The External Disk System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s External Disk System Global Market Report 2024, The external disk system market size has grown strongly in recent years. It will grow from $43.94 billion in 2023 to $47.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to data explosion, business continuity planning, remote work trends, security concerns, consumer electronics trends.
The external disk system market size is expected to see strong growth in the next few years. It will grow to $64.71 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to edge computing growth, ai and big data analytics, hybrid and multi-cloud strategies, remote collaboration tools, iot expansion. Major trends in the forecast period include cloud integration, technological advancements, rapid adoption of ssd technology, growing emphasis on storage capacity, integration of thunderbolt and usb-c connectivity.
The increasing demand for data storage solutions is expected to propel the growth of the external disk system market going forward. Data storage solutions refer to technologies and methods for storing and managing digital information for easy retrieval and long-term preservation. External disk systems are essential in data storage solutions, offering scalable, portable, and secure storage options for businesses and individuals managing growing data volumes. For instance, in December 2022, according to a report published by The Linux Foundation, a US-based non-profit consortium, the rise in data storage for an upper limit of 20 petabytes shows an annual data growth of 566 terabytes for an average end-user organization in 2021 and 1,746 terabytes in 2022. Whereas for an upper limit of 25 petabytes, the increase in annual data growth is 700 terabytes in 2021 and 2,208 terabytes in 2022 for an average end-user organization. Therefore, the increasing demand for data storage solutions is driving the external disk system market.
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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
Major companies operating in the external disk system market are increasing their focus on introducing innovative products and solutions, such as portable SSD (Solid State Drive), to maximize profits in the market. A portable SSD, or solid-state drive, is a small, external storage device that uses flash memory to store data and back up or transfer files between computers. For instance, in March 2023, Samsung Electronics Co. Ltd., a South Korea-based manufacturer of external storage devices, launched the PSSD T7 Shield, its powerful and massive 4 TB T7 Shield Portable SSD (Solid State Drive). This external storage device is powered by USB 3.2 Gen2 and features read/write rates of up to 1,050/1,000 MB/s and built-in PCI NVMe technology. PSSD T7 Shield offers users an expedited, interruption-free workflow by significantly reducing waiting time. Additionally, compared to external hard disk drives (HDDs), this newest SSD is up to 9.5 times faster. The sturdy aluminum body of the PSSD T7 Shield, coated in rubber, makes it shock-resistant against drops of up to three meters.
The external disk system market report table of contents includes:
- Executive Summary
- External Disk System Market Characteristics
- External Disk System Market Trends And Strategies
- External Disk System Market – Macro Economic Scenario
- Global External Disk System Market Size and Growth
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- Global External Disk System Market Competitive Benchmarking
- Global External Disk System Market Competitive Dashboard
- Key Mergers And Acquisitions In External Disk System Market
- External Disk System Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Samsung Electronics Co. Ltd.
- Dell Inc.
- Lenovo Group Ltd.
- SK Hynix Inc.
- Fujitsu Limited
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