According to TechSci Research report, “United Kingdom External Hard Drive Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, United Kingdom External Hard Drive Market was valued at USD 130 Million in 2023 and is expected to grow at a CAGR of 6.01% during the forecast period.
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Increased awareness of data backup and security is significantly boosting the UK external hard drive market. As digital data becomes increasingly vital for both personal and professional use, individuals and organizations are more aware of the need to protect their information from loss, corruption, or theft. External hard drives are essential to effective data backup strategies, offering a reliable and accessible way to create physical copies of critical files.
With the rising frequency of data loss incidents, including hardware failures, cyberattacks, and accidental deletions, the demand for robust backup solutions has grown. External hard drives provide an affordable and straightforward means for users to regularly back up their data and keep it offline. This is especially crucial for businesses that depend on data for their operations and compliance, as they need to maintain the integrity and availability of their information.
In response to escalating concerns about data security, external hard drive manufacturers are integrating advanced security features such as encryption and password protection. These enhancements address worries about data breaches and unauthorized access. As awareness of data protection continues to increase, the demand for external hard drives within comprehensive data management strategies is expected to drive market growth in the UK.
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Based on Application, The Consumer Desktop held the largest market share in 2023. Consumers using desktop computers often require significant storage capacity for a variety of purposes, including storing large multimedia files, backups, and extensive software applications. External hard drives offer a practical and affordable way to expand storage without having to upgrade internal components, making them an attractive option for managing large data volumes.
External hard drives for desktop use provide an easy-to-install and versatile solution. They offer users the flexibility to quickly back up, transfer, and access data across different devices. This convenience is particularly appealing to consumers who need reliable, high-capacity storage that is also portable and user-friendly.
Compared to upgrading internal storage or investing in other high-capacity solutions, external hard drives are relatively inexpensive. This cost-effectiveness makes them a popular choice for consumers looking for economical ways to increase their storage capacity. The competitive pricing of external hard drives has further solidified their dominance in the consumer desktop market.
The rise in digital content creation, including high-definition video production, gaming, and extensive photo libraries, has driven the demand for more storage. Desktop users, who often engage in these activities, find external hard drives to be a practical solution for managing and archiving their digital assets.
External hard drives are commonly used for data backup purposes. Consumers who prioritize data security and redundancy use these drives to safeguard against data loss due to system failures or other issues. This added layer of security contributes to the widespread adoption of external hard drives in the consumer desktop market.
Major companies operating in the United Kingdom External Hard Drive Market are:
- Seagate Technology LLC
- Toshiba Corporation
- Samsung Electronics Co., Ltd.
- Fujitsu Limited
- Intel Corporation
- Kingston Technology Company, Inc
- ADATA Technology Co., Ltd.
- Transcend Information Inc.
- SK Hynix Inc.
- Western Digital Corporation
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“The market opportunity in the United Kingdom external hard drive market lies in addressing the growing demand for higher storage capacities, advanced security features, and portable solutions. With increasing data generation and storage needs across both consumer and business segments, there is substantial potential for growth. Additionally, the integration of hybrid storage technologies and enhanced security measures presents opportunities for differentiation and competitive advantage. By capitalizing on these trends and offering innovative, high-performance products, companies can effectively meet evolving market demands and capture a significant share of the expanding external hard drive market.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“United Kingdom External Hard Drive Market, By Form Factor (2.5 inch, 3.5 inch, Others), By Application (Mobile, Consumer Desktop, Enterprise, Nearline, Others), By Capacity (Less than 1TB, 1-5TB, Above 5TB), By Interface (USB 3.0, USB 2.0, Thunderbolt, USB-C) By Region, Competition, Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of United Kingdom External Hard Drive Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United Kingdom External Hard Drive Market.
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