturers are investing heavily in innovative technology.
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The hard disk market is expected to reach a significant growth rate at a higher rate in the future due to the increase in demand for data storage facilities in various sectors. The increase in the number of people preferring to stay at home has increased the use of the internet. This factor increases the market demand for download, online video and audio broadcasts and conference calls in apps like Zoom.
Internet use was higher during downtime, resulting in huge amounts of data, which are managed in data center facilities around the world. Data centers responsibly process huge amounts of data, which encourage the use of hard disks, and as a result, the industry expands greatly. During the plague, the building production activity was suspended. Construction of new data centers was halted, leading to a decline in demand for hard disk drives, which impacted market growth. But in more days, the hard disk market will get a good score due to rising opportunities at the world level.
According to reports, the hard disk market is expected to reach a complex annual growth rate (CAGR) of 5.6% by 2030 and a market value of $ 80.67 billion during the forecast period.
Market segmentation
The hard disk market is segmented for applications and end users.
The hard disk market application segment is divided into hard disk drives (HDD), solid state drives (SDD) and hybrid disk drives (HHD). The end user segment includes laptops, desktops and hospital servers.
Regional analysis
According to the regional update, the hard disk market is experiencing tremendous growth in regions like the United States, Southeast Asia, China, Europe, India, Japan, the Middle East and Africa, Central and South America. Of the above regions, China captured the largest market share in 2018, and in the forecast period it is expected to continue its growth consistency. The country is emerging due to the presence of huge manufacturing companies and development of cheap raw materials and low cost labor.
Japan is another major contributor to the hard disk market because hard disk companies in Japan offer significant options to vendors operating in the field. The following prominent companies are considered the leading players in the market: Buffalo Ltd., Hewlett-Packard Japan, Transcend, Toshiba, Samsung Electronics and Seagate Technology LLC.
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Industry News
In 2019, the Toshiba Electronic Devices and Storage Corporation launched the MG08 series, with the highest-capacity conventional magnetic disk (HDR) drive (CMR) in the industry, with a capacity of 16 terabytes. These drives, which have a 33% higher capacity compared to common 12-byte drives and a 14% higher capacity compared to previous 14-byte models, are compatible with the largest selection of operating systems and applications.
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