Hard Disk Drive (HDD) Market Size (2024 - 2029)

Hard Disk Drives Market Analysis

The Global Hard Disk Drive Market size is estimated at USD 19.93 billion in 2024, and is expected to decline to USD 15.53 billion by 2029.

Hard disk drives (HDDs) are data storage devices used in computers and other electronic devices. They consist of one or more magnetic disks or platters coated with a magnetic material. HDDs provide non-volatile storage, retaining data even when powered off.

• The increasing penetration of electronic gadgets in the day-to-day lives of consumers is driving the demand for HDDs. Additionally, the recent shift in the technological trends of the consumer electronics industry is expected to support the market's growth further, as the adoption of intelligent, connected technologies/devices is driving the demand for storage drives for storing various types of data.
• Various countries are taking initiatives to boost their manufacturing hub and reduce reliance on imports, which is further expected to drive market growth. For instance, in August 2023, India abruptly restricted the import of personal computers, including laptops and tablets, to boost local electronics manufacturing. Also, various Indian companies are seeking to manufacture their laptops. For instance, recently, Reliance Jio announced the launch of a new laptop model. Similarly, Primebook, a start-up based in New Delhi, is producing a laptop aimed at students in India.
• Furthermore, the consumer industry is among the significant adaptors of hard disk drives (HDDs). With consumer appliances becoming smarter every day, these devices are increasingly mounted in a multitude of consumer electronics appliances as recording/storage media. 
• Apart from their traditional application areas in smartphones and PCs, HDD applications are fast expanding across other consumer electronic devices, such as surveillance camera systems, gaming consoles, and standalone portable storage devices. HDDs can store a large amount of video footage, which is important for surveillance cameras that record continuously.
• However, over the years, SSD capacities have increased with a decline in prices as the demand has shifted from HDD to SSD from enterprise workloads, such as databases, the first to transition, and client devices, following as users shifted to laptops and tablets. Owing to benefits such as durability, reliability, faster speeds, energy efficiency, lower weight, and practical size/form factors, the SSD demand is growing at a rapid rate, which is eating the HDD market share.

Hard Disk Drives Industry Segmentation

Hard disk drives (HDDs) are data storage devices used in computers and other electronic devices. They consist of one or more magnetic disks or platters coated with a magnetic material. HDDs provide non-volatile storage, retaining data even when powered off.

The hard disk drive (HDD) market is segmented by form factor (2.5 inch and 3.5 inch and others), application (mobile, consumer, desktop, enterprise, nearline, and other applications), and geography (United States, China, Taiwan, South Korea, Japan, Southeast Asia, and Rest of the World). 

The report offers market forecasts and size in value (USD) and volume (units) for all the above segments.