The Increasing Need for Data Storage Space will likely to Drive the Growth of Hard Disk Market during the Forecast Period (2018–2026): MRFR
Hard Disk MarketHard Disk Market Overview
The global hard disk market is expected to reach 93.88 billion by 2026, growing at a CAGR of 6.5% during the forecast period (2018–2026). In this report, Market Research Future (MRFR) includes market segmentation and market dynamics to offer a better glimpse of the market in the coming years.
Data generation continues to surge, globally which in turn is increasing the demand for electronic data storage. This trend is therefore expected to increase the demand for hard disks. The increasing proliferation of digital commerce and internet-ready devices like smartphones, various consumer electronics, home appliances, and alarm monitoring systems, among others, have generated huge data over the cloud. Also, MRFR believes that the need for data storage will continue to increase in coming years as well largely from enterprises/corporate, enterprise data center as well as cloud service providers. 
According to World Economic Forum, at present each day around 500 million tweets and 294 billion emails are sent; 4 petabytes of data are created on Facebook; 4 terabytes of data are created from each connected car, and 65 billion messages are sent on WhatsApp. By 2025, it is estimated that 463 exabytes of data will be created each day globally. With such significant year on year growth in data worldwide, the need for data storage space will increase which will, therefore, increase the overall demand for such storage devices. In this regard, increased need for the storage leads to the growth of global hard disk market during the forecast period.
Segmental Analysis
Based on type, the hard disk market has been segmented into hard disk drive (HDD), solid-state drives (SDD), and Hybrid Disk Drives (HHD). The HDD segment accounted for the largest market share in 2018, with a market value of USD 44.93 billion; it is expected to register the CAGR of 2.3% during the forecast period.
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Hard Disk MarketAs the hard drives are used for storing large volumes of data, with typical storage capacities ranging from 1 terabyte to 6 terabytes on a single drive.The SSD segment was the second-largest market in 2018, valued at USD 9.31 billion; it is projected to exhibit a CAGR of 17.0%. Solid-state drives are generally more resistant to physical shock and damage due to lack of moving parts. They also have silent operations, quicker input/output operations per second (IOPS) than HDDs and much lower latency. These are some of the factors responsible for the growth of the SSD market during the forecast period.
Based on application, the hard disk market has been categorized into notebook, desktop, and server. The notebook segment accounted for the largest market share in 2018, with a market value of USD 22.18 billion; it is expected to register the CAGR of 6.1% during the forecast period. Notebooks today opt for a combination of a hard disk drive and solid-state drives. This is one of the factors that drive the growth of the market. The server segment was valued at USD 16.34 billion; it is projected to exhibit the highest CAGR of 9.3%. With the growth of streaming services and cloud technologies are some of the factors responsible for the growth of the market during the forecast period.
Competitive Analysis
The prominent players operating in the hard disk market are Sony Corporation (Japan), Transcend Information. Inc. (Japan), Samsung Electronics (South Korea), ADATA Technology Co. Ltd. (Taiwan), Hewlett Packard Enterprise Company (HP) (US), Apple Inc. (US), Quantum Corp. (US), SK Hynix Inc. (South Korea), Intel Corporation (US), Mushkin Enhanced (US), and Micron Technology Inc. (US), Western Digital Corporation (US), Seagate Technology LLC (US), and Toshiba Corporation (US).
Regional Analysis
Regionally, the hard disk market has been divided into the US, China, Europe, SoutheastAsia, India, Japan, the Middle East & Africa, and Central and South America. The US led the hard disk market from 2014 to 2016, whereas China is expected to lead the hard disk market from 2017 to 2026. Japan is expected to be the fastest-growing country-level market in the hard disk market during the forecast period, registering a CAGR of 7.6%, followed by India.
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