According to Stratistics MRC, the Global Digital storage device Market is estimated at $1.64 billion in 2015 and is poised to reach $6.27 billion by 2022, growing at a CAGR of 21.0%. The arrival of cloud computing has given rise to trends such as enterprise mobility, Big Data and analytics, which have created progressively more linked data ecosystems, and this is driving the demand for digital data storage capacity. Whereas, producing enough storage devices to hold the rapidly increasing rate is the major challenge posed by the market. The cloud has been regarded as a threat to digital storage devices market, but infact the increasing rates of cloud adoption will amplify the demand for the hard drives and solid state drives that comprise cloud storage, creating more opportunities for storage vendors.
The Solid State Drive (SSD) market has seen a barb in growth, but Hard Disk Drives (HDD) sustains their dominance in the market. Technological advancements in both magnetic disks and heads will continue to aid enhancements in HDD recording. However, the come up of USB 3.0 specification for high-speed file transfer is anticipated to fuel the demand for USB flash drives in the coming years. Europe commanded the market globally. APAC is expected to emerge as the fastest growing region supported by spiralling use of entertainment services, strong economic growth and rapidly increasing SMBs in India and China.
The major players in the global Digital storage device market include Lenovo, SanDisk Corporation, Transcend Information, Inc., Sony Corporation, Seagate Technology, Toshiba Corporation, Western Digital Technologies, Inc., Kingston Technology Corporation, Inc., Intel Corporation, Inc, Samsung Electronics, EMC Corp, IBM Corp, TeraData Corp., Imation Corp, Kingmax Technology Inc., Micron Technology Inc., Lexar Media Inc., PNY Technologies Inc., RITEK Corporation and Verbatim Americas, LLC.
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Device Types Covered:
Hard disk drives (HDD)
Solid State Drives (SSD)
Optical disk drives
Compact Disk – CD
Digital Versatile Disc – DVD
USB flash drives
Rest of Europe
Rest of Asia Pacific
Rest of the World
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