“Global Hard Disk Drive Market, By Type (SSD, HDD, HH), By Application (Personal Use, Commercial Use, Government, Others), as well as by Region – Global Forecast 2021 to 2029.”, which offers a comprehensive view of the Global Hard Disk Drive Market through systematic segmentation, covering every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $77,717.1 Mn, and is estimated to increase substantially over the latter part of the forecast period.
A Hard Disk Drive (HDD), hard disk, fixed disk, or hard drive, is an electro-mechanical data storage device that stores and retrieves digital data using magnetic storage, and one or more rigid, rapidly rotating platters coated with a magnetic material.
Owing to the anticipated increase in the traffic through public cloud data center, there is expected to be an exponential increase in the demand for effective storage devices. This is a major factor that is slated to have a profound impact on the revenue growth of the global hard disk drive market in the years to come. Moreover, the increasing adoption of these products among numerous end-user industries for various applications, be it commercial, government, or personal usage, is also a factor that is expected to contribute to the market growth of the Global Hard Disk Drive Market. The surging popularity of smartphones is gradually beginning to phase-out the use of hard disk drives, and this could hamper the revenue growth of this global industry in the near future. However, given that the landscape for market growth has slightly stagnated in most developed nations, industry players are rapidly focusing their respective attention towards the various emerging economies that are brimming with the potential for robust revenue growth. These are some of the other elements that are expected to further augment the global market footprint of this sector, and are some of the most crucial factors anticipated to play a critical role in augmenting projected revenues for the Global Hard Disk Drive Market to $97,558.5 Mn by 2029, at a CAGR of 6.0%.
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