Hard disk drives (HDD), sometimes also called just hard drives, are a non-volatile memory hardware device typically used as the main storage drive in computers. The use of HDDs has sheerly proliferated, particularly riding on wave of the ubiquity of computing devices in both commercial and enterprise markets. A panoply of computing devices, notably computers, mobile devices, and consumer electronics has HDD in them for storing OS and system files and other software programs. The hard disk drives (HDD) market has witnessed a few game-changing technological advancements. Case in point is the advent of shingled magnetic recording (SMR) technology in 2013. Another notable technology development that shaped the evolution of the HDD market is helium-filled hard disk drives in 2012.
However, over the years, manufacturers in the HDD market have been facing some stiff competition from the advent of new technological advancements in storage devices. The growing complexity of operations that need to be performed in computers has spurred the growth of the industry toward solid-state drives (SSDs). They have low latency and do not suffer with low read performance, unlike in HDD where access time varies depending on where the data is stored. Nonetheless, the high cost of SSD is a major deterrent toward complete replacement of HDD with SSD.
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Global Hard Disk Drive Market: Overview
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 2020 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.
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 2020, 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.
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 2020 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 2020 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.
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