• 2.5” External HDD continued to dominate with a 94% share.
• Surveillance HDD market drop by 22% QoQ and 38% YoY.

Gurugram/New Delhi, Dec 10, 2024. According to the latest CMR India Hard Drive Market Review by CyberMedia Research (CMR) for Q3 2024, the consumer HDD market faced a 13% decline in shipments compared to the previous quarter, and a 23% drop compared to the same period last year. The 2.5″ External HDD segment continued to dominate with a 94% market share, although the overall market experienced downward pressure.

According to Mukesh Sharma, Senior Analyst- Industry Intelligence Group (IIG), CyberMedia Research (CMR), “The Hard Disk Drive (HDD) market is undergoing a significant transformation, shaped by both challenges and potential. The rise of SSDs, offering superior speed and energy efficiency, has contributed to the decline in HDD sales, particularly for personal computers and laptops. However, HDDs remain crucial in cloud services and data centers, where there is strong demand for high-capacity storage. These drives continue to be vital for applications like archiving, surveillance, and large-scale data storage.”

HDD Market Highlights in Q3 2024

External HDD Market:

Seagate led the External HDD market with a whopping 51% market share, followed by Western Digital in second place with 37% market share. Toshiba was placed third with 10% market share.

Surveillance HDD Market:

Western Digital emerged as the clear leader with 46% market share, while Seagate secured the second position with 37% market share. Toshiba claimed third place with 16% market share.

Future Outlook

The demand for high-capacity HDDs is expected to sustain growth, with a projected single-digit YoY increase by the end of 2024. This growth is primarily driven by data center expansion and the adoption of high-capacity models for enterprise applications. However, the personal consumer segment continues to experience slower growth, impacted by the increasing popularity of SSDs.

Looking ahead, HDDs will continue to play a critical role in enterprise storage, particularly in large-scale environments such as cloud storage, AI applications, and big data analytics. Efforts to improve energy efficiency in HDDs are expected to align with stricter environmental regulations, supporting their relevance in the evolving storage landscape.

According to Preet Kaur, Analyst – Industry Intelligence Group (IIG), CyberMedia Research (CMR),“HDDs remain indispensable for large-scale data environments, and their continued evolution in energy efficiency and capacity will help them maintain a key role in the enterprise storage ecosystem. Despite the strong rise of SSDs in consumer markets, HDDs are set to sustain their importance in areas like cloud storage, big data, and AI, where high capacity and cost-effectiveness remain critical.”

Notes for Editors

1. Cyber Media Research (CMR) is a pioneering market intelligence and consulting firm that runs a comprehensive quarterly market update on the India Consumer Storage market. CMR’s India Quarterly Hard Drives Market Review covers External HDD, NAS, Surveillance HDD sold via distributors and retail outlets. The report accounts for ‘legal’ shipments, but does not include bundled or ‘grey’ market shipments or units brought from abroad by individuals as a part of personal baggage.

2. CMR uses the term “shipments” to describe the number of hard drive devices leaving the factory premises for OEM sales or stocking by distributors and retailers. For the convenience of media, the term ‘shipment’ is sometimes replaced by “sales” in the press release, but this reflects the market size in terms of units of hard drive devices and not their absolute value.