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.

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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 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.

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 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.

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.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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