Global Computer Storage Devices Market Growth Analysis 2024 – Forecast Market Size And Key Factors

Overview and Scope
A computer storage device is a hardware device that stores data and applications on electromagnetic, optical or silicon-based storage media.

Sizing and Forecast
The computer storage devices market size has grown rapidly in recent years. It will grow from $8.75 billion in 2023 to $10.34 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to transition from magnetic tapes to disks, introduction of hard disk drives (hdds), rise of flash memory, advancements in storage capacities,impact of moore's law.

The computer storage devices market size is expected to see rapid growth in the next few years. It will grow to $20.74 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to rise in edge computing, data center modernization, emergence of ai and machine learning, expansion of iot devices, remote work and cloud storage. Major trends in the forecast period include solid-state drives (ssds) dominance, cloud-based storage solutions, data center expansion, artificial intelligence and big data, edge computing requirements.

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Segmentation & Regional Insights
The computer storage devices market covered in this report is segmented –

1) By Type: Hard Disk Drive, Solid State Drive, USB Flash Drives, Memory Cards, Optical Disks, Other Types
2) By Usage: Individual Usage, Enterprise Usage
3) By Application: Mainframes, Desktop, Laptop Computers, Other Applications

The Asia-Pacific was the largest region in the computer storage devices market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the global computer storage devices market report during the forecast period. The regions covered in the computer storage devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
An increase in the number of social media users that required the storage of big data for further analytical processing is expected to drive the growth of the computer storage devices market. Big data contains a large amount of structured and unstructured data and require huge storage devices, driving demand for computer storage devices. For instance, in February 2023, according to We Are Social, a UK-based media company, 1 in 3 Australians use social networks for brand research, a 7.3% increase since the previous year. Thus, the increasing adoption of big data by organizations to reach the target audience using information from social media is influencing the computer storage devices market positively.

Key Industry Players
Major companies operating in the computer storage devices market report are Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., Huawei Technologies Co. Ltd., Tencent Holdings Limited, Sony Corporation, Amazon Web Services Inc., Lenovo Group Limited, Intel Corporation, International Business Machines Corporation, Oracle Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, Toshiba Corporation, Western Digital Corporation, Nintendo Co. Ltd., Kingston Technology Company Inc., Seagate Technology LLC, Transcend Information Inc., NetApp Inc., SanDisk Corporation, Pure Storage Inc., Teradata Corporation, Quantum Corporation, Polarbackup Ltd., Zoolz Intelligent Cloud, pCloud AG, Maxtor Corporation, BigMIND, NetEase Inc., Electronic Arts Inc., Alphabet Inc., Financière de l'Odet SA, Take-Two Interactive Software Inc., Bandai Namco Holdings Inc., Nutanix Inc., Cisco Systems Inc.

The computer storage devices market report table of contents includes:

1. Executive Summary
2. Computer Storage Devices Market Characteristics
3. Computer Storage Devices Market Trends And Strategies
4. Computer Storage Devices Market - Macro Economic Scenario
5. Global Computer Storage Devices Market Size and Growth
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32. Global Computer Storage Devices Market Competitive Benchmarking
33. Global Computer Storage Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Computer Storage Devices Market
35. Computer Storage Devices Market Future Outlook and Potential Analysis
36. Appendix

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