Computer Storage Devices Market Expansion Continues, with Forecast Valuation of $16.15 Billion by 2029

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Computer Storage Devices Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been a slight increase in the market size of computer storage devices. Projections indicate that this market will expand from $14.54 billion in 2024 to $14.78 billion in 2025, reflecting a compound annual growth rate (CAGR) of 1.7%. This growth during the historical period is related to several factors such as the shift from magnetic tapes to disks, the launch of hard disk drives (hdds), the emergence of flash memory, improvements in storage capacities, and the influence of Moore's Law.

Computer Storage Devices Market Size Forecast: What's the Projected Valuation by 2029?
The predicted growth for the market of computer storage devices in the coming years is stable, with an expected valuation of $16.15 billion in 2029, reflecting a compound annual growth rate (CAGR) of 2.2%. Influences pushing this growth for the projected era can be linked to the advancements in edge computing, data center modernisation, evolution of AI and machine learning, the proliferation of IoT devices, the surge in remote work, and the wider adoption of cloud storage. The major expected trends during this outlook period include the prevalence of solid-state drives (SSDS), the rise of storage solutions based in the cloud, expansion of data centers, the incorporation of artificial intelligence and big data, as well as requirements around edge computing.

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What Are the Drivers Transforming the Computer Storage Devices Market?
The anticipated expansion of the computer storage devices market is attributed to the rising number of social media users necessitating the storage of big data for subsequent analytical processes. Big data, composed of substantial volumes of structured and unstructured information, necessitates substantial storage devices, thereby stimulating the demand for computer storage devices. As an example, We Are Social, a media firm based in the UK, revealed in February 2023 that one-third of Australians utilize social networks for brand research, reflecting a 7.3% increase from the prior year. Therefore, the growing utilization of big data by organizations to engage the target audience via social media data is positively impacting the computer storage devices market.

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What Long-Term Trends Will Define the Future of the Computer Storage Devices Market?
SSDs (solid state drives) and flash arrays are gaining traction in the computer storage devices market. SSDs, a form of hard disk that utilize flash memory for data storage, outpace traditional hard disks in terms of read and write speeds, and they also use less energy. For example, in December 2022, US computer technology firm SanDisk introduced four professional-grade storage devices: the PRO-G40 SSD, G-DRIVE Enterprise Class Desktop Hard Drive, G-RAID Shuttle SSD, and PRO-DOCK 4. These latest offerings from SanDisk are tailored to suit the requirements of professional content creators, with benefits of high performance, reliability, and scalability. Consumers can purchase them either through authorized retailers or the Western Digital Store.

Which Segments in the Computer Storage Devices Market Offer the Most Profit Potential?
The computer storage devicesmarket covered in this report is segmented -

1) By Type: Hard Disk Drive, Solid State Drive, USB Flash Drives, Memory Cards, Optical Disks, Other Types
2) By Usage: Individual Usage, Enterprise Usage
3) By Application: Mainframes, Desktop, Laptop Computers, Other Applications

Subsegments:
1) By Hard Disk Drive (HDD): Internal HDD, External HDD
2) By Solid State Drive (SSD): SATA SSD, NVMe SSD, M.2 SSD
3) By USB Flash Drives: Standard USB Flash Drives, High-Speed USB Flash Drives, USB OTG Flash Drives
4) By Memory Cards: SD Cards (Secure Digital), MicroSD Cards, CompactFlash Cards, CFexpress Cards
5) By Optical Disks: CDs (Compact Discs), DVDs (Digital Versatile Discs), Blu-ray Discs
6) By Other Types: Tape Drives, Hybrid Drives, Cloud Storage Solutions

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Which Firms Dominate the Computer Storage Devices Market by Market Share and Revenue in 2025?
Major companies operating in the computer storage devices market include Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., Huawei Technologies Co. Ltd., Sony Corporation, Amazon Web Services Inc., Lenovo Group Limited, Intel Corporation, International Business Machines Corporation, Oracle Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, Toshiba Corporation, Western Digital Corporation, Kingston Technology Company Inc., Seagate Technology LLC, Transcend Information Inc., NetApp Inc., SanDisk Corporation, Pure Storage Inc., Quantum Corporation, Nutanix Inc., Cisco Systems Inc.

Which Regions Offer the Highest Growth Potential in the Computer Storage Devices Market?
Asia-Pacific was the largest region in the computer storage devices market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the global computer storage devices market report during the forecast period. The regions covered in the computer storage devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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