Global Digital storage device Market by Type (Hard Disk Drives (HDD), Solid State Drives (SSD), Memory Cards, Floppy Disks, Optical Disk Drives, USB Flash Drives), By Application (PC, Mobile, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global digital storage device market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for data storage, owing to the growing number of connected devices and rising data traffic. Additionally, the increasing adoption of cloud-based services is also contributing to the growth of this market. On the basis of type, hard disk drives (HDD) are expected to account for a major share of the global digital storage device market in 2018. This can be attributed to their high capacity and low cost as compared with other types of digital storage devices such as solid state drives (SSD) and memory cards. However, SSDs are witnessing a higher growth rate than HDDs due their advantages such as faster access time, lower power consumption, and longer life span. On the basis of application, PCs are expected to account for a major share of the global digital storage device market in 2018 followed by mobile phones and tablets.



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Product Definition:

A digital storage device is a piece of technology that can store digital information. This information can include photos, music, videos, and other files. Digital storage devices are important because they allow people to keep their data safe and organized. Additionally, they make it easy to access this data from any device with a USB port.

Hard Disk Drives (HDD):

Hard disk drive, commonly known as hard drive or storage device is an electronic device that stores and protects digital data on a magnetic medium. The modern hard disk drive consists of at least one flexible, coated and sealed plastic recordable disc along with some sort of mechanism for reading and writing data to the disc. Some drives have multiple mechanisms for reading from or writing to different parts of the same disc; others have separate discs altogether.

Solid State Drives (SSD):

Solid State Drives (SSD) are a type of digital storage device, which uses integrated circuit chips to store data without the need for an external power source. It is also known as flash memory and is used in USB drives, laptops, tablets and smartphones among others. The solid state drive acts as a virtual disk that can be used to store or retrieve files from the computer with faster speed than normal hard disk drives (HDD).

Application Insights:

The others application segment accounted for a major share in the global digital storage device market in 2017, as various devices including cameras, video recorders and media players are moving away from traditional storage mediums such as tapes and cartridges towards digital forms. Moreover, with the increasing popularity of cloud-based services among consumers there has been a rise in demand for online backup solutions. This trend is expected to continue over the forecast period thus driving growth across all applications.

PC was estimated as the largest segment owing to high usage of hard disk drives (HDD) and solid state drives (SSD). The growing use of these devices within laptops and desktops is anticipated to drive their demand over the forecast period.

Regional Analysis:

The global digital storage device market is dominated by North America owing to the presence of key players such as Western Digital, Seagate Technology, and Toshiba. The increasing demand for laptops and smartphones is driving the growth of this industry in this region. Europe accounted for over 25% share in 2016 owing to an increase in investments made by companies such as Samsung Electronics Co., Ltd., Sony Corporation, LG Electronics Inc., and Fujifilm Holdings Corporation. These companies are focusing on developing new technologies that will enhance the performance of SSDs or HDDs thereby boosting their sales across this region.

Growth Factors:

Increasing demand for data storage: The global digital storage device market is expected to grow at a CAGR of 6.5% from 2016 to 2021. This growth can be attributed to the increasing demand for data storage, owing to the proliferation of digital content such as videos, images, and music.
Proliferation of big data: The growing volume of big data is also contributing to the growth of the digital storage device market. Big data refers to extremely large datasets that cannot be processed using traditional computing methods. Thus, there is a growing need for big data analytics solutions that can manage and process these large datasets effectively.
Emergence of cloud-based services: Cloud-based services are gaining popularity due to their convenience and cost-effectiveness. These services allow users to store their files on remote servers instead of their local devices or computers, thus freeing up space on their devices for other purposes .


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Scope Of The Report
Report Attributes
Report Details
Report Title
Digital storage device Market Research Report
By Type
Hard Disk Drives (HDD), Solid State Drives (SSD), Memory Cards, Floppy Disks, Optical Disk Drives, USB Flash Drives
By Application
PC, Mobile, Others
By Companies
Lenovo, SanDisk Corporation, Transcend Information, Sony Corporation, Seagate Technology, Toshiba Corporation, Western Digital, Kingston Technology, Intel Corporation, Samsung Electronics, Lenovo
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
198
Number of Tables & Figures
139
Customization Available
Yes, the report can be customized as per your need.

Global Digital storage device Market Report Segments:
The global Digital storage device market is segmented on the basis of:
Types
Hard Disk Drives (HDD), Solid State Drives (SSD), Memory Cards, Floppy Disks, Optical Disk Drives, USB Flash Drives
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
PC, Mobile, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Lenovo
SanDisk Corporation
Transcend Information
Sony Corporation
Seagate Technology
Toshiba Corporation
Western Digital
Kingston Technology
Intel Corporation
Samsung Electronics
Lenovo



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Highlights of The Digital storage device Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Hard Disk Drives (HDD)
Solid State Drives (SSD)
Memory Cards
Floppy Disks
Optical Disk Drives
USB Flash Drives
By Application:
PC
Mobile
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Digital storage device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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