Digital Storage Devices Market Overview

In terms of value, the global digital storage devices market share is predicted to grow at a CAGR of 10.05% between 2022 and 2030. The global market for digital storage devices was estimated to be worth USD 14,250.6 Mn in 2022 and is anticipated to reach a final market value of USD 9.5 Bn by the end of the forecast period in 2030. The increasing volume of HD Video Content on worldwide market premises is a major driving element in the industry.

The data storage device is similar to computational hardware in that it is used to store, transfer, and extract data from files and objects. Data storage devices are one of the most important components of computing equipment. It functions as a storage medium that may be connected to either a computer or a server internally or externally. They are also available in a variety of form factors, including hard disc drives (HDD), Solid State Drives (SSD), memory cards, floppy discs, and optical disc drives.

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Market Segmentation

The market is divided into several types, including flash storage, solid-state drives, magnetic disc drives, optical disc drives, and others. Flash storage is further classified as USB storage and memory card storage. Solid-state drives are further classified as flash memory-based, DRAM-based, and other. Magnetic storage is further classified as floppy discs, magnetic recording tapes, magnetic strips, hard discs, and others. Optical storage is further classified as digital versatile discs, compact discs, Blu-Ray DVDs, and others.

The market is divided into applications such as personal computers, laptops, smartphones, networking, and others. The market is divided into storage segments of up to 8 Gb, 8-128 Gb, 128-512 Gb, 512 Gb to 2 Tb, and 2 Tb and above. The market is divided into two categories based on usage: individual usage and enterprise usage. North America, Europe, Asia Pacific, and the rest of the globe are the four regions of the market. USD Billion Global Digital Storage Devices Market

Regional Classification

Due to increased demand for faster and more secure storage devices, the worldwide digital storage devices market is expected to rise at a rapid pace during the forecast period. The study includes a geographical analysis of the digital storage devices market for regions such as North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand), and the rest of the globe (including the Middle East, Africa, and South America). North America leads the market among these regions. Nearly half of all device vendors are concentrated in North America, where they provide digital storage devices for laptops, desktop computers, and portable storage. These suppliers represent a sizable portion of the storage device maker industry.

One of the primary factors driving the expansion of digital storage devices is the increased use of flash storage and the increasing prevalence of smartphones with larger storage capacities.

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Industry News

The Digital Storage market report provides an overview of the major key competitors, including Dell, Inc., IBM Corporation, Microsoft Corporation, Amazon.com, Inc., and Nutanix, Inc., among others.

Key players

Some of the major players in global digital storage devices market include Western Digital Technologies, Inc (U.S.), Toshiba Corporation (Japan), Sony Corporation (Japan), Intel Corporation (U.S.), Lenovo Group Ltd (China), Samsung Electronics Co Ltd (South Korea), SanDisk Corporation (U.S.), Seagate Technology PLC (U.S.), Teradata Corporation (U.S.), Transcend Information, Inc (Taiwan), among others.

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