Hard Disk Drive Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Information & Communications Technology

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Preliminary research of Fairfield Market Research indicates a promising growth outlook for global hard disk drive market during the course of next few years.

Critically Growing Need for Reliable Content Storage Space Bolsters Hard Disk Drive Market

Global hard disk drive market is anticipated to be driven by increasing Internet usage, expanding online commerce, digitalization of daily activities, and rising media data transfer volumes. Approximately 5.07 billion users, or 63.5 percent of the world's population, are active online anytime. The popularity of smartphones and tablets, which have enabled users to produce significant amounts of digital data and material, is likely to increase the storage capacity of the typical home over the coming years. Large amounts of digital data and material have also been produced due to increasing image and video resolution. As a result, there is an increasing need for content storage space. With the factors including the advantages of hard disk drives (HDDs), their high reliability and performance efficiency, and the growing use of HDDs in data centers, the market is anticipated to grow over the forecast period.

Regional laws like the Restriction of Hazardous Substances (RoHS), and Waste Electrical and Electronic Equipment (WEEE) legislation in the European Union, as well as international standards like ISO/IEC 27001:2013 and ISO/IEC 27002:2013, keep an eye on and regulate data security. HDDs producers also pay attention to recycling-related environmental requirements. The Data Protection Act in the UK ensures that only interested parties or organizations have access to personal data. The amount of data is estimated to triple in the next years, resulting in a significant increase in demand for internet protocol traffic in public data centers. In addition to the 487 data centers in Germany, there were 2,701 data centers in the United States as of January 2022. This aspect is projected to increase the need for data storage, likely promoting market growth for hard disk drives globally between 2020 and 2030. Another important element boosting the demand for HDDs is the rising investment in data centers. Despite the popularity of Solid State Drives (SSDs) in recent years, HDDs continue to demonstrate their superiority in global hard disk drive market, for their large-scale, high-capacity storage installations.

Hard Disk Drive Market: COVID-19 Impact

Numerous industries have been disrupted by COVID-19, which has caused travel restrictions, a global lockdown, and a delay in many companies' supply chains. The unusual ongoing occurrence has also had a significant impact on the semiconductor industry, which has seen a severe fall in revenues due to the ambiguous positioning of digital devices. Despite the increasing unpredictability, semiconductor producers, particularly those that make hard drives, attempt to carry on with business as usual and focus on their long-term plans. With steady commercial stability, many semiconductor manufacturers work with their stakeholders and partners in certain markets. For instance, semiconductor makers always work to improve their research, designs, and manufacturing techniques while concentrating on the health and safety of their workers. This remains a major influencer for hard disk drive market.

Rising Reliance on Data Center Applications to Fuel Hard Disk Drive Market

While utilizing less power, a hard disk drive can outperform several spinning disks. Consequently, it was possible to reduce the overall physical footprint of a storage rack and combine servers. However, compared to consumer PCs, data centers utilize a distinct set of measures to gauge the performance of HDDs. Hundreds of hard disk drives (HDDs) may be used in a typical data center, which predominantly sustain the progress of hgard disk drive market. Computer drives could become ruined if the power goes out, necessitating a large downtime because the drives need to be reformatted. Reinstalling the operating systems would be necessary. Data loss could also negatively impact the way an organization operates and interacts with its clients. Last but not least, it would be necessary to repair damaged drives, raising the operation cost. It is thus impossible to overestimate the significance of power loss protection (PLP) devices.

Cost-effectiveness, and New Architectural Designs to Support Hard Disk Drive Market Growth

Hard disk drives corporate storage is expected to get cheaper in the upcoming years, which points to a massive long-term growth opportunity for the hard disk drive market. The vertical cell structure that exists right now could be improved with numerous layers at a reasonable cost. System bottlenecks are expected to be eliminated through the advent of new device categories and architectures, including computational storage in Ethernet HDDs. To enhance applications' functionality and the infrastructure's effectiveness, computational storage could, for instance, minimize data transit and offload post-processing. Additionally, these are utilized in various applications, such as CDNs, all-flash arrays, the cloud, and other tiered systems. Data growth will be fueled by trends like cloud, AI, 5G, and IoT in various end-market applications, including traditional IT, the edge, and endpoints, as well as public and private cloud environments.

Complexity of Design to Hamper Pace of Hard Disk Drive Market

People are becoming increasingly familiar with hard disk drives, but this increased demand raises the bar for a wide range of capabilities and functionalities. Manufacturers in the hard disk drive storage sector are up against a hurdle in terms of design considerations to live up to expectations. Security is turning into a serious worry as HDDs adoption rises. Software-based encryption is more susceptible to crashes. Hardware-based encryption is thus superior. Additionally, the performance may be hampered by the poor design of hardware-based encryption. To improve the architecture, advanced HDD controllers work with several encryption standards, including ATA, TCG's Opal/Enterprise, and IEEE 1667. So solving HDDs design issues is a challenge facing the hard disk drive market.

Network-attached Storage (NAS) to Dominate Hard Disk Drive Market due to its Interconnectivity Property

Multiple users and a variety of clients can store and retrieve data from a central location in a business using network-attached storage (NAS) HDDs. Additionally, it offers the infrastructure to assist with tasks like data archival and backup and to consolidate storage in one location. The demand for network-attached storage HDDs is being driven by many businesses' increasing usage of network-attached storage (NAS) HDDs to create simple distributed work environments using wireless routers. Vendors in the global hard disk drive market are being compelled to provide specialized NAS solutions for companies looking to use NAS as a full-fledged data management solution due to the growing popularity of NAS systems in enterprise environments. In the future, it's anticipated that on-premise NAS and cloud storage integration will become more popular, making it easier to have entire control over the data in the NAS and to back up and archive data in the cloud.

With Increased Demand for High-speed Transmission, USB 3.0 to Dominate Hard Disk Drive Market

The hard disk drive market will be dominated by demand for the USB 3.0 HDD sector by a drive interface. The need for improved and fast interfaces among consumers is driving the growth of the global USB 3.0 market. The market is also expected to develop due to the widespread use of smartphones and tablet PCs, as well as the growing use of USB 3.0 universal docking chipsets in 4K monitors and camera-based medical imaging applications. 5Gbps transfer speed is offered by USB 3.0, which is approximately 10 times faster than USB 2.0 in theory. Compared to USB 2.0's 500mA nominal current, USB 3.0 offers 900mA. Additionally, USB 3.1 Gen2 capabilities include 10 Gbps data transfer rates, huge capacity storage of 12TB (6TB per drive), and others.

Asia Pacific’s Hard Disk Drive Market Gains Significantly from Well-developed IT Sector

Over the past few decades, the Asia Pacific area has experienced impressive economic expansion. The rise of nations like China, South Korea, Taiwan, and India has drastically altered the global hard disk drive market landscape in various industries. The demand for storage solutions across several sectors, including consumer, enterprise, and industrial, is anticipated to climb further over the projected period as the area sees rapid growth in digital technologies. India, for example, has claimed impressive IT growth. By 2025, the market for IT and business services in India is anticipated to reach US$19.93 Bn, according to the India Brand Equity Foundation (IBEF). The IT sector uses a variety of devices, including tablets, laptops, and desktops, as well as storage devices, such as HDDs, to store enterprise data. Therefore it is anticipated that the industry's expansion will also drive the market under study. During the forecast period, these trends are anticipated to assist the expansion of market.

In terms of revenue, North America dominated the worldwide hard disk drive market in 2020, and it is anticipated that it will continue to do so during the projected period. This is explained by the existence of major firms that supply cutting-edge HDDs to numerous regional industries. The primary reason responsible for the market growth is the increased investments in the creation of IT infrastructure in North America. Additionally, the region is noted for having a higher penetration of cloud computing services. The HDDs market will expand at a healthy clip during the projected period due to the widespread use of 5G technology in North America. Since HDD manufacturers invest more money in new hard disk storage capacity formats every two to three years, the market is expanding faster in the United States. Consequently, it is anticipated that rising investment in hard disk drive technologies will fuel demand for the U.S. market.

Global Hard Disk Drive Market: Competitive Landscape

In July 2022, Western Digital said that it had begun distributing its new 22TB hard drives (HDDs) that were made to cater to three important markets: WD Red Pro for network attached storage, WD Purple Pro for smart video/surveillance, and WD Gold HDDs for IT/data center channel clients (NAS). To achieve the density of 2.2TB per platter, these drives use OptiNAND technology, energy-assisted PMR (ePMR), triple-stage actuator (TSA), and HelioSeal. In March 2022, Seagate introduced the SkyHawk AI 20 TB Hard Disk Drive (HDD). This product is aimed at network video recorders with AI intelligence. The new solutions expand the size of the user's AI environment, with up to 64 HD video streams and 32 AI streams supported.

A few of the players in the hard disk drive market include Western Digital Corporation, Seagate Technology LLC, Toshiba Corporation, Transcend, ADATA Technology Co., Ltd., Hewlett Packard Enterprise Development LP, and Buffalo Americas, Inc.

Regional Classification of Global Hard Disk Drive Market Can be Given as Below:

North America

  • U.S.
  • Canada


  • Germany
  • France
  • Spain
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East and Africa

  • GCC
  • South Africa
  • Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Hard Disk Drive Market

  • Hard Disk Drive Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2019 - 2022
  • Market Value at Regional and Country Level, 2023 - 2030
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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