Authored By: Sarah
24 Oct 2023

External Hard Disk Market to witness market revenue expansion by USD 3236.56 Mn through 2023-2027  

The External Hard Disk Market is estimated to exhibit growth at a CAGR of 6.04% between 2022 and 2027 followed by USD 3,236.56 Mn revenue expansion forecast. Multiple advantages of external hard disks, the growing popularity of external SSDs, and the reduction in ASP of NAND flash memory are some of the major determinants of the market advancement. Technavio has been monitoring the External Hard Disk Market growth trajectory that is traced through a detailed analysis of the prevalent market forces, along with competitive benchmarking. 

Technavio's Senior Analyst Quoted ~ "popularity of external SSDs is notably propelling the market expansion worldwide "

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Snapshot of External Hard Disk Market Analysis

Navigating through the growth Drivers of the External Hard Disk Market: It has been observed external SSDs are quite popular when it comes to data storage, Moreover, the absence of moving components reduces the chance of mechanical failures in SSDs.

SSDs have the same input/output interface design as HDDs and store data in solid-state memory, they are made of silicon microchips and store data electronically.

Application of these devices comprises PCs, laptops, ultra-books, smart TVs, servers, HD camcorders, set-top boxes, digital video recorders, and gaming consoles, therefore such benefits will propel global market growth during the forecast period. 

Core Companies Analysis: Leading Brands such as ADATA Technology Co. Ltd., Apple Inc., Buffalo Americas Inc., Hewlett Packard Enterprise Co., Intel Corp., Kingston Technology Co. Inc., LITE-ON Technology Corp., Micron Technology Inc., Quantum Corp., Samsung Electronics Co. Ltd., Seagate Technology Holdings Public Ltd. Co, SK HYNIX Inc., Sony Group Corp., Toshiba Corp., Transcend Information Inc., and Western Digital Corp. are some of the major market participants. Our report comes with a profiled analysis of the market players.

Download our sample report to discover more aspects of the market growth with data-backed analysis. Techavio's report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment 

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 6.04%.

  2. What is the incremental growth of the market?
    The market is expected to grow by USD 3236.56 mn through 2023-2027.

  3. What is a key factor driving this market?
    Multiple advantages of external hard disks will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    APAC, North America, Europe, South America, and Middle East, and Africa are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    41% growth will originate from APAC
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