• 2.5” External HDD continued to dominate with 92% market share.
• 3.5” External HDD shipments grew 7% YoY.
• NAS market shipments witnessed 7% YoY decline.

Gurugram/New Delhi, Sep 4, 2023: According to CMR’s India External Hard Drive Market Review for Q2 CY2023, the India External HDD (2.5” & 3.5”) market shipments witnessed a YoY growth of 4%. On the QoQ basis also, the market shipments increased by 16% during the same period.

“This marginal single-digit growth can be attributed to the commencement of a new financial year. Nonetheless, the exceptional features and diverse applications of SSDs have recently presented considerable challenges to the External HDD market. Furthermore, the expanding base of External SSDs and their growing affordability have exerted additional influence on the trajectory of the External HDD market’s growth.” observed Shipra Sinha, Senior Analyst – Industry Intelligence Group, CyberMedia Research.

In Q2 CY2023, the overall NAS shipments experienced a decline of 7% YoY, on a relatively smaller base. The 2Bay NAS emerged as the most preferred choice with 49% share, closely followed by the 4Bay NAS at 40% share.  

Q2 CY2023 Highlights

Market Leadership    

In the overall India External HDD market, Seagate secured the top spot with 44% market share followed closely by WDC with 39% market share. Toshiba stood at the third position with a 15% market share.

Future Trends

By the end of CY2023, shipments of External HDDs (2.5″ and 3.5″) are anticipated to grow by single-digit. This expansion can be attributed to the sustained demand for External HDDs as they offer substantial storage capacity at comparatively lower price.

As per Shipra, “With the upcoming festive season, the shipments of External HDDs shipments will record growth in Q3 2023. However, increasing adoption of SSDs will slow down the future growth prospects of External HDDs. All said, it’s worth noting that while SSDs have numerous advantages, HDDs still have their place, especially for mass storage due to their lower cost per gigabyte.”

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.