Global Hard Disk Drive (HDD)Market 2024-2031

Global Hard Disk Drive (HDD)Market 2024-2031

Global Hard Disk Drive (HDD) Market Size, Share & Trends Analysis Report by Form Factor(2.5-inch HDD, 3.5-inch HDD, and Others), and by Application(Desktop and Laptop, Consumer Electronics, and Others (Enterprise)), Forecast Period (2024-2031)

The global Hard Disk Drive (HDD) market is anticipated to grow at a CAGR of 5.4% during the forecast period (2024-2031). A hard disk drive (HDD) is a data storage device that uses magnetic disks to store and retrieve digital data. HDDs are also known as hard drives or fixed disks.The rise in the shift of storage requirements is one of the primary drivers for the increase in market growth. The demand for modern applications, like real-time analytics, online gaming, and AI, calls for lightning-fast data access. This preference for speed pushes cloud providers towards SSDs, which claim significantly lower response times than traditional HDDs. Consequently, they offer dedicated SSD storage options for performance-hungry workloads. However, the landscape is not so black and white. Companies often juggle multiple cloud providers or a mix of cloud and on-premises infrastructure, resulting in intricate storage needs. Here, both HDDs and SSDs find their footing, their roles dictated by the interplay of cost, performance, and how frequently data is accessed. In essence, the cloud storage game is one of balancing speed, budget, and complexity.

Segmental Outlook

The global hard disk drive (HDD) market is segmented by Form Factor and Application. Based on the Form Factor, the market is sub-segmented into 2.5-inch HDD, 3.5-inch HDD, and others. Based on the application, the market is sub-segmented into desktop and laptop, consumer electronics, and others.

The Desktop and Laptop Sub-Segment is Anticipated to Hold a Considerable Share of the Global Hard Disk Drive (HDD) Market

Among the Application, the desktop and laptop sub-segment is expected to hold a considerable share of the global Hard Disk Drive (HDD) market. The desktop and laptop sub-segment is considered to hold a prominent share of the market. Any desktop or laptop consists of many specifications, out of which for storage purposes it contains solid state drives (SSD) and HDD, out of which the HDD is one of the mainly used segment as because it offers large amount of storage other than SSD and also is cost efficient than the SSD.

Regional Outlook

The global hard disk drive (HDD) market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe. This can be due to various factors such as the high number of sales. As the region is rapidly growing in its IT sector and as the IT sector increases the demand for storage devices also increases. HDDs are one of the main sector in the storage category and the demand for HDDs are in both forms be it static or portable HDD. 

The North American Region is Expected to Grow at a Significant CAGR in the Global Hard Disk Drive (HDD)Market

Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. The continued market growth of hard disk drives (HDDs) in this region is because of various several drivers. Data centers here often uses both HDDs and solid-state drives (SSDs), with HDDs serving primarily for archival and less demanding tasks. Additionally, high-end consumer electronics like DVRs and high-resolution TVs might still favor HDDs due to their affordability and spacious storage capacity. Established vendor relationships between data centers and technology companies, along with existing infrastructure, also contribute to ongoing HDD purchases. However, SSDs are constantly improving in performance and dropping in price, making them increasingly attractive replacements for HDDs in newer applications like desktops, laptops, and even some enterprise workloads. In cost-sensitive segments like budget laptops, fierce competition and tight margins squeeze opportunities for large HDD growth. 

Market Players Outlook

The major companies serving the Hard Disk Drive (HDD) market include Hewlett Packard Enterprise Co., Micron Technology, Inc., Seagate Technology LLC, Toshiba Corp., Western Digital Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2023, Toshiba Electronic Devices & Storage Corporation (Toshiba） announced the release of its MG10F Series 22TB[1] HDD, a conventional magnetic recording (CMR) HDD that controls Toshiba’s 10-disk helium-sealed design. The MG10F Series HDD features 7,200rpm performance, a 550TB per year workload rating[2], and a choice of SAS and SATA interfaces—all in a power-efficient helium-sealed, industry-standard 3.5-inch[3] form factor.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global Hard Disk Drive (HDD) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.