- 5 inch
- 5 inch
- Others
External Hard Disk Market size was valued at USD 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.
In 2023, Western Digital introduced the My Passport SSD with capacities up to 4TB, featuring:
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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 was valued at USD 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 |