What Fueled The Previous Growth In The External Disk System Market?
The external disk system market has seen considerable growth due to a variety of factors.
• The market size for external disk systems has seen significant expansion over the past few years. The market is projected to increase from $47.43 billion in 2024 to $51.15 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 7.8%.
Factors such as the surge in data creation, planning for business continuity, the shift towards remote work, security issues, and trends in consumer electronics have contributed to the growth during the historical period.
What Can Be Expected from the External Disk System Market Size?
The external disk system market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions indicate a robust expansion of the external disk system market in the upcoming years, reaching a market size of $70.87 billion in 2029 with an 8.5% compound annual growth rate (CAGR). This promising growth prognosis is based on crucial factors such as the evolution of edge computing, AI and big data analytics ramp up, hybrid and multi-cloud strategies, increasing use of remote collaboration tools, and IoT expansion. Key upcoming trends include the integration of cloud, technological innovation, the fast-paced adoption of SSD technology, an escalating focus on storage capacity, along with the incorporation of thunderbolt and USB-c connectivity.
What Are the Critical Driver Fuelling The External Disk System Market's Growth?
The escalating need for data storage solutions is predicted to boost the expansion of the external disk system market. These solutions include technologies and methodologies to store and manage digital data, ensuring easy accessibility and preservation over the long term. External disk systems play a crucial role by providing scalable, mobile, and secure storage alternatives for both businesses and individuals dealing with increasing data volumes. For instance, a report by The Linux Foundation, a non-profit consortium based in the US, revealed in December 2022 that the surging data storage up to the upper limit of 20 petabytes indicates an annual growth of 566 terabytes for an average end-user organization in 2021, and 1,746 terabytes in 2022. For an upper limit of 25 petabytes, there's an increase in annual data growth of 700 terabytes in 2021 and 2,208 terabytes in 2022 for a typical end-user organization. As a result, the burgeoning demand for data storage solutions is fueling the growth of the external disk system market. The flourishing gaming industry is likewise predicted to propel the external disk system market. Comprising businesses, organizations, and individuals engaged in creating, developing, promoting, distributing, and monetizing video games, as well as relevant gaming products and services, the gaming industry heavily relies on external disk drives. These drives store large game files and increase storage space on PCs or consoles, allowing gamers to conveniently move their games across devices. In July 2023, the Entertainment Software Association, a video game trade association based in the US, reported that consumer spending on video games (including content, hardware, and accessories) reached $7.6 billion, marking a 2% increase from the previous year. Thus, the trend of rising adoption in the gaming industry is expected to spur the growth of the external disk system market.
How Is The External Disk System Market segmented?
The external disk system market covered in this report is segmented –
1) By Type: Network-Attached Storage HDD (Hard Disk Drive), Portable HDD (Hard Disk Drive), Desktop HDD (Hard Disk Drive)
2) By Application: Computers Or Laptops, Mobile, Other Applications
3) By End User: Personal, Commercial
Subsegments:
1) By Network-Attached Storage HDD (Hard Disk Drive): Single-Bay NAS, Multi-Bay NAS
2) By Portable HDD (Hard Disk Drive): Compact Portable HDD, Rugged Portable HDD
3) By Desktop HDD (Hard Disk Drive): Standard Desktop HDD, High-Capacity Desktop HDD
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What New Trends Are Influencing The External Disk System Market?
Top firms in the external disk system market are prioritizing the development and launch of pioneering products such as portable SSDs (Solid State Drives) to boost their market earnings. Portable SSDs are compact, external data storage gadgets that utilize flash memory for data storage and facilitate file backup or transfer between computers. For example, Samsung Electronics Co. Ltd., a company from South Korea specializing in external storage device manufacture, unveiled their PSSD T7 Shield; a high-performance, large-capacity 4 TB T7 Shield Portable SSD in March 2023. This external storage tool, powered by USB 3.2 Gen2, showcases read/write speeds of about 1,050/1,000 MB/s and incorporates PCI NVMe technology. With PSSD T7 Shield, users enjoy a seamless, undisturbed workflow through drastically curtailing waiting times. Furthermore, in comparison to external hard disk drives (HDDs), this recent SSD exhibits a speed that is approximately 9.5 times superior. The robust, rubber-coated aluminium body of the PSSD T7 Shield offers shock resistance up to three-meter drops.
Who Are the Key Players In The External Disk System Market?
Major companies operating in the external disk system market report are:
• Samsung Electronics Co. Ltd.
• Dell Inc.
• Lenovo Group Ltd.
• SK Hynix Inc.
• Fujitsu Limited
• Hewlett Packard Development Company L.P.
• Toshiba Corporation
• Micron Technology Inc.
• Western Digital Corporation
• Seagate Technology LLC
• Kingston Technology Co. Inc.
• NetApp Inc.
• Lite-On Technology Corporation
• Pure Storage Inc.
• ADATA Technology Co. Ltd.
• Transcend Information Inc.
• Quantum Corporation
• QNAP Systems Inc.
• Synology Inc.
• Infortrend Technology Inc.
• Promise Technology Inc.
• Other World Computing Inc.
• SilverStone Technology LLC
• Drobo Inc.
• Micronet Technology Inc.
• Akitio Technology Limited
• Glyph Production Technologies Inc.
• Apricorn Inc.
• Angelbird GmbH
• Buffalo Americas
• ioSafe Inc.
What Is The Most Dominant Region In The External Disk System Market?
North America was the largest region in the external disk system market in 2024. The regions covered in the external disk system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
