Global External Hard Drive
Market Report
2024
The global External Hard Drive market was valued at USD 33.48 billion in 2022 and is projected to reach USD 80.63 billion by 2030, registering a CAGR of 11.6% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global External Hard Drive market was valued at USD 33.48 billion in 2022 and is projected to reach USD 80.63 billion by 2030, registering a CAGR of 11.6% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global External Hard Drive Market Sales Revenue 2022 | $ 33.48 Billion |
Global External Hard Drive Market Sales Revenue 2030 | $ 80.63 Billion |
Global External Hard Drive Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.6% |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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External Hard Drive Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
An external hard drive is a device that can be connected to the computer to expand its storage capacity. It is attached to the outside of the computer and connects to it via USB. Users can copy files onto it just like it would with any other folder. Similar to flash drives, users can plug the external hard drive into any computer and transfer files between them. These drives are perfect for backing up computers and transferring data between different devices. Unlike the hard drive installed in a computer, an external hard drive is portable and can be used to store files from multiple devices. They are easy to use, convenient, and a very safe way to backup important files. Most external hard drives have a minimum capacity of one terabyte (1TB), which is equivalent to 1000 gigabytes (GB) or 1,000,000 megabytes (MB). People can use an external hard drive to store documents, different types of media, software, and applications. Many external hard drives also come with applications to help manage data better.
Growing adoption of smart devices
Over the last few years, there has been a rapid increase in smart device adoption and internet penetration. Smart devices offer flexibility to patients on a smartphone or tablet. With a mobile device, users are simply able to access several contents. According to a study, the number of unique mobile internet users in 2020 was 4.28 billion, and more than 90% of the worldwide internet population has access to the internet via a mobile device. This rapid expansion benefitted the external hard drives market.
Rising usage of cloud storage
Many users have started using cloud storage services like Google Drive, Dropbox, iCloud, and others. The advantage that cloud storage has is convenience which means users can access the files from any computer without special hardware. This hampers the growth of the external hard drive market.
Hard drive interface development
Hard drive interface development in recent years has been driven not just by the demand for faster and bigger data transfers, but also by the requirement for more efficient and secure data storage. In the future, some of the trends that may shape the hard drive interface landscape include Optane memory, a hybrid technology that combines the speed of SSDs with the capacity of HDDs; RRAM, a non-volatile memory that uses resistive switching; heat-assisted magnetic recording, a technique that uses a laser to heat up a small area of the magnetic disk before writing data; shingled magnetic recording, which writes data in overlapping tracks on the magnetic disk; and helium. These improvements outperform traditional approaches in terms of density, latency, power consumption, endurance, friction, noise, heat, and power consumption. As a result, the demand for external hard drives will rise.
The COVID-19 epidemic has quickly spread over the world. People are being forced to stay at home in order to prevent the virus from spreading. The growing number of individuals staying at home has boosted Internet usage, which is increasing demand for online video/audio streaming, downloading, and video conferencing on apps like Zoom. The increased Internet traffic during the shutdown has resulted in massive volumes of data that must be managed by data center facilities all across the world. Data centers handle massive volumes of data, which promotes the use of hard disks and, as a result, market growth. However, the lockdown has closed manufacturing facilities across the globe which hinders the sales of the external hard drive market. According to the Seagate report, the business supplied 120.2 Exabytes of hard disk drive (HDD) storage capacity in CQ1 2020, with an average HDD size of 4.1 TB (or 29.3 M HDDs). This is a 9.3% decrease from the CQ4 2019 quarter. At the same time, its HDD average sales prices (ASPs) grew to $86.21 (a 12.5% rise over Seagate's ASP in CQ4 2019). While total delivered HDDs decreased, overall HDD revenue climbed by around 1.8% quarter over quarter (due to increasing sales of larger capacity and higher cost per unit HDDs).
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Seagate has announced three new external hard disk drives (HDD) with designs inspired by Marvel Studios' Black Panther storylines and characters. The officially approved HHDs will be available later this month, joining the company's range of limited edition storage devices. These limited edition HDDs pay respect to T'Challa (aka Black Panther), Shuri, and Okoye by delivering one-of-a-kind pieces of Marvel artwork to fans and emphasize character qualities with adjustable RGB LED illumination.1: magenta to honor Black Panther, cyan to honor Princess Shuri's inventive flair, and yellow to honor Okoye's superior strength. The FireCuda external HDDs, which have capacities of up to 2 TB, are compatible with PC, Mac, PlayStation, and Xbox, allowing tech fans to record and access a variety of movies, data, and games independent of operating system2. The lightweight drives are USB bus-powered and engineered with a USB 3.2 Gen1 connection for worldwide compatibility and rapid transfer speeds, making it easy for Black Panther fans to take their whole collection on the go. Seagate also launches the King of Wakanda Special Edition FireCuda External HDD, which is exclusive to Walmart USA and the Asia-Pacific area. This drive has the same functions as stated above, but it also has a distinctive design of T'Challa gazing triumphantly over his realm, as well as magenta RGB LED lights that drive users may customize.
Top Companies Market Share in External Hard Drive Industry: (In no particular order of Rank)
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North America dominates the external hard drive market. North America is one of the global leaders in high-speed internet infrastructure. With the powerful resource of a network that provides internet access, management, commercial activities, and communication improved internet infrastructure aids in the growth of the PC sector in this region by allowing people to do several tasks quickly and concurrently. Thus, in the second quarter of 2023, 18.15 million PCs were shipped in the United States, an increase from 14.55 million in the first quarter of 2023. On an annual basis, approximately 42.5 million laptops are sold in the United States. In 2021, 138 million laptops were imported to the US, making it the largest importer of laptops worldwide. The US holds the highest market share of laptops in terms of global imports, accounting for 27% of the global supply, which is valued at $59.8 billion.
The current report Scope analyzes External Hard Drive Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global External Hard Drive Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing External Hard Drive Industry growth. External Hard Drive market has been segmented with the help of its Type, Application , and others. External Hard Drive market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
A hard drive, often known as a hard disk drive (HDD), is a type of data storage device found in laptops and desktop computers. An HDD is a "non-volatile" storage drive, which implies it can preserve data even after the device is turned off. Operating systems (OS) instruct hard drives (HDDs) to read and write data as needed by applications. The drive's ability to read and write data is entirely dependent on the drive itself. HDDs began as gigantic, room-filling devices with capacities of around 3.75 megabytes. In comparison, an HDD that fits neatly in a desktop computer may now hold up to 18 terabytes of storage.
Solid state drives (SSDs), a key component of computers, offer read, write, and startup speeds on current machines that traditional hard drives cannot match. A solid-state drive is a piece of computer hardware that stores data without the need for moving components. External SSDs are connected similarly to external HDDs — often to USB 3.0 ports — and fulfill comparable functions. An SSD is a type of memory storage device that uses integrated circuits instead of mechanical components for storing. When functioning, the integrated circuits shrink their overall size and make them quiet. A MacBook, for example, uses an SSD for a hard drive, which gives the Mac a small profile
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Based on application, the laptop segment dominates the market due to the rising usage of laptops. Laptops have evolved into versatile, powerful devices that cater to various needs, from professional work to gaming and entertainment. Modern laptops offer improved performance, power efficiency, and portability, making them ideal for remote work and study.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the External Hard Drive market report 2024 Edition by contacting our team.
Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global External Hard Drive Market is witnessing significant growth in the near future.
In 2023, the HDD segment accounted for noticeable share of global External Hard Drive Market and is projected to experience significant growth in the near future.
The Laptop segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies LaCie, Transcend Information and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | HDD, SSD |
Application | Laptop, Desktop PC, Others |
List of Competitors | LaCie, Toshiba, Transcend Information, Buffalo Americas, Western Digital, Seagate, ADATA Technology, Verbatim(CMC Magnetics), Lenovo, Eaget, Silicon Power, Apricorn, Dell |
This chapter will help you gain GLOBAL Market Analysis of External Hard Drive. Further deep in this chapter, you will be able to review Global External Hard Drive Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America External Hard Drive Market Trends North America External Hard Drive Technological Road Map North America External Hard Drive Market Drivers North America External Hard Drive Market Restraints North America External Hard Drive Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global External Hard Drive market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why HDD have a significant impact on External Hard Drive market? |
What are the key factors affecting the HDD and SSD of External Hard Drive Market? |
What is the CAGR/Growth Rate of Laptop during the forecast period? |
By type, which segment accounted for largest share of the global External Hard Drive Market? |
Which region is expected to dominate the global External Hard Drive Market within the forecast period? |
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