Growing number of data volumes are influencing enterprises to adopt advanced data storage technologies, which in turn is expected to influence growth of the hard disc drive (HDD) market over the next decade. In addition, rise in investments by HDD manufacturers to introduce upgraded hard disc storage capacity formats every two to three years will continue to shape future growth trajectory of the market. According to recently published report by Future Market Insights (FMI), the global hard disc drive market revenue is expected to surpass US$ 80 Bn by 2029.
As demand for high data storage capacities continue to be on a significant rise, leading manufacturers are centered on frequently rolling out HDD storage technology upgrades. Subsequently, for the long-term high-capacity data backup and archiving solutions, magnetic storage remains highly preferred among consumers.
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Geographically, Western European HDD market accounts for relatively high revenue share, as the Germany’s market is set to outpace that of U.K. by 2020-end. North America will witness moderate growth rate over the forecast period, wherein the U.S.’s market will continue to showcase the most lucrative growth prospects. Moreover, suppliers and manufacturers are reaping maximum profits by offering their solutions and services to developing countries of Middle East, Northern Africa, and Latin America, amid increasing cyber threats and demand for reduced downtime, says FMI analyst.
Key Takeaways – Hard Disk Drive Market Study
- Network-attached storage (NAS) hard disk drives hold more than 2/5th of the total market value. This trend is expected to continue over the forecast period 2019-2029. Through 2029, sales of NAS HDD will continue to see double-digit growth.
- Hard disk drives of 250 GB and 1TB account for half of the total sales and will continue to witness greater demand as compared to their counterparts. On the other hand, sales of hard disc drives with the storage capacity of above 1TB will be relatively less preferred and continue to gain moderate traction.
- USB port hard disk drives hold more than one-third of the total market share. On the other hand, plug-in power sources of HDD are expected to witness significantly increased demand and outdo sales of USB port HDDs in the next two years.
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Helium HDDs Set to Mark a Promising Trend
The introduction of helium hard disc drive has reduced the demand for air-filled HDDs, as they are expensive and highly unstable and harm the environment. In order to tackle this issue, the market players developed helium HDDs that provide higher sequential data transfer rates due to enhanced areal density. Leading manufacturers such as Western Digital Corp have launched its fourth-generation helium HDDs, providing the customers with data storage solutions, addressing the demanding performance requirement of today’s enterprises and expansive information management, targeting hyperscale data centers. Helium HDDs are considered to be most advanced and cost-effective solutions with exceptional power efficiency.
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