• 2.5” External HDD continued to dominate with a 90% market share, while 3.5” External HDD shipments saw a sequential Growth of 24%.
• The NAS market experienced a sequential decline of 12%.
• Surveillance HDD market shipments rose by 3% QoQ.
Gurugram/New Delhi, Sept 4, 2024 – According to the latest CMR India Hard Drive Market Review by CyberMedia Research (CMR) for Q2 2024, the India External HDD (2.5” & 3.5”) market witnessed a drop of 20% YoY. However, on a QoQ basis, there was a notable increase of 12% in shipments.
According to Mukesh Sharma, Analyst – Industry Intelligence Group (IIG), CyberMedia Research (CMR), “While there is a noticeable shift towards SSDs, and the HDD market is experiencing a year-on-year decline, HDDs remains competitive. HDDs continue to hold a substantial position in the market, with well-established players advancing technology to address challenges posed by emerging storage solutions. Conversely, the Surveillance HDD market, driven by technological advancements and rising security demands, saw a 3% QoQ growth in Q2 2024.
HDD Capacity Segment Performance
External HDDs: 1TB-1.5TB and 2TB Capacity segment each contributed 39% to the market in Q2 2024
Surveillance HDDs: The 2TB capacity segment contributed 27%, while the 4TB segment held 26% of the market.
HDD Market Landscape in H2 2024
External HDD Market:
• Seagate secured the top spot in the market, capturing a substantial 49% market share.
• Western Digital followed closely, securing the second position with a 37% market share and impressive sequential growth of 28%.
• Toshiba claimed the third position with a respectable 10% market share.
Surveillance HDD Market:
• Western Digital was placed first with commanding a 48% market share.
• Seagate held the second spot with 37% market share
• Toshiba claimed the third position with 14% market share in Q2 2024.
Future Outlook
The demand for high-capacity drives is expected to sustain HDD market growth, projecting a single-digit growth (YoY) by the end of 2024. As the market adapts to emerging technologies like SSDs, HDDs remain vital for specific applications, offering cost-effective and scalable storage.
“As we enter Q3 2024, CMR anticipates that shipments of External HDDs will experience growth. The hard disk drive HDDs are still commercially popular for their high capacity, cost-effectiveness, and reliability, especially for specific applications like large-scale storage environments. HDDs drives continue to offer advantages in specific cases such as data archiving, digital forensics, and legacy systems. Furthermore, HDDs will play a crucial role in the AI adoption curve by providing cost-efficient, scalable storage solutions to meet the growing demand for data storage,”added Preet Kaur, Analyst – Industry Intelligence Group (IIG), CyberMedia Research (CMR).
Notes for Editors
- 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.
- 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.
