Press release
Global External Disk System Market Projected to Surpass $70.87 Billion by 2029 with 8.5% Annual Growth
External Disk System Market Size
The escalating need for solutions to store data is predicted to boost the external disk system market's growth. These data storage solutions are methods and technologies used to preserve and manage digital information for easy retrieval and long-term storage. External disk systems play a significant role in these solutions, providing expanding, mobile, and secure storage capacities that cater to businesses and individual needs with growing data volumes. For instance, as per The Linux Foundation's report in December 2022, an increase in data storage for a 20 petabyte upper limit has shown a yearly growth of 566 terabytes and 1,746 terabytes, respectively in 2021 and 2022, for an average end-user organization. In contrast, for an upper limit of 25 petabytes, the annual data growth rise was 700 terabytes in 2021 and 2,208 terabytes in 2022. Thus, this growing demand for data storage solutions drives the external disk system market. The external disk system market's growth is projected to be influenced by the burgeoning gaming industry. The gaming sector comprises various individual developers and businesses, organizations specializing in the production, development, marketing, distribution, and financial aspects of gaming products and services. External disk drives, which store extensive gaming files and augment storage capacity on PCs or consoles, enable gamers to easily transition their games across devices. As per the Entertainment Software Association's report in July 2023, spending in the USA on video game content, hardware, and peripherals was $7.6 billion. This figure indicates a 2% increase from the previous year. Therefore, the amplified adoption in the gaming industry is expected to drive the external disk system market's growth.
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How will the growth rate of the external disk system market shape industry trends by 2034?
In recent times, the market size of the external disk system has seen significant growth. It is estimated to increase from $47.43 billion in 2024 to reach $51.15 billion in 2025, with an annual compound growth rate (CAGR) of 7.8%. The past growth in this sector can be attributed to factors such as data explosion, business continuity planning, evolving remote work trends, security considerations, and developing trends in consumer electronics.
It is anticipated that the market for external disk systems will exhibit robust growth in the coming years, expanding to $70.87 billion by 2029, with a compound annual growth rate (CAGR) of 8.5%. Factors contributing to this growth encompass the rise of edge computing, Artificial Intelligence (AI), big data analytics, hybrid and multi-cloud tactics, remote teamwork tools, and the spread of the Internet of Things (IoT). Predominant trends noted over the projected period include the incorporation of cloud technologies, technological progressions, swift adoption of SSD technology, a heightened focus on storage capacity, and the integration of thunderbolt and USB-c connectivity.
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How are the latest trends influencing the growth of the external disk system market?
Leading firms in the external disk system market are enhancing their focus on developing novel products and solutions like portable Solid State Drives (SSD) to amplify their market profits. A portable SSD is a compact, external data storage device that leverages flash memory for storing data and enabling file backup or transfers between computers. For illustration, Samsung Electronics Co. Ltd., a South Korea-domiciled company producing external storage devices, unveiled the PSSD T7 Shield in March 2023. This exceptional 4 TB T7 Shield Portable SSD outputs power through USB 3.2 Gen2 and attains read/write speeds of up to 1,050/1,000 MB/s, coupled with integrated PCI NVMe technology. The PSSD T7 Shield facilitates a swift, uninterrupted workflow for its users by drastically cutting down on waiting times. Moreover, this most recent SSD is 9.5 times quicker compared to external hard disk drives (HDDs). The robust aluminum frame of the PSSD T7 Shield, rubber-coated for safety, is shock-proof against falls of up to three meters.
Which primary segments of the external disk system market are driving growth and industry transformations?
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 geographical regions are pioneering growth 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
Who are the influential players reshaping the external disk system market landscape?
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.
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What Is Covered In The External Disk System Global Market Report?
• Market Size Forecast: Examine the external disk system market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the external disk system market for a structured understanding.
• Key Players Overview: Analyze major players in the external disk system market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the external disk system market.
• Segment Contributions: Evaluate how different segments drive overall growth in the external disk system market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the external disk system market.
• Industry Challenges: Identify potential risks and obstacles affecting the external disk system market.
• Competitive Landscape: Review strategic developments in the external disk system market, including expansions, agreements, and new product launches.
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