Hard Disk Market Size

Hard Disk Market registered a profitable valuation of USD 62.43 billion in 2024 and is projected to register USD 129.93 billion in 2037, expanding at a CAGR of 5.8% during the forecast period, i.e., 2025-2037. In 2025, the industry size of hard disk is assessed at USD 66.05 billion.

The primary growth driver of the hard disk market is the expanding data storage needs fueled by trends in cloud computing, big data analytics, and data-heavy applications such as artificial intelligence (AI) and the Internet of Things (IoT). With increasing demand for large-scale data storage, data centers and cloud providers are investing heavily in hard disks since they offer high storage capacity at a relatively low cost per gigabyte compared to solid-state drives. Companies of all sizes require effective data storage strategies to deal with increasing data. Approximately 79% of small businesses store less than 50TB of data, 78% of medium-sized businesses store less than 100TB, and 63% of enterprises store more than 100TB.

Additionally, solid-state drives (SSDs) are growing in popularity due to their speed and performance advantages. As data centers continue to use hard disks for bulk storage while using SSDs for high-performance jobs, their growth indirectly boosts the hard disk market. This hybrid approach allows data centers to optimize costs using SSDs for frequently accessed data on high-capacity hard disks. SSD adoption increases hard disk demand in data centers, which require cost-effective storage for cold or archive data.