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External Disk System Market on Track for Strong Growth, Estimated to Grow at 8.7% CAGR Through 2029
External Disk System Market
How Large Will the External Disk System Market Size By 2025?
In recent times, there has been a robust growth in the market size of the external disk system. This market is projected to rise from $47.43 billion in 2024 to $51.02 billion in 2025, with a compound annual growth rate (CAGR) standing at 7.6%. The historical growth pattern can be traced back to factors such as data surge, plans for business continuity, the trend of remote working, security issues, and trends in consumer electronics.
How Big Is the External Disk System Market Size Expected to Grow by 2029?
The market size of the external disk system is anticipated to witness robust expansion in the forthcoming years, reaching $71.26 billion by 2029, fueled by a compound annual growth rate (CAGR) of 8.7%. The surge anticipated during the prediction period is due to factors such as the rise of edge computing, the influence of AI and big data analytics, the augmentation of hybrid and multi-cloud strategies, the utilization of remote collaboration tools, and the progression of IoT. The prediction period will also observe significant market trends like cloud assimilation, cutting-edge technological developments, the quick adoption of SSD technology, increasing emphasis on storage capacity, along with the incorporation of thunderbolt and USB-c connectivity.
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Which Key Market Drivers Powering External Disk System Market Expansion and Growth?
Data storage solutions are steadily increasing in demand, and this is set to fuel the expansion of the external disk system market. Such solutions provide a way to store and manage digital data for straightforward retrieval and long-lasting safeguarding. External disk systems play a crucial role in these solutions, delivering secure, scalable, and transportable storage alternatives for both businesses and individual users that need to handle increasing volumes of data. For instance, a report issued by The Linux Foundation, a non-profit consortium based in the US, revealed in December 2022 that data storage escalated to a maximum of 20 petabytes, indicating a yearly data growth of 566 terabytes for a typical end-user organization in 2021, and 1,746 terabytes in 2022. Furthermore, for a maximum of 25 petabytes, the annual data growth rose to 700 terabytes in 2021, and a staggering 2,208 terabytes in 2022 for an average end-user organization. Consequently, the escalated demand for data storage solutions is propelling the growth of the external disk system market.
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Which Fast-Growing Trends Are Poised to Disrupt the External Disk System Market?
Leading businesses engaged in the external disk system market are focusing on the development and release of innovative goods and services like portable SSDs to enhance their market profitability. A portable SSD is a compact external storage device that uses flash memory technology to store data and conduct file backups or transfers between computing devices. In the context, Samsung Electronics Co. Ltd., based in South Korea and known for manufacturing external storage devices, in March 2023, brought to the market the PSSD T7 Shield - a groundbreaking 4 TB T7 Shield Portable SSD. This additive to external storage technology runs on USB 3.2 Gen2 and offers read/write speeds of as high as 1,050/1,000 MB/s, thanks to the embedded PCI NVMe technology. The PSSD T7 Shield reduces waiting times substantially, enhancing productivity by providing an uninterrupted workflow. Comparatively, this recent SSD is about 9.5 times faster than external hard disk drives (HDDs). The PSSD T7 Shield has a robust aluminum structure, cushioned with rubber, providing shock resistance from falls up to three meters.
What Are the Emerging Segments in the External Disk System Market?
The external disk systemmarket 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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Who Are the Global Leaders in the External Disk System Market?
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.
Which are the Top Profitable Regional Markets for the External Disk System Industry?
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
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