Hard Disk Market to Achieve USD 93.88 Billion by 2026 at 6.5% CAGR | China to Foster the Global Hard Disk Industry

Worldwide hard disk market players are Western Digital Corporation (US), Transcend Information. Inc. (Japan), Seagate Technology LLC (US), Toshiba Corporation (US), Sony Corporation (Japan), Hewlett Packard Enterprise Company (HP) (US), Samsung Electronics (South Korea), ADATA Technology Co. Ltd. (Taiwan), Apple Inc. (US), Quantum Corp. (US), Mushkin Enhanced (US), SK Hynix Inc. (South Korea), Intel Corporation (US), and Micron Technology Inc. (US).

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Pune, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Market Analysis
Market Research Future (MRFR) presumes the global hard disk market revenue to reach USD 93.88 billion at a 6.5% CAGR from 2014 to 2026 (forecast period).

The global hard disk market is expected to grow significantly due to the growing need for data storage facilities among companies and the introduction of advanced and reliable SSDs. Hard disk manufacturers are investing heavily in cutting-edge technologies to provide companies and individuals with the most efficient data storage facilities. The hard disk market is presently concentrated, with Western Digital Corporation, Seagate, and Toshiba responsible for more than 70% of the market share. The market for hard disk drive (HDD) is highly concentrated relative to the market for solid-state drives (SSD). The HDD segment has a market share of 80.5% in the overall hard disk market. HDDs are commonly used in personal computers and data centers. Also, because the HDDs are cheaper than the SSDs, their demand is higher. However, the HDD industry experienced a decline in sales from 2014 to 2018, primarily due to the declining shipment of personal computers (PCs) across the globe.

However, according to the MRFR report, the HDD market will pick up from 2020 due to the increasing need for such drives among data centers. Also, according to the analysis, the shipment of PCs will increase dramatically in the coming years, as Microsoft Corporation has announced the termination of the Windows 7 operating system by 2020. This will result in companies replacing PCs to use Windows 10 operating system. In addition, companies are expected to update their systems to improve their IT security. All these trends will make a major contribution to the growing demand for HDDs. A number of hard disk players have increased their production of SSD due to increased market demand for the same. In addition, the industry is registering a drop in hard disk costs, making them more affordable for end-users.

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COVID-19 Impact on the Global Hard Disk Market 
The hard disk drive is an electromechanical data storage device that uses magnetic storage to store and retrieve digital data. It is commonly used in data centers and personal computers. The growing need for data storage facilities between companies and the introduction of reliable and advanced SSDs is spurring the demand for hard disks. The COVID-19 pandemic has spread rapidly across the globe. People are forced to stay at home to stop the spread of the virus. Increasing numbers of people staying at home have led to increased use of the Internet, bolstering demand for online video/audio streaming, downloading, and video conferencing on applications such as Zoom. The increased use of the Internet during the lockdown has led to the generation of vast amounts of data that need to be managed by data center facilities around the world. Data centers are processing these vast amounts of data, which leads to the adoption of hard disks and therefore drives the growth of the market. On the other hand, however, the halt in construction activities and the delays caused by the COVID-19 pandemic in the construction of new data centers have reduced the adoption of hard disk drives, which is hindering the development of the market. In addition, due to the declining shipment of personal computers prior to the pandemic, the hard disk market has seen a decline in revenue.

During the pandemic, the widespread acceptance of work from home policy has contributed to a short-term increase in demand for PCs and other systems for remote work; nevertheless, it has also driven the demand for data centers that support cloud-based and remote work, in turn, propelling the demand for nearline HDDs for majority secondary storage and SSDs for primary storage throughout 2020. The COVID-19 pandemic affected HDD production in Q1 2020, particularly in China and Southeast Asian HDD and HDD-component production sites in Thailand and Malaysia. The demand for nearline storage was expected to continue in Q2 2020 as more work was being done remotely.

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Market Segmentation
The global hard disk market has been segmented based on type and application.

Based on the type, the global hard disk market has been segmented into hard disk drive (HDD), solid-state drives (SDD), and hybrid disk drives (HHD). The hard disk drive (HDD) segment held the largest market share of 80% in 2018; However, the solid-state drives (SSD) segment is expected to register the highest CAGR of 17.0%

Based on the application, the global hard disk market has been segmented into notebook, desktop, and servers. The notebook segment held the largest market share of 39% in 2018. However, the server segment is projected to register the whopping CAGR of 9.3% during the assessment period.

Regional Analysis
Geographically, the global hard disk industry has been segmented into the US, China, Europe, Japan, Southeast Asia, India, the Middle East & Africa, and Central and South America.

China to lead the global market 
China held the largest market share in 2018, with a market value of USD 17.15 billion in 2018; the market is projected to register a CAGR of 7.0% during the forecast period. Growth can be due to the existence of many manufacturing firms and the availability of low-cost raw materials and low-cost labor.

However, Japan is expected to have the highest CAGR of 7.6%. This is because Japan's hard disk market is likely to provide considerable opportunities for vendors operating in the market. Some of the leading industry players are BUFFALO Inc., Samsung, Hewlett-Packard Japan, Transcend, TOSHIBA, and Seagate Technology LLC.

COVID-19 Impact on Hard Disks Market
https://www.marketresearchfuture.com/report/covid-19-impact-hard-disk-market

Competitive Landscape 
With the presence of a large number of international and regional players, the global hard disk market is moderately fragmented and competitive. Market players are actively involved in technological advancement, geographic expansion, and mergers and acquisitions in order to sustain their position in the market.

Notable Players in The Global 5G Technology Market Are:

  • Western Digital Corporation (US)
  • Transcend Information. Inc. (Japan)
  • Seagate Technology LLC (US)
  • Toshiba Corporation (US)
  • Sony Corporation (Japan)
  • Hewlett Packard Enterprise Company (HP) (US)
  • Samsung Electronics (South Korea)
  • ADATA Technology Co. Ltd. (Taiwan)
  • Apple Inc. (US)
  • Quantum Corp. (US)
  • Mushkin Enhanced (US)
  • SK Hynix Inc. (South Korea)
  • Intel Corporation (US)
  • Micron Technology Inc. (US).

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Industry News
In January 2019, Toshiba Electronic Devices & Storage Corporation announced the MG08 Series, the industry's largest capacity 16TB Conventional Magnetic Recording (CMR) HDD. With 33% more capacity than today's commonly used 12TB drives and 14% more capacity than the previous 14TB models, the MG08 16TB drives are compatible with the broadest range of applications and operating systems and accustomed to mixed random and sequential read and write workloads in cloud and traditional data center environments.

In April 2019, Sony launched two new external SSD drives, the high-performance SL-M series, and the standard compact SL-C series. High-speed SL-M and SL-C allow faster workflow when processing, editing, duplicating and storing data.

In May 2019, Transcend Information Inc., the largest manufacturer of storage and multimedia products, announced the release of StoreJet 25M3C, the latest USB Type-C portable hard drive, to join Transcend's expanding family of USB Type-C portable storage devices.

In August 2019, Seagate released its Game Drive for Xbox Gears 5 Special Edition, the latest addition to Seagate's famous line of storage for gamers in partnership with Microsoft and The Coalition.

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