USB 3.0 Significant Revenue Generator
USB 3.0 hard disk drives, accounting for around a third of total sales, continue to observe greater demand as compared to their other counterparts. Developers of USB 3.0 hard disk drives have been reaping maximum profits in developing regional markets, whereas the report reveals that USB 2.0 hard disk drive developers will also experience solid growth in revenues over the following years. The study, on the other hand, also highlights strong possibilities of USB 3.1 Gen 1 and USB 3.1 Gen 2 hard disk drives exceeding the USB 2.0 counterparts in the near future, in terms of market value.

Developing Regional Markets Set for Spectacular Growth
Although North America retains its lead in the global hard disk drive market, there are strong possibilities of Western European market outpacing it in 2022. Furthermore, market in Germany will outpace that in the U.K. by 2020 end. However, the U.S. will continue to represent the most lucrative market for hard disk drive, throughout the forecast period. Latin American and Middle East & Africa (MEA) markets will be witnessing impressive growth over the near future, exhibiting a high, double-digit growth rate, especially in Mexico and GCC countries. The market in Asia Pacific excluding Japan (APEJ), projected at over US$ 11 Bn by the end of next decade, is also representing lucrative prospects, where China and Oceania collectively account for more than 3/5th market share.

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Key Growth Influencers - Hard Disk Drive Market

Helium Hard Disk Drives to Provide 20TB Storage Capacity
Top three manufacturers of hard disk drives, namely Western Digital Corporation, Seagate Technology LLC, and Toshiba, are shipping hard disk drives filled with helium. 14 terabytes of storage capacities are currently available in the global market hard disk drive market. Hard disk drive storage capacities are estimated to increase at a rate of approximately 2 terabytes per year during the forecast period of 2019-2029, and hard disk drive storage capacities of more than 20 terabytes are anticipated to be available by the end of the forecast period. Such hard drives are expected to be optimized for high performance and capacities at low costs. Introduction of helium hard disk drives reduces power consumption parameter, while air-filled hard disk drives consume more power for the same storage capacity. Consequentially, helium hard disk drives help to tackle challenges of high energy rating of data centres.

Manufacturers to Leverage Demand for Top-load Rackmount Storage Architectures
Manufacturers are acknowledging rising demand for top-load rackmount hard disk drive storage solutions. Currently, 60 bays in 4U format is the standard edition. However, manufacturers are offering enclosures accommodating approximately 78 to 110 bays for 3.5 inch form factor hard disk drives. Such quantities of hard disk drives are configured using software solutions, instead of opting for hardware Redundant Array of Independent Disks (RAID). Availability of software-defined storage solutions is estimated to continue to boost market growth, along with scale-out designs like Ceph clusters. Additionally, several storage servers are being combined into larger units. In such cases, data protection and security are not ensured through the redundancy of hard disk drives in the server. The redundancy is implemented via storage server nodes that are available in the network.

Increasing Demand for High-Performance Enterprise-grade Hard Disk Drives
The market is witnessing constant demand for enterprise-grade hard disk drives for utilization in server and storage systems. These enterprise server and storage systems require high performance hard disk drives in order to accommodate high storage capacities. Considering rapidly increasing demand for small form factor and low power consuming hard disk drives, 2.5 inch form factor hard disk drives are estimated to witness high adoption as compared to 3.5 inch hard disk drives during the forecast period. Background factors layering hard disk drives include diversification of Network-attached Storage (NAS) and Storage Area Network (SAN) hard disk drives, attributable to rising network usage and changes in data storage and management methodologies based on the Information Lifecycle Management (ILM) concept. For instance, adoption of near line storage for large volume of data found online has been increasing continuously. Therefore, hard disk drives with different storage capacities and costs emphasized over efficiency and performance are typically adopted.

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hard disk drive market share by region
Western Europe Market to Create Lucrative Opportunities
The hard disk drive market in the Western Europe region is estimated to create the highest incremental opportunity during the forecast period. Accelerated adoption of high storage capacity hard disk drives is estimated to enable the Middle East and Africa market to witness significant growth during the forecast period.

North America was the dominant market in 2018 in terms of value for hard disk drives. In the foreseeable future, the U.S is anticipated to emerge as one of the key markets for sustainable revenue generation from hard disk drive deployments, owing to the rapid adoption of intelligent components for data collection and storage processes.

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Hard Disk Drive Market Structure Analysis
The global hard disk drive market is estimated to be highly concentrated during the forecast period.
The projected high concentration is attributable to the revenue generated by tier-1 companies, such as Western Digital Corporation and Seagate Technology LLC.
Approximately 20% of the global hard disk drive market share is held by Toshiba, while more than 70% of the total market is held by the tier-1 companies.