The External Storage Market is expected to register a CAGR of 28.4% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The External Storage Market report covers analysis By Storage Type (Optical Storage, Solid-State Storage Devices, Flash Storage Devices, External Hard Drives, Others); End-user (Enterprise, Consumer). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report External Storage Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
External Storage Market Segmentation
Storage Type- Optical Storage
- Solid-State Storage Devices
- Flash Storage Devices
- External Hard Drives
- Enterprise
- Consumer
Strategic Insights
External Storage Market Growth Drivers- Need for reliable data storage solutions: More Generation of Data Across Sectors With such explosive growth in industries involving IT, healthcare, finance, and media sectors, data generation is bound to explode. Organizations want reliable and efficient storage systems where their critical data would not be compromised.
- Increased Adoption of Cloud Computing: With the integration of cloud services with external storage devices, the demand for hybrid solutions combining on-premises external storage and cloud storage is increasing as they offer flexibility and provide data security benefits.
- Increased Adoption of Remote Work and Digital Transformation: Remote work, increased reliance on digital workflows, and a move away from traditional work have amplified the need for portable and high-capacity external storage devices that ensure seamless data access and sharing.
- Rising Adoption of Cloud-Integrated Hybrid Storage Solutions: Market trends in hybrid storage solutions indicate cloud-integrated and local-capable storage solutions are finding greater adoption. Companies and manufacturers focus on easy, seamless cloud integration.
- SSDs Revolutionizing External Storage with Speed and Affordability: SWOT analysis reveals that SSDs are really a game-changer in external storage due to their pace and durability. Market strategies lean toward affordability to reach more vast audiences.
- Growth in External Storage Driven by Encryption and Biometric Security: The demand for external storage solutions is growing rapidly as industries prioritize data security. Advanced encryption and biometric features are becoming standard in these devices, offering enhanced protection against unauthorized access. Market research indicates that this focus on security is a key driver for the increasing adoption of external storage across various sectors.
- Demand for High-Capacity Storage Solutions: To keep up with changing digital storage needs, consumers and companies are favoring external storage devices with terabyte-level capacity to handle big datasets, films, and high-resolution photos.
- Transition to Solid-State Drives: External drives are moving from traditional Hard Disk Drives (HDDs) to solid-state drives (SSDs) for their speed advantage, durability, and portable design, appealing to more modern consumers and enterprises alike.
- Security integration: Advances in external drives now possess built-in encryption, biometrics, and remote wipe capabilities while providing a heightened sense of data privacy and security needs.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the External Storage Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the External Storage Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies of this market are: ADATA Technology Co., Ltd., Dell Inc., Fujitsu Ltd., SK hynix Inc., Hitachi Data Systems (Hitachi Ltd.), Western Digital, Pure Storage, Inc., Samsung, Seagate Technology LLC.
Key future trends in this market are - Rising Demand for Cloud-Integrated Storage, Expanding Use of SSDs for High-Speed Storage, Security Features in External Drives
The External Storage Market is estimated to witness a CAGR of 28.4% from 2023 to 2031.
The major factors driving the market are: Rising data generation, Demand for backup and recovery, Growth of media/entertainment industry
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 External Storage Market - By Storage Type
1.3.2 External Storage Market - By End-user
1.3.3 External Storage Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. EXTERNAL STORAGE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. EXTERNAL STORAGE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. EXTERNAL STORAGE MARKET - GLOBAL MARKET ANALYSIS
6.1. EXTERNAL STORAGE - GLOBAL MARKET OVERVIEW
6.2. EXTERNAL STORAGE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. EXTERNAL STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - STORAGE TYPE
7.1. OVERVIEW
7.2. STORAGE TYPE MARKET FORECASTS AND ANALYSIS
7.3. OPTICAL STORAGE
7.3.1. Overview
7.3.2. Optical Storage Market Forecast and Analysis
7.4. SOLID-STATE STORAGE DEVICES
7.4.1. Overview
7.4.2. Solid-State Storage Devices Market Forecast and Analysis
7.5. FLASH STORAGE DEVICES
7.5.1. Overview
7.5.2. Flash Storage Devices Market Forecast and Analysis
7.6. EXTERNAL HARD DRIVES
7.6.1. Overview
7.6.2. External Hard Drives Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. EXTERNAL STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. ENTERPRISE
8.3.1. Overview
8.3.2. Enterprise Market Forecast and Analysis
8.4. CONSUMER
8.4.1. Overview
8.4.2. Consumer Market Forecast and Analysis
9. EXTERNAL STORAGE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America External Storage Market Overview
9.1.2 North America External Storage Market Forecasts and Analysis
9.1.3 North America External Storage Market Forecasts and Analysis - By Storage Type
9.1.4 North America External Storage Market Forecasts and Analysis - By End-user
9.1.5 North America External Storage Market Forecasts and Analysis - By Countries
9.1.5.1 United States External Storage Market
9.1.5.1.1 United States External Storage Market by Storage Type
9.1.5.1.2 United States External Storage Market by End-user
9.1.5.2 Canada External Storage Market
9.1.5.2.1 Canada External Storage Market by Storage Type
9.1.5.2.2 Canada External Storage Market by End-user
9.1.5.3 Mexico External Storage Market
9.1.5.3.1 Mexico External Storage Market by Storage Type
9.1.5.3.2 Mexico External Storage Market by End-user
9.2. EUROPE
9.2.1 Europe External Storage Market Overview
9.2.2 Europe External Storage Market Forecasts and Analysis
9.2.3 Europe External Storage Market Forecasts and Analysis - By Storage Type
9.2.4 Europe External Storage Market Forecasts and Analysis - By End-user
9.2.5 Europe External Storage Market Forecasts and Analysis - By Countries
9.2.5.1 Germany External Storage Market
9.2.5.1.1 Germany External Storage Market by Storage Type
9.2.5.1.2 Germany External Storage Market by End-user
9.2.5.2 France External Storage Market
9.2.5.2.1 France External Storage Market by Storage Type
9.2.5.2.2 France External Storage Market by End-user
9.2.5.3 Italy External Storage Market
9.2.5.3.1 Italy External Storage Market by Storage Type
9.2.5.3.2 Italy External Storage Market by End-user
9.2.5.4 United Kingdom External Storage Market
9.2.5.4.1 United Kingdom External Storage Market by Storage Type
9.2.5.4.2 United Kingdom External Storage Market by End-user
9.2.5.5 Russia External Storage Market
9.2.5.5.1 Russia External Storage Market by Storage Type
9.2.5.5.2 Russia External Storage Market by End-user
9.2.5.6 Rest of Europe External Storage Market
9.2.5.6.1 Rest of Europe External Storage Market by Storage Type
9.2.5.6.2 Rest of Europe External Storage Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific External Storage Market Overview
9.3.2 Asia-Pacific External Storage Market Forecasts and Analysis
9.3.3 Asia-Pacific External Storage Market Forecasts and Analysis - By Storage Type
9.3.4 Asia-Pacific External Storage Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific External Storage Market Forecasts and Analysis - By Countries
9.3.5.1 Australia External Storage Market
9.3.5.1.1 Australia External Storage Market by Storage Type
9.3.5.1.2 Australia External Storage Market by End-user
9.3.5.2 China External Storage Market
9.3.5.2.1 China External Storage Market by Storage Type
9.3.5.2.2 China External Storage Market by End-user
9.3.5.3 India External Storage Market
9.3.5.3.1 India External Storage Market by Storage Type
9.3.5.3.2 India External Storage Market by End-user
9.3.5.4 Japan External Storage Market
9.3.5.4.1 Japan External Storage Market by Storage Type
9.3.5.4.2 Japan External Storage Market by End-user
9.3.5.5 South Korea External Storage Market
9.3.5.5.1 South Korea External Storage Market by Storage Type
9.3.5.5.2 South Korea External Storage Market by End-user
9.3.5.6 Rest of Asia-Pacific External Storage Market
9.3.5.6.1 Rest of Asia-Pacific External Storage Market by Storage Type
9.3.5.6.2 Rest of Asia-Pacific External Storage Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa External Storage Market Overview
9.4.2 Middle East and Africa External Storage Market Forecasts and Analysis
9.4.3 Middle East and Africa External Storage Market Forecasts and Analysis - By Storage Type
9.4.4 Middle East and Africa External Storage Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa External Storage Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa External Storage Market
9.4.5.1.1 South Africa External Storage Market by Storage Type
9.4.5.1.2 South Africa External Storage Market by End-user
9.4.5.2 Saudi Arabia External Storage Market
9.4.5.2.1 Saudi Arabia External Storage Market by Storage Type
9.4.5.2.2 Saudi Arabia External Storage Market by End-user
9.4.5.3 U.A.E External Storage Market
9.4.5.3.1 U.A.E External Storage Market by Storage Type
9.4.5.3.2 U.A.E External Storage Market by End-user
9.4.5.4 Rest of Middle East and Africa External Storage Market
9.4.5.4.1 Rest of Middle East and Africa External Storage Market by Storage Type
9.4.5.4.2 Rest of Middle East and Africa External Storage Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America External Storage Market Overview
9.5.2 South and Central America External Storage Market Forecasts and Analysis
9.5.3 South and Central America External Storage Market Forecasts and Analysis - By Storage Type
9.5.4 South and Central America External Storage Market Forecasts and Analysis - By End-user
9.5.5 South and Central America External Storage Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil External Storage Market
9.5.5.1.1 Brazil External Storage Market by Storage Type
9.5.5.1.2 Brazil External Storage Market by End-user
9.5.5.2 Argentina External Storage Market
9.5.5.2.1 Argentina External Storage Market by Storage Type
9.5.5.2.2 Argentina External Storage Market by End-user
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. EXTERNAL STORAGE MARKET, KEY COMPANY PROFILES
11.1. ADATA TECHNOLOGY CO., LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DELL INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FUJITSU LTD.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. SK HYNIX INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HITACHI DATA SYSTEMS (HITACHI LTD.)
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. WESTERN DIGITAL
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. PURE STORAGE, INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAMSUNG
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SEAGATE TECHNOLOGY LLC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TOSHIBA CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ADATA Technology Co., Ltd.
2. Dell Inc.
3. Fujitsu Ltd.
4. SK hynix Inc.
5. Hitachi Data Systems (Hitachi Ltd.)
6. Western Digital
7. Pure Storage, Inc.
8. Samsung
9. Seagate Technology LLC
10. Toshiba Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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