United Kingdom External Hard Drive Market is Expected to Register a CAGR of 6.01% Through 2029

Increasing Consumer Demand for Portable & Convenient Storage Solutions, Growing data generation & storage needs and advancements in storage technology are the likely to propel the market during the forecast period.

According to TechSci Research report, “United Kingdom External Hard Drive Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, United Kingdom External Hard Drive Market was valued at USD 130 Million in 2023 and is expected to grow at a CAGR of 6.01% during the forecast period.

Increasing awareness of data backup and security is a significant driver of the UK external hard drive market. As digital data becomes more integral to personal and professional activities, individuals and organizations are recognizing the importance of safeguarding their data against loss, corruption, or theft. External hard drives play a critical role in data backup strategies by providing a reliable and accessible means of creating physical copies of important files.

The frequency of data loss incidents, such as hardware failures, cyberattacks, and accidental deletions, has heightened the need for effective backup solutions. External hard drives offer an affordable and straightforward method for users to protect their data by regularly creating backups and storing them offline. This is particularly important for businesses that rely on data for operations and compliance purposes, as they must ensure the integrity and availability of their information.

In response to growing concerns about data security, external hard drive manufacturers are incorporating advanced security features, such as encryption and password protection, to enhance the safety of stored data. This focus on security addresses consumer and business concerns about data breaches and unauthorized access. As awareness of data protection continues to rise, the demand for external hard drives as part of comprehensive data management strategies is expected to drive market growth in the UK.

 

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Based on Application, The Consumer Desktop held the largest market share in 2023.  Consumers using desktop computers often require significant storage capacity for a variety of purposes, including storing large multimedia files, backups, and extensive software applications. External hard drives offer a practical and affordable way to expand storage without having to upgrade internal components, making them an attractive option for managing large data volumes.

External hard drives for desktop use provide an easy-to-install and versatile solution. They offer users the flexibility to quickly back up, transfer, and access data across different devices. This convenience is particularly appealing to consumers who need reliable, high-capacity storage that is also portable and user-friendly.

Compared to upgrading internal storage or investing in other high-capacity solutions, external hard drives are relatively inexpensive. This cost-effectiveness makes them a popular choice for consumers looking for economical ways to increase their storage capacity. The competitive pricing of external hard drives has further solidified their dominance in the consumer desktop market.

The rise in digital content creation, including high-definition video production, gaming, and extensive photo libraries, has driven the demand for more storage. Desktop users, who often engage in these activities, find external hard drives to be a practical solution for managing and archiving their digital assets.

External hard drives are commonly used for data backup purposes. Consumers who prioritize data security and redundancy use these drives to safeguard against data loss due to system failures or other issues. This added layer of security contributes to the widespread adoption of external hard drives in the consumer desktop market.

 

Major companies operating in the United Kingdom External Hard Drive Market are:

• Seagate Technology LLC
• Toshiba Corporation
• Samsung Electronics Co., Ltd.
• Fujitsu Limited
• Intel Corporation
• Kingston Technology Company, Inc
• ADATA Technology Co., Ltd.
• Transcend Information Inc.
• SK Hynix Inc.
• Western Digital Corporation

 

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“The market opportunity in the United Kingdom external hard drive market lies in addressing the growing demand for higher storage capacities, advanced security features, and portable solutions. With increasing data generation and storage needs across both consumer and business segments, there is substantial potential for growth. Additionally, the integration of hybrid storage technologies and enhanced security measures presents opportunities for differentiation and competitive advantage. By capitalizing on these trends and offering innovative, high-performance products, companies can effectively meet evolving market demands and capture a significant share of the expanding external hard drive market.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“United Kingdom External Hard Drive Market, By Form Factor (2.5 inch, 3.5 inch, Others), By Application (Mobile, Consumer Desktop, Enterprise, Nearline, Others), By Capacity (Less than 1TB, 1-5TB, Above 5TB), By Interface (USB 3.0, USB 2.0, Thunderbolt, USB-C) By Region, Competition, Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of United Kingdom External Hard Drive Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United Kingdom External Hard Drive Market.

 

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