Press release
Global External Storage Industry Outlook 2025-2029: Market Set to Cross $73.51 Billion Milestone
External Storage
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External Storage Market Size Valuation Forecast: What Will the Market Be Worth by 2025?_x000D_
The size of the external storage market has witnessed swift expansion over the past few years. The sector which valued at $40.44 billion in 2024, is projected to escalate to $45.69 billion by 2025, experiencing a compound annual growth rate of 13.0%. The notable growth during the historic era can be linked to an increase in data production, the advent of cloud-based services, the burgeoning digital media and entertainment industry, an upsurge in small and medium-sized enterprises (SMEs), and the rising significance of data backup._x000D_
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External Storage Market Size Forecast: What's the Projected Valuation by 2029?_x000D_
The forecasted size of the external storage market is anticipated to experience a swift expansion in the coming years, estimated to reach $73.51 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 12.6%. This predicted surge during the forecast period can be traced back to an increasing pattern of data accumulation, the rising necessity for work-from-home solutions, heightened attention towards cybersecurity, the growing preference for 4k and 8k content, and a widespread utilization of edge computing. Going into the forecast period, prominent trends will be the expansion of network-attached storage (NAS), increased use of solid-state drives (SSDs), AI-based smart storage implementation, the evolving function in edge computing, and sustainable, environmentally friendly storage solutions._x000D_
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What Are the Drivers Transforming the External Storage Market?_x000D_
The growth of the external storage market is anticipated to be driven by the escalating demand for data storage. The latter refers to the preservation of digital data like files and folders on a storage system or medium in a manner that allows easy future access. The surge in demand for data has amplified the use of external storage due to its higher capacity, data backup features, mobility, and adaptability for various media, niche applications and cooperation needs across an array of devices and industries. For example, a report by The Linux Foundation, a non-profit consortium from the US, revealed in December 2022 that an average end-user establishment with a storage limit of up to 20 petabytes had an annual data growth of 566 terabytes in 2021 and 1,746 terabytes in 2022. Similarly, organizations with a storage limit of 25 petabytes reported a marked growth in annual data at 2,208 terabytes in 2022, an augmentation of 215.43%, or thrice the 700 terabytes in 2021. Therefore, the growth of the external storage market will be facilitated by the upsurge in the demand for data storage._x000D_
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What Long-Term Trends Will Define the Future of the External Storage Market? _x000D_
Significant players in the external storage market are concentrating their efforts on creating cutting-edge solutions, such as NAND flash memory, in order to establish a competitive stance in the industry. This non-volatile storage method, which retains data even when unplugged from power, is incorporated into a wide array of electronic items, from phones and computers to data warehouses and business storage systems. To illustrate, in March 2022, Micron Technology Inc., an American memory and storage solutions manufacturer, unveiled the 7450 SSD which utilizes 176-layer 3D NAND technology. The 7450 SSD provides a wide capacity spectrum, from 400 GB to 15.36 TB, which can be adapted to suit various needs within data centers. Moreover, it provides consistent and reliable latencies below two milliseconds, a pivotal aspect in providing high-level service delivery for major data center workloads._x000D_
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Which Segments in the External Storage Market Offer the Most Profit Potential?_x000D_
The external storagemarket covered in this report is segmented - _x000D_
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1) By Storage Type: Optical Storage, Solid-State Storage Devices, Flash Storage Devices, External Hard Drives, Other Storage Type_x000D_
2) By Interface: Universal Serial Bus (USB), Thunderbolt, External SATA (eSATA), Firewire_x000D_
3) By Capacity: Up To 1 TB, 1TB To 100 TB, Above 100 TB_x000D_
4) By Application: Consumer Electronics, Healthcare Devices, Automotive Application, Enterprise Storage, Industrial Applications, Other Applications_x000D_
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Subsegments:_x000D_
1) By Optical Storage: CDs (Compact Discs), DVDs (Digital Versatile Discs), Blu-ray Discs_x000D_
2) By Solid-State Storage Devices: SATA SSDs (Serial ATA Solid-State Drives), NVMe SSDs (Non-Volatile Memory Express Solid-State Drives)_x000D_
3) By Flash Storage Devices: USB Flash Drives, Memory Cards_x000D_
4) By External Hard Drives: Portable External Hard Drives, Desktop External Hard Drives_x000D_
5) By Other Storage Type: Hybrid Drives, Network-Attached Storage (NAS) Devices_x000D_
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Which Firms Dominate the External Storage Market by Market Share and Revenue in 2025?_x000D_
Major companies operating in the external storage market report are Samsung Electronics Co. Ltd., Dell Technologies Inc., Lenovo Group Limited, International Business Machines Corporation, Oracle Corporation, SK Hynix Inc., Fujitsu Ltd., Hewlett Packard Enterprise Development LP, Toshiba Corporation, Micron Technology Inc., Western Digital Corporation, Seagate Technology LLC, Kingston Technology Company Inc., NetApp Inc., Hitachi Vantara LLC, Pure Storage Inc., SanDisk Ltd., ADATA Technology Co. Ltd., Transcend Information Inc., Quantum Corporation, QNAP Systems Inc., Synology Inc., LaCie, Infortrend Technology Inc., Promise Technology Inc., Zoolz, Thecus Technology Corp., pCloud International AG, ID Cloud Services Ltd., Koofr d.o.o._x000D_
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Which Regions Offer the Highest Growth Potential in the External Storage Market?_x000D_
North America was the largest region in the external storage market in 2024. The regions covered in the external storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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