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Hard Disk Drives Market

Hard Disk Drives Market

The market for Hard Disk Drives was estimated at $56.4 billion in 2023; it is anticipated to increase to $71.8 billion by 2030, with projections indicating growth to around $85.2 billion by 2035.

Report ID:DS1101004
Author:Ranjana Pant - Research Analyst
Published Date:December 2024
Datatree
Information Technology
Hardware & Infrastructure
Hard Disk Drives
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Report Summary
Table of Contents
Methodology
Market Data

Global Hard Disk Drives Market Outlook

Revenue, 2023

$56.4B

Forecast, 2033

$79.6B

CAGR, 2023 - 2033

3.5%
The Hard Disk Drives industry revenue is expected to be around $60.4 billion in 2024 and expected to showcase growth with 3.5% CAGR between 2025 and 2034.

Solid state drives face competition from traditional hard disk drives (HDDs) in applications that need extensive storage capacity with HDDs still holding sway in this arena due to advancements in areal density and the increasing need for storing vast amounts of information, in cloud environments and large scale facilities.

Hard Disk Drives market outlook with forecast trends, drivers, opportunities, supply chain, and competition 2023-2033

Market Key Insights

  • The Hard Disk Drives market is projected to grow from $56.4 billion in 2023 to $79.6 billion in 2033. This represents a CAGR of 3.5%, reflecting rising demand across Personal Computing, Surveillance and Enterprise Storage.
  • The market leaders include Seagate and Western Digital and Toshiba which determine the competitive dynamics of this sector.
  • U.S. and China are the top markets within the Hard Disk Drives market and are expected to observe the growth CAGR of 2.4% to 3.2% between 2023 and 2030.
  • Emerging markets including India, Brazil and Vietnam are expected to observe highest growth with CAGR ranging between 3.9% to 4.9%.
  • The Hard Disk Drives market will experience a $3.3 billion increase in growth through 2030 because of the transition toward high-capacity HDDs.
  • The Hard Disk Drives market is set to add $23.2 billion between 2023 and 2033, with manufacturer targeting Enterprise Storage & Surveillance Application projected to gain a larger market share.
  • With Rising data volumes, and Cost efficiency, Hard Disk Drives market to expand 41% between 2023 and 2033.
hard disk drives market size with pie charts of major and emerging country share, CAGR, trends for 2025 and 2032

Opportunities in the Hard Disk Drives

Pairing hard disk drives, with cloud based services offers flexible and mixed storage solutions to meet various requirements.

Growth Opportunities in North America and Asia-Pacific

North America Outlook

North America excels in the hard disk drive market thanks to its data center setup and widespread use of business storage solutions with industry giants such, as Seagate and Western Digital taking the lead in pushing boundaries through innovation.

Asia-Pacific Outlook

Asia Pacific region is experiencing growth due to the expansion of IT infrastructure and digitalization efforts underway in countries such, as China, Japan and India—all playing key roles in driving market expansion.

Market Dynamics and Supply Chain

01

Driver: Rising Data Volumes, and Technological Advancements

The rapid increase in data volume within business and cloud setups requires the use of large scale storage options such, as disk also drives (HDDs). Advancements in storage density and recording techniques allow hard disk also drives to effectively keep up with the growing need, for storage space.
When you look at it in comparison with SSD storage options hard disk also drives come in at a price per terabyte which makes them a great choice, for tasks that need a lot of space.
02

Restraint: Competition from SSDs, and Declining PC Sales

The growing use of SSD drives for their performance and long lasting nature presents a notable obstacle, for the traditional HDD market.
The drop in sales of desktops and laptops impacts the need, for hard disk drives used by consumers.
03

Opportunity: Adoption in Emerging Markets and Applications in Surveillance and Gaming

The rise of digitalization and the growth of IT infrastructure, in developing areas are fuel the increased use of disk drives.
There are chances emerging due to the increasing need for large storage capacities, in surveillance systems and gaming consoles.
04

Challenge: Environmental Concerns

The environmental impact and electronic disposal issues related to disk drives (HDDs) are causing worries, about sustainability and influencing their usage.

Supply Chain Landscape

1
Component Supplier

Seagate

Toshiba

2
System Integrator

Western Digital

Hitachi Vantara

Dell

3
End-User Industry

Consumers

Data Centers

Cloud Providers

Enterprises

*The illustration highlights the key stakeholders within the supply chain ecosystem.

Applications of Hard Disk Drives in Personal Computing, Surveillance & Enterprise Storage

Personal Computing

Hard disk drives (HDDs) are commonly utilized in desktop computers and laptops to provide storage space at a budget friendly price for users needs. Major companies such, as Seagate and Western Digital provide a range of HDD options tailored for this market segment.

Enterprise Storage

Enterprise level data storage heavily relies upon HDDs for their reliability and scalability within data centers. Toshiba and Hitachi Vantara are players, in delivering high quality HDDs tailored for enterprise use.

Surveillance

Surveillance focused hard drives are tailored for video recording and storage of high quality footage with companies such as Seagate and WD excelling in providing optimized drives, for surveillance purposes.

Others

Hard disk drives are commonly utilized in gaming consoles and external storage devices well as backup solutions. They provide applications, for managing large volumes of data.

Recent Developments

October 2024

Seagate introduced a 20TB hard drive tailored for use, in business and cloud settings.

July 2024

Western Digital unveiled a range of hard drives specifically designed for surveillance purposes ideal, for uninterrupted recording tasks.

March 2024

Toshiba unveiled a helium-filled HDD with enhanced energy efficiency targeting data center applications

Notable advancements consist of Seagates capacity hard drives and Western Digitals security solutions along with Toshibas energy efficient HDDs in the market sector recent progress emphasizes creativity and broadening uses, in the HDD industry.

Impact of Industry Transitions on the Hard Disk Drives Market

As a core segment of the Hardware & Infrastructure industry, the Hard Disk Drives market develops in line with broader industry shifts. Over recent years, transitions such as Shift Towards High-Capacity HDDs and Focus on Energy Efficiency have redefined priorities across the Hardware & Infrastructure sector, influencing how the Hard Disk Drives market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.
01

Shift Towards High-Capacity HDDs

Advancements, in recording technology and materials are making it possible to create disk drives (HDDs) with increased storage capacities tailored for business and cloud use. This industry transition is expected to add $3.3 billion in the industry revenue between 2023 and 2030.
02

Focus on Energy Efficiency

The sector is moving towards energy hard disk drives to tackle sustainability issues and cut down on operating expenses.

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