|
Forecast Period
|
2025-2029
|
|
Market Size (2023)
|
USD 0.84 Billion
|
|
Market Size (2029)
|
USD 1.09 Billion
|
|
CAGR (2024-2029)
|
4.27%
|
|
Fastest Growing Segment
|
Enterprise
|
|
Largest Market
|
Saudi Arabia
|
Market Overview
Middle
East and Africa External Hard Drive Market
was valued at USD 0.84 Billion in 2023 and is expected to reach USD 1.09 Billion
by 2029 with a CAGR of 4.27% during the forecast period.
The Middle East and Africa (MEA) external hard
drive market refers to the demand, supply, and sale of portable storage devices
used to store data externally across countries in the Middle East and Africa.
External hard drives are widely used for personal, corporate, and government
purposes to store, transfer, and secure data, offering a flexible solution that
supports both cloud and offline storage needs. With rapid digitalization across
these regions, especially with the expansion of e-commerce, remote work, and
digital banking, the demand for secure and reliable data storage solutions is
increasing. Factors like the rise in internet penetration, smartphone adoption,
and the subsequent data generated are pushing businesses and individuals to
seek more efficient ways to manage data, fueling market growth. Additionally,
the adoption of advanced technologies like artificial intelligence, machine
learning, and big data analytics requires substantial data storage capacity,
which external hard drives can support efficiently.
Moreover, rising concerns around data privacy and
security are prompting businesses to invest in secure storage solutions to
safeguard sensitive information, further accelerating the demand for external
hard drives. Many companies in these regions prefer on-premise and hybrid
storage options for better control over data security, and external hard drives
offer a practical solution for secure, local backups. Additionally, the
proliferation of smart cities and IoT applications is increasing data volume and
driving demand for portable storage that supports high-capacity requirements.
The market’s growth is also supported by declining costs and improvements in
storage capacities, making these devices more accessible to both individual
users and enterprises. Further, collaborations between tech manufacturers and
governments in Africa and the Middle East to improve digital infrastructure and
enhance data security measures are projected to continue driving market
expansion. As digital transformation deepens across industries like healthcare,
finance, and education, the need for scalable, reliable, and flexible storage
solutions like external hard drives is expected to sustain this upward market
trend.
Key Market Drivers
1. Rapid Digital Transformation and Data Generation
across Key Industries
The Middle East and Africa regions are witnessing
an accelerated digital transformation across various industries, including
finance, healthcare, education, and retail. Digitalization is leading to an
explosion in data generation, as organizations increasingly adopt digital
tools, platforms, and infrastructure to enhance productivity, streamline
operations, and reach a broader consumer base. This surge in data volume is
driving organizations and individuals to seek reliable data storage solutions
to handle vast amounts of data effectively. External hard drives provide a
cost-effective, flexible, and portable means for storing critical business
data, enabling companies to maintain and access data without fully relying on
cloud-based solutions.
In finance, digital banking, mobile payments, and
fintech innovations generate extensive customer and transaction data, pushing
banks and financial institutions to expand their storage capacities.
Healthcare, too, is seeing massive data production through electronic medical
records, telemedicine, and diagnostic imaging. As healthcare providers aim to
securely store and access sensitive medical data, demand for external hard
drives rises. The retail and e-commerce sectors generate substantial consumer
behavior data, which is essential for personalization and targeting; hence,
robust storage solutions are critical. This widespread digitalization and the
associated data explosion across sectors significantly drive the Middle East
and Africa external hard drive market forward, ensuring stable growth
prospects.
2. Rising Data Security and Privacy Concerns amid
Expanding Cyber Threats
With digitalization comes the heightened risk of
data breaches and cyber threats, which are becoming increasingly prevalent in
the Middle East and Africa. Organizations across these regions are prioritizing
data security and privacy, as they must protect sensitive business and customer
information from unauthorized access. Given these security concerns, businesses
prefer on-premise and hybrid storage solutions where they have better control
over data handling and security protocols. External hard drives offer a
critical layer of security by providing an offline, local storage option that
is less vulnerable to remote hacking attempts compared to cloud storage
systems.
As regulatory frameworks around data protection,
such as the European Union’s General Data Protection Regulation (GDPR),
influence data handling practices globally, organizations in the Middle East
and Africa are adopting best practices in data security. For instance, sectors
like finance and healthcare face stringent requirements regarding data storage
and handling due to the sensitive nature of the data involved. For companies in
such sectors, external hard drives enable adherence to data privacy regulations
and provide an additional secure backup option. Furthermore, businesses see
external hard drives as an essential component of disaster recovery plans,
where having local backups can minimize the risk of data loss due to
cyberattacks, natural disasters, or system failures. The demand for secure and
private data storage solutions is thus a major driver in the Middle East and
Africa external hard drive market.
3. Growth of Smart City Initiatives and Internet of
Things (IoT) Adoption
The Middle East and Africa are experiencing a surge
in smart city projects and Internet of Things (IoT) adoption, which are key
contributors to data generation and storage needs. Cities like Dubai, Abu
Dhabi, Riyadh, and Johannesburg are investing heavily in smart infrastructure,
incorporating IoT devices and sensors for improved traffic management, energy
efficiency, and public services. These smart city initiatives lead to
significant amounts of real-time data from various devices, sensors, and platforms,
necessitating efficient and scalable storage solutions.
As IoT devices collect and transmit data
continuously, the volume of data requiring storage grows exponentially,
creating demand for accessible and high-capacity storage solutions. External
hard drives are an essential tool for IoT projects, offering flexible and
portable storage that can support data generated by connected devices. They
allow users to locally store IoT data, especially in scenarios where cloud
storage may be impractical or too costly. In addition, external hard drives
help organizations overcome latency issues associated with real-time data
storage and processing in IoT environments. With smart city projects and IoT
adoption forecasted to grow across the Middle East and Africa, the demand for
external hard drives is expected to rise as they play a critical role in
managing and storing this complex and growing data landscape.
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Key Market Challenges
1. Competition from Cloud
Storage Solutions and Digital Transformation Initiatives
One of the significant
challenges to the growth of the external hard drive market in the Middle East
and Africa is the increasing popularity of cloud storage solutions. With
advancements in internet infrastructure, many businesses and consumers are
shifting to cloud storage due to its convenience, scalability, and
accessibility. Cloud storage allows organizations to store vast amounts of data
remotely, with added benefits such as automatic backups, high-level security
protocols, and remote accessibility, making it an attractive alternative to
physical storage options like external hard drives. Cloud solutions also align
with the digital transformation initiatives promoted by governments and
businesses across the region, which encourage modern, scalable, and
digital-first approaches to data management.
The flexibility of cloud
storage is especially appealing to businesses, as it allows them to pay for
storage based on their actual needs, reducing the requirement for upfront
capital investment in hardware. Furthermore, cloud storage providers often offer
integrated analytics tools and seamless collaboration options that are
essential in today’s interconnected and data-driven business environments.
These features reduce the reliance on external hard drives for storing and
managing data. In some sectors, such as finance and retail, the shift to
cloud-based enterprise resource planning (ERP) systems and customer
relationship management (CRM) systems further drives this trend away from
physical storage. As more companies in the Middle East and Africa adopt cloud-first
strategies, external hard drives may face difficulty competing, especially in
enterprise environments where large-scale data storage and advanced analytics
capabilities are required.
2. High Initial Costs and
Limited Accessibility in Rural and Underserved Areas
Despite the increasing need
for data storage solutions, high initial costs and limited accessibility in
rural and underserved areas present notable challenges to the adoption of
external hard drives in the Middle East and Africa. The costs of external hard
drives can be prohibitive for individuals and small businesses in low-income
regions, especially where economic instability or currency fluctuation
increases the effective price of imported goods. Moreover, the overall
technology infrastructure in these regions is often less developed, which
impacts the availability of high-quality storage products at affordable prices.
This limits the market reach of external hard drives to primarily urban and
higher-income consumer segments, which may not be sufficient to drive sustained
market growth in the region.
In rural areas with limited
access to technology retail or e-commerce options, consumers and small
businesses may have difficulty acquiring external hard drives. Additionally,
high import taxes and logistical challenges in distribution add to the final consumer
cost, making external hard drives even less accessible. For smaller enterprises
in remote areas, these costs become a barrier to maintaining proper data
storage practices. Further, a lack of awareness about the benefits of data
storage and backup solutions in some areas reduces demand, as potential users
may not fully understand the long-term value of secure data storage. To
overcome these challenges, external hard drive manufacturers and distributors
need to develop strategies for making these products more affordable and
accessible. However, without addressing the high initial cost and limited reach
in underserved regions, the external hard drive market in the Middle East and
Africa will face constraints in its expansion.
Key Market Trends
1. Growing Demand for High-Capacity External Hard
Drives
As data generation across the Middle East and
Africa increases exponentially, there is a notable shift in demand towards
high-capacity external hard drives. Businesses and consumers alike are
producing larger volumes of data due to digitalization across sectors such as
finance, healthcare, and entertainment. With the proliferation of
high-definition video, virtual reality applications, and data-intensive
analytics, both enterprises and individuals are seeking storage solutions that
can handle larger files and extensive datasets.
This trend towards high-capacity drives, with
storage options exceeding 2 terabytes, reflects the need for scalable storage
solutions that offer flexibility and long-term data management capabilities.
High-capacity external hard drives are especially appealing to small and
medium-sized enterprises that need cost-effective solutions for data backup and
archiving, as well as to creative professionals managing extensive digital
media libraries. For consumers, these drives offer a practical way to store high-resolution
videos, photos, and gaming data without relying on cloud storage. The rising
affordability of larger-capacity drives, coupled with their enhanced data
transfer speeds, makes them an increasingly attractive option. This growing
demand is expected to continue, driving manufacturers to develop even
higher-capacity drives with improved performance to meet the evolving needs of
the Middle East and Africa market.
2. Increased Focus on Portable and Durable Storage
Solutions
With a more mobile workforce and the rise of remote
work across the Middle East and Africa, there is a growing preference for
portable and durable external hard drives. Professionals and freelancers who
work remotely need compact, lightweight storage solutions that are easy to
carry yet resilient enough to withstand frequent transport and usage. External
hard drives designed with features such as shock resistance, water resistance,
and enhanced durability are gaining traction as consumers prioritize reliability
in portable storage.
Durable, portable external hard drives also appeal
to businesses that have employees frequently traveling or working in various
field locations. Sectors such as oil and gas, construction, and field
research—where work is often conducted in rugged or unpredictable
environments—are increasingly investing in external drives that can protect
sensitive data under demanding conditions. Additionally, these portable drives
are popular among creative professionals who frequently require reliable,
on-the-go storage for large media files. Manufacturers are responding by
introducing more compact, ruggedized models with advanced features to cater to
this trend. This focus on portability and durability aligns with the demands of
an increasingly dynamic workforce in the Middle East and Africa.
3. Rise of Solid-State Drives (SSD) for Faster Data
Transfer and Enhanced Performance
As technology advances, there is a growing trend in
the Middle East and Africa towards solid-state drives (SSD) over traditional
hard disk drives (HDD) due to the superior speed, durability, and performance
of SSD technology. Unlike HDDs, SSDs have no moving parts, which makes them
more resilient to physical damage and enhances data transfer speeds—qualities
that are increasingly valued in both business and consumer segments. With the
demand for faster data access and improved productivity, SSDs are becoming the
preferred choice for external hard drives, particularly among enterprises that
rely on rapid data processing.
The demand for SSDs is also being driven by sectors
that require high-performance storage for real-time data access, such as media
production, gaming, and data analytics. As SSD prices gradually decrease, they
are becoming more accessible to a broader range of consumers in the region. The
superior performance of SSDs, combined with their longer lifespan and energy
efficiency, makes them ideal for users who require both reliability and speed.
This shift towards SSDs indicates an ongoing transformation in the Middle East
and Africa external hard drive market, with a focus on advanced storage
solutions that cater to modern, data-intensive applications.
Segmental Insights
Type Insights
In 2023, the portable
external hard drive segment dominated the Middle East and Africa external hard
drive market and is expected to maintain its dominance during the forecast
period. This dominance can be attributed to the increasing demand for compact,
lightweight, and flexible storage solutions that offer ease of use and
portability for both individuals and businesses. As remote work continues to
rise, along with digital transformation across industries, there is a growing
need for on-the-go data storage solutions that enable professionals to back up,
transfer, and access data from various locations. Portable external hard drives
cater to this demand by providing users with an efficient and secure way to
store and transport large volumes of data. Additionally, the rise of digital
media consumption, including high-resolution videos, gaming data, and personal
content, has led to an increase in the demand for portable storage among
consumers. These drives also appeal to small and medium-sized enterprises looking
for cost-effective, space-saving storage solutions that can easily be moved
between different workstations or locations. Furthermore, the affordability of
portable external hard drives and advancements in their performance, such as
faster data transfer speeds and higher storage capacities, have contributed to
their sustained popularity. While desktop external hard drives continue to hold
value for certain business applications requiring more substantial storage
capacities and consistent power supply, the growing trend of mobile data usage
and increasing consumer preference for convenience ensures that portable
external hard drives will continue to lead the Middle East and Africa external
hard drive market throughout the forecast period.
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Country Insights
In 2023, the Saudi Arabian region dominated the
Middle East and Africa external hard drive market and is expected to maintain
its dominance during the forecast period. This dominance is primarily driven by
the country’s rapid technological advancement, growing digitalization across
various sectors, and high adoption rates of data-intensive technologies. Saudi
Arabia is witnessing an expanding demand for storage solutions due to the
increasing use of smartphones, the rise of e-commerce, and the rapid growth of
sectors such as healthcare, finance, and education, all of which generate
massive amounts of data that require reliable backup and storage solutions.
Moreover, the government’s focus on Vision 2030, which emphasizes enhancing
digital infrastructure and transitioning towards a more technology-driven
economy, further boosts the demand for data storage devices, including external
hard drives. The country’s favorable economic conditions, high disposable
income levels, and strong consumer interest in personal digital storage
solutions also contribute to the growth of the external hard drive market.
Additionally, businesses in Saudi Arabia, ranging from small enterprises to
large corporations, increasingly rely on external hard drives for data
security, archiving, and backup needs. While other regions like the UAE and
South Africa also show significant demand for external hard drives, Saudi
Arabia remains at the forefront due to its larger and more diverse
technological and business ecosystem. As the digital transformation accelerates
and data consumption continues to rise across various industries in the region,
Saudi Arabia is expected to maintain its leading position in the Middle East
and Africa external hard drive market throughout the forecast period.
Recent Developments
- In January 2024, Toshiba Energy Systems &
Solutions Corporation (Toshiba) signed a memorandum of understanding with PLN
Nusantara Power (PLN-NP), a subsidiary of Indonesia's state-owned electricity
company, PT PLN. The agreement focuses on collaborating to implement carbon
dioxide capture technology at PLN-NP’s thermal power plants in Indonesia. This
partnership aims to support the country’s efforts to reduce emissions and
improve environmental sustainability within its energy sector.
- In April 2024, Transcend Information Inc., a global
leader in industrial memory storage solutions, introduced the MTE560P M.2
solid-state drive, featuring cutting-edge technology. This high-performance
drive incorporates a PCIe Gen 4x4 interface and 112-layer 3D NAND Flash
technology, offering improved speed and reliability. Designed to meet the needs
of industries such as industrial automation, transportation, and continuous
surveillance, the MTE560P ensures long-term stability with features like a wide
operating temperature range, SLC Mode, Power Loss Protection, and TCG Opal
encryption. The drive is tailored to support the growing demands of smart
technology applications.
Key
Market Players
- Seagate
Technology LLC.
- Western
Digital Corporation.
- Toshiba
Corporation
- Transcend
Information, Inc
- ADATA
Technology Co., Ltd
- Samsung
Electronics Co., Ltd
- Buffalo
Inc.
- Sony
Corporation
- Fujitsu Limited
- Lenovo Group Ltd.
|
By Type
|
By Storage Capacity
|
By Connectivity
|
By End-User
|
By Country
|
- Portable
External Hard Drives
- Desktop
External Hard Drives
|
- Up to 500GB
- 501GB to 1TB
- 1TB to 2TB
- Above 2TB
|
- USB 2.0
- USB 3.0
- USB-C
- Thunderbolt
|
- Personal
- Commercial
- Enterprise
|
- Saudi Arabia
- UAE
- Kuwait
- Iran
- Qatar
- Egypt
- South Africa
- Bahrain
- Nigeria
- Turkey
- Rest of Middle
East and Africa
|
Report Scope:
In this report, the Middle East and Africa External
Hard Drive Market has been segmented into the following categories, in addition
to the industry trends which have also been detailed below:
- Middle East and Africa External
Hard Drive Market, By Type:
o On-premises
o Cloud
- Middle East and Africa External
Hard Drive Market, By Storage Capacity:
o Up to 500GB
o 501GB to 1TB
o 1TB to 2TB
o Above 2TB
- Middle East and Africa External
Hard Drive Market, By Connectivity:
o USB 2.0
o USB 3.0
o USB-C
o Thunderbolt
- Middle East and Africa External
Hard Drive Market, By End-User:
o Personal
o Commercial
o Enterprise
- Middle East and Africa External
Hard Drive Market, By Country:
o Saudi Arabia
o UAE
o Kuwait
o Iran
o Qatar
o Egypt
o South Africa
o Bahrain
o Nigeria
o Turkey
o Rest of Middle East and Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Middle East and Africa External Hard Drive Market.
Available Customizations:
Middle East and Africa External Hard Drive Market
report with the given market data, TechSci Research offers customizations
according to a company's specific needs. The following customization options
are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Middle East and Africa External Hard Drive Market
is an upcoming report to be released soon. If you wish an early delivery of
this report or want to confirm the date of release, please contact us at [email protected]