Press release
Global External Disk System Market Projected to Surpass $70.87 Billion by 2029 with 8.5% Annual Growth
External Disk System Market Report
The external disk system market has grown strongly in recent years. It will grow from $47.43 billion in 2024 to $51.15 billion in 2025, reflecting a CAGR of 7.8%. The growth is driven by data explosion, business continuity planning, remote work trends, security concerns, and consumer electronics trends.
The external disk system market is projected to grow steadily, reaching $70.87 billion by 2029 with a CAGR of 8.5%. Growth factors include edge computing expansion, AI and big data analytics, hybrid and multi-cloud strategies, remote collaboration tools, and IoT growth. Key trends include cloud integration, rapid SSD adoption, increasing storage capacity, and the integration of Thunderbolt and USB-C connectivity.
What Is Contributing to the Growth of the External Disk System Market?
The growing need for data storage solutions is anticipated to accelerate the growth of the external disk system market in the future. Data storage solutions encompass technologies and strategies for storing and managing digital information for easy access and long-term retention. External disk systems are crucial in these solutions, offering scalable, portable, and secure storage options for both businesses and individuals dealing with increasing data volumes. For example, in December 2022, a report from The Linux Foundation, a US-based nonprofit, highlighted a significant increase in data storage needs. An organization with up to 20 petabytes of storage experienced an annual growth of 566 terabytes in 2021 and 1,746 terabytes in 2022. For organizations with a 25-petabyte capacity, data growth surged to 700 terabytes in 2021, rising to 2,208 terabytes in 2022. This growing demand for data storage is propelling the external disk system market forward.
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Which Key Market Leaders Are Driving External Disk System Industry Growth?
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 Are the Emerging Trends in the External Disk System Industry?
Key players in the external disk system market are concentrating on introducing innovative products like portable SSDs (Solid State Drives) to maximize market profits. A portable SSD is a compact, external storage device that uses flash memory to store data and facilitate file transfers between computers. For instance, in March 2023, Samsung Electronics Co. Ltd., a South Korean producer of external storage devices, introduced the PSSD T7 Shield, a powerful 4 TB portable SSD. This external drive operates with USB 3.2 Gen2 and offers read/write speeds of up to 1,050/1,000 MB/s, featuring built-in PCI NVMe technology. The PSSD T7 Shield enhances workflows by minimizing waiting time and is up to 9.5 times faster than traditional external HDDs. Its shock-resistant aluminum body, coated with rubber, can withstand drops of up to three meters.
What Are the Main Segments in the External Disk System Market?
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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Which Geographic Area Leads 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
What Is Covered In The External Disk System Global Market Report?
- Market Size Analysis: Analyze the External Disk System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the External Disk System Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall External Disk System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the External Disk System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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