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 "
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.
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