SSDs wont displace hard drives in the next 10 years
Hardware

SSDs won’t displace hard drives in the next 10 years – the HDD market is expected to grow 3.5x by 2033

At the end of 2022, the hard drive market showed significant growth and stopped at around $36.5 billion. This segment will continue to experience positive momentum with a compound annual growth rate of 12%, reaching $126.967 billion by 2033. This is the forecast from analysts Future market insights.

    Image source: Michael Schwarzenberger / pixabay.com

Image source: Michael Schwarzenberger / pixabay.com

Experts based their optimism on a number of positive factors: Firstly, the constantly growing demand for data storage solutions in a world in which digitalization is becoming more and more active; and advances in hard drive technology. Large amounts of data are still being generated and stored by both organizations and individuals – their needs are growing, driving significant growth in the HDD industry. Leading hard drive manufacturers are actively innovating and increasing storage capacities, which will ensure that magnetic disks remain the preferred solution for storing large amounts of data and will contribute to the further growth of hard drive sales.

NAS drives continue to be the leaders in the hard drive industry, already accounting for over 40% of this market – annual growth here is expected to be in the double-digit percentage range throughout the forecast period. Stable millet drives are used with relatively small capacities – around 1 TB; Active growth is expected in external drives with USB ports, which now account for more than a third of total sales. The preferred strategies of players in the hard drive market will be geographical expansion and collaboration with other vendors, analysts are confident.

Another key to the growth of local data storage technologies is the increasing frequency of cyberattacks on corporate resources – storage facilities are often isolated from corporate networks and the Internet, and cloud infrastructure is still inferior to these solutions. According to analysts, this trend will continue throughout the forecast period. At the same time, demand for maximum capacity hard drives will be most active, and this imbalance may prove to be a limiting factor in the growth of the entire market.

RELATED TOPICS

About the author

Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

Add Comment

Click here to post a comment