External Hard Disk Market: By Form Factor , By Application, By Capacity, By Interface, and Geography

External Hard Disk Market Size, Share, Growth, Trends, and Global Industry Analysis: By Form Factor (2.5 inch, 3.5 inch, and Others), By Application (Mobile, Consumer Desktop, Enterprise, Nearline, and Other Applications), By Capacity (Less than 1TB, 1-5TB, and Above 5TB), By Interface (USB 3.0, USB 2.0, Thunderbolt, and USB-C), and Region

External Hard Disk Market size was valued at US$ 4,897.2 million in 2023 and is poised to grow at a CAGR of 6.4% from 2024 to 2030. External hard disks are portable storage devices crucial for data backup, storage expansion, and file transfer across various applications. The market is segmented by form factor, with 2.5-inch drives dominating the portable segment due to their compact size and lower power consumption, while 3.5-inch drives cater to high-capacity needs in desktop and enterprise environments. In terms of applications, the market serves diverse needs. The mobile segment is growing rapidly, driven by the increasing need for portable storage solutions for laptops and tablets. Consumer desktop applications remain steady, with users requiring large capacities for media storage and backups. The enterprise segment is experiencing significant growth, fuelled by increasing data generation in businesses and the need for reliable, high-capacity storage solutions. Nearline storage, bridging the gap between online and offline storage, is gaining traction as organizations seek cost-effective solutions for storing large amounts of less frequently accessed data.

The increasing volume of digital content, growing need for data security, and rising adoption of high-resolution media are driving the external hard disk market across all form factors and applications. Additionally, the shift towards remote work and digital transformation across industries has further boosted demand for reliable storage solutions. Technological advancements such as the development of solid-state drives (SSDs), helium-filled drives, and higher capacity hard disk drives (HDDs) contribute to market growth by improving performance, reliability, and storage capabilities across different form factors and applications. However, challenges such as the rising popularity of cloud storage services and the decreasing cost of internal SSDs may impact market growth, particularly in the consumer desktop segment. Despite these challenges, concerns about data privacy and the need for offline backups continue to support the external hard disk market, especially in enterprise and nearline applications. The Asia Pacific region is expected to show the fastest growth during the forecast period, driven by rapid digitalization and a growing tech-savvy population.

External Hard Disk Market Key Developments:

In 2023, Western Digital introduced the My Passport SSD with capacities up to 4TB, featuring:

  • 5-inch form factor for portability
  • Read speeds up to 1050MB/s and write speeds up to 1000MB/s
  • Targeting mobile and consumer desktop applications
  • Password-enabled 256-bit AES hardware encryption

External Hard Disk Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.4%

Largest Market

North America

Fastest Growing Market

Asia Pacific

External Hard Disk Market Dynamics

The exponential growth in data generation, estimated at 2.5 quintillion bytes daily, is a significant driver for the external hard disk market across all form factors and applications. The 2.5-inch segment is benefiting from the increasing mobility of the workforce, with 25% of all professional jobs in North America expected to be remote by the end of 2024. This trend is boosting demand for portable, high-capacity storage solutions. The 3.5-inch segment continues to dominate in terms of maximum capacity, with drives now reaching up to 20TB. This makes them ideal for nearline storage applications, where high capacity and cost-effectiveness are crucial. However, the market faces challenges from cloud storage services, which offer convenient access to data from multiple devices. Nonetheless, concerns about data privacy and security in cloud storage may drive some users towards physical storage solutions, benefiting the external hard disk market across all segments.

External Hard Disk Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 4,897.2 million

Market CAGR

6.4%

By Form

  • 5 inch
  • 5 inch
  • Others

By Application

  • Mobile
  • Consumer Desktop
  • Enterprise
  • Nearline
  • Other Applications

By Capacity

  • Less than 1TB
  • 1-5TB
  • Above 5TB

By Interface

  • USB 3.0
  • USB 2.0
  • Thunderbolt
  • USB-C

 

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

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Frequently Asked Questions

External Hard Disk Market was valued at US$ 4,897.2 million in 2023 and is expected to grow at a CAGR of 6.4% from 2024 to 2030.

The External Hard Disk Market is segmented based on Form Factor, Application, Capacity, Interface, and Geography.

The leading players in the global External Hard Disk Market are Western Digital Corporation, Seagate Technology LLC, Toshiba Corporation, Samsung Electronics Co., Ltd., and others listed in the Competition Assessment section.

Historic years considered for the market study are 2019-2022, 2023 is considered as the base year for market estimation, and Seven years forecast is presented from 2024 – 2030.

1.Executive Summary
2.Global External Hard Disk Market Introduction 
2.1.Global External Hard Disk Market  - Taxonomy
2.2.Global External Hard Disk Market  - Definitions
2.2.1.Form
2.2.2.Application
2.2.3.Interface
2.2.4.Capacity
2.2.5.Region
3.Global External Hard Disk Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global External Hard Disk Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global External Hard Disk Market  By Form, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. 5 inch
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. 5 inch
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Others
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global External Hard Disk Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Mobile
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Consumer Desktop
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Enterprise
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Nearline
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Other Applications
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
7.Global External Hard Disk Market  By Interface, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. USB 3.0
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. USB 2.0
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Thunderbolt
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. USB-C
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
8.Global External Hard Disk Market  By Capacity, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Less than 1TB
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. 1-5TB
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Above 5TB
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
9.Global External Hard Disk Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America External Hard Disk Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.5 inch
10.1.2.5 inch
10.1.3.Others
10.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Mobile
10.2.2.Consumer Desktop
10.2.3.Enterprise
10.2.4.Nearline
10.2.5.Other Applications
10.3.  Interface Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.USB 3.0
10.3.2.USB 2.0
10.3.3.Thunderbolt
10.3.4.USB-C
10.4.  Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Less than 1TB
10.4.2.1-5TB
10.4.3.Above 5TB
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe External Hard Disk Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Form Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.5 inch
11.1.2.5 inch
11.1.3.Others
11.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Mobile
11.2.2.Consumer Desktop
11.2.3.Enterprise
11.2.4.Nearline
11.2.5.Other Applications
11.3.  Interface Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.USB 3.0
11.3.2.USB 2.0
11.3.3.Thunderbolt
11.3.4.USB-C
11.4.  Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Less than 1TB
11.4.2.1-5TB
11.4.3.Above 5TB
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) External Hard Disk Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Form Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.5 inch
12.1.2.5 inch
12.1.3.Others
12.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Mobile
12.2.2.Consumer Desktop
12.2.3.Enterprise
12.2.4.Nearline
12.2.5.Other Applications
12.3.  Interface Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.USB 3.0
12.3.2.USB 2.0
12.3.3.Thunderbolt
12.3.4.USB-C
12.4.  Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Less than 1TB
12.4.2.1-5TB
12.4.3.Above 5TB
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) External Hard Disk Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Form Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.5 inch
13.1.2.5 inch
13.1.3.Others
13.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Mobile
13.2.2.Consumer Desktop
13.2.3.Enterprise
13.2.4.Nearline
13.2.5.Other Applications
13.3.  Interface Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.USB 3.0
13.3.2.USB 2.0
13.3.3.Thunderbolt
13.3.4.USB-C
13.4.  Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Less than 1TB
13.4.2.1-5TB
13.4.3.Above 5TB
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America External Hard Disk Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1. Form Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.5 inch
14.1.2.5 inch
14.1.3.Others
14.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Mobile
14.2.2.Consumer Desktop
14.2.3.Enterprise
14.2.4.Nearline
14.2.5.Other Applications
14.3.  Interface Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.USB 3.0
14.3.2.USB 2.0
14.3.3.Thunderbolt
14.3.4.USB-C
14.4.  Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Less than 1TB
14.4.2.1-5TB
14.4.3.Above 5TB
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Western Digital Corporation
15.2.2.Seagate Technology LLC
15.2.3.Toshiba Corporation
15.2.4.Samsung Electronics Co., Ltd.
15.2.5.Transcend Information, Inc.
15.2.6.Buffalo Americas, Inc.
15.2.7.Hitachi Ltd. (HGST)
15.2.8.Apricorn Inc.
15.2.9.Corsair Components, Inc.
15.2.10.SanDisk Corporation (now part of Western Digital)
15.2.11.Lenovo Group Limited
16. Research Methodology 
17. Appendix and Abbreviations 

Key Market Players

  • Western Digital Corporation
  • Seagate Technology LLC
  • Toshiba Corporation
  • Samsung Electronics Co., Ltd.
  • Transcend Information, Inc.
  • Buffalo Americas, Inc.
  • Hitachi Ltd. (HGST)
  • Apricorn Inc.
  • Corsair Components, Inc.
  • SanDisk Corporation (now part of Western Digital)
  • Lenovo Group Limited

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