Hard Disk Drive Market Aims to Expand at Double-Digit Growth Rate Covid-19 Analysis

The global hard disk drive market is likely to observe growth during the timeframe of analysis, thanks to the rising demand for cloud computing. A hard disk refers to the main data storage hardware device that is capable of storing huge amount of data. Software titles, the operating system, and many other files are all stored in the hard disk drive. Many a times, these drives are also known as the “C” drive as Microsoft Windows, most of the times, assigns the letter “C” to the very primary partition of the hard disk drive in a system.

It is expected that internet protocol traffic in public data centers will witness a huge rise in demand, the volume is of data is anticipated to triple in the years to come. This factor is likely to raise the demand for data storage, which is likely to foster growth of the global hard disk drive market over the timeframe of analysis, from 2024 to 2030.

The global hard disk drive market has been segmented on the basis of six important parameters, which are storage capacity, drive, power source, drive interface, and region.

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Global Hard Disk Drive Market: Notable Developments

One of the recent developments in the global hard disk drive market that is likely to leave an impact on the market is mentioned-belo

  • In October 2024, a prominent American data storage company, Seagate Technology plc, made an announcement that the company will start shipping in volume its 18TB SkyHawk Artificial Intelligence (AI) drives. This drive is the very first of its kind purpose-built hard drive for artificial intelligence (AI)-enabled surveillance solutions, which allows smarter and quicker decisions.  This new SkyHawk AI drive encourages machine learning and deep learning workload streams for ImagePerfectAI with Edge applications.

Some of the prominent organizations in the global hard disk drive market comprise the below-mentioned:

  • Seagate Technology plc.
  • Western Digital Corporation
  • Toshiba Corporation
  • Hewlett Packard Company
  • Buffalo Americas Inc
  • Transcend Information Inc

Global Hard Disk Drive Market: Key Trends

The global hard disk drive market is characterized by the presence of the following restraints, drivers, and opportunities.

Market to Ride High on the Back of Increased Adoption of Cloud Storage Technology

There has been an augmented adoption in various enterprise applications and cloud storage, which is likely to pave way for the growth of the global hard disk drive market over the timeframe of analysis, from 2024 to 2030. In addition, steady business of laptop systems is also expected emerge as an important factor augmenting the shipment and sale of hard disk drives in the years to come.

These drives help in booting the computer system and it also assists in storing personal and applications apps. Hard disk drives are comparatively low in cost and are useful in storing a huge amount of business files, videos, and photos. Increased demand for high-capacity and economically priced drives by several enterprises is likely to widen the scope of growth of the global hard disk drive market over the timeframe of analysis, from 2024 to 2030.

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Global Hard Disk Drive Market: Geographical Analysis

In the global hard disk drive market, North America is anticipated to account for a sizeable chunk of the market. The region is expected to continue with its dominance throughout the tenure of assessment. Presence of many data storage companies, such as Seagate Technology plc, Hewlett Packard Company is likely to work in favor of the North America market. Besides, fast adoption of latest technologies is likely to act as another growth factor for the hard disk drive market in North America.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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