Press release
External Disk System Market Size Forecasted To Achieve $70.87 Billion By 2029 With Steady Growth
External Disk System
What Is the External Disk System Market Size and Projected Growth Rate?
There has been a significant increase in the size of the external disk system market in the latter years. Its value is projected to rise from $47.43 billion in 2024 to $51.15 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.8%. This expansion over the historical period can be credited to factors such as data surge, strategies for business continuity, the rise in remote work practices, security issues, and trends in consumer electronics.
The market size of the external disk system is slated to witness robust expansion in the coming years, with an expectation to reach a valuation of $70.87 billion by 2029, accelerating at a Compound Annual Growth Rate (CAGR) of 8.5%. Factors that will contribute to this growth in the projection period encompass the surge in edge computing, AI and large-scale data analytics, the implementation of hybrid and multi-cloud strategies, the use of remote collaboration tools, and the proliferation of IoT. The future trends likely to shape this period involve the incorporation of cloud, progress in technology, the swift embrace of SSD technology, the increasing focus on storage capacity, and the use of thunderbolt and USB-c connectivity.
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What Are the Major 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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What Are The Driving External Disk System Market Evolution?
The surging requirement for data storage solutions is anticipated to spur the expansion of the external disk system market. Data storage solutions encompass techniques and technologies deployed for the preservation and management of digital data for easy access and long-term use. External disk systems, offering scalable, safe, and portable storage choices, are integral to data storage solutions, catering to businesses and individuals grappling with increasing data volumes. For instance, a report by The Linux Foundation, a US-based not-for-profit consortium, in December 2022 indicated that the escalation in data storage to a maximum limit of 20 petabytes represented an annual data proliferation of 566 terabytes for an average end-user organization in 2021, and 1,746 terabytes in 2022. For a maximum limit of 25 petabytes, the annual data growth surged by 700 terabytes in 2021 and 2,208 terabytes in 2022 for a typical end-user setup. Hence, the escalating requirement for data storage solutions is fuelling the external disk system market. External Disk System Market Driver: Surge In Adoption In Gaming Sector To Boost The External Disk System Market
Which Firms Dominate The External Disk System Market Segments?
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 Trends Are Expected to Dominate the External Disk System Market in the Next 5 Years?
Leading enterprises in the arena of the external disk system market are honing their emphasis on launching novel products and solutions, like portable SSD (Solid State Drive), with a view to optimize their market returns. A portable SSD, being an exceptional external storage device, employs flash memory to save data and transfer or back up files among computers. As an illustration, Samsung Electronics Co. Ltd., a manufacturer of external storage devices hailing from South Korea, unveiled the PSSD T7 Shield, a remble 4 TB T7 Shield Portable SSD (Solid State Drive) in March 2023. This specific external storage gadget draws power from USB 3.2 Gen2 and endorses read/write rates reaching up to 1,050/1,000 MB/s along with an in-built PCI NVMe technology. The PSSD T7 Shield facilitates users with a swift, smooth workflow by considerably shrinking the waiting time. In addition, this latest SSD outruns external hard disk drives (HDDs) by a striking rate of 9.5 times. Encased in tough aluminum and rubber coating, the PSSD T7 Shield possesses resistance to shocks from falls up to three meters.
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Which Is The Largest Region 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the External Disk System Market?
2. What is the CAGR expected in the External Disk System Market?
3. What Are the Key Innovations Transforming the External Disk System Industry?
4. Which Region Is Leading the External Disk System Market?
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